This is the income report from side hustle for January 2020

Check out my January 2020 income report from side hustle.

This is to show you how much extra money on the side I made in January 2020 with very limited time and effort. We all live a busy life and don’t have much time to add a side hustle or extra activities to our days!

By documenting my journey, I want to hold myself accountable, but also inspire you to start a side hustle, if you haven’t already.

(Want to see my previous results? Have a look at last month’s report here )

Why do you need an income from a side hustle?

We do it to achieve our long term goal to pay off the mortgage early.

This will be done by tracking our spendbetter budgeting, thrifty lifestyle hacks (like this one here), and by making some extra money as well.

Whatever your reasons (you might not have a big debt to pay back), extra money on the side can help with anything you want.

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 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 these are true.

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 you can see my results below

What is an online survey app?

Survey apps pay you a few pennies or a pound for completing small tasks, such as a survey, uploading a receipt or reviewing a product.

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.

This month I earned money from: Curious Cat and OnePulse.

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.

Have a look at my October, November and December 2019 reports to see how much you could easily make with just 2 hours per month.

My side hustle results for January 2020

Survey apps

Curious cat = £ 2.8

One pulse = £ 3.74

Matched betting

Sign up offers from bookmakers = £141 (including £17.99 Premium Account monthly fee)

Total is £147.54

January hasn’t been the best month for my side hustle, but I am determined to do better this month!

What about you, do you have any side hustles?