How Jackie Plans to Make $30,000 in 2012

This post is by Jackie Beck, who has been blogging in the personal finance world since 2006.

This post about making an extra $30K of online money this year has been tough to write, mainly because in doing so I realized that I’ve never actually planned out how to earn money before. Despite being a huge fan of SMART goals, somehow I’ve avoided applying the concept to earning money.

As of today, that changes.

Here’s my plan for grossing at least an additional $30,000 this year.

Getting specific

First, I’m breaking my goal down to a monthly minimum of $2500 extra compared to the same month last year. That’s probably going to be tough for March because I had an unusually excellent March in 2011, but I do think it’s a realistic and achievable increase for the other months — and who knows, March could turn out that way too.

Next up is how to earn that money. I’ve got these existing online ventures to work with:

And these upcoming new ventures:

Areas to increase

I’m actually going to write out detailed SMART goals for each of these items this weekend, but I’m still working out the how right now. So for now I’ll just say that majority of my focus will be on the two areas that have been most successful for me so far: my app and blogging. I believe that I can make at least an extra $1750 per month from those two endeavors.

Since I’ve just started the etsy store, any sale at all there will be an increase from $0. Maybe I could make an extra $300 a month from that. A nice bonus there would be turning a hobby into a business, and of course continuing to improve my work.

I have no idea what to expect from the Women’s Money Week project, but think it holds a lot of promise — for helping women take control of their finances, for supporting charity, and for the possibility of generating some income. It’s one week of the year though, so I’m not going to include it in my monthly potential.

The kindle book is a new project that is still only a gleam in my eye at this point. It will be used to support the Pay Off Debt app and hopefully increase sales there, but it should generate sales on its own too. Let’s say $50 a month from that, once I actually create it.

I don’t actually expect the blogging podcast to generate money in and of itself, but it will indirectly support the Kickstart a Blog site. So we’ll say $0 for the podcast.

The shortfall

You may have noticed that I’m about $400 a month short of my target at this point. So I’ll just say it: I have no idea how I’m going to make that up. But, I have faith that it’s possible! Belief counts for a lot, even though it’s not something that fits neatly into a plan.

I could start another personal finance blog and probably make up that shortfall fairly easily, but…I don’t want to. I enjoy the amount of blogging that I do currently, and don’t want to increase it. I do have a niche site in mind that I’ve got the domain for, so that’s a possibility if I can convince someone to do the work on it for me in exchange for a share of the profits. We’ll see.

I always have a million and one ideas percolating, so that’s not the issue. The real issue is time, and spreading myself too thin instead of going with what I’m most passionate about.

I think passion wins, so for now I’ll just go with “I think I can do it” when it comes to making up the shortfall, and leave it at that.

So there you have it. Do you see any flaws in what I’ve laid out so far, besides the obvious shortfall?

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7 Responses to How Jackie Plans to Make $30,000 in 2012

  1. Very cool stuff, Jackie. I love the idea of the app, and I used to write these during my day job (for Android, not for iPhone though). I am now working on my own and I really hope that down the road, I can make as much or more money doing this as I did at my day job.

    Good luck in the challenge!

  2. Very cool projects indeed. Great job. Congrats on all of the sites. That’s great. I really like the Women’s money week thing. If I wasn’t going to be away I would participate. Best of luck with all of your goals.

  3. Cash Flow Mantra says:

    Incredible list of ventures you have there. Sounds like you have a lot of energy and drive. Good luck with them all.

  4. Great plan Jackie! I’m sure that you will figure out how to make that little extra needed, or maybe you will have some great windfall months!

  5. Derek says:

    Sounds like a pretty decent plan. You might think you’re short so far, but just gauge your income over the next couple of months. If you really are coming up short, then I’d suggest that you devise a plan to make up the difference. After reading all of these awesome income sources, I’m sure you could come up with something else! :)

  6. Good luck, Jackie! I’m sure you’ll come up with a way to make up that $400. Also, I’m really excited for the Women’s Money Week. I love the concept!

  7. Andrea says:

    An app, that’s very cool! And don’t worry about not having it all planned out yet, small ideas grow over time. :)