January and February both felt like they dragged on. March? Blew by me in a blink. I can already tell by the way things are gearing up that I am in for a crazy, busy spring. I can't wait! Still, despite everything else I had going on (leaving my full time job, planning Awkward Money Chat Season 2) I managed to keep my head down and make a decent amount of “side hustle” income last month.
I have multiple income sources of income, currently: a full time job, rental income from my house, my writing services business (Beehive Content, get it?), and income generated from activities on this blog, (Click here to read how to start a blog of your own…) and from time-to-time random income from work-related bonuses, good fortune, or Ebay.
I've written before about diversifying my income, and (personally) I like not having all of my eggs in one basket.
Anyway, without further ado, here is the exact amount of $$ I made from side hustles in March 2015.
In March 2015 I made 3,750.00 in “extra” income
Just goes to show you that ANYONE can grow their income. Here's how my numbers break down. Please keep in mind these numbers are BEFORE taxes and other business related expenses.
- Freelance Income: 2950.00
- Blog Income (Advertising and Affiliate Income): 200.00
- Tenant Rent: 600.00
- “Other” Income: 0
Here's my favorite pie chart that describes how my income breaks out. Percentage-wise they're holding steady, even though I made about $1000 more in Freelance income in March than months prior.
Now, after taxes and other business expenses ($606.72 in March), I'll take home $3143.28. Some of my expenses include:
- Paying my VA and kick-ass Graphic Designer
- Business related technologies (Hootsuite, Paypal Fees, Elance etc.)
- Membership dues for a new networking group
- And paying my accountant for 2014 Tax Preparation
If you're looking to start your own side hustle, keep in mind that you will have some expenses, especially the more money you bring in.
Here's How My Side Hustle Income Has Grown Over Time
March 2015 – $3750.00 in Side Hustle Income
Given my exciting February news (Spoiler Alert – I'm leaving my job to work for myself full time!), I'm not sure how this “side hustle” report will look next month since my side hustle is about to become my full time income stream, and I don't want clients, etc. knowing how much I take home each month, but we'll see. I'm very excited and nervous about the transition.
Oh, and because of my side hustle success the past few months, I was able to make the final payment on my credit cards today, meaning I officially completed the goal I set for myself of paying off all my credit card debt in the first quarter of 2015!
I am on such a financial-empowerment high–I feel like I could kick ass at just about anything right now. Not having the credit card debt monkey on my back is going to make the transition into working for myself much easier financially as well!