We could all do with a bit more money. Whether you’re saving for a house deposit, wedding, holiday, or just for a rainy day. A little bit can go a long way – that’s why a side hustle is perfect for building your wealth, and giving you more freedom. Here are some of the best side hustle suggestions that will help you find what’s right for you.
What is a side Hustle?
A side hustle is a job/revenue stream that generates additional income outside of your usual 9-5 job. This in turn gives you more money to pursue the things you enjoy, and lowers your financial worries.
By having a side hustle you are also less financially dependant on your full-time job. This is because you will no longer have just one revenue source. So if you lose your main job, money will still be coming in each month.
Side hustles are also a great way to learn new skills and meet new people. They can also be aligned with your hobbies and interests – in fact it’s best if they are. As this makes it enjoyable and more likely for you to succeed. So when reviewing the list below, think about what you enjoy and how you can tailor a side hustle to suit you.
Photography is a fantastic side hustle, as there are so many different ways you can make money from it. It’s also something many of us already enjoy doing, and thanks to smart phones we now all have access to a camera.
Compared to some of the other side hustles listed below, photography does involve a higher level of skill. As you need to hone your craft to ensure your images are a good enough standard for people to pay for them. But this is also something which improves the more you work at it.
In terms of how to generate money, here are two of the best options for monetising your photography.
1. Upload Your Images to a Stock Photography Site
There are many companies which enable you to upload your photos to their website for users to buy and download. When someone purchases one of your images you will receive part of the profits.
Demand for stock photography has never been higher, with everyone from bloggers, small business, and advertising agencies needing images to produce content.
Shutterstock is one of the best online photography platforms to sell images through if you’ve got a decent camera. Or if you want to simply upload and sell images you have taken with your smartphone, try Foap.
For more guidance and recommendations on what photos best sell, check out this article on Shutterstock.
2. Become an events photographer
One of the most popular ways to make money with your camera is to become a wedding photographer.
Wedding photography is a great example of a side hustle which encourages you to learn new skills (e.g. marketing, and building a website). And also a way of meeting new people and building your network.
It’s also a side hustle which can turn into a full time job if you grow your business over time and perfect your style.
For further information on becoming a wedding photographer check out this article here.
My first side hustle when I moved to London in 2009 was attending focus groups. I still do them today and they generate me around £500 in extra revenue each year. Although this isn’t massive amounts of money it still makes a nice contribution to my yearly finances.
The benefit of attending focus groups is they are a very easy way to earn money. All you have to do is sit in a room for an hour or two and answers questions with a group of strangers. They can be on any number of topics. I’ve had them for drinks brands, travel companies, and even local government.
Sometimes you get additional gifts for attending. I did one last year where I got a crate of beer to take home with me! In terms of cash they usually pay between £50 – £150 per session.
The only downside is focus groups tend to be run in larger cities. So if you live in a rural area it may not be a viable side hustle (due to the cost of travel).
If you want to get involved, you are best googling for focus group recruitment companies in your area.
Teaching others is not only a good way to make extra money, it can also be very rewarding.
When deciding what you could teach, think of the skills you have that would be useful to others. It can be something you have a passion for, or skill you have acquired through your 9-5 job.
There are many night schools that are always looking for people with different skill sets to teach their classes.
I’ve been tutoring part-time on a marketing technology course for a couple of years now and really enjoy it. I’ve met a lot of new people through the experience, and it also adds variety to my weeks as it’s very different from my usual working environment.
Matched betting is when you take advantage of the free bets offered by bookies by placing bets you can’t lose.
Essentially you make a bet on one outcome using the free bet (e.g. England to score against Sweden). And then place the opposite bet (England not to score against Sweden) using your own money at a different bookies. With this method you win whatever the outcome, and as only one bet was made using your own funds you always make a profit.
There are many who claim to make a full time living using this method. I personally find that hard to believe as there are only so many free bets available. However, you can definitely make a couple of hundred each month if you put the effort in.
For more information plus a free odds checker calculator check out this article on the Save The Student blog. It has an in depth tutorial on how to start matched betting, and will get you earning straight away.
Dog walking has become an increasingly popular side hustle. Many people who work full-time hire people to walk and feed their dogs during the day.
London in particular has seen massive growth in the number of people who require dog walking services. With many paying large amounts of money each month.
If you work part-time or from home, dog walking could be the perfect way to bring in some extra cash each month.
To get started there are many website you can sign up to, or you could advertise your services on Gumtree.
Recently the gig economy has taken off in a big way. It’s never been easier to share your skills and services with potential clients.
If you have creative skills such as video editing, writing, or design, there are a whole host of websites you can use to get work. Skills such as these are great as you can charge by the hour and be brought in to work on small self contained projects. Whether it be editing a short video, or creating a blog post.
One of the best websites to use is People Per Hour, and you can sign up immediately to start getting work. People Per Hour, also lets you pitch for jobs. You simply find a job you like the look of and send the creator a proposal and the price you would deliver the work for.
Even if you don’t have any of the skills above you can still get involved. There are many people who need someone to do basic admin tasks e.g. transcribing audio files.
Renting out your Car Parking Space
With more cars on the road than ever before, demand for parking has never been higher. Especially in major towns and cities, car parks are struggling to keep up with the demand.
This is where you come in – by renting out the parking space at your home you can make a steady monthly income. The website Your Parking Space makes this incredibly easy to do. You simply list your parking space on there site, and then potential renters can find it. Your Parking Space then deposit the rental income into your account at the end of each month. Listing your Car Parking space is free, so there is so reason not to get started!
Many people think that only the rich can make money out of property, however this is not the case.
Obviously if you can afford to buy a rundown house renovate it and sell for a profit – then that’s great! But for many of us that is not an option as it requires a lot of money, time, and knowledge to do successfully.
Thankfully with sites such as Airbnb it’s now much easier to make money from your property. Airbnb enables users to rent out a room in their home, or even the whole property if they choose to.
The market has never been bigger, with 5.9 million people booking a UK Airbnb in 2017. It’s also really simple to do and quick to set up an account.
I’ve used Airbnb a number of times as a guest. And every host I’ve spoken to has been happy with the service and the extra income it generates.
As mentioned in my post ‘Finance Decisions I Wish I Made At 21‘, creating a blog is one of the most rewarding things I have done in recent years. It’s a great way to learn new skills, and a constructive use of my spare time.
However, maintaining a blog takes a lot of hard work and commitment. It’s something you can start today, but generating income from a blog can take months, or even years.
It can however be great fun. So if you have the dedication and enjoy writing, then it’s something i’d highly recommend.
I love making new thing using old repurposed materials. I do it as a hobby and keep the things I make, however a lot of people are now selling the items they’ve created.
You can create useful items out of anything, so just be creative and get started! My material of choice is wooden pallets, as they are free to get and easy to cut up. Below is an image of my latest creation, a planter I made for my balcony!
Looking for some ideas of what to do with extra income? Check out our article Simple Ways to Start Investing With Little Money