Millennials have been in the work force for almost 20 years, and represent the new generation of business owners and influencers. Blogging is one of those business opportunities that millennials are not only participating in, but developing and shaping. It is exciting to see a group of bloggers that have used this medium to generate traffic, and tribes of followers, and have monetized their blogs. This monetization is changing the bloggers lifestyles, and actually changing the trajectory of their lives.
Blogging is so exciting, because it is a new(ish) medium, and you can choose to blog about whatever you want. It is much different and not as easy as some may think. There is alot to learn, and alot of work. You need to find time to write posts, build pins, understand Pinterest and use it to drive traffic. Learn facebook, instagram, twitter, Google, etc. Find ways to monetize your blog, whether it is from ads or affiliate marketing, or providing services.
I like reading financial blogs because they are posts to help people with a financial problem. These bloggers are teaching others to get out of debt, to start investing, reduce student debt, improve credit, and overall to set and achieve financial goals.
On this post I am going to showcase financial bloggers who are making substantial incomes from their blogs and are living lives that they couldn’t have imagined before they started blogging. These are people who used to be teachers, analysts, students, a band director.
Michelle Schroeder is probably the poster child of millennial finance bloggers. She started her blog in August 2011, at the age of 22, as a way to track her goal of paying off her student debt. Her intention wasn’t to make money from her blog, but just to use it for accountability, tracking and community. Over time, she discovered that she was getting a following and learned how to monetize her blog.
Michelle writes about getting out of debt, saving, and ways to earn extra income through side hustles. She is heavy into the blogging niche, and has developed a fantastic course that teaches other bloggers how to monetize their blogs using affiliate marketing. Check out her course here. Michelle was able to quit her full-time job as a financial analyst in October 2013 to focus on her blog.
Her income from her blog has increased substantially over the last 7 years from $0 to over $1.5 million last year. Besides being wildly successful, she also seems to be a genuine nice person who shares constantly. Here are some of her most popular posts:
Bobbie Hoyt was a high school band director in Texas after he graduated college. Bobbie had $40,000 in student debt, and after a mentor told him that he needed to get rid of that debt, he managed to pay it off completely in a year and a half. He started Millenial Money Man to showcase how he managed to crush his debt, and very soon after starting his blog, he quit his day job to blog full-time. He also started a new blogging course, which has really taken off. I enjoy Bobbie’s blog because he is encouraging, gives great advice and he also has a great sense of humour.
Kyle Turner started The Penny Hoarder in 2010 as a tool to help everyday people to transform their finances, with the sole goal of helping people stress less about money. Today they are one of the fastest growing media companies in the US with over 90 employees. They have 12 – 17M readers per month. That is M for million. Here are some popular Penny Hoarder posts.
Most of you have probably already heard of Pat Flynn and been to his blog Smart Passive Income. Through his own experiences, Pat teaches his readers how to stop working for your paycheque and start making passive income using online businesses. I would say that Pat is one of the pioneers, since he started his blog back in 2008. He teaches his readers how to make money using affiliate marketing, blogging, podcasting and email marketing. He is easy to read, and fun to listen to. Meanwhile you are learning how to create your own online business that will help you get out of the rat race.
Here are some popular posts from Pat’s blog:
Grant Sabatier started this blog in 2015. Grant blogs about a movement that is underway currently, which is millennials are coming to the realization that they don’t have to work a 9 to 5 job until age 65 to make enough to retire. Rather, the internet has provided an opportunity to create a business online that will generate sufficient income online to be financially independent. Grant himself became a millionaire within 5 years of starting his business, and is now a millionaire. He created a community of like minded people that are sharing their knowledge and experiences to help others.
J.Money isn’t who you would typically go to on the street to talk about how to increase your net worth. He rocks a killer mohawk, and looks more like a punk rocker than a financial expert. That’s why you gotta love the internet. J. Money made some mistakes when it came to his finances, and decided to read some books to get things sorted out. He then started documenting the lessons he learned through a blog. Budgets Are Sexy was born. He has some help on his blog with other guest bloggers. Together they help millions of people per year. And now it is his full-time job. He has been killing it with his blog for over 10 years and has so many posts, it would be tough to get through them all. Here are a few that you can start with.
Pete, aka Mr. Money Mustache’s tag line is Financial Freedom through Badassity. In actuality, he and his wife managed to retire at 30, before they had children, because they learned how to increase their income, and reduce their expenses, save half their income and eventually they had enough that they didn’t need to go to a JOB anymore. They found that many of their friends would complain about not being able to manage their finances at the same time that they are spending on lavish trips, cars, and lifestyle. It takes effort and discipline to retire early in life, and so many people can work harder at spending less every day.
Steve retired at 35 (this story is starting to sound familiar) and spends time with his wife traveling around in their airstream trailer, going where they want, when they want. There was a time when he and his wife worked every day, bought a house, cars and stuff. They realized that in order to be financially independent that they would need to shed their need for things, and start being more frugal with their money. Eventually they had enough financial assets and income producing assets that would cover their expenses without going to work on Monday. They write about their experiences on their blog Think Save Retire, and they have some guests that share their own experiences. they write about retirement and they write about saving money.
J.P. owns the Money Habit blog. He retired at age 28 with $2.25 million. This is from J.P.s blog – Extreme early wealth doesn’t require you to be a genius or have a unique skill set. All it takes is a combination of new financial ideas and consistent implementation – a Money Habit – to achieve what you want. J.P. did what anyone could do if they put their mind to it. He worked at a job that paid good money, with the possibility of hard work, could make alot more. There are many sales jobs that provide an opportunity to make alot of money with hard work and focus. It is up to the person themselves to not spend, but rather save the money, invest it and achieve the life of their dreams. Read J.P.s posts to get more ideas of how you can accomplish financial independence in your 20s.