If you want to make money online… should you focus on blogging or trading?
Here at Lifelong Financial Security, we believe that reaching financial security is accomplished through synergy. There is not just ONE thing you need to do to achieve lifelong financial security… but rather success comes from the interaction of various factors.
Just think about it…
Even if you make a LOT of money, that is not going to lead to financial security if you spend everything you make every month. If you spend more than you make, don’t invest or save and don’t have a plan, you are not going to be financially secure.
Any good financial planning needs to start with income. I mean, you cannot even start budgeting if you don’t know how much money is coming in. And at the Income stage, a lot of people feel they are just not making enough.
No matter what your income, without planning, it is easy for your lifestyle to “absorb” all your money. The financial decisions you seem to make end up spending all the money coming in… or in the worst case, even more.
Well, if you are spending everything you make, you are never going to get to the Investing stage, because there is never anything leftover to invest. And if you are not putting your money to work for you… you are really missing out on a lot of profits that really add up over time.
One way to figure out how to get that extra money you need for investing is budgeting. Look at the money coming in and look where it is going. Can you make any changes (you can live with), reduce your spending and have money left over to invest?
Another way to get money to invest is to make more money. Now keep in mind, you want to make more money to have money left over to invest. Don’t make the mistake of making more money… just to spend more money.
And one of the best ways to make extra money these days is online.
The Best Way To Make Money Online
Blogging Or Trading?
If you have been to other personal finance blogs, you know one of the most popular recommendations to make money online is blogging. Basically, you can start a blog online, get traffic to your blog and then monetize your blog with advertising, affiliate offers or by selling something.
And it should come as no surprise that blogging is a good way to make money online. After all, I am blogging right now. You are on my blog. So, I am actually doing this.
But is making money online by blogging the BEST way to make money?
I blog, so I understand everything it takes to run a blog successfully.
If you want to learn how to make money blogging, check out this page: Start An Online Business To Make Money
Blogging might seem like a daunting undertaking. And it can be. But it can also be tremendously rewarding financially, especially if it is part of a well thought out plan.
Trading online for profit can be extremely easy.
- Yes, there are some things you need to learn
- And yes, there are some things you need to do
- Of course, you need some money to get started (just like blogging by the way)
But taking everything into account, trading is a great way to accumulate wealth.
As a matter of fact, online trading combines two of the things that you need to reach financial security… making as much money as possible AND investing (putting your money to work for you to make more money).
I understand. When looking for ways to make money online, trading might not come to mind. Blogging is the obvious choice. But when you think about it, trading is an online business as well.
I personally treat all my trading accounts as a separate and independent business. I run these businesses so they grow, and produce wealth. Here are some of the reasons I recommend trading the same way I do:
- Very easy to learn
- Does not take a lot of time (I trade in less than 1 minute a day)
- Only requires a small investment to get started (You can start your trading business small and grow it over time)
- Very easy to learn
Combining making money online with trading Forex.
It probably comes as not surprise that if you COMBINE making money online with trading Forex, you can accumulate wealth faster. It is not about blogging or trading. Do both for the biggest impact to your financial future.
This combination is actually my plan:
Look, just starting an online business to make money can be life changing. If you only focus on blogging for profit, you’ll most likely by way better off for it.
Similarly, if you just get started investing or Forex trading, you can see huge gains over time.
But if you combine both making extra money online and putting that extra money to work by investing… you supercharge your earning and wealth building potential exponentially.
So, this should not really be a question of blogging OR trading. The best thing to do is blog AND trade.