The pandemic might have hit hard when it comes to making money and for some of us, it’s been savings galore! The truth is, there’s always room to bring in some extra cash whether it’s a side hustle or a passive income. In this article, we’re going to be discussing 12 ways to make more money in 2021.
Investing is a great example of a passive income; it can make you money whilst you sleep. In the UK, you can open an Individual Savings Account (an ISA) which means any growth on your money will be tax-free! When it comes to investing, it’s easy to start small, you can develop an income by buying dividend stocks. You earn money from these pay out dividends when the company is doing well, it’s up to you whether you use this money as income or reinvest it. Another way to make money investing is through capital raises, this is when a stock goes up in value and you sell it, you benefit from the rise in price.
Securing a part-time job is a guaranteed way to make more money. It could be in a restaurant café, supermarket… whatever you fancy that can work around your main form of income. This is also the perfect way to meet new people, make new friends and keep active if you have a sedentary job. We have a lot of people in our community who have managed to bring in an additional income from £500 to £1000 per month!
Amazon, Deliveroo, Uber and Uber Eats are all leading employers in the Gig Economy. This is an amazing way of securing additional income for your household. The best benefit of this line of work is the flexibility – you can clock on and off when it’s suitable for you. This allows you to work around your work, home and social commitments.
Firstly, you need to speak to your senior leaders and find out what it is you need to do to secure a salary increase. You may need additional training, additional responsibility or even to increase your profile within the company, this could mean putting yourself forward for projects and new opportunities. If you feel like you’re underpaid in your role, it’s important to do your research. Find out what other companies pay people to carry out your role and complete through benchmarking to ensure you have a case to present back to your employer.
You might have a skill that you could monetise to make more money. These skills could be writing, graphic design, video editing and so much more. There are several great platforms you can utilise to advertise your skill and be sure to reach out to your network to see if anybody could make use of your skill for an hourly rate.
Reselling items from around your home is really good for quick liquidity and the environment. There are so many digital platforms available that make it easy for you to upload and sell your unwanted items. Here at Financielle, our community rave about Vinted for second-hand clothes but prefer Facebook Marketplace for larger items like furniture. Plus, who doesn’t love a good sort out?
Do you like creating content as a hobby? Do you do it in your spare time as a passion project? Could you monetise this skill through blog writing or video and audio content? There are lots of great platforms where you can advertise your content creation skills and lots of small businesses are looking for this ad hoc support.
Cashback websites are an effective way to make more money – that is only if you were going to make a purchase anyway. Our community members have made hundreds utilising websites like Top Cash Back and Quidco. Each time you make a purchase online, it pays to do your research and ensure you get a return.
Surveys or User Testing
This is a great level entryway to bring some additional income into your household. The most common survey sites are YouGov and Prolific however, be warned that some surveys and testing sites pay out very small amounts for your time. Be sure that you are happy with the return for your time before embarking on a survey!
Open up your own online store. Here at Financielle, we’ve created our own online store through Teespring. The benefits being you don’t need to invest in stock, machinery, people or postage. The print on demands service offers creativity, flexibility and could be lucrative. If you want to purchase Financielle merchandise, click here
People often forget this money-making hack. Start small with a car parking space, you could then look to rent a room. You can even get ‘rent a room’ tax allowance. You could work your way up to a rental property, it might be easier than you think!
Start a Business
We’ve seen great success from community members setting up businesses during the pandemic. Check out community member Cat @nomad_coffee_co who set up a portable coffee van in her local village to service residents. You could become a virtual assistant, help people with CV writing, help small businesses with their social media management. Fiverr is a great site to promote your services.
Remember, starting your own business doesn’t have to mean huge cost outlays, talk to your network and your local community and put your skills to work!