Check out my February 2020 income report from side hustle.
I’m sharing this income report to show you how much side hustle money I made in February 2020, even with limited time and effort.
Having a side hustle is a great idea to boost your savings or cover some expenses, but I know it is very hard to add additional stuff to do in our already busy days!
By documenting my journey, I want to hold myself accountable, but most importantly showing you that it is possible to make money on the side.
If you’re not doing it already, you should definitely start now!
Let me show you what I’ve done in February 2020 to make £282.60 on the side of my very demanding day to day job.
By the way, this is not the first month I document my side hustles income reports – want to see more? Check this out
I love side hustling, even if I don’t have much time, because I know the results I could get.
You may be wondering if side hustling is a good idea for you and whether your day to day job should cover for all your needs.
Why do you need an income from a side hustle?
We do it to pay off our mortgage early. We recently bought our first home and we obviously opened a lifelong mortgage that we hate.
(are you planning to buy a house? Check out the ultimate home buyer guide)
Whatever your reasons, extra money on the side can help with anything you want and can provide you protection and freedom in your life.
I can hear you saying, who has got time for all this?
I understand, and just like you I also struggle with finding the time, that’s why I put together the top productivity hacks for busy people
How to make money on the side
There are multiple ways to make money on the side: part time jobs, reselling your old stuff, matched betting, create and sell your crafts etc.
For the past few months I have been focussing on online surveys, receipt scanning and matched betting, but I hope to add new ways of making money in the next few months!
What is matched betting?
As wikipedia states:
Mаtched bеtting is a bеtting technique used by individuals to profit from the free bets and incentives offered by bookmakers. It is generally considered risk-free as it is based on the application of a mathematical equation rather than chance. (Read full details on the Wikipedia website)
I know it sounds like gambling, but it isn’t. Trust me.
Before trying it out, I thought it was either illegal or way too complicated for me, as I don’t like sports and I am not very good with maths.
Turns out none of this is true, you don’t need to like sports or have any special skill. The only skill you need is data entry (is that even a skill?) and attention for details.
Thanks to a recommendation on Instagram, I signed up for a free trial with Oddsmonkey and I made around £40 profit from the free training.
Now I have a premium account, and I’ve been constantly making money each month. You can see my results below.
What is a Receipt Scanning app?
Receipt scanning apps are exactly what it says on the tin, apps that pay you for scanning the receipts from your purchases, simple as that.
The reason why I love them is that you can make money in literally 30 seconds from expenses that you would have done anyway!
Some of them only accept food receipts, from a grocery shop, dinner out, takeaway etc. Basically anything that involves food.
Some others accept receipts for any purchase.
Some of them pay every month, whilst some others require a bit more time to reach the threshold, so you might cash out every few months, but given how easy and quick it is to scan receipts I don’t mind if it takes a bit longer to pay.
What is an online survey app?
Survey apps pay you a few pennies or a pound for completing small tasks, such as a survey, reviewing a product or watching a video.
Therefore, to make some money, they require some commitment and investment in terms of time, and we all know how hard it can be if you have a busy life.
These survey apps give you points for completing surveys, that are then converted into cash.
Certainly, this side hustle can be extremely profitable if you can dedicate some time to it. However, my results are based on very limited use this month, probably less than 30 minutes in total, and all whilst watching TV or waiting for my train.
Have a look at my previous reports to see how much you could easily make with very limited time
My side hustle income report for February 2020
- Curious cat = £ 3.01 cash
- One pulse = £ 7.59 cash
Receipt Scanning apps
- Huyu= £5.00 Amazon voucher
- Snap My Eats = £5.00 Amazon voucher
- Shoppix = £20.00 Amazon voucher
Honesty alert here: it took me 9 months to make £20.00 on Shoppix. There is the option to cash out at £5.00 and at £10.00 but I decided to continue until £20.00 as a bigger payout was a great motivation to keep going .
One of the biggest objections I see online around matched betting is that after the sign up offers there are no money to be made, so I want to breakdown my earnings:
- Sign up offers from bookmakers = £49.26
- Weekly bet clubs and reload offers = £94.94
- Casino = £1.94
- Bingo sign up offers = £95.86
Total = £242.00 (net of the expense of £17.99 for the Premium Account monthly fee)
Total for the month is £282.60
I’m very pleased with the result for this month, and I am hoping to keep it up in the future!
What about you, have you started your new side hustle yet?