Being a full-time blogger comes with many benefits, however, there is one challenge that many of us face. There are times when blogging income can take a hit and be less than we were expecting. At times like these it can be easy to become disheartened and perhaps want to give up altogether. Here are some things you can do when your blogging income takes a hit.
Identify why your blogging income is lower than you expected
There are plenty of reasons why your blogging income might be lower than you expected, and finding out what has happened is really important to your long-term success. If your blog traffic is down you need to figure out why – is it a quiet time of year such as the summer holidays or Christmas; have you stopped promoting yourself on a social media platform or has a search engine changed their algorithms? If your income decreases from an affiliate then question why this is happening. Knowing what has happened helps you to plan for the future – is this going to be an ongoing drop in your income, or is it a one off? You can then plan your content and your strategy around this.
I definitely see seasonal variations in my affiliate income, especially over Christmas, and my traffic tends to dip over the 6 week summer holidays. Knowing this in advance means that I can prepare my workload and ensure we have enough cash in the business account to see us through. I use these quieter months to carry out any changes, or go on courses to increase my income in the future.
Check whether you can pay your bills
Depending on how you work out your income (I work out mine when I do the work or earn the affiliate commission, not when I get paid – which could be up to 90 days later), you might not notice the effects of earning less from blogging for a few months. In an ideal world we will all have a few months of income in a savings account, but that isn’t always possible.
One of the first things you need to do is to figure out whether you can still pay your bills and other outgoings for the month, and the next few months after your income has dropped. If you can’t pay your bills then consider these 6 things to do when you can’t pay this month’s bills.
Consider a short term loan
If you find yourself short, you might be considering borrowing money. Usually my first port of call for borrowing would be to use my overdraft, however did you know that is can be cheaper to consider short term payday loans? According to the BBC, borrowing from your unauthorised overdraft can cost a lot more! Whilst we might not want to resort to borrowing, it is important to do so in a responsible and cost effective way.
Work on generating cash FAST
If you know that you are going to have a few cash-poor months then it is time to start thinking about how you can make some money fast. I like to call these my “quick cash hits” and they are things I can do and get paid almost immediately, and definitely within 30 days. Some of these aren’t necessarily blogging tasks, it could be side hustles too. Some of the things I do to generate cash fast are:
- Sell items on eBay
- Cash in loose change around the house
- Sell my unwanted gift cards
- Chase unpaid invoices
- Sell advertising space
- Do more sponsored posts
- Run a sale on your product
There are so many things you can do to make cash fast when you start thinking about it.
Seeing a decrease in your blogging income can be very disheartening, however, it shouldn’t put you off long-term. Knowing how to manage these lows is key to your long-term blogging success.