If you want to supplement your earnings in the long-term or require a quick financial boost – it is possible to generate a second income outside of your traditional working hours. Here are a few simple and easy ideas. Read on for our 5 Ways You Could Generate a Second Income in Your Spare Time:
Landlord: If you own your own home and have a room going spare, a lodger could bring you a few hundred quid every month. You can earn up to £350 every month tax free from a lodger, and even charge extra for help with the utilities and other bills. The charity Shelter can help you understand the legal side of becoming a landlord – clearing up any questions about deposits and tenancy agreements which you may have.
There are a number of online sites such as Spare Room, Airbnb which make it easier for you to find a responsible and suitable lodger who needs somewhere to live or stay for a short time.
Storage Unit: If you don’t fancy the proposition of having a stranger rent a room next to yours, you can always open your home up as a storage unit for somebody to store their belongings. Store Mates partners up homeowners with a spare room and a need for extra cash with people who require additional storage. The simple tool allows you to make the most of the spare room, garage, attic or shed which is just sitting there empty and forgotten.
Teacher: If you have a skill you can share with the world, then becoming a part-time teacher could help you generate a second income. A couple of hours in an evening sharing musical, language or sporting skills can help you generate some extra spending money for the weekend. Hold the first lesson with a new student with a significant other present or in a public space – to remove the risk of endangering yourself by inviting a stranger into your home.
It may be prudent to invest in Google Ads to advertise your teaching skills to would-be students searching for your services through the search engine.
Researcher: Not the most glamorous of jobs, but filling out surveys can help you slowly generate money and cash rewards. Companies always require additional information about consumer patterns, so there is always demand for people to fill out surveys and share their opinions. Valued Opinions offer a wide range of online surveys regarding a selection of topics – all offering rewards for completed surveys.
E-Commerce Retailer: E-commerce is the fastest growing market in Europe according to Retail Research, with more and more people turning their back on the high street in favour of stress-free online shopping. It is possible to get a slice of the action, selling your wares over the internet. From selling knitted goods to specialist items – you can turn your passion into an online shop and generate cash in sales.
A small e-commerce website can be operated from the comfort of your home, meaning you will only need to pay for a website, the stock and delivery costs. The latter cost can be cut by using the Rapid Parcel tool, which compares courier prices for your needs – helping you save money on every delivery.
Simple website building and managing tools such as WordPress make it easier to develop your own website or you can use Etsy without having to invest in the skills of a professional.
Live long and prosper
The Fabulous Times