In my report of our 2013 first-quarter results, someone asked if I could expand on my side hustle income. I know that I’m always curious as to how others earn their money so I’m doing this to give some insight into how I earn extra money online.
For the first three months of 2013, I earned $5,903.56 in side hustle income (money not from day job).
This is how I earned the money:
- 56% of the money was earned from advertising
- 12% of the money was earned from staff writing for other blogs
- 32% of the money was earned from managing content for GoGirl Finance
Of the total amount of money I earned, approximately:
- 52% went to pay for grad school (I have to pay upfront and get reimbursed 75% from my company when I complete each class)
- 25% went to vacation fund
- 16% went to pay off student loans
- 7% went for some fun stuff (pure barre classes, some tops, etc)
A big chunk had to go to pay for my grad school upfront. I will be reimbursed when I finish each class successfully, but I will then use the reimbursement money to pay for the next set of classes. For this reason, I won’t be seeing my $3,000 until I complete the program in March 2015.
Now that my grad school payments are on autopilot, I only have to save enough to cover the 25% difference between what I’m reimbursed and what I actually have to pay.
Going forward, here is how I hope my side hustle income will be split up:
- The first $375 to grad school fund
- The second $500 to vacation fund
- The rest to pay off debt and maybe every now and then a splurge on a fun item
Want to make money online? Read this post on what you need to know.
Do you have a side hustle income? How have you been doing?
22 comments
Thank you for sharing these figures with us all. Its good to know that there is money to be made in this niche. I bookmarked your post.
Wow, I hope I can get to your level in a year or two. It looks like you’ve done well for yourself!
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That was absolutely impressive of you. Your side hustle money has really gone a long way.
Wow you’re doing great!! I’d love to make more in side income. I make a little from staff writing but not much. I’d love to make 5k in 3 months! Keep it up!
Great job on your extra income! It sounds like you are making a lot of progress!
What is a Content Manager ? How did you learn how to do this? Is this something you learned by having your own blog ?
I love that you use some of your side hustle money for fun stuff. I think that’s important when you’re doing something extra.
I’m still relatively new to this, but I plan on spending 10% on fun stuff for the misses and me.
This is a great post. I am working on me side income as well. This is very motivating.
I love side hustle posts!. I would love to become a staff writer but have no idea where to start!
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There’s a lot of opportunity to make money online, which I really appreciate. So many sources are untapped. You’re doing great, I like how open you are with it.
wow, that`s a great job on the side hustle income! I think I need to do a breakdown on my spending, just to get an overview..
I love the concept of using side hustle money for your grad school fees… That’s an investment in yourself! Even better that your work will reimburse you 🙂
I am addicted to people’s side hustle posts!!! Keep them coming.
I’m really impressed by your extra income stream. It’s great that you’re able to pay down some additional debt while also setting money aside for vacation and other fun stuff (you know how much I love barre classes)! I’ve been trying to figure out if there’s a way I can make some additional money on the side. My husband does some freelance photography and its always nice when that money comes in!
You’re doing really well. What are you taking in Grad school?
That’s awesome! I’ve only made a tiny fraction of that!
Your side hustles are great! 56% in Advertising is a miracle to me. I literally make pennies on the dollar for my adds. Pretty much nothing.
Thanks for this! I love that you did a break down! I’m pretty torn between wanting to get the ball rolling on my own side hustle. Part of me feels like, I only have so much free time as it is. The other part of me feels like, there’s a lot of money out there to be had and I’m just sitting on my butt!
Great job Erika!
Thanks for the post. I’m trying to develop side hustle income. I understand it takes time. But it’s also a challenge, because I don’t treat my blog as a job. It’s my hobby. I do what I want with it, and I don’t want to tailor it to make money.
Oooh love this post! I need to do a more breakdown similar to this as well. That’s awesome that so much of it goes towards grad school. I’m using my extra money towards my student loans!