Is there anything better than waking up on a Monday morning knowing that it is a bank holiday? I know that I can take any day off I feel like, but enjoying a bank holiday feels lovely. In this week's instalment of Monday Money, I am excited to tell you that we have put another £1,000 towards our £1,000 project!
What is the £1,000 project?
I got the idea for the name name from Sugar Mama TV on YouTube, but I have been doing this for ages. The £1,000 project is where we side hustle money, keep it in a separate pot and every time it reaches £1,000 we transfer it into savings.
How I keep track of the £1,000 project
Every time a side hustle pays out, I transfer the money into an e-savings account. The idea isn't to get interest on the money, but rather to keep it in a separate pot until we reach £1,000.
I can, of course, log into my banking app to see how we are doing, but I am a visual person and I have a 1% at a time sheet that I use.
https://www.instagram.com/p/Bgbsdz-HoB0
How am I making the money?
Every penny of this challenge comes from side hustles – that is extra income NOT from our business/wages. That's not to say that everything we side hustle goes into this challenge – we have made a few purchases along the way.
How have we made it?
- Matched betting
- Personal eBay sales – you would NOT believe the amount of stuff we have to declutter
- Online surveys
- Bulb referrals (you can get £50 for switching your energy to bulb, then an additional £50 when you refer your friends and family)
- Mystery shopping
Plus some other bits here and there.
How much have we made this year?
So far we have completed the £1,000 project 3 times this year, meaning that £3,000 has been saved.
I have a goal of completing the £1,000 project a massive 16 times this year, so we are definitely behind this target, but I'm not beating myself up. I'm still pleased that we have managed to put £3,000 into our special project!
WHY TAKE PART?
THE RULES
4 responses
I love the idea of a £1000 project! That must feel so good every time you reach your target 🙂
It really does!
Congrats!! This is a great idea, I think I might have to use it because it’s always fun to keep track of goals! Last year I made loads of money on side hustles but I didn’t really track it (except for each month) so I just got this amazement at the end when I added it all up haha, but I think it would be fun to think “oh well I’ll do this for an extra £1 to get to that next £5/10!”
I love keeping track on how much I’m spending.