5 streams of income that made me 6 figures in 2023.
Reflecting on my income in the past year.
Hey Friend!
During my short break from social media, I had some time to reflect on my income for year 2023 and I was pleasantly surprised to see that despite quitting my high-paying corporate job during the year (more on that in an upcoming newsletter) I was still able to achieve a 6-figure income for the year!
This was a combination of multiple income streams, which I’m so grateful for. Younger Kennie who usually felt lost and confused about diversifying her income streams and would try all types of side-hustles, would be proud.
Here are my 5 streams of income from the lowest to the highest paying:
5. Interest from My High-Interest Savings Account.
If you know me, you’ll know I'm all about making your money work for you. So, instead of letting my savings [that aren’t yet tied in investments] sit idle in a regular account, I opted for a high-interest savings account. The interest I’m currently receiving is 4.10% with Monzo and surprisingly – the interest I earn is actually enough to cover some of my bills! In 2024 we’re letting our money work harder us!
4. Letting Out a Room in My Property.
I’ve shared on my socials a few times that I bought my my first property in 2022 and that I'm now renting out a room. This has turned into a steady monthly income stream every time my lodger pays the monthly rent. Even though I end up paying this back to the lender to pay off my mortgage. The plan is to continue to invest in assets that pay for themselves and generate passive income.
3. Offering Services.
Thanks to the content I share online , I've connected with an amazing audience (yes, you!) who I can share career and personal finance advice with. This means that I’ve had the opportunity to have 1:1 coaching calls with those that have booked a coaching call with me for personal support and advice. I’ve also been able to host a webinar, and speak at others events. This isn’t only fulfilling; it's also a valuable source of income.
2. Content Creation.
As we know, putting in the effort to share valuable content on the internet has its perks. I've been able to partner with brands that I could only dream of before I started putting out content.
When I recommend the products and services of these brands that I trust, and believe they're useful for my audience, I’m able to charge a fee for this. Some collaborations appear on my page, while others are used by the brands themselves in their Ads (a.k.a. User Generated Content). Oh, and let's not forget the income from the TikTok the Creativity Programme when I post longer videos, which isn’t a lot but it’s something and it all adds up.
1. My 9-5 Job.
And the top earner for 2023? My 9-5 job as a Compliance Officer/Analyst in the Fintech/payments industry. Despite being on a career break now, the salary from this role made up the biggest part of my income last year.
There are a few specific skills I've had to develop [and I think anyone can] to be able to have these streams of income so let me know in the comments if you’d like me to go through them in the next newsletter!
Let’s chat 1:1!
PS: For anyone that’s interested in pivoting into a non-coding but high-income career in Tech like being a Business Analyst and/or Scrum Master, I’ve co-founded a community for you called The Pivot Place. Follow the instagram page here.
See you in the next one!
Kennie x