Current Stash

£5362.11

Week 20

20I’m out of the teens and into the 20′s. I was recently informed by a pregnant friend that if this project were a pregnancy, it’d be a coconut by now. Must admit, that didn’t make any sense to me either, but it seemed topical given that the royal baby is expected to be popping out any moment as I write this and the whole country appears to have become worryingly obsessed. There is even an app for the royal birth. I wish I was joking, but that is completely true.

So, is this particular coconut a nice, healthy and fat fruit, or is it a limp, shrivelled dry lump hanging onto the tree by a thread (rather like this tenuous analogy)? Well, I can’t help but feel at the moment that it is definitely the former. You may remember that last week, despite it not being the biggest profit, I was optimistic about the outlook for the future. Well this week that outlook proved accurate as I made a good profit and some significant progress for the future also.

My healthy, ripe coconut of a project making the most of the tropical weather.

My healthy, ripe coconut of a project making the most of the tropical weather.

The dog walking continues, and as predicted provided a good base rate of income to build from. Many of the usual suspects made small contributions also, such as research companies for surveys. Indie Field is a research company that I signed up with a while ago – they provide payment for surveys completed. The surveys are fairly exclusive and so takes a while to be accepted onto one, but they are well paid. I am now participating in a regular one about car servicing and repairs that pays £5 per time and only takes about 10 minutes.

I had forgotten to check the points I had collected on my stoozing credit card for a while, and was pleasantly surprised to see I have now racked up an extra £20 since I last checked. The card is now very close to being at the credit limit, so that will be the end of the returns from that, although it is not due to be paid off for another 13 months, so I can, for that time, continue to use the money to earn interest on rather than paying it off.

It can be time consuming, but it will be my biggest single income so far.

It can be time consuming, but building this site will be my biggest single income so far.

If you have scrolled down already to glance at my income sources for the week, you will be awaiting the mention of the elephant in the room. By far my biggest income this week came in the form of £125 related to my computer services start up. As part of this start-up I have been offering website building, and have had my first client. We have been in contact for a while, but he now has made the down payment for the work to commence. It is for a local business and we have agreed on a total price of £425, so this will be coming in over the next few weeks as certain milestones are met. It is a fairly cheap price for website design, but I wanted to get some work done so I can build up recommendations and referrals, and as this business has a sister company to it, that is certainly a likely outcome if this goes well. The computer services was one of my biggest investments, so I am still not quite at break even, but by the time I have received full payment for this project, I will be in net profit for the venture, and hopefully can grow it from there. There is also a small element of ongoing, relatively passive income from this in the form of the maintenance and hosting, which is minimal work but is paid yearly. It is not a large amount, but as I keep saying, developing passive income is the key to financial freedom as far as I’m concerned

In Summary:

A good week undoubtedly. I have had weeks where I have made more money, but the pleasing thing about this week is that I have reached a good total and secured an income source that will be coming in for a few weeks, and will hopefully be a springboard to more business that is far more lucrative than anything I have previously been doing.

Revenues in Week 20:

Less expenses of £35.58:

Week 20 Total: £268.13

Running Total: £3738.32

For a full breakdown, see the balance sheet.
The Week Ahead: 

With the dog walking I know I have a decent level of income. I also have some work in London scheduled for this week that should net me at least £100 – without wanting to be too mysterious, I will be writing about this later in the week, so you will have to wait to find out what it is then. Knowing that I have these two activities scheduled, I am aware that I will be spending a fair amount of the rest of my time on building the aforementioned website. Even with this, I hope to be able to still find time to source some other income, so will aim to make £250 in week 21

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Comments

  1. Catherine says:

    You seem to be onto some real success now well done.

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