How to Make Money on the Side

how to make money on the side - ratewise
by ratewise

Several financial and unanticipated hurdles have hit global markets. Rising concerns of unemployment and lower paychecks have been a worry for a considerable period now.

However, you have ample opportunities that can help you make money on the side. The demand for part-time work has always been there and witnessed a constant surge over the years.

If you are wondering how to make money on the side, then we advise you to read further. We have discussed some innovative yet highly useful ideas that can help you make a reasonable sum of money while working part-time.

Moreover, these ideas are worth considering if you are looking to start your own small business from home.

1. Babysitting

For most, this can be a fun job and generate decent money with a limited investment of your time. Working parents, as well as those who are often desperate to go out in the evenings, often look for reliable babysitters.

2. Collectibles and antiques

If you have a collection of antiques or collectibles and a hobby to add more to your collection, trading can be a great money generator. You can list your collection online or try out offline stores.

3. Start a B&B

A trending business that has gained acceptance globally, B&Bs are a smart concept to turn your spare space into a money generator. Especially if you live in an area that is flocked by students or tourists, you have the chance to make some decent money each month.

4. Start a bakery

If you are fond of experimenting with different recipes, start your bakery from home. There is a decent demand for homemade cookies and other confectionary items.

In case you had been wondering how to make money by utilising your talent, then this is certainly your thing. Branding is the key here, so make sure you are using designer packaging and giving options for customized packaging as well. You may even make decorative cakes with an artistic touch.

5. Car boot selling

Though you might not find it appealing, people are making handsome revenues through this part-time occupation. It allows you to broaden your horizons and make sales.

If you are wondering how to make money in addition to a 9 to 5 job, this can be the most comfortable option to start with. You need to make sure that you sell specialist items to build credibility.

6. Start a catering business

You don’t need a qualification to start a small catering business. However, make sure you obtain the required certificates for operating the business before you think of offering your services.

7. Computer repair & troubleshooting

Technology gets updated each day, and most users are not experts to deal with complications related to their computers. If you are a techie and have a decent knowledge of troubleshooting software or repairing hardware, this is a lucrative side business.

8. Data entry jobs

A well-known and among the most popular part-time jobs, data entry is an excellent source for extra income. You can utilize your spare time to work on various projects that pay per entry you make.

9. Part-time chef

For men and women who master cooking; being a part-time chef is not a bad idea. You are free to take up as many contracts as you want. Even cooking a meal once each week is something families often order.

10. Flower arranging

If you love flowers and have tried your hand at arranging them, this is an exciting proposition to try. You will eventually be paid to do something you love.

With your creativity and ideas, you can generate some good money as people often would pay high prices for well-decorated bouquets and flower arrangements.

11. Gardening services

Not all who have their garden in the backyard have the skills or the time it takes to maintain it. People often look for expert gardeners who could take care of their gardens.

In case you love gardening, you could offer it as a service for a part-time earning opportunity.

12. Garden or garage sales

A weekly garage sale with little promotion can help you make decent part-time money. This is especially cool if you have a collection of unwanted items with you or have the option to source such items from friends and family.

13. Make creative greeting cards

All of us have created greeting cards as kids. Some people take this further and take it to the next level. If you are someone who fancies making such cards, this is a perfect money-generator.

Exploring the kind of cards that are selling and putting in your ideas to create such cards for different occasions can fetch you some extra money.

14. Fill out online surveys

You may come across several portals, paying you small amounts for completing a survey. You can enrol yourself and take up surveys to get paid for your time.

15. Sell photos online

For people who love clicking pictures and especially the ones who have a portfolio, selling photos online can generate some part-time money. If you are wondering how to make money online, this is one of the most trending avenues of such opportunities.

16. Review music & earn

Yes, you heard it right. If you are a music enthusiast, you can use your knowledge to get paid for each review. Some portals offer you the opportunity to review your favourite music and get paid.

