The great thing about doing side hustles to generate extra income is that you can hustle on your own terms. The more hard work, time, and creative effort you put in, the more extra money you can make. You can hustle as little or as much as you want, whenever you want. It’s your extra money, and you can choose how you want to spend it. Instead of focusing on what ideas don’t apply to you, try focusing on different side hustle ideas that you can implement to work for your situation.
Once a month (usually on the 1st), I like to post a short summary of our personal and financial situation for the previous month. While I don’t often post articles, I am committed to documenting all of my side hustle income. Here I’ll share some of what’s been going on with our lives and our side hustles.
Welcome to August! Did you have a good July?
Earlier in the month, we participated in lots of events - two weddings, a few family gatherings, some kid birthday parties and just hanging out with friends. It was a beautiful time here with practically zero COVID-19 cases. Things almost felt “normal” again. Unfortunately things may change with the new coronavirus Delta variant infecting more and more people. I don’t expect another shutdown is going to happen, but social distancing and mask mandates are going to happen.The big financial update for us is that we have sold our rental property! We’ve had a good run since we purchased the rental property in 2015. We’ve enjoyed consistent monthly income, tax benefits, and home value appreciation. This last year has confirmed that we aren’t cut out for being landlords. It’s been a good financial experiment while it lasted. We do not see ourselves purchasing another rental property in the future.
Moving forward, we’d rather invest the time and energy towards simpler investments such as index funds. I’d also much rather spend my free time with my family instead of dealing with handymen and plumbers and tenant issues. While we will be getting hit with a huge tax bill, it will be offset by an inflated sale price due to the housing boom and hot real estate market. Our agent listed our rental property and already received offers within a few weeks. We’ve accepted an offer and have less than 30 days until closing!
Here’s our monthly summary of side income that we have generated in the previous month of July.
On 7.1, my wife received a $10 statement credit on her Chase Freedom credit card from Chase Offers. This was for $10 cash back on purchases of $20 or more made online.
On 7.5, my wife received a $10 statement credit on her AMEX Gold credit card. This card offers a $10 dining credit every month on select restaurants such as Cheesecake Factory or Shake Shack.
On 7.9, I received a $39 statement credit on my Chase Sapphire Reserve credit card. This was for their Peloton membership credit benefit, covering membership dues up to $120 until the end of the year.
On 7.10, my wife received a $50 statement credit on her AMEX Platinum card. This was for $50 back on purchases made at Saks Fifth Avenue of $50 or more.
On 7.19, my wife received a $25 statement credit on her AMEX Gold credit card from AMEX Offers. This was for $25 back on purchases of $99 or more for HBO Max.
On 7.24, I received a $0.21 cash back statement credit on my AMEX SimplyCash business credit card.
On 7.27, my wife received a $179 statement credit on her AMEX Gold credit card from AMEX Offers. This was for $179 cash back on a CLEAR membership, which is a registered traveler program that allows members to quickly verify their identities at touch-less, biometric security kiosks at the airport.
On 7.5, we received a net profit of $740 from our rental property. All back due rent has been paid back!
On 7.1, I received a $35 Amazon gift card from MNOW for completing a survey.
On 7.7, I received a $195 check from My Impact Network for completing a survey.
On 7.9, I received a $39 statement credit on my Chase Sapphire Reserve credit card. This was for their Peloton credit benefit for my wife’s Peloton account.
On 7.11, my wife received a $15 Gap gift card for completing a survey from Gap.
On 7.20, I received a $25 check from My Impact Network for completing a survey.
On 7.26, I received a $50 check from My Impact Network for completing a survey.
On 7.27, I received a $60 direct deposit from GLG for completing a survey.
We earned $313.21 from cash back income
We earned $740 from rental income
We earned $419 for completing online surveys
All of this totals $1,427.21 from our side hustles for the month of July! Keep hustling and investing my friends!