5 WAYS TO MAKE MONEY ONLINE TO SUPPLEMENT YOUR SALARY

In this article, Peter Watton, from matched betting specialists OddsMonkey, shares five of the best ways that you can boost your salary from the comfort of your own computer.

Today, many full-time workers in the UK regularly face financial pressures that can put a strain on their income — something that’s not helped by rising living costs and uncertainty over Brexit. Whether you’re looking pay off debts, save for a deposit on a house, or just put some money away for a rainy day, these monetary obstacles can often hamper attempts to give yourself a comfy lifestyle.

This is part of the reason why the number of working Brits that have a side hustle — a secondary income that can help ease some of this pressure — has risen by 32% in the last ten years (CEBR). While these extra ways of earning money can increase working hours, they’re often adding essential funds that allow people to achieve their financial goals.

So, if you’re interested in picking up a side hustle to supplement your salary, I’ve listed five great ideas that you can get stuck into from the comfort of your own computer below.

Freelancing

There are now 4.8 million freelancers in the UK (ONS), many of which are doing so in addition to their day job. From accounting to photography, there are a whole host of ways you can make some extra money from home, so it’s well worth thinking about your skillset and qualifications and finding out if there’s anything you could do.

There are a couple of things to consider, however. For one, you need to make sure that any extra work doesn’t impact your day job, and you might need to inform your employer of your intentions (check your contract). You’ll also need to consider the Income Tax implications of picking up extra income, so be sure to check the Income Tax rules to make sure you’re paying the right amount.

Trading online

In 2019, we’re at the point where nearly everyone shops online in some form or has at least bought something on occasion. Well, what if you were to start selling as well as buying? There are plenty of options for the savvy would-be retailer, ranging from crafts that you’ve made yourself to wholesale products that you buy cheap and sell at a mark-up.

Again, you will need to be aware of how much you’re selling, particularly if you exceed the £1,000 tax-free trading allowance enforced by HMRC. Remember to get in touch with them and pay the correct Income Tax if you go over this amount.

Matched betting

When you’re thinking of ways to make regular money, placing bets might not sound like the safest option — but then you probably aren’t familiar with matched betting. This technique makes use of the free bet offers from bookmakers to build up actual cash winnings and can be done on a regular basis.

What’s more, you don’t even need to know about sports or other betting markets to take advantage of this method, as bets are “matched” on more than one outcome, so there’s very little risk. Plus, because your income from this activity is classed as winnings, you won’t need to pay any tax.

Paid-for surveys

If you find that you have a lot of time in the evenings, why not spend some of it sharing your opinion while filling in some paid-for surveys? Though the fees for completing one aren’t huge, they aren’t time consuming and you can answer quite a few in just one evening session, so it’ll soon add up. This is a good money-making activity that can be combined with other side hustles.

It is worth taking some time to research any site that you are going to respond to, as there are some unreliable companies out there — stick to those with a good reputation and you’ll be fine.

Rent out your parking space

While it may sound a little outlandish at first, it is possible to rent out your driveway to motorists looking to a secure a regular parking space. This works well for both parties: the commuter will save money by getting a cheaper space than other parking options, and you get to pocket the fee.

Obviously, this will only work if you live in an area with great demand for parking, such as being near a city centre or business park, but you can often earn decent money for very little effort. You also need to be sure that you will not need to use the space in the near future.

Simply have a look for an online listing service near you (there’s a few of them out there) and you’re likely to find somewhere you can advertise your driveway.

Take my five suggestions for side hustles on board and you’ll be making some money to boost your regular salary in no time at all. All that’s left is to figure out what you’ll do with the cash.

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