Extra Income Challenge Update – December 2014 Results

Will You Accept The Extra Income ChallengeBack in October 2014 I issued the Extra Income Challenge to anyone who would accept it, including myself! In case you weren’t around back then, here is my acceptance of the challenge using my December 2014 goal as an example:

I, Lance Cothern, accept the extra income challenge. I challenge myself to make an extra $750 of income this month. I plan to make this income through freelance writing. I will report my progress next month on the next Extra Income Challenge update.

If you’d like to accept the Extra Income Challenge this month, simply replace my name with yours and change your income goal and how you’ll make the money in the statement above. Then, you can post it in the comments below or email your acceptance directly to me here.

Ideas To Earn Extra Income in 2015

If you’re looking for some ways to earn extra income in the new year, there are an unlimited number of things you could do to earn more money. Here are a few ideas I think would be great for this time of year.

  • Shovel or snowblow snow from driveways, sidewalks, etc.
  • Declutter your house and sell bigger items on craigslist or smaller items on eBay.
  • Offer tutoring for topics you’re knowledgeable in.
  • Sell unwanted gift cards for cash.

Of course, you can always go with the traditional ways to make more money like earning a raise, working overtime, finding a new, higher paying job or taking a second job.

Did I Meet My December 2014 Goal?

December had the potential to be a really slow month with the holiday hangover from Thanksgiving and the slow down around Christmas. Luckily, I did not fall victim to that slow down. In fact, I beat my goal for the second month in a row.

In December 2014, I was able to earn $1,017.30 from my freelance writing efforts. I actually didn’t face the slow down that I was expecting as my clients kept on the normal schedule despite the holidays. I didn’t mind, either, because it helped me blow my extra income goal out of the water this month.

My Goal For January 2015

This month is the beginning of a new year and I’m ready to kick my goal up another notch to the $1,000 mark for the first time. This shouldn’t be a stretch, but we’ll have to see what ends up happening with my freelance writing efforts to see if I hit my goal in January.

I’ll be focusing on maintaining my current efforts as I recover from the holidays and begin working on my plans for 2015. Hopefully those plans include even more extra income in the months to come!

How Have You Done With Your Extra Income Goals?

I like to try to help keep others accountable through these posts, too. Below are the people who publicly or anonymously challenged themselves to make more income in December 2014. I’ll update these as people share information with me or you can check the comments below as people self report their results.

  • Emily @ Evolving PF challenged herself to earn $1,000.
  • Anonymous 1 challenged themselves to earn $600. (They earned $719.11. YAY!)

As always, feel free to email me your acceptance of the extra income challenge this month or post a comment publicly declaring your goal in the comments below. Stepping up and challenging yourself is a great way to start to improve your finances in 2015.

Photo by: Tom_Bullock Text added by: Lance Cothern

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About Lance Cothern

Lance Cothern, a Certified Public Accountant (CPA) licensed in the Commonwealth of Virginia, is the founder of Money Manifesto. You can read more about him here or connect with him on Facebook, Twitter, Google+ or Pinterest.

Comments

  1. Great job exceeding your goal! I exceeded mine as well and earned $1200, despite being cut off from work offers for a few days during what I expected to be my ‘peak’ earning period. There wasn’t as much of a slowdown over the holidays as I had expected, though I am experiencing one now. Since I am starting a new job this month, my extra income goal will be smaller – $500.

  2. Not only is it awesome that you exceeded your goal, but you challenged yourself to keep up that level next month as well. I shot for $500 from selling things before my big move at the end of this month and nailed it =)

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