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5 Ways to Make More Money
With inflation eating away at most people’s monthly pay packets, as well as fewer job opportunities and cutbacks in Government benefits, making enough money to get by on can be tough.
But you don’t have to simply do extra hours at work or get a regular second job to make ends meet. Follow these 5 ideas on how you could make more money.
Rent out a Room – Renting out an unused room is a great way to save money. You could earn up to £4,250 a year and have no tax to pay on rental income. Remember though that by renting out a room you are becoming a Landlord, so there are things you will need to bear in mind and certain legal responsibilities to follow.
Teach – We’re not talking about Maths or English unless you are an expert, of course, but most of us have a skill that we could teach someone else. Whether it’s football coaching, guitar lessons, cooking, or may something a bit less exciting like Powerpoint or Excel, think about your skill sets and see if there is a way you can offer your services to earn some extra cash.
House sitting - House sitting is a great way to earn an extra income. All you have to do is check on a house, or stay round there, while occupants are away. Plan it around your local area, or even better close to where you work and you could even cut down on your commuting costs when travelling to work, too.
Dog Walking – Got a spare couple of hours in the middle of the day? Like dogs? Many people who work full time are keen to have someone take their four-legged friend out on a walk in the middle of the day. A dog walker can earn as much as £10 per dog, per hour, so taking two or three dogs out at a time could be an extremely lucrative extra income.
Make Something – Whether your skill is making furniture or making cakes; designing clothes or creating jewellery, if you have a particular creative skill, put it to good use and make something. You could either sell what you make online via eBay, or push your wares towards local shops, who may wish to purchase something made locally while still supporting local business initiatives.
There are many ways to make some extra cash, but remember, any extra income you make on top of your job should be declared to HM Revenue & Customs and you will have to register as self-employed. For advice on second jobs and tax visit: www.hmrc.gov.uk
Moneyextra.com recommends you take independent financial advice before acting on any article
Back2011-10-03 16:01:42 © Moneyextra.com