With the cost of living rising significantly in the UK, more and more people are looking for ways to increase their income and diversify how they earn money to give them a more stable income and way of life.
Nothing can be taken for granted anymore. With finances stretched, knowing how to increase your finances can help ease the burden of paying your bills and afford your current lifestyle amidst all of the rises.
Students are increasingly turning to online tutoring services, as it allows them to find help with specific areas of their coursework instead of having to find an in-person tutor who might not specialise in what they need help with. Tutoring is one of the most lucrative side hustles, not just because it’s easy to find students. Tutors often command hourly rates of £15 – £30 or more, meaning you can earn hundreds of pounds per week by helping out students who need extra assistance with coursework. It’s also an appealing side hustle for students themselves, as it allows them to earn money while studying simultaneously and is something they can do from home whenever they have free time.
An increasing number of online businesses are turning to outsource content creation. As a result, content creators are in high demand and can earn significant amounts of money from home by creating articles and other forms of digital content for others. Several websites are intermediaries between freelance content creators and businesses seeking to outsource work. Commission-based sites like Upwork and Freelancer have hundreds of thousands of users, making it easy to find clients, create projects, and get paid.
Blogs are versatile, easy to monetize, and can be created around almost any subject, making them an attractive side hustle for people interested in exploring various topics. There are numerous ways to monetize a blog, including advertising, affiliate marketing, sponsored posts, and product reviews. Successful blogs have the potential to generate significant income, and many bloggers make enough money from their blogs to be their full-time job.
Virtual Assistant Services
Businesses of all types are turning to virtual assistants to help with a wide variety of tasks, and many individuals are using these services to earn extra money. Some employers even hire virtual assistants to do full-time work, meaning this is a side hustle that can easily transition into a full-time job. There are various ways to find clients and land work as a virtual assistant, including websites like PeoplePerHour and Virtual Staff Finder.
If you have a knack for creative writing, freelance writing can be a great way to earn extra money. While the pay for this type of work can vary significantly based on your work and the client you’re working for, it’s often comparable to what you would make in a traditional job. There are a variety of websites that serve as intermediaries between freelance writers and businesses looking to outsource work. Some of the most popular freelance writing websites include Upwork and Freelancer, and these sites make it easy to find clients, create projects, and get paid.
Dropshipping is a business model that involves finding and selling items for a supplier and then having them shipped directly to your customers. While you don’t have these items in your possession, they’re often sold at a discount because the retailer who runs the wholesale shop doesn’t have to ship them directly to you. The advantages of dropshipping are that it’s easy to start, doesn’t require you to have a lot of money to invest, and it can be done from a computer or mobile device. The disadvantage is that you don’t have the items in your possession, so if a customer wants a refund, you have to issue it to them.
You could earn money as a freelance consultant if you have industry experience and expertise in a specific field. This side hustle is ideal for people with expertise in a particular industry and can offer their insight as an outsourced service. Several websites are intermediaries between freelance consultants and people looking to hire them. If you know your skill-set is valuable, this can be a great way to earn money.
Editing and Proofreading
Many business owners hire editors and proofreaders to review their content for accuracy and quality, creating a significant demand for freelance editors and proofreaders. Some editors and proofreaders can make a full-time living from this side hustle. To find editing and proofreading work, you can visit websites like Upwork or Freelancer, where you can create a profile and let potential clients know about your expertise.
Many people use the internet to source various services and products and often need documents translated into their native language. If you are fluent in more than one language, you could earn money as a translator. As more people use the internet to source products and services, the demand for freelance translators is expected to rise, making this a lucrative side hustle that can also have a meaningful impact on society.
The best side hustles are the ones that allow you to do what you love while also making money. A good side hustle will allow you to earn extra cash while also helping you build new skills and explore new interests. With this list, you can explore a variety of lucrative side hustles that are expected to grow in popularity over the next few years.