If you haven’t seen already, I am saving for a wedding. I have just 18 months to save £10,000 for the wedding of my dreams. My first month of making/saving money was much harder than I had anticipated. So did I reach my monthly target of £560? Read on to find out.
Sponsored Posts – (£380)
I’ve been really lucky this month and a few sponsored posts have found their way into my inbox without much work from myself. Currently juggling a baby and finding time to write content is proving much harder than I thought it would be so having brands contact me direct has been a huge relief. Next month I’d love to be more active in sourcing sponsored content.
Reselling – (-£33.96)
Yes, you read that right. I am currently in the minus. I visited my local auction house and picked up 8 Yankee Candles to try and re-sell. When I arrived home I realised one of them was missing a wick so I was already down in stock. I have managed to sell one candle (to my brother) but I’m hoping I’ll be able to shift them just before Christmas. I can always drop the price on them as I do have them a little high at the moment but I’m going to hold out until we are further into December for those last minute panic buyers.
Affiliate Income – (£131.67)
I was doing so well with affiliate income before I got pregnant and 9 months of sickness ensued. I really want to work hard to ramp my figures back up again and start bringing in a consistent amount each month. I’m currently looking for more quality items to promote and will be diversifying the types of affiliate products I showcase on the blog over the coming months. If you would like to learn more about affiliate income you can join my affiliate marketing for bloggers Facebook group here.
Money Saved – (£100)
Miraculously I have managed to save £100 this month even though I am currently on statutory maternity pay. I’ve curbed my spending a heck of a lot recently and I didn’t cave too badly with the Black Friday sales. If I have needed to purchase something I’ve made sure to purchase through cashback sites or only buy when stores have discount codes available.
Money Won – (£250)
Cha-ching! I entered a retweet competition on Twitter with Kiss FM and Diet Coke and I only went and won it! We’ve won a holiday to Mykonos, Greece along with £250 spending money. I still can’t believe it but that massively helped my figures this month.
Subtotal before Expenses – £827.71
Expenses – £181.73
This month my expenses are slightly higher than normal as I paid for a year subscription to Tailwind as you get a reduced cost for paying yearly instead of monthly. I also have my monthly subscription to Profit Accumulator as well as Adobe Lightroom. I have also included 20% income tax in this figure.
Month 1 Total (after expenses) – £645.98
As my goal for each month was £560 I’m really pleased with this amount. I am aware that £250 of this amount was a fluke win so if I hadn’t won that then I wouldn’t have hit my target. There are lots of things I could have proactively done to increase my income like Matched Betting, Virtual Assistant work and selling unwanted items but I just haven’t had the time. I think I need to structure my time better and only take on the tasks that will pay well and stop procrastinating whilst I’m sat at the computer. I just get distracted so easily.
Goals for next Month
Matching Betting – I harp on about it all the time but I haven’t done a scrap of it this month. This is where I should really focus most of my time as Matching Bettings winnings are 100% tax-free so the more I can make here the more I will save overall. I offer Matched Betting coaching for free over on Facebook so if you would like to learn more about it then hit me up.
Sell those Candles – I’ve got 6 left to shift and I want them gone before Christmas day. I’m currently only advertising them on Facebook locally. As they are glass I don’t really want to send them by post but it’s something I might have to consider if I can’t sell them.
Surveys – I’ve recently found two new survey sites which I am trialling out to see how profitable they could be. One is proving very much worth my time but I haven’t cashed out my earnings yet so I will carry that figure over into next months income report and tell you all about it then.
I’ve also been reading a post by Mrs Mummy Penny who saved a whopping £7,500 in 6 months so I’m going to try and implement a few things she mentions to help me reach my goal.