£10k Side Hustle Challenge: Month 7 Update

Time for another 10k side hustle challenge update! July was probably my craziest work month so far this year. Which I knew would be the case. However, I did underestimate the lack of time I would have to side hustle so my total is a lot lower than usual. But due to some income from months previously clearing in my account, I’m super happy with the amount I got paid from side hustles in month 7 of my challenge.

Right before I breakdown all incoming payments in July, let’s me explain exactly what my 10k side hustle challenge entails…

The Rules

This year I will have two main sources of income, my summer job and my winter job. And as this is a side hustle challenge I won’t be counting any earnings from these two sources towards my total. But everything else is up for grabs! Including any freelance income outside of these two jobs and my passive income streams like bank interest.

I went back and forth but have decided to count both cash income and voucher income towards the total. I only counted cash in my £5k hustle challenge as the goal was to match my gap year spending pot. But the goal for this challenge is to push myself and test the earning capacity of various side hustles. So I will be counting both cash and vouchers when I have received them.

The minute they hit my bank account/inbox they will be counted towards my total. Before then they exist in limbo and my daily hustle tracker. If you want to read all about how much I made from side hustles in July, check out this post.

Progress Reports

Since the start of this challenge, I’ve been sharing monthly updates which you can check out here…

January – £264.22

February – £750.22

March – £937.54

April – £1,769.47

50% Point Update

May – £2,071.05

June – £1,259.87

Ok, so now we’re clear on what the challenge is and the rules, let’s get into where the money came from in month 7…

Sharing Data = £2

As always, I got a £2 Amazon voucher from their app Amazon Shopper Panel. Check out this post to see what they’re all about and how to get started.

Watching Ads = £3.03

All the ads I watched in June became payable in the month of July so I cashed them straight out into my PayPal account. I use an app called WeAre8 to get paid a few pennies each month to watch ads. Never gonna make you rich but it would buy me a coffee so winner.

Cashback = £5.91

I love earning cashback on every purchase and that’s exactly what I did this month with the Chase card. Now I’m a credit card girlie, give me those Avios, except for when I’m not in the UK. None of my current credit cards have fee-free international spending and the points aren’t worth the extra fees. So I moved all my foreign spending onto my Chase card which gives me 1% back.

Bank Interest = £16.54

I have a handful of easy access savings accounts which hold my various sinking funds and emergency fund. These are currently earning around 4% and I love earning passive income from them!

LISA Bonus = £23.50

I will never stop raving about Lifetime ISAs. Truly think anyone aged 18-39 in the UK needs to have this account. The 25% bonus being the main reason I love it! I’m slowly contributing the maximum £4k this year and got paid £23.50 from the bonus in July.

Referrals = £38.41

Referrals are one of three ways I’ve currently monetised my blog and instagram. I tend to only share offers where both parties benefit financially. Always so thankful to anyone who uses one of my links!

Freelancing = £213.75

One of my main side hustles is working as a freelance VA to a few different clients. The work is super varied but enjoyable so I love it. I get paid on different schedules (dependent on client) so this money came from a mix of work from last and this month.

Affiliates = £221.16

Affiliates are another way I have monetised my blog and instagram. I only share affiliate links to products/services that I truly love and use. Affiliate income takes anywhere from 30-180 days to process so this income was made a few months ago.

Month 7 Total = £524.30

Challenge Total = £7576.67/£10,000

The total income I received this month was very indicative of the hours I put in. It’s a big thanks to the affiliate income that had been pending that the total is this high. July was a crazy work month so I didn’t have much time at all to side hustle beyond my freelancing.

Now like I explained in the intro, I’m only counting income that has physically hit my bank account towards my challenge total. Which means I have a bunch of income either pending or in balances which I can’t cash out yet. If you want an idea of how much I actually made in July (not necessarily paid) then check out this side hustle update next.

Are you doing a money challenge in 2024? I’d love to hear all about it!