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Budget for Making Money Online

March 29, 2011

By Carol Amato

How much should I budget for making money online?

Your business model will greatly determine how much you budget for making money online, however, I will give a general rule of thumb.

BudgetFirst, you would need to decide on a niche market and register a domain name. I chose to brand myself first with my first and last name.com.

I use NameCheap and paid $9.98 for the entire year, which is a great deal.

Next you would choose a hosting company.  My site is hosted by HostWithCarol, and they charge $9.95 per month, for which I get unlimited space and unlimited registered domains.  I’ve messed things up more than once and their customer service is excellent.

When considering a budget for making money online, you would definitely want to invest in a professional autoresponder account.  This will make certain that you ensure your most valuable asset, (your list), to professionals who guarantee a high deliverability rate, and can assist you in running your business on auto if needed.

I have an account with AWeber, a professional autoresponder company, which is my favorite online business tool EVER…simply couldn’t do without it!  They offer a 30-day trial for only $1.

After you pay for a domain name for the year, you’ll have expenses of
about $26 per month – bare bones budget!

Keep in mind, there are a lot of tools that cost money that would really help you do things a bit more easily and perhaps faster that you may want to consider if possible.

Education – essential or optional?

Budget for Making Money OnlineWhen considering your budget for making money online, you may want to include a great course to get started with the essentials.

I invested in George Brown’s Google Sniper and learned what I needed to really boost my income.  I highly recommend his program and wish I’d found it sooner.

 

Earn While You Learn

If you want to earn money to put towards your budget for making money online, try offering services to gain some really quick cash.

Elane and OdeskHere are some sites to check out to make some cash in order to get going in Internet marketing: 

oDesk
Elance
Fiverr

See another valuable post called Gig Sites – Get Work Done Or Make Money

You can set aside a certain portion of your day or week to offer services while you build up your online business slowly.  This way you have some cash coming in to pay for your hosting and autoresponder each month. 

I’d love to hear your thoughts below.

Take Care,
Carol Amato

�Carol
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  • Jon

    Having a Budget for Making Money Online is a great idea!

    • http://www.CarolAmato.com/ Carol Amato

      It is absolutely essential, Jon.

      Let me know if I can help.

      Carol

  • Barbara Prescott

    The more I read and try to take it all in the less i seem to know. Just venting

    • http://www.CarolAmato.com/ Carol Amato

      Barbara, I think you are feeling the Information Overload Syndrome. I can relate, I used to have that syndrome! I would suggest you take one thing and focus on learning that one thing until you feel like you have a handle on it.

      Hope to help.

      Carol

  • http://www.myblenders-icecrushers.com Geri

    Hey Carol, As usual, you hit the mark. Can’t wait to make my 1st dollar online!!!! It’s getting closer.

    • http://www.CarolAmato.com/ Carol Amato

      Geri, let me know, and I will celebrate with you!!

      Thanks for stopping by,
      Carol

  • Stephen LaPre

    Very helpful. Thanks for taking the time.

    Steve

    • http://www.CarolAmato.com/ Carol Amato

      Glad to help, Steve; Thanks for stopping by. – Carol

  • http://www.raymaselli.com Ray

    Love reading the current info for the week as well reviewing the past articles. Between you and your suggestion of Justin that is all you need for a while for us beginners. Thanks so much. As Always,

    • http://www.CarolAmato.com/ Carol Amato

      Hello Ray,

      I appreciate your kind words, and I can remember and relate to what you are saying. It is a step-by-step layering process and takes time. You are doing well to stay at it, learning and studying and then taking action when applicable. Awesome!

      Thanks and have a great weekend.
      Carol

  • Kennis

    Always grateful for your honest advice

    • http://www.CarolAmato.com/ Carol Amato

      Hello Kennis,

      Thanks for your kind words.

      Thanks for stopping by. – Carol

  • john scott bettles

    Gday Carol,
    I am a74 y/o Australian pensioner, and I have been trying to make some money on the internet. Oh boy have I got burned!! However recently i had my web site set up, but i am now uncertain of what my next step is.The ever pressing problem of driving traffic to it, looms.
    I must thank you for telling me that my domain name is my house and my hosting is my land. That really made sence to me.
    I will keep at it.

    • http://www.CarolAmato.com/ Carol Amato

      Hello John,

      I think we all can relate …. as each of us has probably been through an experience or two where we were taken for a ride on the jolly Internet roller coaster by shady marketers. Not fun.

      You’re welcome for the information as I really enjoy helping people. Use the Search feature on the right side of my blog, to type in any term that you are wondering about. For example, type in “free traffic” and hit Enter on your keyboard. You will see all the posts on my blog about free traffic.

      Hope to help.
      Carol

  • Donald

    Hi Carol,

    I always look forward to reading your “Need To Know”,as it is always filled with great information.You’re right about Justin Glover though,his teachings have taught me alot also and ofcourse AM Live,and here in your posts.Thanks so much and God Bless!

