At the beginning of 2016 I had no idea I’d be writing these posts…
now I take it for granted that I’ll be writing my income reports at the end of every month. But now I get to review the entire year!
Back when I used a notepad instead of an app on my phone, I enjoyed looking back at the entries and the rambling plans I wrote down. Now, looking through my app data brings back the same kind of memories that would have been lost, and the blog posts are an even better way to tie the statistics up with our real life events. All that just means that I’ve become attached to my monthly money diary! I hope you find it useful and interesting too.
What did we make in 2016, and how?
January – £132.06
February – £47.98
March – £44.36
2016 Total: £1779.23
How was this all made up?
As I didn’t write these posts until April, I’ll just summarise the first three months’ activity here.
January – £91.20 cashback, £30.86 interest, £10 money found (I have no memory of that at all!).
February – £8.45 cashback, £27.53 interest, £12 online earnings.
March – £8.22 cashback, £30.14 interest, £6 online earnings.
- Interest – £709.35
- Bank Incentives – £200
- Cashback – £474.56
- Blog – £50 (Zeek credit)
- Online Earnings – £70
- Vehicle Tax Refunds- £158.75
- Sales – £95.40
- Money Found – £10
- Refunds – £4
- Writing – £0.82
You can see that most of it was money paid out in bank interest. We’ve been saving in high interest current accounts for years, but we actually made over £300 more this year than in previous years because of using three regular savers paying 5%. Wow.
Cashback is a funny source of ‘income’ – you only get money back if you spend money. We don’t spend much (I believe) but we have a house to renovate, so we have seen our expenses go right up since buying the house. I think it’s time for some expense reports to be able to compare!
Vehicle tax – well, here you can see the problem with driving bangers and having to swap them around. Vehicle tax can’t be transferred between registered keepers any more, and if you sell or scrap a car part-way through a month, you can’t get a tax refund for any of that month. A bit more vigilance is needed to get your money back if you end up swapping your car as often as we have.
Selling – well, I’m so bad at this it’s almost funny. Early on I decided I hated it, then I decided to give it another go, and now I’ve got the eBay bug. I actually made a coin sale on the first day of 2017! Look out for bigger numbers this year!
Most of our extra income is passive income, but it requires a bit of mental stretching to set up. Cashback is easy but you have to find the offers, and interest is dead easy, but you have to open the accounts. My ebooks are a negligible source of income now, but the effort in writing those essays was put down as part of my MA. Anything I get now is just gravy… but I will be making some effort to polish up some more essays and to promote them. Will it grow? Who knows.
Keep reading – I have a feeling that 2017 will be a very eventful year in my learning and earning journey 🙂
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