Is there anything better than waking up on a Monday morning knowing that it is a bank holiday? I know that I can take any day off I feel like, but enjoying a bank holiday feels lovely. In this week's instalment of Monday Money, I am excited to tell you that we have put another £1,000 towards our £1,000 project!
What is the £1,000 project?
I got the idea for the name name from Sugar Mama TV on YouTube, but I have been doing this for ages. The £1,000 project is where we side hustle money, keep it in a separate pot and every time it reaches £1,000 we transfer it into savings.
How I keep track of the £1,000 project
Every time a side hustle pays out, I transfer the money into an e-savings account. The idea isn't to get interest on the money, but rather to keep it in a separate pot until we reach £1,000.
I can, of course, log into my banking app to see how we are doing, but I am a visual person and I have a 1% at a time sheet that I use.
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Another £1,000 from side hustles, transferred into savings, kerching! I’ve got this tip I share ALL THE TIME (sorry if you’ve seen it a million times before) about taking a financial goal and dividing it by 100 and aiming for that 1% at a time. This is JUST from side hustles like mystery shopping, surveys, matched betting, selling our unwanted stuff on eBay (separate from our eBay business). Breaking it down into £10 chunks makes it much more achievable for us and this is our second £1,000 this year, which is awesome considering we dipped into it whilst we were in Orlando last month 🙈. This tip is what helped us to become debt free, save for a wedding and save for our holidays. The best thing is that you can do it for ANY amount! Say you wanted £500, each square would be £5. This £1,000 felt like a loooong slog, it took almost 2 months but I’m so glad we finally got there. I have no idea where the next £1,000 will come from, but we just keep on doing these side hustles in our spare time and suddenly it grows. You can download it FREE from my blog (there’s a link in my bio to take you straight there). #money #cash #dough #bank #goals #motivation #inspiration #inspire #lifestyle #success #businessminded #1000project #onepercent #inspire #motivation #life #passion #positivevibes #positivethinking #getcreative #savemoney #makemoney #sidehustles#getinspired #printable #freeprintable #moneygoals #motivate #debtfreecommunity #getdebtfree
How am I making the money?
Every penny of this challenge comes from side hustles – that is extra income NOT from our business/wages. That's not to say that everything we side hustle goes into this challenge – we have made a few purchases along the way.
How have we made it?
- Matched betting
- Personal eBay sales – you would NOT believe the amount of stuff we have to declutter
- Online surveys
- Bulb referrals (you can get £50 for switching your energy to bulb, then an additional £50 when you refer your friends and family)
- Mystery shopping
Plus some other bits here and there.
How much have we made this year?
So far we have completed the £1,000 project 3 times this year, meaning that £3,000 has been saved.
I have a goal of completing the £1,000 project a massive 16 times this year, so we are definitely behind this target, but I'm not beating myself up. I'm still pleased that we have managed to put £3,000 into our special project!