    • http://www.CarolAmato.com/ Carol Amato

      Hey Donald,

      Glad you enjoyed it. I think you’re doing great to keep plugging away and learning all you can, awesome!

      Have a great day.
      Carol

  • http://stagedbysusan.com Susan

    Carol,

    The thing I most enjoy about your sharing is that you “get right to the point”. Many marketers go on and on as to how you don’t want to continue to struggle and repeat information over and over. Keeping you locked in to watch all the way to the end before the program is fully explained and the fee noted.

    Great info on the “budget”.

    Do you just “sell” the products listed on the right of your page as opposed to having a website dedicated to, say, weight loss products?

    Thanks for everything,
    Susan

    • http://www.CarolAmato.com/ Carol Amato

      You’re welcome, Susan! :) I try to be as concise as possible.

      I am affiliate for products that relate to my market – anything to do with making money online/making money from home.

      If I wanted to create a Google Sniper sort of site, I could register a domain and center an entire website around an affiliate product and do an honest review about it.

      Hope to help.
      Carol

  • Maria L.

    Thanks for your usual help and information you share with us, Carol! However, I must say I can identify with Barbara Prescott. What am I doing wrong or not doing at all? I have also joined the Justin Glover program, I hope this will help me. Thanks again for all you do for all of us, Carol! Blessings!

    • http://www.CarolAmato.com/ Carol Amato

      Hey Maria!

      Well, I know how you feel; I felt like that in the beginning. Justin’s course takes you step by step, however, so you should learn a tip/strategy then put that into action. Go the next instruction; then put that into action. You need to follow his advice. If he says decide on a market, decide on a market. If you are supposed to build a squeeze page, learn about that and get it done or outsource it until it is done….then move to the next things on the course…

      That is what I did, followed step by step. There is a reason why things are in a certain order. Trust the experienced marketer and move on and take action.

      If you get stuck, ask questions. :)

      I know I am making it sound simple, but it is simple…..may not be easy as there is a learning curve, but it is simple. :)

      Hope to help.
      Have a good evening.
      Carol

  • Christopher Chipoli

    That is so great carol, It is just perfect… Thank You so much Carol Love it!!!!

    Thanks a million
    Chip :-)

    • http://www.CarolAmato.com/ Carol Amato

      You’re welcome, Chip. Glad to help! :)

      Carol

  • haydn hughes bowen

    you are certainly in the minority carol i enjoy your e-mails

    • http://www.CarolAmato.com/ Carol Amato

      Hello Haydn,

      I appreciate your kind words and am glad you enjoy them.

      Have a great day.
      Carol

  • http://shelan.dealscenter.us Sheila

    Carol, So right on as usual. I love all you put out.

    Still so out to lunch though. I go over and over everything and never hear mention of how to set up a website. Will they help me at BlueHost? Just letting the entire world see my ignorance just in case someone else is clueless.

    • http://www.CarolAmato.com/ Carol Amato

      Hey Sheila!

      You are not ignorant, just learning new skills! :)

      You would go to your cPanel in Bluehost and install a free WordPress blog right from there. They have video tutorials that are easy to follow.

      The default theme that they give for free is a good one, so no money needed. Their FAQ and videos are awesome!

      Hope to help.
      Carol

  • obi

    carol,
    i am confused now i got a domain name i don’t know the next step to take. i don’t know how to get a product to promote. i don’t know how to start. i have paid for hosting , so please what next?

    • http://www.CarolAmato.com/ Carol Amato

      Hi Obi,
      The first step was deciding on a market/niche. Here is what I basically did to start earning money online!

      In a Nutshell:

      • I decided on a market. (What are you interested in, passionate about and knowledgeable about?)
      • I decided to brand myself and registered my domain CarolAmato.com with NameCheap.
      • I got a hosting package with Bluehost.
      • I created a free report to give away. (I did a search on Ezine Articles to find 5-6 great articles, and copied and pasted them into a Word doc [including bio and author's link to give credit, if not, this would be stealing] and then made it into a PDF for a free gift.)
      • I downloaded FileZilla and SharePoint designer to be able to make a squeeze page and send files back and forth from my computer to my hosting for stuff. – you can get them on Free Stuff on my blog.
      • I created a squeeze page using SharePoint designer.
      • I signed up with AWeber to start a list, make an easy opt-in form, to put the little code on my squeeze page so that when people sign up, they will be on my list in AWeber.
      • I uploaded that squeeze page to my host.
      • I created a signature in the different forums I visit to promote my squeeze page to start building a list.
      • I installed a free WordPress blog on my domain, right from inside the cPanel in Bluehost.
      • I put content on my blog daily.
      • I added affiliate offers on my blog.
      • I started driving traffic.
      • I sent emails to my list.
      • I collected money.

      Check out My Tools for links to these resources. Hope to help. :) – Carol

      http://www.carolamato.com/recommended-resources/

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