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Best ways to make money on the side

29 January 2019 No Comment

There are few of us out there who wouldn’t appreciate a little extra cash at the end of the month. It’s always a struggle making ends meet, but this can be especially true for working parents. Consequently, finding handy ways to make some money on the side can make all the difference between being able to pay for that school trip or not. To help you out, we’ve come up with a list of a number of different ways you can do just that. Take a read and see which might work best for you.

Find the right method for you

Whether it’s starting up a business or simply taking odd jobs at the weekend, the side hustle is being embraced by more than 70% of young Britons. If you are keen to join in the fun, it’s important to first of all assess what your role in the gig economy will be. Are there any skills you would like to acquire or specific interests you’d like to pursue? Moreover, what kind of time will you be able to commit to your new role and how much are you hoping to earn from it? These are all questions it would be advisable to consider before diving in. With that in mind, here are three great options for making some extra cash alongside your full-time role.

Rent a spare room

If you have a spare room in your place that is being underused or perhaps you travel frequently for business, why not consider renting it out? Depending upon where you live, you could earn big money even for a single weekend rental. Of course, there are always things to be wary of when letting strangers stay in your place: have a read of this guide to renting through Airbnb for a good overview of the kind of precautions to take before committing to the venture.

Sell online

Since eBay exploded onto the scene back in the late 90s, it seems like everyone wants to reap the benefits from the online marketplace potential for making money. Be it clothing, furniture or your kids’ old toys, we all hope that there’s an item in our attic that might just make us rich. Although more often than not this isn’t the case, there are still items you might be holding onto that could earn a good sized sum on some niche marketplaces. Take Chrono24, for instance, who specialize in selling pre-owned watches from big name brands like Panerai. As global sellers, they have a sizeable audience able to spot a bargain when they see one, while buyer protection and trusted checkout ensure the utmost security with each transaction.

Become a driver or delivery person

It might not sound glamorous, but opting to become a driver in the evenings or weekends during peak times can earn you a reasonable amount of cash. The real attraction is the amount of flexibility that you are afforded: as you will likely be driving your own car, you can simply switch your app on and see if there are any local pickups whenever it suits you. One thing to be aware of is the car insurance you will need to procure: as a vehicle for business use, you will need to upgrade your regular insurance and this will likely raise the payment significantly. Factor this into your calculations to assess how great your earnings will need to be to offset these starting costs.

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