Blogging is an attractive side hustle and full-time work-from-home job. One of the many benefits of blogging is provided you have a laptop and the internet, it is possible to begin blogging for free. As with most interests, this initial “free hobby” can soon become an expense. Thankfully, it can also make you a taxable income, which makes the outlay worthwhile.
Here are five expenses to consider when you start blogging for a living:
1. Website Fees
Although it’s possible to start a blog for free, once you being to blog professionally you need to use a paid service. As a blogger, you will need to buy a domain name for your blog. You will also need to pay hosting fees. Web hosting is where all the blog files are stored from PHP files to images. A good host will store your blog on a server that can be reached from the internet at lightning-fast speeds. They will also offer support for any hosting problems you encounter. With hosting, you get what you pay for so shop around. Don’t just go for the cheapest hosting as they will offer less support, but equally, the most expensive hosting is not always worth it. You will also want to pay for a template to make your website look professional and run smoothly. Some bloggers like to hire a designer for their website too.
2. Blog Insurance
As soon as you start learning money from your blog, you need to take out business insurance for freelancers. As an influencer you need insurance that protects you if a client, company or individual accuses you of damaging them through your influencing. Many brands and agencies will only work with fully insured bloggers. Look for insurance which includes cover for claims of negligence, defamation, intellectual property and copyright infringement, contract breach and breach of privacy.
3. Paying for an Accountant
Once you’re earning money, your expenses need to be in order. You will need to register as self-employed and keep a record of all your incoming, outgoings and expenses. Even if you’re earning under your current tax allowance, each year you will have to complete a Self-Assessment Tax Return. This can be time-consuming. Professional bloggers outsource their finances to an accountant. This frees their time so they can concentrate on making more money through their blog. It also offers them peace of mind that everything is done correctly. Many bloggers use an accountant to save money and free their time in doing tasks such as invoicing, cash flow management, etc. Accountants also help them become more tax efficient, help them avoid fines and penalties and identify areas for growth. Choose an accounting firm for small businesses that will let you cherry-pick the services required for your business to grow.
4. Invest in Courses
Technology, blogging and social media are constantly evolving and there is always something new for bloggers to learn. You can search for free resources and learn as you go along. However, professional bloggers know that investing in their skills is worthwhile and offers greater rewards. As well as giving you the skills to run your business, you will also be constantly updating your continuing professional development. This will be of benefit if you ever look for journalism, social media or marketing work in the future. You could even study for an accredited course alongside running your for-profit blog.
5. Software Costs
As a professional blogger, you also need to consider software costs. These may include Microsoft Office, antivirus software, photo and video editing software, social media schedulers, email marketing resources and keyword research tools.
So remember, although blogging is an affordable industry to break into, once you begin earning money, there will be expenses along the way. Research carefully to make sure the money you invest in your blog reaps rewards for your bank balance.
Great reminders for any new business