Last Updated on May 26, 2024 by Izza of SavingsPinayPH
This is long overdue, but still allow me to share my 2023 Side Hustle Income Report with you. This marks the fourth consecutive year that I am sharing my report publicly. If you’re interested, you can check out my previous income reports for 2020, 2021, and 2022.
I have to say, last year was a remarkable year for me when it came to my side hustle income. I landed a part-time freelance writing gig that paid me an incredible amount of money. Additionally, I received payment for speaking engagements. I am so excited to share with you my side hustle income.
Here’s the 2023 Side Hustle Income Report:
Before I delve into the details, please take note of the following important points:
- When I refer to my side hustle income, I am strictly talking about the income I earn from activities that I engage in outside my regular job.
- The figure I have provided for my net income takes into account all the expenses I incurred while running my business. However, I have not included the tax payments that I made. Please remember that as a registered business and freelancer, I am required to pay taxes.
Related posts you should read:
My First Year as a Freelancer in the Philippines
8 Important Reasons to Start a Side Hustle
7 Side Hustles I Did to Make Php 5000
My Side Hustle Income Streams
It’s great to have more than one source of income.
Having different side hustle income streams enabled me to:
- Have sure extra money;
- Attend to my financial obligations; and
- Accomplish my bigger goals in life
Below are my side hustle income streams for 2023:
Part-Time Freelance Writing Gig
I was fortunate enough to be offered a part-time position as a personal finance writer for a London-based firm.
The project lasted for five months, and I must say, it was an unforgettable experience. Though I wish it could have been a longer project, I’m grateful for the time I had. I worked for just five hours a day (5pm to 10pm), from Tuesdays to Thursdays and wrote articles on various topics relating to personal finance.
Freelance content writing was one of my earliest side hustles, and I remember being paid per word back then. I even worked as a ghostwriter for a while, can you believe it? My BS Journalism degree added to my credentials and has been helpful in securing writing positions.
If you ever need a freelance content writer, feel free to reach out to me at izza@savingspinay.ph. I’m not limited to writing on personal finance topics either, so don’t hesitate to contact me with your writing needs.
Paid Speaking Engagements
It’s been a while since I last updated my blog, but I’m grateful for the trust that companies and organizations have placed in me as a speaker for their employee wellness seminars. This year, I’m excited to see that most invitations are for in-person events, which is a refreshing change since the pandemic.
I absolutely love speaking engagements and take pride in offering a comprehensive service. My fee includes topic generation, slide creation, and the actual execution of the webinar or face-to-face seminar.
If you’re in need of a speaker for your event or would like to recommend me for an employee wellness webinar, please don’t hesitate to reach out to me via email at izza@savingspinay.ph. You can also visit my Invite Me as Speaker page.
Consultancy
I have been working on a long-term project since 2021, and it was renewed again, however it got paused. Sadly, I was only able to work for it for a month.
As a consultant specializing in personal finance, I assist businesses in growing their audience following. My services include offering valuable advice, devising content plans, and even executing campaigns.
If you’re a business in the finance field and require assistance, feel free to reach out to me via email at izza@savingspinay.ph.
Google AdSense
Last year, I managed to hit my Google Adsense threshold. It may not have been a huge amount, but I am still grateful and proud of my accomplishment. Yay!
My Side Hustle Expenses
Now let’s go to the expenses. Please take note that I am only recording my business expenses here.
Taxumo subscription
I rely on Taxumo for all my business tax filing and bookkeeping needs. It’s incredibly convenient as I just need to input the numbers and Taxumo takes care of the computations automatically. I also receive timely notifications for tax filings.
The only downside is that it can be a bit expensive.
But I can assure you that it’s worth the investment, especially if you’re not well-versed in BIR compliance. I’m actually planning to write an in-depth blog post about Taxumo soon. In the meantime, you can check them out and use my code SAVINGSPINAY when registering.
Adobe Subscriptions
In April 2023, I needed to subscribe to Photoshop and Acrobat for a short period, around 3 months. However, I made a mistake by choosing a monthly payment plan with an annual commitment to reduce costs. This meant that if I canceled before the year was up, I would have to pay an early cancellation fee. As a result, even though I wasn’t using the software anymore, I had to continue paying for the entire year. Looking back, I realize that I wasn’t thinking clearly and mistakenly believed that this approach would save me money.
