RICHIE RICH
I’m incredibly lazy but still make £225k a year with my easy side hustle – I even paid off my £240k debt with it
Bernadette Joy hit back at those who criticise her business and claim she's "unsuccessful"
DESPITE being “incredibly lazy”, one woman has revealed how she turned her side hustle into a £225,000-a-year career.
Bernadette Joy proudly seeks out “the path of least resistance” and only wants to work 20 hours a week - but she still managed to get rich in just three years.
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The 39-year-old started her side hustle during the pandemic as she wanted to work less.
At the time, she was running a successful dress-renting business but found the graft became “unfulfilling”.
Shockingly, she had over £240,000 debt in mortgages and student loans when closing the fashion rental brand down.
Bernadette couldn’t afford to not work, but definitely didn’t want to be grafting too hard.
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So, she set up an online coaching business which now rakes in over £200,000-a-year and shows no signs of slowing down.
Crush Your Money Goals is a digital personal training brand that Bernadette established with the knowledge she learnt from her psychology and business degrees.
Through it, Bernadette sells in-person and Zoom masterclasses and workshops to teach people how to manage their money better.
A blurb on her upcoming masterclass reads: “During this no-b******t, straight-to-the-point masterclass, Bernadette will share her arsenal of practical strategies to transform your financial outlook.
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“Imagine having a single, streamlined system to track your money, eliminating wasted time and resources.
“Envision a future where you feel excited about your spending, not guilty. Picture knowing exactly how much you need to save and invest each month to reach your goals.
“Whether you're dreaming of leaving your 9-to-5, ditching debt, investing in your legacy or simply seeking financial peace of mind, this workshop is for you.”
20-HOUR WORK WEEKS
Crush Your Money Goals launched in 2020 and scaled to make £225,000 last year alone.
With her being admittedly “incredibly lazy”, Bernadette has organised the business so that she only works 20 hours a week.
She gives it her all from Monday to Wednesday, and spends the rest of the week travelling and taking hip-hop dance classes.
“I work 20 hours a week, but it’s a very intense 20 hours a week,” she told .
“I know how to work very intensely, then just be vegetative.
“There’s no in-between for me.”
BITING BACK
Bernadette has been candid on her public Instagram profile about the controversy surrounding some of her choices since becoming a millionaire - namely deciding to rent rather than buy a home and not have children.
The entrepreneur alleges that critics have said this makes her "unsuccessful".
“I love being the rich auntie,” she retaliated in one post.
I'm filled with so much joy because I am doing what feels right for me
Bernadette Joy
“I love being an entrepreneur.
“I love living exactly where I want to live with no house maintenance and close to all the arts and walkable to the best food.
“I was unhappy when I tried to follow the 'American dream’ blueprint.
“It's not to say it was bad: Kids are great, jobs are great, homes are great.
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“It just wasn't for me. I used to be filled with so much doubt.
“But now I'm filled with so much joy because I am doing what feels right for me.”
Do I need to pay tax on my side hustle income?
MANY people feeling strapped for cash are boosting their bank balance with a side hustle.
The good news is, there are plenty of simple ways to earn some additional income - but you need to know the rules.
When you're employed the company you work for takes the tax from your earnings and pays HMRC so you don't have to.
But anyone earning extra cash, for example from selling things online or dog walking, may have to do it themselves.
Stephen Moor, head of employment at law firm Ashfords, said: "Caution should be taken if you're earning an additional income, as this is likely to be taxable.
"The side hustle could be treated as taxable trading income, which can include providing services or selling products."
You can make profit of up to £1,000 a year tax-free via the trading allowance, but over this and you’ll usually need to pay tax.
Stephen added: "You need to register for a self-assessment at HMRC to ensure you are paying the correct amount of tax.
"The applicable tax bands and the amount of tax you need to pay will depend on your income.";
If you fail to file a tax return you could end up with a surprise bill from HMRC later on asking you to pay the tax you owe - plus extra fees on top.
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