Money Lesson Number 14.
My favorite topic is side hustles! Why? Because what is more exciting than earning some extra money. What makes side hustles so appealing is that you can pick them up and drop them depending on your current financial situation. The six weeks I spent in Thailand was funded by my side hustle income of overtime and energy healing. My side hustles have provided me with a regular multiple income source. What I mean by this is I have created different income streams separate to my day day job, some I earn from monthly by doing nothing. Others I earn from what effort I put in.
Three years ago I created a budget journal. It was lock down, I was on maternity leave with baby four, two in national and one in secondary. So to keep some sanity I found Canva, and a plan started to form. I researched how you can self publish on amazon. Read all I could find on the internet, joined Facebook groups and got to work on my plans. So off I went, soon after this I saw on Facebook a lady called Karen, who runs Greg Mouse Publishing. As I am one of those who goes ‘Its a sign’. I contacted Karen straight away explaining what I hoped to achieve. She sized my book and did an amazing job! She suggested that I needed to get my name out there as no-one will buy a book if they don’t know the author. I purchased my name on the net and www,irishbudgetingmammy.com was born. So going on Karen’s advice I also set up my Instagram account. Put it this way, the book was out before my social media. First outlay costs was a total of 800euro on website an editing. I was stressing I wouldn’t earn the money back but I did and I created a nice little passive income. Passive income is something you a do lot of work at the start and then you sit back. I fully believe you need to invest a little to earn back. I am not going to bore you with everything I have tried but I will say I invested money and time to them.
Robyn’s Cottage. My biggest dream and the hardest to balance. Currently it is at a standby, I am preparing to develop this business soon but it is available in Sadies Gift shop in Longford. Now if I had an investor come in with 100k, then I would be moving along faster! Wink, wink lol.
Travel with Annmarie. This has been the most financially benefit to me out of all my side hustles. I earn commission on hotel booking, anywhere in the world, flights, tailor packages such as trips to India, South America, Africa, basically anywhere in the world! I can also book activities, car hire, cruises and travel insurance. My favorite aspects of my travel business is introducing it to others, be it looking for part time work, full time, whatever you want. The mentorship side is what I really enjoy as I love seeing people grow. Although, I have been the most dreadful Travel Blogger this year as I have gone nowhere but bare with me! Apart from the commission I earn through sales with my travel business, I am building a residual income. This means even if I stopped my travel business, I will receive over 10k a year as a passive income. This income can then be willed to my children as it continues on after I am gone. It is also my business with lowest outgoings and was the cheapest set up.
Energy Healing I studied back in 2017. I use two types of therapy, Theta and Access energy. Again I invested in the courses, over 1k and I paid for flyers etc. Again my I earned my investment back. Currently on a break from this.
My website earns money through my shop and google ads. I know we all hate them but I’d love and really appreciated! Also I have buy me a coffee. I earn through two ways on this. One is membership of 3 euro a month for excursive content and if I have ever helped you, and want to thank me you have an option to buy me a one off coffee!
Finally, pubic talks around financial well being. I love doing talks. I completed a post graduate course in NUI Galway on Mental Health Promotion. The stress of your personal financial situation is something that is under looked far too often. I don’t give ‘Financial Advice’ but I am here to advocate and help with simple tips and tricks to help the pocket.
In the words of Warren Buffett, “never rely on one score of income”.
