30 Oct 2015

You Can Make Millions Blogging Too

Nigerian blogger's million dollar house

Hello dear reader, it’s been a while. How are your finances...I hope going up? Ideally to assess one’s progress financially, it is necessary to do a regular audit of one’s finances. And I try to publish on this blog a regular update of mine and this blog's as to know if there is any profit/progress.
Linda Ikeji

Has Sijinius.com Made A Million Naira Yet?
So recently, someone asked me how much money Sijinius has made blogging. And I laughed.
People have seen the #1 most successful blogger in Nigeria -Linda Ikeji- buy luxurious cars and recently, a house in Banana Island VI, Lagos. Now, everyone wants to be a blogger. But they first ask other bloggers -like me- if we are making money at all. Of late, I have been receiving requests for help from friends who want to start blogging (or just started) and need tips on how to go about it.

Like I once mentioned, this blog should have been credicoins.com/blog if not that Hostgator refunded my money and so I came to this free platform guided by my blogging mentor Michael Olafusi. For the records, this blog exists mainly because of Credicoins Network- which will be Africa's largest savings and investment social (online and offline) network. 

I believe part of my life mission is to help bring about a more balanced financial Earth. The income inequality should be reduced as much as possible. Someone once said if we don't, World War 4 will be between the rich and the poor.

I have gotten more than a million naira blogging, but not from adverts
I started this blog with the intent of launching Credicoinsnetwork.com within 2 years. Presently, our programmers have spent two months developing our MVP (Silicon Valley jargon for your ‘idea-product’). And they tell me we still have a long way to go. No probs, I will remain busy while they are at it.

The total money Credicoins Network Limited has raised hitherto, is at least $10,000 (more than N2million), and all that have come indirectly from (my efforts on) this blog.

My present medical job was via a recommendation from one of our present investors who actually invested in Credicoins having responded to my call for investment on this blog. My new annual salary is in millions, so of a truth, this blog has made millions for me.

Back to Medicine temporarily to assist Credicoins’ operations
In the last one month, I have had to adjust to working again as a clinician in order to help the operations of Credicoins, since it will take at least 6 months for our product to be ready and we are yet to raise major funds from prominent Nigerian/Silicon Valley Venture Capitalists. My salary from Medicine is to enable me work for free for Credicoins (I only work 10 days monthly at my new job and spend the other days for Credicoins), thereby freeing up funds I would have taken as salary at Credicoins.

My personal finance goals
I still have my 3-year goal to become a personal finance expert. I am actively preparing for my ACCA papers- I have 14 to write- to that end. Also, this blog will start a video series on Youtube. I want to make videos that will teach people how to avoid being cheated by artisans, sellers and companies who we patronise for the everyday things we use such as gas cylinder, groceries, clothes, etc. All these geared towards helping Africans be more self sufficient and comfortable in life.

I believe we all have one life to live and we should maximize it and be successful living that life.

My savings and net-worth
Presently, I do not have any (emergency) savings in the bank at all because I have been ploughing everything into developing myself for the glorious future ahead, as well as our new company. Truth is that I have also ‘wasted’ millions in my (expensive) education, especially the hard lessons learnt in learning Forex as a beginner with a gambler’s mindset. Still, the most important investment anyone should make is in his mind by reading regularly. And your net-worth should not be limited to the amount you have in the bank.

Savings is a form of investment and investments a form of saving
Saving in a bank savings deposit account to earn interest is the most basic investment biblically [check Luke 19:23], so I am a big advocate for it. 

However, the interest rate you get is lower than the inflation rate in most countries. Nigeria's inflation rate was put at 9.2% while the average savings deposit rate is only 2%. In USA, the savings deposit rate is as low as 0.01%, while it is negative in the Eurozone to discourage savings. What that means is that in Germany, you will pay the banker to keep your money for you!

Compound interest is the key to making millions from a savings account (either RSA, ROTH, or HYAs). And in fact, it is the 'golden key' to great wealth.

Buying a land is a form of savings. Building a house is also a form of savings. Buying books is a form of savings as well as an investment. There is no excuse not to have savings in books, other investments, and also as money in the bank (savings deposit/high yield accounts) if you can afford that too. All of these works via the power of compounding to ensure you retire early and rich

In conclusion
The commonest and surest way to make money with your blog or website is to generate a ton of traffic and make money by selling adverts. The traffic Sijinius.com receives daily is not yet enough to make a million naira (about $5000) from Google Adsense/advertisement. However, we will get there someday...I believe.

I will make a blog post very soon to give general tips on how to make it as a blogger. It should have come under my earlier series on 40 different ways of making money online (which I suspended due to loss of my research articles when my laptop was stolen in January, and not had time to start afresh). However, I promise to be a more active blogger from now.

Thank you for reading. Be successful!

Still Linda Ikejji at new home

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