July 2020 Online Income Report

July 26, 2020 in Wealth - No Comments

Hello lovelies! Welcome to my July 2020 online income report.

Preparing an income report

Introduction

As some of you may know, I started researching side hustling at the backend of May 2020. I generated an extra £69.21 in 4 days and honestly, I was hooked! 

Following, what I call my ‘practice month’, I started to invest more time into researching what ‘free money’ was available online and selected a few different ‘hustles’ to try. I set myself a goal of £200. Imagine how astounded I was when we totalled up £787.93 at the end of the month! 

During June 2020, I set up Liverichmediauk.co.uk as a blogging site in order to start generating passive income through advertising, affiliate links and additional blogging opportunities. 

A Reason to Celebrate

In July 2020, 3 very big things happened! 

The first, was a very important rebrand of my liverichmedia socials, which I updated in an aim to grow my following moving forward. The upside of this rebrand, other than the amazing play on words, was the growth in both blog and instagram traffic.

This means that I can reach out and help more people who are looking to improve their relationship with money for good. 

The second is I had started to identify gaps in the personal finance and Human Resources market, which could generate longer term profit as a business.

As such, I am in the process of exploring my options to develop my brand over the next 12 months and support both the UK job market and the Debt free community. 

The third, and I am sure that this was the real reason for you visiting the blog today, is our massive side hustle pot this month. Achieving a total of £1197 against a target of just £500.

Why have I Decided to Publish our Online Income?

It is important for me to share the details of our side hustles. This substantiates the information I share on my instagram page and builds credibility in my abilities. To be quite honest, I can also then look to sell my skills and services to my audience later down the line. 

It also means I can look back on previous months and understand where I am going right, drive additional resources or push myself to achieve more. 

In short, I want to tell you how you can make money and improve your longer term relationships with money. 

Here’s a breakdown of July (25 June-24 July 2020) online income streams and where it went. 

Matched Betting- £160.00

My first month matched betting had been slow, but this month I had generated £160 in the first 2 weeks. Admittedly, I haven’t touched matched betting since, but it is on my hustle list for August.

I have set, what I think is a realistic target of £150 for this. 

Matched betting earnings are completely tax and risk free and I use (OddsMonkey) premium services for £17.99 per month in order to guide me through both the start up and reload offers.

Casino Earnings- £470.00

I had an amazing start to July when I tried out Mecca Bingo via an OddsMonkey sign up offer. The offer involved depositing £10 and getting £30 free to play on bingo and £30 free on the slot games. 

In my 2nd game of bingo (using my initial £10 deposit) I won a house prize of £270.00 and nothing else. I was extremely happy with this, but then had my free slots too. After the initial wagering requirements, I also took away £70.00 in profit. So i hastily cashed out and stored the money away in my Monzo side hustle pots.

I am still smiling like a Cheshire Cat!

The only warning I would give with both matched betting and casinos, is to stop once you have completed the offers and only engage in the reload offers, as there is a higher chance of making a profit. If you cannot afford to potential lose your initial investment or cannot trust yourself to stop playing, then please do not play.

This month I lost £20 on these types of offers, but in the grand scheme of things it worked out well. It could however, have quite easily gone the other way if I had not stopped.

Market Research- £200

This month was a great month for market research. I was accepted for a new market research site that has no limits on the amount of testing/research you can be involved in.

The only ‘issue’ with this, is the payouts are small so this amount took a lot of time to achieve this.

Gift Vouchers- £60

Whilst this isn’t cash in our hands, I still like to count it. In July, the Bearded Wonder got a £60 Amazon gift card for taking part in a market research activity. We used this voucher towards some allotment and dog items (Not that they are spoilt, at all!)

Online Surveys- £98.00

I have moved away from using Qmee this month as the payouts were small for the amount of time invested. I have focused this month on Prolific and seen much better results.

Everything Else- £269.00

“Everything else” consists of everything else I have cashed out during the month as well as anything I have previously had in the pipeline that have subsequently paid out. 

This category is made up of the following:

Sign up Offers

Cash Back

Loose Change

Free Trades

Total before Expenses- £1197.73

This amount does not consist of the additional £150.00 I earned in overtime from my main job in July 2020.

Expenses- £203.99

This month I invested £186 into a new website and £17.99 into my Oddsmonkey premium account.

The rest of the side hustle earnings have been added to our monthly budget and allocated to a mix of debt repayments, sinking funds and emergency savings. 

August Goals and Beyond

Here’s my goals for the next 12 months:

September 2020– £500

October 2020- £500

November 2020-£500

December 2020-£500

January 2021-£500

February 2021-£500

March 2021-£500

April 2021-£500

May 2021-£500

June 2021-£500

July 2021-£500

August 2021-£500

Budgeting

Would you like to see more of this type of content in the future? Let me know your thoughts in the comments and at our socials we would love to hear from you.

Liverichmediauk@gmail.com

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