2010 was great for me financially. In my first full year of working, I was able to save about 50% of my take-home pay from my job, I was able to boost my income significantly with this blog, and I moved from a crappy apartment into something a little more reasonable.
For 2011, I want to continue building on my success. While my work income will increase slightly due to a standard performance review and likely raise, it will also be boosted by the 2% Payroll Tax Deduction and an expected bonus in February that could total around 10-12% of my pay. So overall, my income could increase by over 15%, which sounds great!
That extra income should allow me to keep my savings rate high, even as I let a little more lifestyle inflation into my life. I’m already planning a few vacations, but am more than ok with that.
For this blog, the income from the past year has been great, but I know that the it may not be sustainable, so I will ride the wave and take what is given to me without setting a specific monetary goal. In the meantime, I will work harder to produce higher quality content, and I’d like to increase visitors both through links from other sites and from search engine traffic. The best way for me to do this is to network, promote others endlessly, be active in social media, guest post more often, and gather more attention from a wider range of blogs.
One specific way to do that will be to comment on other blogs. I don’t do that nearly enough, but it’s never too late. I read about 40-50 blogs a day, but I don’t respond and add to the conversation as much as I should. My goal for this year is to comment on at least one blog every day. It’s a simple goal, and yet I haven’t done it enough.
I also want to continue my activity within the Yakezie, supporting other participants and providing advertising opportunities if I can.
One option I have been considering is obtaining another website. I remember the first 6 months of blogging as being a lot of work for little reward and I don’t think I want to go through that stage again, but acquiring a site that’s been established for awhile could help me build up my online empire (cross out) business faster. I’m not ready to buy yet, but if an opportunity presents itself, I may decide to pounce on it.
Readers, what are your financial goals? How will you get there?