Taxes, Spending and Earning More Money Online

Sunday, February 7
There's nothing like starting a post with the word taxes to drive you away from reading this faster than a rattlesnake right by your foot. Nonetheless, I had to start this post with something that came to mind as I was preparing my taxes this week (well, not really preparing - just hunting and gathering for the tax guy).

Make Money Online by Saving MoneyIf you're like me you've probably found yourself spread across multiple marketing fronts online - from products, articles, affiliate work, blogs, seo, etc. As much fun as this can be (plus some work) you may have either forgotten or abandoned some of your work done in the past. This can get pretty easy when you get focused making money online with a new endeavor while giving in to some others that really didn't pan out.

What this comes down to in many ways is that you are probably spending too much money and could tighten you belt a little in 2010. Let's look at some of the core expenses and see where you might be able increase your profits with just a little effort.

1. Domains - ok, admit it - how many domains do you own? How many are actually realized with profits coming in? How many are old, fading and not doing anything more for you? In my case I currently have between 15-20 domains registered (over a 7 year time span). Now, not all are used - some have been parked for the future while others are old, and, pretty stale now. This is costing me about $275 / year in domain registration fees - of which I would say 4 or 5 are something I can part with. A simple savings of $50-60 a year - not to mention some future potential profits form domains that could be put up for sale due to their long history.

2. Hosting - I've mentioned this before but I'll say it again - hosting centers will eventually become a thing of the past with Google, Yahoo, Microsoft and Amazon building out their processing clouds. However, I do still use some hosting centers (which I will be talking about in my next article) for my more complex sites. Typically, hosting costs you anywhere from $4 to $40 a month depending on so many different factors primarily due to the options you need. In the past I had been using 3 different hosting centers and consolidated down to 2 a couple of years ago. Given that there are a couple of options available - a) find cheaper hosting plans or b) consolidate down to a single hosting company. Either way that could be a savings of about $100 a year.

3. Email List and Article Management - Always an arsenal for any internet marketer, email and article management typically costs about $150 to $250 a year. Usually, when people sign up they feel a bit tentative about the service and pick a monthly plan for about $15-$20/month. But, if they had picked the yearly plan they would have saved about 20% - or a savings around $40 a year. Doing both can net you about $80 extra a year.

So, let's add up the saving - $50/yr domains + $100/yr hosting plans + $80/yr for email and article marketing = $230 per year savings.

Like any budget sometimes just going back to your expense sheet is the best way to learn how to make money online. Saving can be earning too - don't forget that.


Post a Comment