I get asked how much money do you spend every month to run your affiliate marketing business quite often and although I have a complete list of the tools that I use, I thought it would be a good idea to break it down a little more.
So if you're wondering the same exact thing, here is a complete post on what I spend each and every month along with the reasons as to why I do it.
Some of you might think I'm almost lying, while some of you will be amazed depending on your knowledge of business and the expenses it comes with.
Whatever the case may be, here is the exact amount I spend every single month, just to keep my affiliate marketing business alive.
No More Than $100/month
I usually keep track of what I spend but the cost will always fluctuate, just like it does with any physical business.
Compared to the bar I used to run that cost me over $5k each and every month, it is a lot less stressful knowing that I can pay for the whole year with just one month's worth of income.
Running a bar left me wondering if we would even be able to pay rent and oftentimes had me pulling out of my “just in case” fund to pay for power and other expenses.
Going from paying so much to paying so little was definitely a big change and only because they are really two completely different types of businesses.
So what do I spend that $100 on?
Let's get right into things as I'm sure you know there can't be much.
The Price to Get Started
This usually comes with several added costs but are usually one time fees, so I decided to throw them into one category.
The first thing you will need is was training.
Not just any training, but the kind of training that comes with help and support that is almost necessary to anyone who knows nothing about the affiliate marketing business model.
With that training, comes a domain name that will need some hosting in order to keep it running.
Depending on what domain provider you decide to go with, you can expect to spend anywhere from $11.99 – $15 for a year.
I personally go with Wealthy Affiliate domains, as that is also where I got the affiliate marketing training along with the hosting that came with my membership.
The membership within WA is going to cost you $49/month or $359 for the year and that includes the training and all your affiliate marketing needs.
They do offer domains and they will run you $13.99 for a .com, which is good for an entire year.
Besides that, everything else is covered as far as what you need for your website.
Every online business needs a website or you won't be able to do business as an affiliate marketer.
I already mentioned the price for a domain but I want to cover a little more on the other components of a website, especially for those of you who are a little more serious than others.
The next thing you will be in need of is going to be some website hosting, which goes hand in hand with your domain name.
You can usually find some cheap hosting with companies like Host Gator, but this is another thing covered with your membership inside of WA.
If you were to do it on your own, it would run you around $5/month and is great if you only plan on having just one site.
For multiple sites, platforms like WA will always save you some money.
Premium Website Themes
The next thing I spent money on was a nice premium theme from Studiopress, which is not necessary but recommended for the sole purpose of having more customization options.
It's complicated at first but they are all really just one theme but Mai Pro sits on top of the Genesis Framework, which makes things easier for future theme changes and any serious updates.
This cost me $129.95 for the framework and a child theme but once you get in, you can buy other themes for around $34 each.
You can always opt for their all in one package for $499.95, which gives you every single theme that they have listed, along with the Genesis Framework, and any future themes that they plan on getting.
This is what I personally use but there are many other theme providers that have great themes but all do come with a nice price tag.
Websites need to be built and that is another tool that comes with your WA membership.
Studiopress has theirs and every other domain provider does as well but they will cost you more money once again.
Besides these main components, you shouldn't have to fork out anymore money when it comes to your website's needs.
This is another optional tool and one that can and will usually come as your affiliate marketing business grows.
This involves email marketing and will require more training in order to grasp the concept and ultimately spend money on an autoresponder.
I started with Aweber and although I do think they can use an update, they get the job done and is really simple to use.
They offer a free trial for a month and you don't have to pay anything unless you want to continue using their service.
To do this, it is going to cost you $19/month but the price will increase if you do exceed 10k subscribers.
At that point, you should be making well over 1k/month with your business.
Again, this is not necessary but this is one of my monthly expenses.
This is definitely optional but one that I find helpful with designing headers myself as well as getting images for my sites without having to pay an arm and a leg.
I use a service called Canva and it costs me $12.95/month to get access to their premium package.
It is actually free to use but I pay in order to get premium images for only $1, which will cost over $10 if I were to get just one with Shutterstock and other premium based image providers.
So rather than spending over $50 every single month just to get images, I spend roughly around $20 to get quality images.
I do all the designing and whatnot for free on there, and you can also do the same without paying any money.
This is more for advanced marketers/graphic designers and I don't recommend it for those of you who are just getting started.
Now if you want to create some cool graphics for your blog, I definitely recommend this as it is a free service that allows you to create awesomeness for your site.
Keyword Research Tool
Affiliate marketing is a business that requires only a few tools and this is definitely one that you need.
I use a keyword research tool called Jaaxy and I spend $19/month.
As a member of WA, you get to use this tool for free but there are premium options that I do pay for being that I need more than just the basics.
This costs me another $19/month but it is very much worth it with the level that my business is at.
As a non-member of WA, you will have to pay that $19 if all you need is a nice keyword tool to help with your SEO efforts.
Besides the tools and resources mentioned above, that is about all I have paid and continue to pay.
Affiliate Marketing is Always Free
There are many recruiting based affiliate type programs that claim to be affiliate marketing but they are nothing more than a high ticket Ponzi scheme. that REQUIRES you to recruit others in order to make money.
On top of that, you will have to “pay to play”, which is very much not necessary if you are doing actual affiliate marketing.
It is always free to become an affiliate as you are simply selling other people's products in order to gain a commissions.
That's really all there is to it so before you pay hundreds of dollars to be apart of some Ponzi, please do your research or you'll regret it later.
In reality, I only need to spend $49/month to keep my business going and everything else is just an option that I choose to pay.
The domain is paid for a year and the basics are all free, to include website themes.
So if you're looking to start an affiliate marketing business of your own, you will definitely want to go with something like the Wealthy Affiliate.
Not only will you save a lot of money but you get EVERYTHING you need in one place, to include an amazing community of online entrepreneurs who will help you along the way.
Other than that, I spend roughly $100 each and every month but after writing this post, I think I might chop it down to just around $80 as I just realized that I don't need some of the stuff thanks to this post.
I hope this breakdown of my online expenses has given you a better understanding of what you will be spending if you do decide to get involved with something like affiliate marketing.
If you have any questions or if you would simply like to add your two cents, feel free to do so in the comments section below.
Thanks for reading and happy blogging!