What’s a side hustle?
A side hustle is a way of making extra cash on top of your 9 to 5 job. Who couldn’t use some extra money in their account, whether you’re trying to pay the bills, saving for a dream holiday, planning a wedding or just want to put something away for a rainy day? A great side hustle can make a big difference to your financial future, banish money worries forever and give you more freedom. There have never been so many ways to earn extra income on top of your day job, and many of them can be done in the comfort of your own home. Whether you just want a couple of hundred quid or even a thousand a month or more, there is something for everyone out there, and if you enjoy it enough, it can even become your new career! Here are 5 ideas to turn your bank statement into something fantastic.
Sell your stuff online
With sites such as eBay, Amazon, Music Magpie and Gumtree, this is one of the fastest and easiest ways to generate cash. Take a look around your home and you’ll probably see various bits of furniture, household appliances, unwanted Christmas gifts and various electronics sitting unused, cluttering up your space and gathering dust. You might not want them anymore, but someone will, and they’ll pay for them too! Take good photos and make sure the accompanying written description is compelling and you’ll be on your way. If you get the bug, there is nothing stopping you going professional in time. With some investment you can trawl the many charity shops you’ll find on any high street or get to car boot sales (get there nice and early) and buy some hidden gems that you can then “flip” online for a profit. Have a look at sites like the ones mentioned above, you’ll get an idea of what prices to pitch your wares at and within a few short weeks you should start earning.
Forex trading
Forex trading, also known as FX or foreign exchange trading, is the buying or selling of one currency in exchange for another. The aim of the investor is to profit from price movements in the currency markets. This used to be the preserve of those who worked for big financial and trading institutions, but the internet has totally changed this – any individual can now buy or sell Forex via online trading UK houses. Forex investing is growing rapidly and it is a great side hustle to look at. Getting involved is easy too, just sign up with one of the many licensed Forex brokers online and invest a little start-up cash. You won’t need a big investment up front either; many brokers only require £100 as a minimum amount and they have brilliant apps so you can trade on your mobile phone. The apps allow you to trade, analyse trends and get advice online from other traders, and offer virtual real time trading accounts so you can practice with no financial commitment. The market is open 24 hours a day Monday to Friday so you can easily fit it in with your day job. Of course, there is an inherent level of risk as with all investments, so if you think this is for you, do the research, choose the right broker and start off slowly and simply!
Freelance writing
There are millions of websites and blogs out there; have you ever wondered how they keep up with new articles and content? They have freelance contributors, and there is a huge demand for people who can write great content. There are lots of different jobs available – online and print articles, newsletters, blog posts, promotional mailshots, emails and resumes being just a handful of the possibilities. You can work to your own schedule and you do not need any prior writing experience, with many types of freelance writing work not requiring any qualifications. You can begin by speaking to small businesses who need content, set competitive rates, learn your skills and build up a portfolio of work you can showcase to bigger companies. As your reputation and business grow you can contract out work to other freelancers too. If you are not sure where to start just google “becoming a freelance writer” and you’ll find a wealth of advice on how to get going.
Walk dogs
If you are a dog lover then this could be the side hustle for you. Britain is a nation of dog lovers, with around a quarter of households owning one. People spend plenty of money on their dogs but they are often short of time to walk them, especially if they are out of the house all day. There is high demand for dog walkers, and it is estimated that over £1.5 billion is spent on these services each year in the UK. If you walk enough dogs not only will you get great exercise, but you can make good money. There are plenty of sites like Rover, Bark and Borrow My Doggy where you can set up a profile so clients can find you, or simply print off some flyers with your details and prices and drop in your nearby letterboxes. If you can’t get enough of our furry friends then you can expand into dog sitting and even dog grooming too.
Become a virtual assistant
A virtual assistant is someone who remotely offers their services to online businesses. There is a high demand for them to help with tasks such as data entry, finance and billing, book-keeping, diary management, meeting scheduling, report preparation and simple marketing. Many businesses today rely on virtual assistants working behind the scenes to keep everything on an even keel. What tasks you do will depend on the clients you work for, and while some VAs perform a wide spectrum of jobs, it is possible to specialise in niche areas should you wish. This is a very flexible side hustle and you can decide whether you want to charge by the hour or a set sum for a fixed number of hours. You need to have excellent time management skills and be a strong communicator, and in terms of equipment, a phone, laptop and a reliable internet connection is all you need.
