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I’m so excited to be kicking off Season 5 of the More Money Podcast with this stellar interview with Michelle Schroeder-Gardner from Making Sense of Cents. It’s not every day you get to talk to someone you’ve been following for years who went from ordinary personal finance blogger to online entrepreneur raking in over $100,000 per month (yes, I’m not lying, just check out her income reports for proof!).
Now, I want to preface that even though Michelle is able to earn six figures per month, if you’re not, that’s ok! This episode isn’t to say that you should be earning as much as Michelle and if you’re not you’re failing at life. This episode should serve as motivation and inspiration to earn more than you do right now.
Michelle didn’t start out making this much, she hustled to get where she is today. And she still hustles today to keep it going so she can continue RVing around the country, working from her laptop, and supporting her family.
So after this episode, I dare you to look at your current financial situation, start taking your debt seriously if you have some, and see if there is any way you can earn a little extra to help you move toward your financial goals that much quicker.
Here are some tips from Michelle below to help you get started.
Tips for Getting Out of Debt
- Take all of your student loan balances and add them up so you know the exact total. This will give you a concrete number to keep in your mind to work towards paying off.
- Find ways to cut back on your spending so you can put any extra money towards debt repayment.
- Find ways to earn extra money so you can pile that onto your debt to accelerate repayment.
- Set a deadline and be specific. Don’t just say you want to pay off your debt in a few years. Pick a specific date two years from now that will be your debt-free date.
Tips for Starting an Online Business
- Diversification is key to starting out so you don’t rely on one income source.
- Find out what works for you, and if you want to be a freelancer who works for clients or an entrepreneur who sells products or has a service for customers.
- In terms of blogging income, creating a product (like a course) can be a great source of income and the same with taking part in affiliate programs.
- Check out Michelle’s free Facebook group called the Making Sense of Cents Community.
- Learn how to start a blog step-by-step for free by taking Michelle’s free course.
- Learn how to earn money through affiliate marketing (Michelle’s biggest income source).