Here’s a new installment in our side hustle case study series, where real people share how they make extra money in their spare time!
This week Eileen from Your Money Sorted is telling us about her side hustle selling financial training courses online. That’s on top of working as a teacher, financial coach and blogger! Eileen is one inspiring woman and I hope you enjoy reading her story.
Selling online courses with Eileen from Your Money Sorted
Please tell us a little about yourself and your side hustle.
I am Eileen, a PE teacher, financial coach and mum to 3 teenagers. An unexpected set of twins left me with 3 under 2, which upset my life plan and totally changed my relationship with money. My plan of working full-time became unworkable, and I had to go part-time and take a huge drop in income. I went from someone who had never really worried about money, to someone who always felt skint and constantly worried about money.
I spent years feeling hopeless and helpless, but eventually I knew something had to change. I started learning about money mindset, and realised that I was causing my own problems, and that the only person who could change it was me. I have developed a much more healthy money mindset, and now believe that I can find the money to do the things that are important to me, rather than always thinking “I can’t afford that!”
I knew that what I learned could be really helpful to so many other people, so I have created courses to help women to understand their relationship with money, to feel great about money and to learn how they can have money for all the things that are important to them too. I also teach them how to manage money like a pro, so that they can relax and get on with enjoying the fun things in life.
How long have you been doing your side hustle? How did you get into it?
Initially I trained as a Financial Coach, and planned to just work with clients on a one-to-one basis. However, I realised that I could help so many more women, if I worked online. I wrote my first Your Money Sorted course in 2016 and have added Magic Money Manifestation, Change Your Money Story, Money Success Made Simple and Finance for Freedom since then. The feedback from all my courses is fantastic and makes me really proud.
What does the work actually involve? What does a typical day/work session look like for you?
I am spinning lots of plates, so no 2 days are the same. I still teach PE 2 days a week, and I am a Financial Education officer, teaching in schools. Around that I make time to spend time in my lovely Your Money Sorted Facebook group, chatting with my readers. I also spend time on blogging, updating the website and researching new content.
How much can you make doing this side hustle?
Some people will make a fortune from it, others will struggle to make any sales at all. I started off finding it almost impossible to make sales, but I am now getting a steady stream of self-study sales, which is great, because that is completely passive income.
Are there any start-up costs and/or ongoing expenses with this side hustle?
My main cost is the course platform, where I host all my courses, which costs me around £800 per year. There are also costs associated with advertising, card payment fees and creation of materials.
Although some of my courses are self-study courses, others offer coaching from me as part of the package and it is important to factor in this cost, when pricing the courses. When thinking about how lucrative any side hustle is, it is vital that you consider your own time and make sure that you charge accordingly.
What advice would you give to somebody who wants to get started?
Don’t think that it is easy to make your fortune from selling courses. Only 2% of your audience are likely to purchase, so focusing on building your audience is the only way to make decent money from this side hustle.
Any recommended websites or resources?
This is my affiliate link for Ruzuku, which is the platform I host my courses on. I love the platform – it’s easy to use, the courses look amazingly professional and it allows you to create sales pages and accept payments in the platform.
Where can we find you?
You can find details of the courses that I offer here at https://www.yourmoneysorted.co.uk/coaching/
Thank you Eileen!
You can check out the other posts in the side hustle case studies series here.