Clever Ways to Make a Side Income
There are countless reasons you might want to make some money on the side of your main income. Perhaps you have some debt that you want to clear. Maybe you’re saving for something big like a mortgage deposit, a car, or a holiday. You might simply want some extra spending money each month, perhaps for meals out, day trips, or some extra bits and bobs. Whatever your reason, it’s good to know that there are plenty of different ways to make money on the side. Here are just a few that you might want to consider.
Overtime
If your work offers overtime or additional shifts, this is one of the easiest and most straightforward ways to make some extra money. Inquire with your manager and see whether you can book anything in. Just make sure you don’t burn yourself out!
Freelancing
Another option is freelancing. This is when you work for yourself. When you freelance, you complete short-term projects for a client and generally charge them per project. Just make sure that you are registered as self-employed, as this will allow you to file your own taxes and other essential contributions at the end of the fiscal year. Common skills that people use to freelance include graphic design, copywriting, web design, and more. Remember that when you make money through freelancing, you will have to pay tax on your earnings. You can learn more about this through an accountant.
Start Your Own Business
If you have a product or service to sell, you might want to consider setting up a small business that you can run alongside your work. Again, you will need to register as self-employed. You will also have to put more effort into things like branding, product development, web design, and Customer Education than when freelancing. Remember that starting your own business is going to take some investment, so this is a good idea if you already have money to invest in setting everything up. Remember you will need to pay taxes on this income, so you may, again, like to source an accountant.
Sell Old Belongings
If you’re looking for some quick cash, you may want to sell your old or unwanted belongings. The vast majority of us have some sort of items that we no longer need or use. Why not free up your space and make some money at the same time? Doing this is simple and straightforward thanks to online sales platforms like eBay, Depop, Etsy, and more. Start by taking good-quality pictures of the items. Remember that images are the main thing that customers are likely to go by when deciding whether to buy something or not. Then write a good description. This should detail the item, sizes, any faults or marks, and any other information that could benefit the potential buyer.
As you can see, there are a number of different ways to make a little extra money on the side of your usual income. Hopefully, some of the above ideas will appeal to you and work for you.
