Want to combat the cost of living crisis?

There’s always room to bring in some extra cash, whether through a side hustle or a passive income. Let’s look at ways to make more money in 2022.

Investing

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) or a personal pension, meaning 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 and you earn money from dividend payouts 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 growth, this is when a stock goes up in value and if you sell it, you benefit from the rise in value of the stock.

Part-Time Job

Securing a part-time job is a guaranteed way to make more money, quickly.  It could be in a restaurant, supermarket, or even a seasonal event… 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 also maybe keep active if you have a sedentary job. We have had many people in the Financielle community who have managed to bring in an additional income of between £500 to £1000 per month through getting a part time job.

Gig Economy

Amazon, Deliveroo, Uber and Uber Eats are all leading platforms in the Gig Economy. This is a great way of securing additional income for your household, especially with 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.

Salary Increase

Are you due a salary increase?  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.  Tis 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 thorough benchmarking to ensure you have a case to present back to your employer.

Freelancing

Do you have a skill that you could monetise to make more money?  It could be writing, graphic design, video editing and so much more. There are several great platforms such as fiverr.com, upwork.com or peopleperhour.com that you can utilise to advertise your skill.  Be sure to reach out to your network to see if anybody could make use of your skill for an hourly rate.

Reselling

Reselling items from around your home is really good for quick liquidity, as well as being good for 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 at home?

Content Creation

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 digital support.

Cashback websites

Cashback websites are an effective way to make more money – but 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 entry-level way to bring some additional income into your household.  The most common survey sites are YouGov and Prolific however, but 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!

Online Stores

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.

Renting Space

People often forget this money-making hack. Start small with a car parking space, you could then look to rent a room. You even get a ‘rent a room’ tax allowance each year. 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!