Site Net Worth - October 2020
Updated: Dec 10, 2020
Welcome readers to our monthly Net Worth Statement! I plan to include a monthly net worth statement for a variety of reasons. First, most of the other blogs I read and follow have started out supplying income statements (we focus on net worth here so that's what I'll provide). They are a good read and give you a sense of where their focus is from a site monetization perspective. Second, because I intend to try and monetize this site I think it will be a good tool to help me track progress and share with my audience how that part of this project is going. Third/last, I think, is transparency and accountability for both myself and anyone who follows the blog. The more transparent I can be about the progress I'm making them better I can focus my attention on the efforts that are moving the needle. In addition, if I know I need to write this article once a month I better have something to add!
Before we get too deep into the nitty-gritty let me add some context around how The Saving Dude came to be and a little about the Why behind the site. A few years ago my wife and I launched a blog that mainly focused on taking care of our amazing English Bulldog, Daisy. Shortly after we launched the blog I took a job in a new city, we moved three times in 18-months and the blog writing got away from us. I did, however, get a taste for what building a blog can be like and I loved it. I really enjoy writing, I enjoy building things, and I really like the challenge of trying to build a business online. Writing a blog provides me with an opportunity to exercise all those mental muscles in one place.
If you want to start your own money-making blog take a look at my step by step instructions.
So in late July 2020 The Saving Dude was launched with the intent of showing our readers how to increase their net worth by tracking basic information month over month. In addition, we have and will talk about easy ways to save money, easy ways to make money, and a few other random topics that I might stumble upon that seem cool and relevant to talk about. I'll also reflect on some of the things that my wife and I have done to save money over the last few years. Some of these efforts have been difficult and not all saving is easy. The results of our efforts have added up to an additional $250,000 added to our net worth in the last 3 years. We have also paid down nearly $100,000 in debt during that time! So I'd say it was all totally worth it.
If you are familiar with The Saving Dude a key focus here is net worth and growing it over time. In the spirit of consistency, we will report out all of our expenses and income that count toward our monthly net worth. This will look slightly different than a typical net worth tracker as I will isolate income and expenses per month vs over time.
October was our most successful month to date. We crossed off some larger projects and finally gained a little on our net worth. I'm super excited about the month we had and it has helped up build momentum towards the end of the year.
We made our first DOLLAR on the site! We put up a solid $1.32
Net Worth - $1.35
This was a 4400% growth rate. If we can keep that up we will be swimming in the dough!
Total Hours Spent: 40 hours
Pretty similar to September, I worked on the blog for about an hour most nights, some nights more and some less.
Articles Written: 5 vs 6 in September
Most of my time was used optimizing and adding to the Side Hustle Guide and Starting a Blog. We will continue to add to both throughout November as these two topics should be driving organic growth for the site
$1.32 - Via Google Adsense
Alexa Site Ranking (new this month): 3,440,515 - I have no idea where we were last month, but I want to start tracking this. As far as I've read your ranking is not a direct reflection of your ability to make money from a site, but I need to get more traffic and build an audience so this will be a good measure for a year or so to see how my traffic is growing
Here is a quick list of what we are worked on in October:
Write a ton more material - while we didn't write more total articles the articles we did write took more time to ensure they were thorough and ready for our readers
Ensure all articles have some sort of ad within them to help monetize the site - This was key to the $1.32 we made during October
We are making good progress toward profitability and more importantly a good quality blog that people are interested in visiting more than once. If you write good content and notify your readers that is has been published then you have a good shot of attaining readers and creating profit from a blog. We are feeling really good about what we are building here.