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
Do you have a side hustle income? How have you been doing?