Monday Money #7: Another £1,000 ticked off

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Monday is here again, and I am really excited to tell you that since update number three, we've managed to side hustle an additional £1,000! Keep reading to learn more about the £1,000 project and what we are doing to make some extra money away from our business.

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.

May's progress

In May we have really ramped up our efforts, and the biggest impact has been from decluttering items and selling them on.

Decluttering and selling has made us the most money in the past 4 weeks to put side into this £1,000 project.

Mercari's Make It Rain weekend made a big impact, but I have also gone through the house and identified a LOT of items to get rid of. I've been listing them mostly on eBay, and saving items for a car boot sale too.

There have been some other bits coming in, for example, I got a £50 refer a friend credit from Bulb.

I am really chuffed that we've ticked off an additional £1,000 in just 4 weeks.

How will we make the next £1,000?

We have so much going on right now that this feels really daunting. However I know that we've still got a TON of things we can sell.

Tony is selling most, if not all, of his Warhammer collection off, and I have found some very hard to find Yankee Candles in my collection that sell for as much as £40.

We also want to do a car boot sale soon – we were hoping to do one yesterday but the weather forecast was rubbish. We probably have enough stuff to do two more car boot sales.

Apart from really focusing on selling and decluttering, I don't have too much planned. I've got a high paying mystery shop to complete and that's about all for now.

How much have we made this year?

So far we have completed the £1,000 project 4 times this year, meaning that £4,000 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 £4,000 into our special project!

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