With the coronavirus pandemic dominating 2020, this has been a year of financial uncertainty for many of us. In fact, during lockdown, one in five of us started some form of ‘side hustle’ to make extra cash, according to internet company GoDaddy. From renting out your driveway as a parking space, to selling your digital snaps, there are plenty of ways you can make money from home.
Don’t forget that we all have a ‘tax free’ personal allowance of £12,500 a year. On top of this, you can also earn an extra £1,000 tax-free from ‘casual’ extra income. This includes making money from home, online or from small freelance jobs. If you’re in any doubt about your earnings, speak to HMRC.
So, if your household budget is feeling the pinch, here are 11 ways to boost your income that you may not have thought of.
1. Hire out your home
If you’re away or got a second home to let, with Airbnb you can fix your price and list your place for free.
Letting for four nights a month can earn you £3,744 a year in Cambridge or £6,344 in Cardiff. Airbnb take a 3% cut as a booking fee. There’s tighter rules on cleaning between guests right now with details on the website.
2. Be a prize winner
May not be cold hard cash, but why not sell any prizes you win?
With competition site Loquax, prizes include a Samsung 55 inch Smart TV, £50 B&Q voucher and Spa Day. Free to register, browse competitions and click links to enter.
Freebie site www.latestfreestuff.co.uk also runs free prize draws which include £1,000 of vouchers from M&S, John Lewis or Argos.
3. Start tutoring
Online tutors are in demand with parents keen to help kids catch up on missed school time. You can earn between £15 – £35 an hour if you register with Tutorful, which takes a 20–25% commission per lesson.
4. Spread the word
Don’t be shy; tell your friends and family about your new mobile or TV package.
‘Refer a Friend’ deals mean payday for you, and usually your friend too. Sky TV customers can get a £75 Prepaid Mastercard if a friend joins; the AA offer a £20 Amazon or M&S voucher and it’s £80 with 3 Mobile.
Check offer details as you may need to log in and send friends a special code to join and activate the bonus.
5. Rent your driveway
Don’t use your drive or got a spare parking space? Turn it into a goldmine.
You can earn an average of £1,500 a year with JustPark, but could make up to £3,000 a year
in city centres. There’s a 3% commission taken before payment. It’s worth a call to your household insurer to let them know you’re doing this; however any claim for damage shouldn’t be down to you with drivers typically expected to claim on their own motor policy in the unlikely event there’s any damage to their vehicle.
6. Clear your clutter
Spending more time at home? Clear your loft, shed or garage as unwanted clutter is worth an average of £2,600.
Sell on eBay. Private sellers can list up to 1,000 items a month free and pay a 10% fee on sales.
Got lots of CD’s, DVD’s or games? Scan them with the MusicMagpie app for an instant price. Comes with free postal or courier service too.
For books try www.webuybooks.co.uk where the average made is £32.
7. Take in a lodger
If you’ve got a spare room, let it out. Under the Government’s ‘Rent A Room’ scheme, you can make up to £7,500 a year tax free. And that’s on top of your ‘tax free’ personal allowance of £12,500.
Rooms should be furnished. Speak to your mortgage lender and home insurer first and check local government rules in your area in the current climate.
8. Sell your snaps
Missed out on this year’s holiday? Make money from last year’s memories.
Travel, wildlife, transport and sports are some of the shots needed by picture agencies. With Alamy, you can register; load up your snaps and they can be on the site within 24 hours, subject to quality checks.
You can earn up to 50% of the ‘usage’ fee. We found beach views going for £35.99 for online use and up to £180 for company marketing packages. For photos on iPhones, load them up using the Stockimo app.
9. Make money from tech
We’ve got around £598 in unused gadgets kicking around our homes.
Sell old laptops and computers on sites like Cash In Your Gadgets. As a rough guide you’ll get £111 for a 9 year old Macbook or £140 for a 4 year old Acer Aspire laptop.
In all cases you get an upfront price before sending items. Gadgets must be in good working condition, (or they’ll be returned). Free courier service with payment by PayPal or bank transfer.
10. Loan your stuff
Got a sewing machine, bike or guitar you don’t use?
Rent them locally at Fat Llama. That sewing machine could earn you £20 a day or around £30 for your bike or guitar. Items are covered by insurance up to £25,000. Fat Llama take a 25% cut of the hire fee before transferring the money to you.
Got spare storage? Services like Store Mates hook you up with people who need it. You can make £100 a month renting your garage in Birmingham and £92 for loft space in Oxford.
Free to list with a 16.5% fee per payment. Check with your home insurer first.
11. Sell on Etsy
If you’ve been getting creative during lockdown; sell your creations like jewellery, cards or prints on Etsy. Fees are roughly 10% per sale.
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