Check out my May 2020 income report from side hustle.
I am sharing this income report to show you how much side hustle money I made in May 2020.
In this month I got used to this new normality with lockdown rules and have tried to increase my effort to make money on the side, however I must admit motivation is still at an all-time low.
Despite that, I am still convinced having a side hustle is a great idea. A side hustle can help boost savings, cover some expenses or build an emergency fund.
If you’re healthy and safe, that is. We are already dealing with an unprecedented situation, so it’s ok if you feel you haven’t got time or mental space for this.
My results surely have taken a hit in the past few months, you can see all my previous income reports here, but that doesn’t mean I am going to stop.
I still want to document my journey to hold myself accountable and to show you it’s still possible to make some money on the side, even with literally no time commitment (or motivation to do it hehehe)
You might be wondering why you need a side hustle if you have a day job.
I get it, I was like you before.
But now I know that by putting in just a little bit of effort I can get results.
What’s even better is that I get to decide how much effort I want to put it. Isn’t it great?
Why do you need an income from a side hustle?
In 2019 we bought our first home and we obviously opened a lifelong mortgage that we hate, so every penny we save (or make on the side) goes towards overpayments.
Related: Are you planning to buy a house? We learnt so much in this process and have documented it all in the ultimate home buyer guide
Savings also plays a big part in our journey to pay off the mortgage early. We are very careful tracking our spend and budget our income every month, and we find creative ways to save money, like this thrifty lifestyle hacks or by finding fun activities to do without spending any money
Whatever your reasons, extra money on the side can help with anything you want and can provide you protection and freedom in your life.
Extra money can even help you build an emergency fund. (Find 10 extra ways to build your emergency fund here) or top-up sinking funds for upcoming expenses
Related: Beginner’s guide to sinking funds
I can hear you saying, who has got time for all this?
How to make money on the side
There are so many ways to make money on the side. You could turn a hobby into a side business or teach something you’re good at.
But not all money making ideas require particular skills. You could get a part time job, declutter and sell your old stuff, complete online surveys or learn matched betting. And these are just a few ideas!
My favourite are online survey, receipt scanning, matched betting and Etsy.
Selling on Etsy
I have recently opened an Etsy shop and I am loving it.
My shop offers printables that help you simplify your life. It is hard work to build a decent inventory, and it’s taking me so much time, but it’s great to see the results and positive feedback I am getting.
You can check out my shop here: https://www.etsy.com/uk/shop/frecklesprintables
By the way, I offer a nice discount to my etsy shop if you sign up to my mailing list, which will also give you access to the freebies library – double win right?
If you fancy getting the discount code and all the freebies available on the site, just pop your email address in the box below. I won’t spam you, I promise.
Matched betting is also a great way to make money on the side, however, with the sport being on hold in May, I haven’t really done anything with this side hustle. In previous months I made £200+ from matched betting, so it’s definitely something worth doing. Check this out to find out more
Receipt scanning apps pay you for taking pictures of the receipts from your purchases.
Simply log into the app and take a picture of the receipt; you might have to answer a couple of questions but it doesn’t take longer than 30 seconds top.
What’s great is that you can make money from expenses you would have made anyway!
Some of these apps 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 minimum payout, so you might cash out every few months.
Given how easy and quick it is to scan receipts I don’t personally mind if it takes a bit longer to pay.
I use quite a few, and with the reduced spending due to lockdown, I haven’t cashed out on any of them this month, but I am very close to it for a couple of them so fingers crossed I can cash out next month.
Survey apps pay you money (or equivalent points to be converted into money) for completing small tasks, such as responding to a survey, reviewing a product or watching a video.
Payout for each survey varies greatly, so it might take a while to make a decent sum of money. They definitely require some commitment and investment in terms of time, and we all know how hard it can be if you have a busy life!
However, if you can dedicate some time to it, this can be a profitable and easy side hustle, which you could do whilst watching TV or during your spare time.
In May 2020 I earned money from streetbees, onepulse and prolific.
Prolific is particularly good as the surveys are organised by universities. The payout is proportionate to the time it takes to complete the surveys and you won’t get screened out for not meeting the survey requirements (which is one of the most frustrating things when doing surveys as it sometimes happens half way through)
My side hustle income report for May 2020
One pulse $20 = £15.74
Streetbees = £10.29
Prolific = £18.87
Total for the month is £44.90
Not bad results for something I really didn’t fancy doing this month! This money will definitely help us reach our family goals.