Makers & Movers: Making Sense of Cents

This post may contain affiliate links. Feel free to view my disclosure here.

 

In this edition of the Makers & Movers series, we are thrilled to feature Michelle Schroeder-Gardner, the founder of the influential personal finance blog, Making Sense of Cents. With over a decade of experience, Michelle has built a thriving business that empowers people to earn and save effectively. Join us as we explore her inspiring journey, the strategies behind her success, and the valuable lessons she has to offer for aspiring entrepreneurs.

1. Introductory Insight

What is your name, and what is your side hustle or business?

My name is Michelle Schroeder-Gardner, and I run Making Sense of Cents, a personal finance and lifestyle blog that helps people earn more, save more, and live freely. I earn income on my blog through affiliate marketing, sponsored partnerships, my courses, and display advertising.

Briefly describe your business or side hustle.

I teach people how to make more money (such as by finding online jobs), manage their money better (such as by learning how to invest), and build a life that they love (such as by learning how to retire early or travel more).

How long have you been operating your business?

I’ve been blogging since 2011, so it’s been well over a decade now!

2. Business Journey

What inspired you to start your business?

I started my blog as a hobby while paying off my student loans. I never imagined it would become my full-time business, and I actually did not know that blogs could make money when I started mine. I just liked talking with the personal finance community online and hearing about everyone’s wins, such as how they were paying off their debt fast or making money online.

How did you transition from idea to execution?

At first, I just wrote about my own debt payoff journey. Then, once I learned that blogs could make money, I learned about the different ways Making Sense of Cents could make money. I took every free resource and webinar you could think of, and read lots of free blog posts. I spent almost no money when I started my blog, so I learned a lot through trial and error.

What were the initial challenges you faced?

In the beginning, I knew nothing about blogging – no tech skills, no idea how to make money online. It was a lot of trial and error, and I wasted a lot of time trying to figure things out.

3. Strategic Moves

What does a typical day look like for you?

My days have changed a lot. Some days I write blog posts or work on my courses; other days I’m traveling with my family while my business runs itself, and I am able to make semi-passive income. I usually start my day by going through my email inbox, though, as I really like to be at Inbox 0 (well, near it).

How do you manage and prioritize tasks?

I make lists, batch tasks, and focus on what truly moves the needle – like affiliate marketing and content that helps my readers. I try to be ahead in blog posts by around one month or more, so that I can enjoy writing and not feel like I am trying to publish content frantically.

What tools or systems do you use to run your business?

I use WordPress, Kit for my email newsletter list, scheduling tools for social media, and good old-fashioned to-do lists. I really don’t use that much.

4. Financial Insights

What was your initial investment?

I initially started my blog for free, on free Blogspot. But I would not recommend that at all. Eventually, I spent less than $100 for hosting and a domain name. Blogspot actually deleted my blog one day – they ended up giving it back and admitted to it being an error. But after that, I realized that I needed to be self-hosted so that it could never happen again.

How has your revenue grown over time?

I have earned over $5 million over the years, and my income has grown steadily through affiliate marketing, courses, and sponsored content. I used to share my monthly income reports (you can find them all right here (Blog Income Reports), but I no longer do that due to privacy reasons and because I felt like I was just repeating the same thing every month.

How do you manage cash flow and profitability?

I keep expenses low, outsource when needed, and reinvest in things that help my business grow. I have a small team, and I really like it this way.

5. Growth & Outreach

What marketing strategies have been most effective for you?

For me, helpful evergreen content and Pinterest have been effective. But, I do like to be active in many different ways so that my traffic is not focused on one single source. I also get traffic from Google, my email list, Facebook, and more.

Have you leveraged social media or other platforms for growth?

Yes! Pinterest has especially brought me millions of page views! I am active on Facebook too, and I have heard from many bloggers that this is a great traffic source right now. I am not active on any video social media platforms, but some blogs see success with that, too.

6. Challenges & Lessons Learned

What significant challenges have you encountered?

Staying ahead of changes like Google updates can be tricky and annoying. I’ve also learned not to compare my journey to others because everyone is different.

How did you overcome them?

I focus on creating authentic content, serving my audience, and diversifying income streams (and my traffic). I think getting traffic from many different areas is so key as a blogger – you just never know when one area may go down or there may be an SEO or algorithm update.

What lessons have you learned that you’d share with aspiring entrepreneurs?

Start small, stay consistent, and don’t be afraid to try new things – you don’t have to have it all figured out on day one. Also, join Facebook blogging groups to see what is working in real time.

7. Future Plans

What are your short-term and long-term goals?

I want to keep running my blog, grow my courses, and help even more people achieve financial freedom. I really enjoy running Making Sense of Cents and the life it has given me, and I’d love to continue to grow it and help more people.

Are there any new projects or expansions on the horizon?

I’m always brainstorming new ideas, whether it’s new blog posts, partnerships, or updating my courses. I am thinking about starting to sell digital printables as well, as I have heard such great things over the years about them.

How do you plan to scale your business?

I plan to scale by focusing on more semi-passive income streams and making sure my content stays helpful and relevant.

8. Personal Insights

How do you balance work and personal life?

I work when I want, take breaks when I want, and spend a lot of time traveling with my family. I definitely used to have much worse work/life balance, but over the years, I have spent a lot of time trying to improve it. Having semi-passive income streams on Making Sense of Cents, such as with affiliate marketing and display advertising, helps with this a lot!

What motivates you to keep going?

My readers’ success stories and my own journey from debt to financial freedom keep me going. I was able to pay off $40,000 in student loan debt, mainly due to the income I earned from my blog. I also really enjoy running Making Sense of Cents, so that is very motivating as well.

9. Advice for Aspiring Entrepreneurs

What advice would you give to someone starting out?

Just get started, you don’t need to be perfect. Be patient and consistent. I hear from so many people who are too afraid to start and come up with a list of 1000 questions, and then come up with more and more, and never actually start. You just have to start and learn as you go! Or, take a course and learn the right way from the beginning.

What do you wish you knew before starting your business?

That you don’t have to work nonstop to succeed – you can build a flexible, freedom-filled life.

How can one stay resilient during tough times?

Focus on why you started and remember that slow progress is still progress. Also, find other ways to grow because there are many.

10. Fun Rapid-Fire Round

What’s your favorite productivity hack?

Batch similar tasks together, because it saves so much time!

What’s a fun fact about you that most people don’t know?

I lived and traveled full-time in an RV and on a sailboat for years while running my business!

How can people follow your business?

You can find me at makingsenseofcents.com or on Pinterest and Instagram.