Do you work a full-time day job, but still find yourself struggling with money each month? It’s so common for people to have a ‘side hustle’ these days, which is basically a side project or means of earning some extra money on top of your usual income.
If you’re keen to boost your earnings, take a look at four lucrative side hustle ideas that you could try:
Being a Blogger/Influencer
The influencer world has never been bigger, and more and more people are earning extra cash by promoting products and services online. If you have a blog or an active social media presence (or both), take advantage of the potential to monetize it. Bloggers can be paid attractive amounts for on-site advertising, and some Instagram influencers can earn thousands for one post!
Obviously, the amount you earn depends on the number of followers you have and how established you are, and it could take some time to make larger amounts.
If you decide this is the route for you, don’t rush or fake your way to be where you want to be. For example, steer clear of buying followers or using spammy tactics to build up your blog. Companies favor authenticity when looking for bloggers and influencers to work with, so spend time making your platforms genuine for the best chance of success.
Being a Property Investor
Investing in property is a popular way to make some extra money. When done right, property investment can help you generate consistent rental returns each month, and even make future gains if your property appreciates in value by the time you sell it. Of course, this type of side hustle requires you to be in a good place financially, as some property companies require you to purchase the property in full rather than with a buy to let mortgage.
If you do have the money and you’re interested in investing in property, make sure you do some thorough research first. Look at the current property market and find out the best locations to purchase property in. In the UK, Liverpool and Manchester are considered the best areas as they present the highest rental yields and best rates of house price growth. Before investing, you should also look into the best property company to invest with. RW Invest, based in Liverpool, offer some lucrative investment opportunities and have a proven track record for success. Investing in the right location, with the right company, will allow you to boost your income significantly and help you reach any financial goals.
Selling Your Arts and Crafts
If you have a creative hobby, why not start selling your products? A lot of people seek out handmade and unique items, so if you’re a skilled illustrator, painter, or whatever your hobby is — use your skills for profit. One of the most popular ways people sell their work is online, whether over social media, their own website, or with a platform like Etsy.
Or, if you’re not into selling online, look out for craft fairs in your local area. You might find that not many people are interested in buying your items, or it could go the other way with you seeing a crazy demand. You’ll never know before you try, so get creating!
Doing Freelance Accounting
Many small businesses might not have the means to employ an in-house accountant to help them get their finances in order. If you’re good with numbers, why not offer your services as a freelance accountant? You could earn a substantial amount by bookkeeping for businesses or helping offer financial advice.
Of course, you’ll need to have experience as an accountant and in some cases, you’ll need a qualification to secure clients. If you work as an accountant or in a similar role with your day job, then this would be the ideal way for you to make some money on the side.