Side Hustles

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Last week I set a goal for us to make £100 in side hustle in time for the next blog post; I’m glad to say we made it! We totaled a very close £100.48 in side hustle income this week and learnt some lessons about selling online along the way!

Also, I’d like to proudly announce that as of today, I have cleared my family debt! It’s been a tough 4 months but I’m glad to have paid this back; I now only have my overdraft to tackle; and if all goes well I’m set to achieve my goal of paying this all off by the 30th November. Wish me luck!

This week’s side hustle earnings were all made through book sales which has given us a little more experience in selling items online – . Fi  has been listing her items on Ebay while I have been listing mine on Amazon, let’s see how they stack up against each other…

Speed of Sales

Ebay and Amazon have very similar traffic rank figures with Ebay slightly leading here. However, Amazon is well catered to books and e-books which leads me to believe that this may be the quickest way to shift our paper based friends. Speed of sales is  important with university books as there is a window of only 3 months in the year where students are likely to buy them. So far Amazon has worked well in terms of sales as I have managed to sell all three books that I have listed. On the other hand, Fi managed to sell one of her books within a few hours of placing it on Ebay!

Charges

Amazon charges an enormous 17.25% to the seller on the sale of a book (plus an 86 pence processing fee). However, the listing is permanent and will stay until the item is sold or until you take it down. For example: I sold a book at £39.29 but only made £28.65 after charges and packaging. Despite the commission fee, Amazon is often the best platform if you want to shift an item quickly at a fixed (and reasonable) price.

Ebay often offers some great deals whereby you can list items for free and pay just the 10% commission fee once the item is sold. If you don’t sell the product in your time frame, you can put it back up again for just 20 pence. You’re more likely to get a bigger bang for your buck with Ebay but it may take a little longer and you’ll have to keep an eye on your listings.

Charge for a £30 sale on Amazon

£6.03

Charge for a £30 sale on Ebay

£3.50 (Ebay) + £1 (Paypal) = £4.50

Additional Side Hustle Efforts

Today I listed my first copy writing gig on Fiverr! It is still early days so no orders but tomorrow I will be looking to improve the gig with the use of video and some extra information. I can imagine it is very hard to be seen on Fiverr and will need to do some research into where the demand is and what I can do to stand out with my shiny new (yet short of reviews) profile. I’ll keep you updated!

Fi has also stumbled across a platform called Swagbucks where you can earn virtual money by watching videos online. The virtual money can then be exchanged for Amazon gift cards (perfect for Christmas!). I’m going to look into how much work this would be to make it worthwhile!

What is your preferred selling platform?  Any exciting side hustles from you this week?

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First and foremost, I’d like to share this week’s side hustle income. A grand total of… £0.00. Yes I know, not the best start to our side hustle month and it certainly doesn’t stack up against last week’s £196.36, this week was a busy (lazy) week with some larger work projects along with birthday pleasantries.

A lesson in time management needs to be had here. Somewhat disheartened yet determined, here are some ideas I am plotting for next week’s hustles…

Fiverr.com

Fiverr is not just a great platform to make some quick cash, I recently listened to a podcast detailing how one guy made enough money on fiver to buy his own house! This gave me some great tips on how to build a solid stream of income from a Fiverr side hustle and I’m super excited to give it a go myself this week!

Working in the digital marketing industry has equipped me with a useful skillset that I feel could be quite a valuable gig. I’m looking to release two digital marketing gigs and one copywriting gig. I’ll let you know how it goes!

Have you tried making money on Fiverr? Any tips for a new seller taking the plunge?

Amazon – Selling Books

I have secured a potential £48.00 through Amazon sales this week but I am having issues with the account so cannot receive payment yet! Once this is up and running I’m looking to list the university books that Fi and I haven’t managed to sell yet. Amazon take a hefty margin of your sale, but you gain a permanent listing and it’s an easy to shift your old possessions. We have a total of thirteen books to sell (an approximate £240s worth of books) and I am selling one of these to a student this week.

Other Avenues…

This week I will be spending one night coaching which should give the side hustle income a little boost! We are also looking into the realms of opening an Etsy shop as an additional stream of revenue. Any tips on this would be great!

The goal for this coming week is to make an extra £100 in side hustles, list our books on Amazon and set up some gigs on Fiverr. Wish us luck!

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A new challenge in our Budget Breakaway is to try and make some extra money on the side. So as an experiment I’m going to share our side hustle income at the end of each week for 4 weeks. Our first week is off to quite a successful start so here’s what we did:

1. Selling our books

At this time of the year, university is in full swing again so it is the perfect time to try and sell our books to the new students. We thought the best and quickest way to sell the books was through a university ‘items for sale’ group on Facebook and we had a fair bit of success! We sold four of our books for a total of £115! We still have thirteen books left so we’ll try a little harder over the weekend and if we can’t shift any more the next aim is to take to Amazon!

2. Overtime

This isn’t the most creative of strategies but it’s certainly a quick and easy route to build some cash to help get out of my debt. I have managed to commit 6 hours of overtime this week which has added £63.36 to the extra income.

3. Coaching

On top of my full-time job I have the opportunity to spend some additional time as a parkour coach in the evenings. I spent 3 hours this week coaching which totalled an extra £18 to side hustle income.

This gives us a grand total of £196.36 for our first week of hustling! Next week I’m going to look into the potential work on ODesk/Fiverr and start to build a profile to gain some freelance writing/digital marketing jobs. I’m also going to be looking into some other weird and wonderful ways to make some quick cash throughout next week! Any other tips for starting to build a side hustle income?

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