You have made all the cuts you can make to your budget – now what? When that happens – you’ve got to figure out ways to increase your income.
You can do that by increasing your hours at work, but extra hours are not always an option. Okay….Plan B…
Well, you can get a traditional second job and that is also great, but what if you need flexibility for a number of reasons – children, school, your other work schedule or simply the demands of life.
You can start your our business. Frankly, we love this option, we think it is one of the best ways to create success – but the process can take time and you might be in a situation where you need income NOW.
For the last several months I have been exploring side-hustles to see which ones I enjoy, bring me the most per hour and that have the greatest flexibility.
What it would be helpful to know is how much time I have actually invested and what has been the payoff.
For the second quarter of 2019, here are the results. May was an awesome month and clearly the winner by about $500.00. Mostly due to a bank bonus that finally came in as well as getting several loan signings all at once.
April TOTAL: $418.79
Amazon Affiliates: $0.61
Amazon Flex: $54.00
May TOTAL: $1084.66
Digital Products: $124.66
Loan Signings: $365.00
Bank Bonus: $350.00
Curt’s Recycling: $70.00
Resale items: $150.00
June TOTAL: $619.95
Amazon Affiliates: $1.10
Affiliate Commissions: $236.40
Digital Products: $78.00
Loan Signings: $90.00
Curt’s Recycling: $20.00
Garage Sale: $104.00
My favorite methods so far to earn income are listed below and why.
Bank bonuses has been the one that has had the greatest return per hour. I spent possibly 30 minutes opening the account and maybe another 30 minutes altogether making sure I had the requisite transactions.
My second favorite, because it also had the lowest investment of my time compared to income received, was Affiliate commissions. Now this one may not be something that I can do every month because it depends on a couple of things.
Mostly, 1) I have to believe in the product and 2) it has to be a current offer and sometimes the offers are only for a limited time.
Third on the list is being a Loan Signing Agent. I am a notary specially trained to do loan signings. For instance, notarizing refinance paperwork, mortgage closings and other documents associated with real estate. Typically, I can earn $75.00 to $95.00 per signings which usually do not take more than one hour. These are signings assigned by a loan signing service.
There are opportunities to earn significantly more via direct signings. If you are able to build relationships with escrow companies, real estate lawyers and mortgage officers. You can earn between $150.00 to $200.00 per signing via direct signings.
Fourth on my list, has been Creating My Own Course and offering it as well. It returned fairly decent income for a first time/Beta release. But I have invested quite a bit of time and effort into making the course. I expect that will decrease after we have refined all of our content and converted it to an evergreen course. (Meaning it can sell repeatedly on autopilot.)
Altogether I have not spent more than 5-10 hours per month on my side-hustles and made over $2,100.00. Not a bad margin if you ask me!
There is still time to sign up for one of Julie and Cody’s income-producing side-hustle courses!
Don’t think you can have a side business that makes $45.000.00 a year? Well, then you need to go back and listen to this episode. Julie tells us all about how she was able to do that in
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