How Corey Plans to Make $30,000 in 2012

This post was written by Corey at 20’s Finances and Passive Income to Retire.

Considering that I started blogging about 6 months ago, I am sure that many people would think that I am crazy that I am trying to earn $30,000 from my online efforts in 2012. I know that the few people that I have told in person have gone away with a sense of disbelief – and I don’t blame them. There are very few people who can say that they have earned $30,000 from blogging in one year, so why do I think I can do it?

The Success I Have Already Seen

In the short time that I have been blogging, I have seen my blog income rapidly increase from just 20’s Finances. When I started blogging, I decided that I would give it all I’ve got early on to see if I had what it takes to make a successful blog. When I got a PR 3 after two and a half months, I not only did a happy dance as I tried to explain the significance of this recognition to my wife, but also started earning the big bucks.

In about 3 months from starting at my new domain, I made $1,000. If you were to average that out, this wouldn’t seem like a lot of online money. That would be about $333 per month. What is most important to consider is that the income is increasing exponentially. The first month I made just a few dollars from adsense and it blew up from there. In December, I was just at $1,000 for the month (which is a slow month for advertisers).

Expanding My Personal “Empire”

When I started to think of the possibilities of earning money from multiple blogs, I decided to expand my efforts and start a few other projects. I have yet to tell anyone (except my wife) all that I am involved in, so here goes:

1. 20’s Finances: I plan to continue to build up 20’s Finances. I hope that my PR and advertising will continue to increase. I think it should be manageable to maintain my monthly income from 20’s Finances at around $1,000 each month.

2. Passive Income to Retire: If you don’t already know, I started a second site. It documents my personal progress toward early retirement. I am working aggressively to build up backlinks for this blog so that it will be recognized by google as a reputable site (and get a PR of 2-3) in the next update.

3. 3rd Finance Blog: After I started imagining the potential income from two blogs, I couldn’t get the idea of starting a third blog out of my head. So, I started a 3rd blog that I am building up (at a much slower pace). I am choosing not to share it at this time for various reasons.

Getting Involved in Joint Efforts:

1. This site (Online Money Bloggers): Derek and I decided to start this site as a place for the $30k challenge. We are excited for what is turning out to be a competitive crowd as it will push us to put more time into our efforts.

2. Another Personal Finance Blog: It was about a month and a half ago that I pitched the idea to a friend in Yakezie. He had a friend that had stopped blogging on her site and so we agreed to buy it. We would both contribute to the site and bring in advertisers and then split the income from this site. At this point, the blog is only earning about $300 per month, but I expect that to increase with time. I imagine that it could start to earn $500-800 per month. In accordance with our agreement, I can’t release the blog’s name.

3. Carnival of Retirement: Joe from Retire by 40 and I decided to start this carnival site together. It is our hope that it will be a great resource for those wanting more information on retirement. When it eventually generates some income (which I suspect that it will), it will be a nice supplemental income.

My Approach to Diversify My Income:

If it already isn’t clear, my approach to earn $30,000 is through diversifying my efforts. I figured I could invest a lot of time in my main site and probably reach $1500-2000 per month eventually, or I could build up other sites and try to spread it out. Here’s what I am hoping to earn from each of my efforts. While they may not turn out this high, I have left myself some cushion so that I will still reach my goal.

1. 20’s Finances – $12,000 ($1k per month on average)
2. Passive Income to Retire – $8,000
3. 3rd Financial Blog – $3000
4. Online Money Bloggers – $6000 (my share, that is)
5. Shared Personal Finance Blog – $3000 (my share)
6. Carnival of Retirement – $2000 (my share)

Total: $34,000

I know that there will probably be some areas that I will fall short in this goal. I have left myself some cushion so that if I don’t reach my projected amount for 1 or 2 areas listed above, I will still make the 30k Challenge. I also do some freelancing efforts like staff writing and blog submissions (that I didn’t have space to include) that will add close to $2000 over the course of the year (if not more).

Do you think I will reach my goal? Is there an area that I am expecting too much?

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21 Responses to How Corey Plans to Make $30,000 in 2012

  1. Derek says:

    Looks awesome Corey! Sounds like we’re going to be pretty evenly matched in this challenge. Can’t wait to see the results after this first month! :)

  2. John says:

    Sounds like you have a great plan in place as well as the motivation to make it happen!

    • Corey says:

      Thanks John. I am excited to see how it plays out. I know that the first couple months will be below the $2500 average, but I hope to be above that by the end of the year to compensate.

  3. Niki says:

    It’s great that you are able to estimate over 30k, realistically. It’s not just a number pulled from thin air. Good luck to you this year and I look forward to reading about how you’re going to pull this off.

    • Corey says:

      Thanks Niki. These are estimations, but they are based off the success of my first site. I’m excited to see how it plays out.

  4. Matt says:

    Looks like reasonable expectations. I’m looking forward to watching how the leaderboard shapes up after the first month.

    As somebody who hasn’t really made any money from blogging (yet), I was curious how exactly you get paid from all of your different advertisers. Might be a good idea for a post.

  5. Holy wow, Corey! Sounds like you’re ready to go. Im really excited about this.

  6. Having 6 sites like that sounds like a recipe for success. Being able to diversify and draw in different audiences should help you to achieve your goals of earning much more quickly.

    • Corey says:

      Thanks CFM. That’s the idea. It comes with some cutbacks, but I have been able to manage it so far. I am excited to see some results!

  7. Good luck Corey. I’m particularly interested in how the bought site turns out. I think you’ve got a great good shot though and you are probably low-balling your opportunities to earn on your 3rd site.

    • Corey says:

      Perhaps, but I need to develop it a lot more before it will pull in any decent amount of money.

  8. I think that your plan is strong and well-prepared, Corey! You will be another tough challenger! :) I wish you the best of luck in this challenge, and I am confident that you’ll hit your goals.

  9. Oren says:

    Wow. I am very impressed that you have done all of this so quickly. Is there anything specific that you have done to make your sites so popular?

  10. Great plan Corey. You really have diversified what you plan to do which should increase your success rate. I am so proud of you and how well you have done in such a short time. Many of us haven’t been so lucky but that is ok. Best of luck with the challenge.

  11. Very Impressive Corey! You have really set the bar for the rest of us!

  12. Everyone’s making a new site! I look forward to yours as well!

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