Great ways to make side income and extra money fast
Guest post by Ruth Bushi, editor at Save the Student
Thanks to the internet and insider knowledge you’ll never go short of ways to make money – but if you want to capitalise on your London location, you’ve come to the right place! Thanks to its size, buzz and bus-loads of tourists, London’s particularly well placed for a spot of entrepreneurialism. If you’re after some extra income, here are 8 ways to cash-in on your city.
#1 | Get paid to property spot
Property spotting isn’t a 9-5 job but, if luck’s on your side it can be lucrative! Keep an eye out for empty or derelict properties around London, then get onto youspotproperty.com – you’ll get a £20 gift voucher once your find is verified. If the website goes on to sell the property you’ll also earn 1% of the purchase price (so if the place sells for £300,000 you’ll make £3k). Put in the legwork and you could even be onto a nice little earner!
#2 | Try tasking
Task apps send paid mystery shopping gigs to the palm of your hand – or your smartphone, anyway. Tasks include things like visiting a store and taking photos of a product or checking prices: think small jobs for small pay (a few quid up to a tenner if you’re lucky). Location can make a difference in how often tasks come up, but that’s where London’s got your back! Try Roamler or BeMyEye, or see what else is on offer in your app store.
#3 | Be a hoarder
Sign up as a host at Stashbee and you could get paid for storing other people’s boxes, bikes or chests of drawers. The site vets both hosts and clients, with hosts then getting a storage fee (minus Stashbee’s 20% cut). How much you make depends on where in London you live and how much space you have but, as a rough guide, a spare garage could bring in around £2k a year.
#4 | Come dine with you
VizEat is a matchmaker, but for dinners rather than dates. What they do is hook-up tourists and other travellers with locals offering dining ‘experiences’ – that could be a culinary tour of Brick Lane, posh nosh at the Ritz or a home-cooked meal and sparkling conversation. Whichever it is, it helps if you’re a people person as well as a foodie! You set your own ticket prices for events to reflect your time and any entrance, eating or entertainment costs, with diners picking up VizEat’s service tab.
#5 | Put a stamp on it
Unless you’re sending out blackmail threats and begging letters, you’re never going to net big bucks mailing out postcards – but they could bring in some cash and a couple of laughs. Anyone can post jobs on freelancer’s sites like Fiverr and fivesquid – typically things like web design, writing or voice over work. Then some bright spark starting pitching handwritten postcards from cool countries and capital cities … and now it’s a thing.
#6 | Upsell charity clothes
Grabbing bargains from thrift shops and pound stores, then selling them online for more than you paid is nowt new – but your London location could give you an edge when it comes to raising the stakes. We’re talking upmarket charity shop finds: designer gear, exclusive items, and posh knick-knacks. Head for Charlotte Street (central London) or trendy/loaded neighbourhoods.
#7 | Make money from videos
Some folk reckon you can’t get rich stuffing your face; for everyone else there’s Pengest Munch. If you want to get on the YouTube gravy train, there are a couple of ways to monetise videos you make and upload to the site. The easy-but-slow way is to upload regularly and opt-in to allow adverts alongside your content. The alternative is to find a niche, get followers, then rake in the cash from sponsorship and paid placements. Need an angle? Try:
- How to get around London
- Money-saving hacks
- Secret city (the stuff you won’t find in the guidebooks!)
#8 | Rent out a room
London’s got world-class events and tourists. You’ve got a spare room. Put ‘em together and you get … paid. Whizzing round your room with a hoover and then listing it for short stays is easy: try airbnb (Get free £31 travel credits for signing up to airbnb via BrokeinLondon), wimdu or uni noticeboards. Things get trickier if you’re renting your place – but it’s not impossible! Check your tenancy agreement and get written permission from the landlord first (skip those and you’re gambling with getting chucked out). The Rent a Room scheme means you can make up to £7,500/yr tax free, but always check the smallprint for yourself!
A bit about Ruth
Ruth is an editor at Save the Student. Featuring the kind of straight-talking advice you won’t get at school, the site has everything you need to know about managing money without the migraines: student finance explained, insider info on careers, plus ways to save and scrimp without the stress.