I’m squirrelling away some of my side hustle income with eToro (AD)
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One of my big goals for this year is to side hustle enough money to buy a new kitchen. This feels like a stretch goal, if I’m being honest with you, but I absolutely love a money challenge, and pushing myself out of my comfort zone too.
This is why I’ve opened up a cash ISA with eToro. I’ll be able to grow some of my savings tax-free, with a boosted rate for the first 12 months.
I like the idea of tucking my funds away, and knowing they’re safely held thanks to FSCS protection up to £85,000.
An ISA is an individual UK savings account that allows you to save or invest tax-free. Returns inside an ISA (interest, dividends and capital gains) aren’t taxed, and don’t normally need to be reported on my tax return, which is another admin win for me!
For this tax year the annual limit I can save tax-free is £20,000 across all ISAs, but I don’t think I’ll be hitting anywhere near £20,000. Still, a girl can dream!
If you’re 18+, and a UK resident for tax purposes, you can also open a cash ISA with eToro.
Your capital is at risk. Tax treatment depends on your individual circumstances. Other fees apply. Holding period & terms apply. UK residents only.
I am eager to save up for a new kitchen!
Our current kitchen has absolutely had its day. Lived its life. Served its purpose. You get the drift.
My home was originally a council house, and the kitchen must be 10+ years old, but was poorly installed by the looks of it.
The tiles are cut to fit around a capped-off gas and water pipe, the worktops are cut poorly, with unsightly joins, and most importantly the kitchen just isn’t very accessible.
My husband has a dominant hand and arm disability, so I’d love to make some changes such as adding a dishwasher, and changing the layout of the kitchen so it is more suitable for him.
I’d like to save around £10,000, as I think this would be a decent amount for our small kitchen, to cover ordering some new appliances, the kitchen itself, plus the fitting. I did ask over on my Instagram about this, but not many people spoke about what they actually spent on a kitchen, so I’ve no idea if I’m being unrealistic yet.
How I’m making the money to pay for my new kitchen:
Side hustles. That’s all I’ll tell you…
Just kidding!
I absolutely LOVE side hustles, and take part in a variety of different ones. Paid surveys, market research, earning cashback on everything I buy, paid product tests, and mystery shopping, are just some of the things that I do to earn me some money from home.
In the last couple of years I’ve spent a lot of my side hustle income on holidays. This has been lovely, but a new, cosier, more functional and brighter kitchen space would be a real asset to my family, and my home, which is why it’s time to be a grown up, set my savings goal, and get going!
I keep telling myself that maybe we’ll decide to move house instead, but even if we do I’ll hopefully have saved a lovely £10,000 to use towards moving costs, and this won’t feel like a loss to me really.
Why I don't want my money just sitting around:
I am going to keep some of my money in a conventional savings account, as I’m currently earning 3.5% interest, and some in premium bonds, just for the excitement of a potential win, but I’ve decided to be a little more adventurous this year, and try a few things that are slightly outside of my own comfort zone.
I’m going to start with adding the first £500 I’ve earned from side hustles this year into an eToro cash ISA, and then I will aim to add at least £50 a month throughout this year, and hopefully by the end of the year I’ll have a nice chunk of change to put towards a nice new kitchen.
Why I’m choosing a cash ISA with eToro
I’m something of an open book when it comes to my money. I love chatting about how much I earn from side hustles, and where I’m spending the money. When I was looking for a cash ISA I wanted to go with something that was straightforward, quick, easy, and without lots of hoops to jump through.
eToro is a trading and investing platform that allows people to grow knowledge and wealth, alongside a global community.
As we all start to want our money to work harder and harder, eToro was founded in 2007 with a vision to help everyone learn to trade and invest in a transparent way.
The boosted rate (now ended) for 12 months was really appealing to me, and because I’m limited to three withdrawals per year I hope this will keep me away from dipping into the money when I want a new kitchen gadget, or some other impulse purchase.
My funds being held safely is important to me, and that’s another reason for me to choose eToro.
I really like that I can withdraw funds and replace them in the same tax year without reducing my annual tax-free allowance. If I had an emergency, and needed access to my money, I feel like this would make me feel more motivated to get saving again as soon as possible.
The eToro app is free to download and really simple to use. I can see the different services that eToro offer, at a quick glance, and check in on my ISA too if I want to.
The whole process has been really straightforward. It took just a few minutes to make my first investment in the cash ISA and by paying in £500 right away I was able to benefit from a boosted rate, for the first 12 months. Though this offer has now ended.
For me I feel like I’m separating this money from my day to day banking accounts, and this means I’m mentally ring-fencing the money so that I can come back to it in the future.
Anything that makes it easy for me to invest some money, and keep a loose eye on things, is great with me.
My realistic plan to buy a new kitchen:
It might take me more than a year to save, and that’s ok.
I’ll be looking at my side hustle earnings once per month, and moving some of this money over to my kitchen fund.
I’m looking to add at least £50 per month to my ISA, but more on the months that I have more time to dedicate to side hustles, and therefore earn more money.
For me it feels really satisfying to know that when I’m completing paid surveys while I wait at the school gates in the afternoon, or while I wait for the kettle to boil, that I am actively working towards a new kitchen.
There is something really empowering about knowing that the “extra” income I’m making isn’t just being swallowed up by a one week holiday, like it has in the past, and is going to be used for something that will make a real difference to how easy my home is to use, and the quality of life for my family.
*Variable rate correct as of 05/03/26. eToro account required. Your capital is at risk. ISA powered by Moneyfarm. ISA rules & promo Terms apply. UK residents only. The Cash ISA interest rate is variable and linked to the secure and protected Qualifying Money Market Fund (QMMF) your money is held in.