17. Rent your stuff

Another trending idea for making money is renting out things you own to people who want to borrow it for a little while. There are websites where you can rent your belongings, such as dresses, household tools, or cars.

It’s better to make money from something you don’t use by renting than selling. You can probably make more than what you would do by selling.

18. Refer & earn

Now, if you are wondering how to make money by referring, let me tell you that some companies pay handsome cash for each referral you make.

Adopted by most global brands and companies, this scheme is gaining popularity day by day.

19. Get paid to test products

Do you know that you can make money by testing products before they are officially launched?

Yes, you can enrol yourself to try them and earn. Plus, if you love new releases, this opportunity will allow you to try upcoming products even before they are made available to regular customers.

20. Install smartphone apps that pay money

If you want to know how to make money using the smartphone in your hand, then let us tell you that numerous apps pay you cash to download.

Explore, and you will come across hundreds of such apps that will pay you money if you install and run them on your smartphone.

21. Advertise your car

In case you have no issues with using your car as a display advertising platform, you can try this out. How can you make money by advertising your vehicle?

It is simple; advertisers pay you to sport a logo or a banner on your car while you drive around.

22. Teaching & hosting a foreign student

If you come across a foreign student looking for accommodation, then you can rent your spare room to them. Also, you have the flexibility to charge a nominal fee to teach them about your place, language, and help them get familiar with the new surroundings.

23. Rent your space for photoshoots

Advertising firms are looking for cheap options to host their photoshoots. Moreover, if you have a cozy, well-maintained home, you can certainly get a premium for each photoshoot you host.

24. Grow food in your garden & get paid

If you wish to know how you can make money by using your backyard, then read further. Some companies and brands offer cash to use your space and grow food.

You can enlist your garden with the possible options and make some handsome money out of your garden. Also, your garden would remain well-maintained with minimal efforts.

25. Start a blog

If you love writing, then we recommend starting a blog. You can write on virtually anything that fancies you or if you are an expert in a specific domain. It’s worth trying your luck.

But how to make money by blogging? It’s simple, start putting up content that you think users would love to read.

You can even use tools such as AdWords keyword tools to look for keywords that people are searching for. Once you get famous and start generating traffic on your website, you can enrol in advertising programs such as AdSense or Content Ad to get paid per click or impression.

Need some extra cash to get started?

Whatever term suits your budget, RateWise can match you with a local broker that knows how to help—regardless of your credit score! Get pre-approved for up to £10,000 today!

How can I get better at personal finance?

To get better at personal finance you should quantify your money habits by tracking your spending and income.

Next, make a goal for yourself to better your savings rate or start investing. Commit to your goal and check in with yourself each month to make sure you are on track. Try to keep your spending to within your budget to keep it sustainable.

What is the best way to manage money?

The best way to manage your money is to see it as a tool to help you through life. Take a look at your finances and see where your weaknesses or vulnerabilities may lie.

Then set goals to get your finances back on track to where you want them to be. Budgeting will be how you achieve those goals and some of your goals may be saving for retirement, establishing an emergency fund, or paying off debt.

Check in with yourself to make sure you are on track to accomplish your goals. 

How much should I have in savings?

It’s a good idea to have three to six months’ worth of expenses saved in case of emergencies. For example, if your monthly spending is usually around £5,000 try to keep your savings account balance above £30,000.

Once you have your emergency fund full, you can use your savings as a place to build up funds for big purchases like a house or car down payment.

How much money should I save each month?

Usually, it is recommended that you save at least 20% of your income each month. If you can stick to this, you’ll have a nest egg for emergencies or down payments on any large purchases to keep borrowing at a minimum and your interest rates low.

How much is too much in savings?

You should try to have three to six months’ worth of your average living expenses, including rent, utilities, food etc. saved in case of emergencies.

Any more savings that that might be useful for a down payment on a home or car. If you don’t foresee any large purchase in your future, then you should allocate that extra money into something that gains a bit more interest than your savings account might, for example invest in a stock portfolio.

Categories: Personal Finance
Tags: How To Make Money