Disclosure: collaborative post
Being a blogger can be a lot of fun. Unlike practically every other profession, the whole purpose of the enterprise is to have a conversation with your audience. You’re trying to get to know each other as best you can and provide a little enlightenment in this often dark and dreary world of ours.
Money, however, is a constant concern. While some bloggers create successful enterprises that generate enormous revenues, others struggle. Many people who write for a living genuinely find it hard to make ends meet and often have to take other work to provide adequate finances.
What money issues do you face as a blogger?
Failing To Save Enough
Full-time bloggers don’t have a company pension that they can look forward to once they hit retirement. Instead, they have to somehow create their own from the money they generate daily.
Achieving this is easier said than done. Most people who blog for a living only make enough to scrape through the month and pay the bills. Often they don’t have any surplus left over to tuck away somewhere for retirement. It’s just not an option.
Tax Concerns
Bloggers also have to deal with various small business taxes as part of their enterprise. VAT, capital gains, and corporation tax all apply to bloggers who use their websites as advertising platforms.
If you’re not an accountant, dealing with these issues can be a significant source of stress. You don’t know, for instance, how much income tax you should pay in your dividends or when you should charge VAT. In these situations, it’s usually best to get somebody else to take care of it for you. The last thing you want is the tax authorities giving you grief.
Supporting Children
Unlike the vast majority of jobs, blogging doesn’t provide a consistent monthly income. What you get paid tends to relate directly to the quality of your content and affiliate marketing efforts. If the punters aren’t arriving and clicking, your pay goes down.
There are things that you can do to counteract this sort of thing. For instance, charging customers subscription fees for gated content can help smooth things out a little. But most blogging models work on a pay-as-you-go basis.
For mums, this can be a worry. You want to support your children, but you fear that some months you won’t have the money you need to make ends meet.
The Redundancy Of Their Partner
Most people who do blogging full-time see it as an activity for them to perform on the side. They have a partner with a regular job and a stable income to support the family.
But as the recent pandemic made clear, no job is absolutely guaranteed. Some people will never be able to go back to the office. And that’s a concern for many bloggers with spouses who work in the “real” economy.
If money worries are a concern for you, it can act as great motivation for growing your blogging empire. You love to write, so look for opportunities to make it happen.
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