Update! How to Be 20-Something & Make $112,000 A Month
Michelle started with multiple gigs to earn pay off her student debt fast and not live paycheck to paycheck. Now, she has 1 gig. She incorporates multiple streams of income into her blog to get things done. Crazy Fast Growth!
This post contains affiliate links.
First, I literally just had an interview with Michelle Schroeder from Making Sense of Cents about her work, how she does what she does, her why, etc. If you don't know Michelle, she is living this amazing life that she has chosen. I mean, she sold her home and travels the country with her husband in an RV and blogs about Finances. I think that in itself is something to be celebrated!
But here's the thing. When I interviewed her, like, yesterday, she was making $70,000 a month pretty regularly. That's what we talked about in the interview! How in the world did she do that??
But did you see it?
The reason for the update is because not only was she making $70,000 a month, but Michelle just earned over $40,000 additional for the month, pushing her monthly income over $112,000!
Aack! Who does that??
First, you should understand a little about her. Here are some excerpts from my original interview with her, and then there are some thoughts, which I have confirmed with Michelle on the big change.
Can you tell me about your initial side businesses?
At one point, I had many side businesses. I used to blog on the side, mystery shop, babysit, take surveys, sold items on eBay, rented rooms in my home, entered giveaways, and more. Side businesses and jobs pretty much consumed my life, and I still worked full-time as a financial analyst as well.
I did all of this so that I could pay off my student loans more quickly and not be bound by a paycheck to paycheck lifestyle.
I'm so glad I found blogging, because it allows me to make a great full-time living, while also loving what I do.
What are your current revenue streams?
My only form of income now is through my blog. You can find the exact ways I earn a living in my monthly income reports. This includes: affiliate marketing, sponsorships and advertisements, and more. I do a little bit of staff writing every now and then, but not as much as I did last year.
One new form of income that I just recently started earning is through online courses. I just launched my very first course for bloggers, Making Sense of Affiliate Marketing.
My monthly income totals around $70,000 a month. I expect to be earning $100,000 and above on a monthly basis by the end of the year.
What are your biggest lessons now that you are able to look back?
I thought that creating more websites would help me to increase my income. That was a huge mistake! I have since learned that when I am more focused, I am able to have much more fun with my business, while earning a better living.
What advice would you offer out to someone else trying to have. it. all?
You can do it! Yes, it may take time and a LOT of hard work, but you can reach your goals. You just need to start.
But now Michelle has made $40,000 more?? HOW??
She created her own product.
It's that simple and that hard.
It always comes back to the product, and for Michelle, the additional $40,000 revenue was from her Making Sense of Affiliate Marketing course.
Which I actually bought in a heartbeat once I heard about it, because Rosemarie said I needed to! (And you know I just do what Rosemarie tells me to!)
Truth be told, within a few days of me taking her Making Sense of Affiliate Marketing course, I made real cold-hard-cash-money for my own pockets!
What I love most is that the product works for her AND me.
See, she has built this blog, this business, and has learned a few things or two. Now she has finally decided to teach others how to do what she does.
And I have to admit, as an entrepreneur mentor, I read enough business books and follow enough people to know that creating your own product is always the game changer.
I look forward to the day that I am there, too. When I have my own product.
But I am not there yet. I am okay with that. I am too busy pulling the rest of ... life together.
But in the meantime, I am more than happy to learn how I can just make some extra cash doing what I am already doing -- with a tweak here and there -- thanks to Michelle and her $112,000 lessons!