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Side Hustle Income Report – August 2020

This post may contain affiliate links, which means if you click through to a website from a link found here on my blog and register or purchase something, I may get a commission at no extra cost to you. 

When I was weighing up whether to set up a blog or not, I was consuming a lot of different blog-related content – from Youtube, to Pinterest, to podcasts…and of course, blogs. Whilst a lot of it was based on niches, SEO, affiliate marketing and the like, there was one type of blog post I could never resist – the monthly blogging income report.

If there’s ever going to be a way to motivate me to consider something, it’s to show me a host of other people making at least five figures a month from the same project.

Thanks to strangers online sharing their blogging income reports each month, they motivated me to finally take the plunge and seriously look into blogging as a new income stream as I progress on my pursuit of financial freedom and diversifying my revenue sources.

With that in mind, I wanted to start sharing my side hustle income reports with you on a monthly basis. I currently have quite a few different side hustles on the go, from Amazon FBA, to decluttering on eBay, completing research studies on Prolific, and matched betting, all whilst working a 9-5. If I’m able to cram all this in, using only a few hours a week, I’m sure you can too – and just think what else you could do with that cash!

In August I was much more focused on laying the foundations for what I hope will eventually turn out to be passive income streams for me – namely, Amazon Private Label, and this blog you’re reading today. Because of that, my revenues are lower than I’d like – but I’m SO excited to hopefully launch my first product by the end of September on Amazon, and see how that turns out.

Nothing like launching two businesses within a week of one another eh?!

So, lets get down to it – what was I able make from side hustles in August:

Amazon FBA: £90.43

I’m ridiculously excited to report my first Private Label product is on its way from China via rail as I type. Having previously sold books on Amazon, undertaken Online Arbitrage and Retail Arbitrage, and even given wholesale a go, I’ve pulled back on all efforts to solely concentrate on Private Label, as I love the idea of building my own brand.

I’ll be reporting back to you on the progress of my first Private Label product and how I’m doing, but with an anticipated launch date towards the end of September, I’m looking forward to seeing how this goes.

What is a Private Label product?

It's where you find a manufacturer already producing a 
product, and 'private label' it with your own brand on top. 
You aren't inventing a new product here - your product already exists, but you create, launch and build your own brand with
that product included. 

*If interested in Private Labelling, please always check the 
product you're interested in isn't Trademarked

So where did this £90.43 come from?

I still have about 50 books in my Amazon account from my reselling days, so very occasionally I’ll pick up the odd sale. This was from selling four books I’d sent in to Amazon months ago, and whilst that won’t all be profit (you need to deduct Amazon fees and the cost of the product from this), it’s still a little bit of spare change. In my opinion, selling books on Amazon is the best way to grow capital in the early stages of reselling, and one of these books sold for £50.99 (after having only spent £2.50 on it!)

eBay: £8.99

We moved house (literally) the day before lockdown was announced in the UK, and unfortunately that means our new rental house is FULL of clutter I’d originally planned to cull once we had settled in. This said, I was able to sell one item of the seven I currently have listed, and my aim for September is to get to at least 20 items on there.

Prolific: £48.21

August was my first full month of using Prolific, and I’m an official convert! It’s the easiest survey site I’ve used, and whilst the surveys are sporadic, and by no means guaranteed, but it’s quite satisfying seeing I picked up an extra £48.21 during my free time this month.

I’ve even got my boyfriend on it, and we’ll often sit in an evening with it open on both of our phones, so we’re ready to pounce on any new opportunities that come our way.

Matched Betting: £520 (approx)

I typically spend about half an hour four times a week on matched betting, and made approximately £520 tax-free this month.

Some people are amazing at tracking their exact earnings, but I find it’s an area I need to work on, as it can be difficult to say for definite when there are so many variables. You typically know within 50p how much you are going to make on each offer, but either way, it’s not a bad return for such little input this month!

If you’d like to find out more about making this amount of tax-free and risk-free cash each month, head to my post where I’ve shared everything I know about matched betting.

If you’re looking to get started, I’d always recommend using Profit Accumulator, who break down every single step, for every single offer. I wouldn’t be able to do matched betting without them holding my hand, so sign up to their new member offer here.

Top Cashback: £2.60

This month wasn’t one where I spent a lot – there was only one birthday and I’m trying to avoid spending too much at the moment, but still, I was able to claim back £2.60 in cashback.

Please, if you take anything away from this blog post (apart from seriously considering matched betting as a viable side hustle), it’s to sign up to TopCashback and make money on your day to day purchases – you’re leaving money on the table if you don’t!

August total: £670.23

So, in August I was able to side hustle £670.23 (pre-Amazon and eBay fees). Without the help of matched betting, it’s not a huge amount, and most months I typically try to make a bit more, but all the time I’d usually spend on side hustles was spent on blogging and my new Private Label brand this month – both of which I’m hoping will become passive sources of income in the future.

Tempted to join me on this side hustle journey? Download my list of 50 Side Hustles You Can Start Today, and see what you can make this month.

 

2 Comments

  • John September 3, 2020 at 8:53 am

    Absolutely cracking hustle that. I stopped Matched betting after two good years with it and several accounts shut down..

    But, and here’s the good thing. I thought I’d test the water again this month and was amazed how many new bookies there are. Already racked up a nice little pot just on new sign ups so there may be another little run to start with it!!

    So cool you’re doing a private label product. Would love to talk about that one day if you fancy it…??

    Keep up the great posts!

    • stephpunfield@gmail.com September 4, 2020 at 8:50 am

      Thanks so much John! That’s great news you’re having some promising results with it – I’m currently trying to save as much as I can through matched betting, to then fund my next Private Label product. Free profit? Yes please!

      Ohh I’d love to, that would be amazing – I’ll be regularly updating my Instagram/blog with my progress, so once I’m smashing it (manifesting it over here!) I’d love to get involved. Thanks again!

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