Publishing our online income also keeps us accountable to the goals that we set each month. It will also hopefully serve as a progress record in future months, when we can look back and see what progress we have made, as whilst we are making reasonable money online we have huge room for growth and improvement.
At the end of this month I left my full time job at an independent financial advisers firm in London, though it was reasonable money, I was not enjoying the job like I had expected to and will now be pursing my masters in law at the London School of Economics and Political Science. This is a huge change on our financial situation (as we are once again back to us both being students, plus the costs of masters tuition etc.) . Our goal over this next academic year is to dip into our savings as little as possible. In light of our new situation we have been trying to save as much of our paycheques as possible and this months online earnings have gone solely into savings in preparation for the academic year.
- August's income goal £430
- August's actual income £506
- Matched betting
- Goal £400
- Achieved - £413 (in 3 weeks of the month)
- As you can see matched betting is by far our biggest online income source. Having now officially left my full time work to pursue my masters, I am looking to make matched betting my main income source. This months earning reflected, a week off at the start of August (when I was on vacation with the family) and the fact I am typically out of the house 12-13 hrs a day on weekdays. With this in mind, I am hoping to get really intense with my matched betting in September as during the first few weeks I am at home all day but with starting class Im not quite sure what my workload will be like at the end of the month.
- Matched betting works by cashing in on the free bets many bookmakers offer. You do this in a risk free way by both betting for and against a situation (i.e. betting that West Ham will win and on an exchange site like Betfair betting that they won't win, therefore, balancing out both sides). I wrote an article earlier this month on how to make money with matched betting using Profit accumulator. I have only made one mistake (and it cost be about £1.50) so far and fingers crossed for no more.
- If you are interested in matched betting or maybe your still a bit on the fence check out this article on how you can earn £40-£60 (risk free) as a free trial and see if matched betting is for you.
- September goal - £650
- Goal £20
- Actual- £83
- Sold a cross trainer (that we got for free) for £40 on gum tree.
- Sold some old clothes on eBay for £43
- We are looking to move in the next year (and despite only living in our flat for 18 months we have accumulated far too much 'stuff' I am looking over the next few months to steadily clear it all out. I am also trying to keep an eye out on gumtree for free or very low cost items that I can sell on (like we did with the cross trainer).
- September's goal - £100
- Goal- £10
- Actual- £10
- I just do a surveys here and there as well as using the Swagbucks search browser
- Everything was a bit hectic this month and I definitely could have spend more time in this area, I was really hoping to surpass this goal but I definitely neglected this area a bit to much.
- September's Goal - £20
We also set ourselves some goals for the blog for August and we are going to include these in monthly income reports as well. With the aim to keep ourselves accountable to our goals but also to remember that growth of the blog is key to the development of online income sources. We are slowly but surely integrating affiliate linking and ads networks (we had previously been earning through google adsense but there have been huge issues with them since getting the new domain, which hopefully I'll get fixed soon)
We will also mention what specific strategies we have been invoking on each of the platforms and the success of those strategies for us. We would love for you to share with us what strategies you have found to be the most successful on the social media platforms.
- Goal-500 followers
- Actual- 520
- Our strategy has not really changed much from last month (or our post of increasing Pinterest strategy). I am sticking quick strictly to getting all the weeks pins scheduled on a Monday, allowing for meaningful time on Pinterest during the rest of the week.
- September's Goal- 750 followers
- Goal - 800 followers
- Actual- 890 followers
- This month we cleared out who we are following (as it used to be my personal twitter account). We also started following lots more people in our niche. We have been participating in the UK Money Bloggers weekly chat and found this a great way to engage with other similar writers.
- September's Goal 1,000 followers
- Goal - 100
- This month we started a new intsagram series #£5dinners where each week we will post a recipe to both Instagram and the blog that is healthy, tasty, and budget friendly. All the recipes are designed to feed 4+ for £5 or less. Prior to this series we had let instagram dwindle and rarely posted. I have also updated the account to make it much less of a personal account. We are currently considering whether or not to start making videos to go along with the recipes, so let us know in the comments if that is something you would like.
- September's Goal- 250 followers
Looking forward to more long term goals
- We would like to see my matched betting earnings average £700-800 each month and remain fairly consistent. Whilst it is perfectly possible to earn more than this I would like to focus my efforts into other areas.
- Continue with the growth of SavingScotts and respective social media with a view to develop a youtube element (especially for recipe articles). Tied in with this we would like to see growth in affiliate and ads earning, in a years time we would like to be averaging £500 p/m in this area.
If you are new to our blog, we are all about finding new ways for students and millennials to make and save money. Here are some of our favourite sites and products to help you out:
- Start a blog. Blogging is our side-hustle just over a year ago we didn't think I would bring us any income . You can create your own blog here with my easy-to-use tutorial. You can start your blog for as low as $3.49 per month plus you get a free domain if you sign-up through my tutorial.
- Save money with gift cards Whether its for buying clothes, your weekly shop or dining out use Zeek to buy discounted gift cards to get more bang for your buck.
- Use Swagbucks for your online searches. Swagbucks is a passive way to earn gift cards. Over the course of a year you could earn $500. Swagbucks is just like using Google to do your online searches, except you get rewarded “points called SB” for the things you do through their website. Then, when you have enough Swagbucks, you can redeem them for cash, gift cards, and more. Receive $5 for signing up today.
- Try matched betting. Matched betting is a great way to may easy money online. Despite the name it is not gambling and could see you earn £500-£1000 a month for only a couple of hours work a day see here and here. For your free trial head to profit accumulator or join the Facebook 'getting started' group.
- Sign up for a cashback site like Quidco. where you can earn CASH BACK for just spending like how you normally would online. The service is free too! Plus, when you sign up through my link, you also receive a free £10 bonus!