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073R | How to Make Money Online

A quick review of Monday’s interview with Jamila Souffrant, followed by a dive into seven ways to make money online.

What you will learn from this episode:

  • Brad is excited to have sold his house for more than asking price, after he and his family moved to a larger house, which is better for his family.
  • Is it better to rent v buy, taking into consideration taxes, closing costs, etc.?
  • Brad is headed to Nebraska to attend the Berkshire Hathaway Annual Meeting.
  • What does it mean to fail forward, as Jamilla talked about it Monday’s episode?
  • If you’re not failing, you might not be challenging yourself.
  • What considerations can help you develop and grow out of a failure?
  • How did Brad and Jonathan fail forward so far in their life?
  • Following up from episode 69R about starting a blog, how can you monetize your presence online?
  • Seven ways to make money online + a bonus:
    • Membership sites: charging a fee for access to part or all of the content on a website. Site owners have to find a way to provide value to customers.
    • Digital courses: create a course that lives online for customers to pay to access.
    • Create a product or service: marketing your preexisting business online or developing a service or product to be marketed on your site.
    • Advertising: use Google ads (or other advertisers) to put a banner on your site, from which you will receive a very small payment. Advertising is simple, but most lucrative when you have a high traffic website.
    • Sponsorship: an outside business or person will contribute money, to sponsor your site, product or services.
    • Listener/Reader Supported: consumers donate to the site if they’re finding value in the site’s content.
    • Affiliate Marketing: you refer products to consumers, and if consumers click on links or choose to purchase a product, your site earns a commission.
    • BONUS – grow your brand and watch what opens up to you.
  • Combine and overlap these methods to best interact with and monetize your site.
  • What is drop shipping and how did Brad use it to sell fire wood holders?
  • How can you find businesses and products to work as an affiliate?
  • The key to a successful online business: the purpose.
  • Why does ChooseFI opt for affiliate marketing?
  • Voicemail from Fritz at The Retirement Manifesto.

Resources mentioned (there’s a bunch of them):

Membership Sites

Paid Courses Mentioned in the show (for which we are an affiliate)


Listener/Reader Supported


  • Grit
  • Thinking Bets


Thank you for being a part of the ChooseFI community! If you want to support us, here are some easy ways:

1) Leave an iTunes review:

2) Use our page to sign up for travel credit cards

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3) Most importantly, find your friends, coworkers, and family members who may be open to this message and tell them about the podcast! (Episode 21 is a great starting place)

As Jonathan would say, “The FIRE is spreading my friends!”

Choose FI has partnered with CardRatings for our coverage of credit card products. Choose FI and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. American Express is a ChooseFI advertiser. Disclosures.
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