Most of us would benefit greatly from a few extra quid in our bank accounts, particularly if you have a family to look after. Millennials are often advised to get a part-time job or take on overtime to earn that cash – but it isn’t always that easy. You might have to take care of family members or work around your partner. There might not be any overtime available, or you don’t have a job that offers it. Or, maybe, after working all week, the thought of working even longer is more than you can bear. Whatever the reason, overtime is not always the answer.
Fortunately, there are other ways that you can earn a bit of extra cash without giving your life to your job. In fact, it is relatively easy to set up an additional revenue stream or two. Here, we look at a few things that you can do.
Rent out a property
This is assuming you have another property that you can rent out or have the funds available to buy one. The rental market is pretty strong at the moment, so the returns that it yields will be worth it. There are various ways that you can do it – take in a lodger, offer a property as a student letting or long-term rental, or perhaps jump on the bandwagon, install an airbnb noise detector, and list it on the popular short-term property rental marketplace.
Create a product
Passive income is your friend here, especially if you lead a busy life and do not have the time or energy to keep creating bespoke products, Instead, spend a little bit of time creating a product that once done will keep bringing you money without needing a great deal in terms of time and effort, and sell it. Wedding stationery is always a big winner, as are things like planners. All you need to do is to be able to navigate your way around Photoshop or the like and sell them on Etsy or even eBay as digital downloads.
Get your freelance on
If you are short on time, this might not be the one for you, but if you have a skill and a bit of spare time, why not look into freelancing. Perhaps you are a keen photographer – maybe you could offer your services for weddings or christenings or birthday parties. Maybe you are pretty good at designing websites – why not build them as a side hustle?
Other things you can do include virtual assistance, exam marking, data input, and audio translation. Freelance marketplaces such as Upwork, Fiverr, and People Per Hour are all good places to look for gigs.
This is by no means a tremendously high earner, but when times get hard, every penny helps. There are a lot of places out there that pay you a small sum of money to complete surveys, which typically only take a few minutes. Any of these places include the Prize Rebel, Prolific, and Swagbucks.