Just recently the term “side hustle” has popped up in Financial Planning blogs, Pinterest, Twitter, etc. as the term used to earn extra income.
Simply stated a side hustle is a way to earn extra income on the side of your current full-time job.
I’m always on the lookout for ways to earn extra income as a way to pay off debt. For money I’ve taught classes at a community college, waited tables, sold things on eBay and Etsy, sold wine in homes, sold Avon, took part in bank bonuses…if it’s legal, I’m interested.
So what does that mean for me in 2016? Well, since you asked….my goal is to make $6,000 in extra income for this year. As of March 2016, I’ve earned just over $500 with Ibotta, Ebates, Ebay, Etsy, credit card points, . Of course, my inner nerd came out and I was compelled to list how I am actually going to make the remaining $5500. You can see my plan below:
Bank Bonuses ($1200)
This is something sort of new to me. Last year I opened up a Chase checking, savings and credit card from an offer they mailed to me. Just for doing this, I was able to make $600 in extra cash. Little did I realize that there are sites completely dedicated to earning bank bonuses. (One is Doctor of Credit and another is Hustler Money Blog). With the savings and checking accounts I’ve already opened this year, I’m on pace to make $950 by the end of the summer.
Online Sales ($1500)
I have sold vintage items on eBay and Etsy for several years now. During the summer months, I scour garage sales and estate sales to find highly marketable vintage items that I can resell on eBay and Etsy. This can sometimes be a tedious process of taking photos and listing items…but patience pays here. I also have another Etsy shop where I help people market their Etsy shops. I’ve already made about $250 as of the end of March.
Ibotta, Ebates and Credit Card points ($500)
I hate credit cards, but I use one strategically to get the points. I also use Ibotta, the shopping rebate app and Ebates for everything I buy online. So far this year I’ve cashed out $200.13.
I’ve been toying with the idea of writing an Ebook about email marketing. I first need to write the book and then list it for sale.
I have done public relations freelance work on Elance and Upwork in the past. I don’t like this process because I feel like I get outbid by offshore workers who are willing to work for much less money. However, if I can score a “real live” person who needs some freelance work in marketing, public relations or graphic design I think $600 is an easy “get.” I’ll continue networking to work toward this goal.
Work bonuses ($1000)
If we hit our goal at my regular full-time job each person will earn $1000 in two $500 increments. I think this is doable, and hopefully the first bonus will come around July 4th.
This category includes any found money, mileage turned in for work travel, blog income, any photos sold or anything on Fiverr (if I can figure out what to sell there). I have made $88 from turning in mileage for work.