Update on Challenge $1000 2020!

Remember back in February when I challenged myself to make $1000 extra in 6 months? Well today, I thought I had better provide an update on that challenge, since you probably think I’ve totally forgotten about it.a banner for the $1000 challenge

August Challenge Update

As of today, I have made a total of $946.61 over and above my regular day job! That’s almost 95% of my goal! HURRAY!

As a reminder, this doesn’t include income from things like investments, cash back on my credit card, or income from high interest savings accounts. Just good ‘ole extra hustling here and there.

Since there is a full month left in the challenge, I expect to exceed my $1000 goal which I am very happy about. I have not fully decided where the money will go; my original plan was to use the money to increase my savings rate. That said, a new car is on the horizon for us (maintenance costs have creeped up on the old beaters as of late.) To be determined.

My feelings about this challenge to make $1000

This challenge was much easier than I expected. While I did do a fair bit of work selling items on Facebook and user testing, it didn’t feel like that much work. There were weeks when I did absolutely nothing. If I had put a bit more effort into it, I probably could have easily made $1500 or even $2000. If I could come up with another solid-ish income stream, it could be even more.

Next Steps

Revisit my side hustle list I made on the original post to make $1000, and action at least one of them beyond what I’m already doing. Set up another challenge (I may go back to a 3 month challenge to create more urgency and spur immediate action, similar to this one I did last year). Maybe introduce a stretch goal with some kind of incentive attached to it.

Have you been side-hustling to supplement your income? How’s it going? Tell me all about it in the comments!

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