I want to start a website/blog that defines ways to save money in everyday life. How would I attract traffic & monetize this ? Where do I start ?

Step 1. Write 10 epic posts that mention the work of other well known influential people in your niche
Step 2. Reach out to these people and ask them if they'd give you their opinion on your posts. Get them to leave their opinion in the comments. Keep asking until you have at least 10 people who've left comments for you. They will also probably share you content on their social networks if it's good enough.
Step 3. Follow these people on Twitter. Find out who they follow, and follow them too. Start retweeting their tweets every day. Over time, they will start to know who you are.
Step 4. Syndicate your content onto other sites like Quora, Medium, and other high traffic sites that target the same niche as you.
Step 5. Use ManageFlitter to build your Twitter following. Reach out to more influencers on Twitter and ask if you can interview them. Most will agree. Publish these interviews and then promote the heck out of them. The people you interview will most likely also promote your posts.
Step 6. Repeat this process over and over and keep expanding your peer network via Twitter and LinkedIn.

This is how I grew my blog to 10,000+ visitors a month and it's still growing.

Pick a memorable, intuitive name that fans find easy to recommend to their friends on the phone (voice and text). Consider the name not just in the abstract but in terms of a domain purchase.

I keep waiting for somebody to use Pennies.net for a site like the one you describe. Full disclosure: I own it. But I'm pointing to it mainly by way of example and not as a sales pitch.

Take some time to plan for a cohesive brand identity. Your goals, site design, and written style should match one another and offer something clear to visitors.

These things don't lead directly to success (your content, publicity, and monetization strategy do that); but the lack of them hampers many a site or small business.

Good luck!

Hi,

Other than these great suggestions I'd add some tips following the Lean Startup Methodology:
1- Write great posts about the subject of your passion (quite obvious)
2- Transform them into an ebook
3- Keep writing to make this ebook evolve and improve your reputation
4- Sell your second version of your ebook at your site
5- Then start offering video pills with more tips about your subject
6- Later, offer your readers freemium webinars.

Just some ideas.

I hope it will help you :)

Great question. Instead of giving you my response I read the other experts' response to you and I back what Trent said.

The exception though, that i wouldn't write the articles first. Develop your content first. So that when you invite others for feedback and their support on their own case Studied they have good selection from you to read, and have something they like. There is no point in kissing media butt if once you have their attention you give them no reason to talk about you.

To your question:
There are two types of monetization (both are lifestyle businesses) :
1. Revenue through paid sponsorship. You know this, Google Adwords to begin with. Then if your traffic increased significantly you can pursue your own ad revenue. Similar to what Instagram influencers do each time you see them take a pic with a bottle of some pills or juice blender or something.except that this will be static image with referral/affiliate linkage to third parties ecommerce.

2. You focus on your niche right, but you take it a step further and find a niche whithin that niche. Like saving money on everyday life for who? Or for what goal? This allows you easier spreading of your idea because it eliminates your need for explanation as to what specifically or for whom? And thus makes your message clearer. But better yet it allows you to become an expert in the field! Is a niche, but once your an expert in that niche your universe expands! In this case your expertise and single minded niche dedicated traffic, will be leveraged to sell a specific product you 'endorse' by making every other article an article about a particular product that helps people save money. A lot of use use this by leveraging Amazon and posting a picture of the item with a link to Amazon affiliates and the posting this one pinterest, fb and even having Google ads! (Budget this depending on your item of sale)

The lifestyle business is not as glamourous as people who make money touting this make it seem. The idea is that if you are starting off with below average financial responsibilities , there is no need for you to fall into the cycle of getting into debt to 'grow' a lifestyle blog can give you what you need to live a good life because you have little to no debt. Once you grow it substantially you can make a lot of money and then it can be glamorous however for the majority of bloggers this is more of a weekend spending money type of deal. But trust me, the more your targeted niche is the better.

Give me a call if you would like to chat a bit more!

Todo #1: Since you specifically mention you have great passion for this, you might consider running a Podcast.

Pat Flynn has a good approach for one of shows.

If your shows run 10 minutes + you release weekly, then set aside one hour/month for recording + for a months worth of recordings.

Syndicate through iTunes.

A highly effective traffic generator.

Todo #2: Your topic lends itself well to question + answer format. Look into how to organize your content (which might be your Podcast transcripts + show notes) into...

Google Featured Snippet friendly HTML.

I have one client who stumbled onto getting a featured snippet showing up in Google + now the majority of her traffic comes through the related page.

Google "speed up wordpress" for a Featured Snippet example.

Once you have a little traffic, just start by adding AdSense ads to your content. Once AdSense is working, research other monetization schemes.