Thursday, June 9, 2022

How to make extra money

May has been a normal month for the sides hustles. The blog generated 40 euros during the period and a month before that (april) had generated 50 euros. When the treasury in Google Ads reaches 70 euros I get the payout to the bank account. In the end of June I will receive 90 euros in total from Google Adscence commercials. Besides that, my wife trims the dogs as a side hustle. She did it once which also gave arount 60 euros. 

My stock portfolio gives dividends, May generated 100 euros from Securitas and Nordic Paper. Lastly we received higher salaries in May. In Sweden we get salary increase from 1 of April, but the money is transferred in May retroactively. So in total, May has been a good month money wise. The extra money we make is spent on renovations at home or being reinvested to earn more money later.

In total I had a bit over 12 000 visitors to the blog in May, it has been stable for the last quarter and by changing swedish language to english should increase it. How about the savings rate? I pay a lot of mortgage back to the bank for the house loan. Besides that I paying slowly back the student loan and investing in stocks. Whats left in my wallet is used as an emergency fund. 

My savings rate for May has been close to 60% of the salary. To save 50% or more every month is considered to be a very good. Only a few chosen ones can save 70% or more each month. Whats recommended is around 10-15% in savings rate.

Each and everyone of you that reads this blog can make extra money. All you need to do is either work overtime at your job or do something outside work, like repairing cars, painting houses, cutting the lawn for neighbours, being a Santa Claus, selling strawberry plants, buying cheap stuff on internet and reselling more expensive, I even made money playing video games and when I reached higher levels I sold the accounts. There is endless posibilities on how to make extra money and I have not even mentioned internet. There is many ways to make extra money online too.

Do you have any side hustles that you want to share? What I focus the most is the big money. By for example changing the bank I got lower interest rates which saved me almost a 100 euros a month. Also I focus on my job, because if I get a salary increase, then its permanent. Lowering food costs is also important and these days, even electricity is important. Gas prices is not a joke either. Focus at big things first, than you can save alot of money.

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