This post may contain affiliate links.
Welcome to my very first Unconventional Income Report!
This is my space where I will show you every month how I am earning income outside of a traditional 9-5 job. Because I’m still in school my schedule is much too variable to allow me to have a normal job (outside of food service and retail which I’d like to avoid…).
For a large part of my time in college I made the decision to live on a combination of grants and (mostly) student loans. This was quite clearly a terrible idea but I’ve learned from it and grown. Part of that growth was finding things that I could do around my school schedule to make ends meet and cover my “low for an adult” but “probably high for a student” expenses.
So, why am I getting financially naked on the internet?
The main reason is that I want to show that it is possible to earn a decent income, if only as a side-hustle at the start, from unconventional sources. I am of the mind that the gig economy is only going to get larger as people start to realize that there are other options than the traditional 9-5.
Partially for accountability, definitely. Sharing my financial mistakes on the internet is scary but also motivating. I’m motivated to do better, make better choices. By sharing with you I’m holding myself accountable to live by the principles that I’m sharing.
I’m also sharing because one of my favorite things is to read the income reports of other people on the internet. I love seeing the journey of a person through the money they found a way to make and things they had to do to get there. I love sharing in their wins and learning from their mistakes. And I want to be a part of that for you. So, without further ado, my numbers for June.
These are my “money in hand” numbers. What this means is that some of this is money that I earned in May but did not receive until June, and some of the money I earned in June I won’t see until July. I like to do my accounting like this because you never know when a payment will be delayed or disputed, and I’m trying to give the most accurate picture.
Change from last month:
The biggest change this month was choosing to stop driving for UberEATS. Although I enjoyed the experience of exploring my neighborhood and discovering new restaurants, the time it was taking to earn any money at all was constantly increasing. By the end of May, I was averaging only $6 an hour when considering the price of gas.
I don’t know for sure, but I would guess that the drop in delivery requests mostly had to do with an increase in drivers in my area. School had just let out for the summer and more people had time and the need for easy extra income.
I drove with UberEATS for a few hours at the beginning of the month when I needed a break from studying. After finals though I realized I just couldn’t justify the wear and tear on my car or the time costs anymore. Doubling down on my work through TaskRabbit with an increase in availability was the better option in my mind.
I chose not to do tasks during the week for TaskRabbit over finals because I thought it might be too much of a distraction. For the last 2 weeks of June though, I completely opened my availability with just a few days blocked out for pre-scheduled family activities.
I was SHOCKED to see that even though I only worked half the month, by including availability in the morning I increased my monthly income with TaskRabbit by 43%! Based on actual hours worked (approximately 19.5), I was able to average a little over $45 per hour. Not bad at all for a part-time side-hustle.
Going forward I’m going to trim down my job offerings on TaskRabbit so that I am only doing the more lucrative IKEA assembly tasks. I have found that there are fewer variables when it comes to those types of tasks as well which is nice for my peace of mind.
July will be my month of greatest availability which should have a decent impact on the number and length of tasks that I will be assigned. I have also changed the wording of my closing invoice so that clients are able to find my direct hire link easier. I am hoping that will lead to more repeat jobs but due to the nature of furniture assembly, it is likely that I won’t see any results from that for several months at least.
Take a hard look at how much time you spend on each of your side-hustles. When you have a combination of income streams it can be easy to lose track of how much money each is bringing in compared with how much time they take to complete. Even though in previous months the income both of side-hustles nearly equal, it was taking me literally 7 times longer to make the UberEats half as it was for the TaskRabbit half.
Goals for July
My big goal for July is to increase my TaskRabbit income to $1300. I will be available the full month with a few days off for family and friend functions. This, of course, does not mean I will be working non-stop for the full month, but an open availability will give my clients more convenient options to choose from.
I would also love for this blog to start producing a little something on the side. Although the upkeep costs are not very much, bringing in enough so that it can support itself would be wonderful.
That’s it for this month. I’ve been thinking about opening up this space at the end of the report to answer reader questions, but I’d love to hear what you think about it. Let me know!
Until next time, keep on adventuring and I’ll see you next month.