In January of this year, I set out with the goal to earn $4,000 in side hustle income, and I’m happy to that I reached that goal a few weeks ago. A few people have asked for a post on exactly how I accomplished that, so here we are.
Earning side hustle income was a key component of my debt repayment plan. By January 2013, I’d already cut all of my expenses to the bone, and exhausted the earning potential of my full time job. The only way left to accelerate my debt repayment was to earn extra money to throw at it.
I had a few avenues open to me when it came to earning extra income, but the two that were the most flexible and that I enjoyed the most, were definitely staff writing and blogging. Fortunately, as of January 1st, I already had one staff writing gig in place. I was writing for Michelle at Making Sense of Cents, and I continued that relationship. I also was lucky enough to pick up a gig working with Lauren at L Bee and the Money Tree. These two staff writing gigs have made up about 28.5% of my revenue so far this year.
The rest of my side hustle income has been made through selling ad space on this blog – a combination of private ads and soon to be Adsense. So, my side hustle distribution looks something like this:
I Could Have Made More
I’m very happy with my $4,000 in extra income. I definitely could have made more. I’ve turned down several offers for extra staff writing recently, as well as avoided dealing with companies that I felt were too skeevy or didn’t have products that reflected my values. I could have killed myself working a zillion extra hours per week or I could have increased my blog’s profit margins by not hiring Erin to help me out.
If you are in debt, and looking to eliminate it was quickly as possible, I fully recommend finding any way to make extra money. Making extra money is so freaking motivating when it comes to paying off debt. I think it’s because when I set a goal to pay off X number of dollars per month, and I make extra money, I’m able to blow that goal out of the water. This motivates me to work even harder to get that awesome feeling of accomplishment back, and the healthy cycle perpetuates itself.
That said, I’m nearly out of debt, and while I could’ve worked harder than I did, I’m glad I didn’t. I did what I had to do when it came to getting out of debt (and you should too!) but I don’t think I’ll ever be the kind of person that works a ton of extra hours just for the sake of meeting a savings goal a little faster.
Don’t Have a Side Hustle? Get One!
I love this blog, I love talking about my feelings about debt and money, and I don’t plan on stopping any time soon, even after my debt is paid off. So, the fact that I’m able to make a little bit of money off of it is just icing on the cake. I might not kill myself working at it, but I’ll definitely keep this side hustle rolling.
If you don’t have a side hustle or a way to earn a little extra money to help meet your goals, I highly recommend it! There are a million and one posts out there outlining the ways to make extra money, but the bottom line is this: Side hustles (even baby ones like mine) help you get where you want to go faster than you can imagine, and that, is a very powerful way of thinking.