You finally have your affiliate marketing campaign humming and bringing in some cash. After all of the hours you spent developing your business, turning a profit is immensely satisfying and when the checks have three, four or even five figures, you want to use that extra income in the best way possible.
If your affiliate marketing program is your primary source of income, obviously the profits will go toward paying bills. If you’re working online just for extra cash, though, or you earn more than you expected, there are plenty of options for using that money. Consider one of these options the next time you get a windfall of cash thanks to your hard work online.
- Save it. Mom always said to save for a rainy day and the extra income from your affiliate network is the perfect source for a rainy day fun. Stock that cash away in a savings account, or get it working for you by investing it in your retirement plan or in a high-yield savings plan. Putting your profits into a retirement plan can actually ease your tax burden too, since whatever you put into an IRA or other retirement savings account is tax-free until you withdraw it.
- Pay down debts. If you’re like most people, you are carrying around at least some debt, in the form of a mortgage, student loans or credit cards. Take the profits you make from your affiliate marketing program and make an extra payment or two on your student loan, or pay more than the minimum on your credit card. Paying down debt not only eases your obligation, but saves you money on interest charges over time.
- Educate yourself. Are you confident in your online affiliate marketing skills? Do you know the latest and greatest tools and tricks in your field? The online environment changes every day, and keeping up with developments can keep the profits flowing. Take that hefty check and invest it in yourself, by taking a course, or attending a workshop or conference. Organizations like NAMS (Niche Affiliate Marketing Systems) hold regular conferences throughout the year that will give you the opportunity to network with other marketers and learn about new opportunities and tools of the trade. And as internet marketing continues to grow, colleges and universities are starting to offer courses and programs in everything from web design to SEO; use your profits to enroll in one of these programs and build your skills and knowledge base.
- Upgrade your equipment. You wouldn’t try to drive the Autobahn in a broken down Ford . . . so why would you try to turn a profit online using an old, slow or inadequate computer or website? Use your profits to invest in new equipment, whether a new computer, new software, or even a professional designer to make over your sites. Staying on top of technological developments keeps your business running smoothly and increases your profit earning potential.
- Invest in your business. If you already have the know-how and equipment you need, use your profits to build more business. Purchase targeted advertising to increase traffic to your site, hire some professionals to write killer content, or test out some potential new products to market. Part of running a successful business is investing some of your earnings back into the company to help it grow; when you smartly invest even a small part of your profits now, that money can double, triple or even more down the road.
Of course, one reason that many people get into affiliate marketing in the first place is to make money to support a goal or lifestyle. When you first start your business set a goal, whether it’s a new car, a dream vacation or anything else your heart desires, and save at least some of your profits toward that goal every month. When you meet your goal, go for it! Take the trip, buy the toy and fulfill your goal – you earned it!
Earning a profit is the ultimate goal of any business owner. If you’re lucky enough to make a profit after covering your expenses, think about how you will use the money wisely – and be proud of your accomplishment.
This post was written and provided by Christian Willis. Christian has been making a living from affiliate marketing and affiliate network for the last 3 years and is a freelance writer for Clickbooth.com.
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About Amit Shaw
There are many ways to spend but the steps described in this article are the ways a good business man would like to follow. This article will help the readers to ‘spend’ the profits in true sense other than ‘wasting’ it. Thanks for those beautiful tips
I think investing in business makes more sense with the affiliate money. If you want earn more money, learn the tactics from the BIG masters, spend some for their coaching programs.
It’s good to see a post on spending the money with affiliate marketing income. Good share.
Hello Amit,
Nice round of suggestion for what we should do when our pocket is full with money, what we should do when we get our checks. I’ve seen many people who gets their checks and spend their money like water in just one day. They never think about it that it took one month to get that check signed and we just spend our one month effort in just one day.
We should never do that, we should save our money for future. I like the suggestion of Amit Save your money for rainy day. And if you find it difficult to do that then just take a look at people who spends there whole month to earn a few thousands rupees, people who wash cars to make there living. people like them know the real value of money and they know the secret how to spend money and how to save it. You should learn from them.
Here i would like to remind the old saying of our culture. “Drop By Drop Pitcher Gets Filled.” So start your saving from today.
Thanks Amit for such nice article and opening peoples eyes who don’t care about money. I always keep my eyes on where my money is going and you should also do that. 🙂
Haven’t heard this anywhere else you must have done a great research on the topic. Thank you for helping me learn such a fantastic tips.
These 5 ways covers about every point where to spend the earns from affiliates.
My personal wish to spend my money is basically on purchasing some effective plugins especially SEOPressor for my blog and some recommended tools and Paid Posts.
Second option for me is to save some cash for future and the best way to do that is to hand my cash to my Loveable MOM. 🙂
These sure are good ways to spend those cash. Hey what about make some for charity? There are so many unfortunate people out there in our society that desperately need some form of financial help. Not asking to donate all of the money of course, just a tiny little bit from each one of you would be sufficient. Donation not necessarily must be in the form of cash, we could buy some daily necessities and donate them to old folks home and etc. would be great!
Best way according to me is to decide to purchase a product and save money until you reach the amount needed to purchase it. 🙂 I bought my Android SmartPhone and a Laptop from my blog earnings 🙂
My motto …. spend a little, save a little, splurge a little!! Keeps life interesting and should keep you motivated as well. Good article Amit!
Hey Amit! Nice post out here. Currently, I don’t earn much through Affiliate Programs hence whatever I get, I just renew my blog blogging tools (hosting, domains, emails etc). Is it a good way to spend?
Thanks for dropping your Comment Raaj. You did a great job mate. I think using your earning money in your business means superb way to expense your money. It will give you good return. BTW Take participation on our Current Giveway and Win Handy Backup Software. Thanks. Keep Visiting.
Thanks Amit! Yes, I’ll look into the GiveAway.
I’ll re-invest it to other projects 🙂
Me too, that’s best way to spend our money
Saving is one of the most important habit one should have.Luckily I am into habit of saving alot.Along with saving one should always do smart investments ie money making money.Thats how people become rich.First build up your assets and once your assets starts generating money then use them on your liabilities.One should be able to prioritize things which are more important and decide his spending accordingly.
I would like to invest that amount into my business and will try to make the most out it. Thanks for this interesting article.
I would like to invest that money into my next big project. But At least 30% will deposit into my bank a/c.
Have a nice day,
Abhijit
Hi Amit,
I have seen a lot of article on ways and tips to get into affiliate marketing and increase your earnings, but this is the first time I read on how to spend them, you have mentioned great ways to spend that money. But the best ways is 4 and 5, pretend that you never received this money and use it to upgrade your equipment, by needed software and invest in online businesses, eventually this way will make you more money. Thanks for sharing your tips.
I dont know why most of the bloggers earn maximum cash from affiliates. iam bit confused and not getting success in affiliates.