Istarted writing on Medium back in October 2021 and had a lot of initial success. In April of 2022 I earned $1,695 from the Medium Partner Program. Things were going so well that I neglected many of my side hustles. After all, I needed to focus on what was working, and that was writing for Medium.
Fast forward few months and my Medium earnings collapsed. Last month, April 2023, I earned just $41 from Medium.
It was obvious at the end of last year that the best days of Medium were over, so I got back to focusing on making money in other ways. I had a complete re-think of what I was doing and came up with a plan to earn $8,000 a month by the end of 2023.
In January, I reached my target. I earned over $11,000. That was great but I still had a long way to go. My target was to be earning $8,000 every month not just during the good months.
So, how have things been progressing since then?
Very well indeed. After the first 4 months of 2023, I’ve earned over $20,000 from my side hustles and investments. That’s an average of just over $5,000 a month. I’m not too far from my target. I still hope to reach it, but I’ll be really happy even if I’m at my current level at the end of the year.
$5,000 a month would equal $60,000 for the year. That would be a great income, especially as I don’t have a job.
It would set me up nicely for my next target of getting to $20,000 a month in earnings.
Here’s a breakdown of where the income has come from.
- My crypto investments have earned $14,293, giving an average of $3,573 a month. It’s been a great start to the year. The bear market is over and the bull market is here. The bitcoin halving is only a year away, so it’s looking very good. I mostly buy and hold but will soon start being a little more active in the market.
- My index funds and interest on cash holdings as made $6,985, giving a monthly average of $1,746.
- Writing on Medium has earned a disappointing $439, so a monthly average of $110. But my earnings are still declining.
- I started the month with three blogs. I sold one for $395 so that I can focus properly on the other two. The one I sold was more of a starter site. All I did was add 105 of my Medium stories that weren’t earning any money. Getting $395 was better than letting them languish on here. But there were some expenses, so I ended up with much less. So far this year my blogs have earned $344, so an average of $84 a month. Not great.
- I’m also planning some property renovation but can’t start that until later this year, as I’m currently traveling with my wife.
If I look at the percentages that each investment and side hustle has contributed, it’s very clear that my investments are doing the best. They have contributed the following.
- Crypto 65%
- Index funds and interest 32%
- Blogs 2%
- Writing 2%
*The percentages don’t add up to 100 due to rounding.
I have some other plans that I’ll reveal at a later date.
None of the above is set in stone. I adapt as I go along. If any project starts taking off, I spend most of my time on that one and put those that don’t earn much on hold. It’s why I only wrote a few stories here last month. My investments are currently providing the overwhelming amount of income. It’s why I’m going to start focusing a little more on crypto.
Medium will be more or less on hold for the time being, as it’s just not worth writing articles that only earn $1–2. But it’s a good place for these kinds of updates. Writing about my side hustles is a good way for me to clarify my thoughts and keep a record of what I’m doing.