Freelancer Registration
As shared on my biggest expense last year, I had to pay for someone to process my freelancer registration. I chose to pay for the convenience of avoiding a trip to the BIR and handling the paperwork myself.
Domain and Hosting Renewal – SavingsPinay
Maintaining a blog comes with a price which means I have to pay both my domain and hosting renewal every year. For SavingsPinay, I spend Php 5,279 annually for both domain and hosting. Not that expensive but not cheap as well.
If you’re curious about my domain and hosting provider, please check out Z.com.
Video Editor
I find it really helpful to pay someone to edit some of my videos, especially the longer ones. It saves me the time and effort of going through all the video files I’ve taken and I receive an edited version that aligns with my preferences.
This is particularly beneficial for my YouTube channel, where I aim to produce high-quality content.
I would really appreciate your support for my YouTube channel.
Canva Yearly Plan
I’ve been a Canva user since early 2018, and I must say, it has been an invaluable tool for me. As a blogger, I find Canva incredibly useful for creating eye-catching graphics and designs for my posts. The user-friendly interface and the wide range of templates make it easy for me to bring my ideas to life. It’s definitely worth it.
Domain Renewal – IzzaGlinoFull
For IzzaGlinoFull, I use GoDaddy as my domain provider. I don’t pay anything for web hosting as my content management system is Blogger. This setup has worked well for me, providing a reliable domain service without the need for additional web hosting expenses.
My Side Hustle Income Plans for 2024
During my last side hustle income I set some action items for my side hustles that I did set.
- Publish new blog posts
- Get back to newsletter in Q2
- Follow blog schedule
- Do Pinterest Marketing again
- Upload new YouTube videos weekly
- Work and release more paid products
However, due to several constraints, I was unable to achieve most of these goals. I only managed to publish one blog post on SavingsPinay and completely stopped email marketing. I also had no set blog schedule and was inactive on Pinterest. Although I did upload a few YouTube videos, it was not as many as I had initially promised. Lastly, I was unable to release new paid products.
One of the significant roadblocks that I encountered was time management. I had underestimated the amount of time each task required and overcommitted myself. As a result, I couldn’t maintain a regular blogging schedule, which affected my content creation and consistency.
Overall, despite my best intentions and effort, I was unable to achieve most of the action items that I had set for my side hustles. However, I have learned from my experience and plan to take a more realistic and balanced approach in the future. I will prioritize my tasks based on their importance, set achievable goals, and keep myself motivated and accountable.
I want to celebrate how 2024 is going and share the following:
- I have been working on a long-term project that is set to begin in June 2024. This project has been ongoing since I started sharing my side hustle income in 2021, but it was put on hold last year. I’m pleased to share that it will be resuming next month, and I’m especially happy that the payment has increased once again.
- I published some new blog posts over my personal lifestyle blog.
- I am publishing regularly on my YouTube channel.
Since I haven’t done that much on my side hustle income plans last year, I am moving all of my action plans to 2024. Thus, here are my action items for my side hustle income this 2024.
Publish new blog posts
In 2024, I aim to bring my blog back to life by posting regularly and sharing engaging content. I miss the excitement I used to feel for writing, and I’m looking forward to reconnecting with that passion and providing fresh, interesting posts for you. Life got in the way for a while, but I’m determined to make a comeback.
Get back to email marketing
Unfortunately, I stopped sending newsletters in 2022, but I realize the importance of getting back to it. I am committed to making 2024 the year I will resume sending newsletters and reconnecting with my audience. Thank you for your understanding and continued support.
Follow blog schedule
I am committed to maintaining a consistent posting schedule and aim to share at least two new posts every week right here on SavingsPinay.
Do Pinterest Marketing again
For 2024, I am planning to dive back into Pinterest Marketing with the goal of significantly boosting blog traffic. I plan to start pinning on Pinterest whenever I have a new post and do the same for past blog posts.
Upload new YouTube videos
I want to continue creating and sharing content on YouTube. I’ve been consistently posting monthly reset videos, and I’ve found that I really enjoy the process. In addition to these videos, I’ve also started sharing some vlogs, which has been a lot of fun. I’m looking to expand my content and explore new ideas while maintaining my current posting schedule.
Work and release more paid products
I want to explore creating digital paid products. My goal is to start working on this project in the second half of 2024.
Final Notes from SavingsPinay
Despite my side hustle income being a bit lower compared to last year, I am still grateful for the opportunities I got. I am continuously looking for ways to improve and expand my side hustle income this year.