So, I talked on my Instagram stories last week about making money. I had seen something posted on Facebook which got me thinking about our household income. About how, even in the short term, trying to get some extra cash into our home would be beneficial.
Of course, it would, that’s obvious.
But, if you could somehow earn an extra £300 a month, then that would be an extra £3600 a year. If that is then used as another mortgage payment, or added to an investment account to buy more holdings that pay dividends, then the impact could be huge. An overpayment of that size would reduce your mortgage, but also reduce the amount of interest you pay. If added to an investment account, you could buy holdings that you then receive income on for years to come, if you hold them for long enough.
Suddenly, £300 isn’t so small. The impact it could have is potentially huge.
So, I have set myself a challenge, which I’m hoping you will join me in!
I have set myself a challenge to earn an extra £300 in May. My May Money Making Challenge!
Now, £300 itself does feel a bit daunting, I’m not going to lie. But, if I break that down into a daily figure – £9.67 – that doesn’t seem quite so bad. Less than £10 a day, every day, for a month. Making money through various means, in the hopes of meeting a target.
And, if I don’t reach my target, then it doesn’t matter! At least I’ve tried 🙂
So, how am I going to earn this extra money?
I have had a think about this, and I have come up with these ideas:
- Selling things online. Either eBay or Facebook. Both have their positives and minuses.
- Answering surveys when I’m sat doing nothing. My favourite one is Swagbucks, but there are lots out there to try.
- Blog stuff – I could try and get some sponsored work; this is the least guaranteed.
- Use cashback sites when purchasing online. The only downside to this is that it can take a while to process.
- Matched betting – if you sign up here you can get £40 for free, which would be a good start.
That’s all I have thought about so far, but I’m sure there must be more. I think the best way to go about this is to get things for sale up on Facebook and eBay, as a starting point. We have got a few bigger items that could do with selling, if we can get round to it. But, definitely not £300 worth!
Related post: 3 Tips For Being A Successful eBay Seller
Related post: The Best Cashback Sites – Earn Money When You Shop Online
Related post: Boost Your Income With Swagbucks
Still, I’m up for a challenge. I have posted a YouTube video talking about this as well, to show how I’m going to track my extra income and what it might do to our budget for next month. I’m excited! And I’ve got my May Budget Planner all set up so I can track everything. I love a visual aid 🙂
Do you want to join me? What are you aiming for? Let me know below!
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I’m definitely up for joining you on this! £300 would get us the coffee table we set our sights on last night!!!
Hannah | https://frugalbridetobe.wordpress.com
Great to have you on board! What’s your plan to make the £300? 🙂
I’m going to blast out the surveys and get back on board with these as I’ve really slipped off lately.
Job spotter is going to be my most used I think as you can quite quickly ramp up some money on there, along with prolific.
I might try and put a few things up for sale but this never ends up well and then I want to try and reduce my budget to make savings here to. I’ve actually just scheduled a post to be published tomorrow about it and have cited your site if that’s ok? I can send you a link once it’s up if you want?