How To Make Money Online

With the cost of living rising rapidly, many households may be looking for ways to create extra money. This does not require a second job. With a broadband connection, there are several methods to make money online from home. Here are some top examples. A £1,000 ‘trading allowance’ allows Brits to earn up to £1,000 a year tax-free from ‘side hustles’ like selling stuff on eBay or taking online surveys since 2017.

Those earning more from online extras must register as self-employed with HMRC and pay tax on their profits. This article discusses how dividends are taxed individually.

1. Have your say

Some websites will pay you for your opinion on shampoo, dog food, or the current TV show. Sign up for surveys on i-Say (formerly Ipsos), Swagbucks, YouGov, and Opinion Outpost. Once you join, they’ll email you survey eligibility and pay information.

Focus groups offer additional depth and need in-person sessions. They pay well—up to £100 an hour or two. Start at Takepartinresearch.co.uk or Paidfocusgroups.co.uk.

2. Pocket some ‘passive’ income

Passive income doesn’t require much time or money. Stock market investing can create passive income, but it requires a long-term strategy. Of course, you may get less than you put in. Bitcoin and Ethereum are hyped, but you should think twice before investing. Check out Trust No one: The Hunt For The Crypto King on Netflix to see how it can all go wrong with these volatile virtual currencies and scams.

3. Become a virtual tutor

This side gig is perfect for smart university students who want to coach 11-plus, school entry, GCSE, or A-level pupils. Due to the epidemic, students are used to remote learning, thus you no longer need to travel to tutor them. Helping pupils improve their GCSE and A-level math’s, English, and science results can earn you up to £20 an hour. Find clients on Super prof, My Tutor, or via word of mouth.

4. Rent out your parking space

Renting out off-street parking near a rail station, football stadium, or city center can offer a steady revenue. You can rent your area hourly, daily, weekly, or monthly. You can list your parking space on Just Park, Park Let, Your Parking Space, and Park On My Drive. Some sites charge a listing fee and commission on bookings.

You must communicate with the booking driver, offering directions and assuring access. You should also verify your home insurance for enough liability coverage.

5. Using cash-back websites

Making purchases on cash-back websites can build up to several hundred pounds annually. Register on Topcashback or Quidco and search for the online merchant or company you want to buy from. Clicking on the link takes you to the company’s website, which tracks your visit. Complete the purchase as usual.

Many cash-back services have no sign-up fee, while some charge a small yearly membership fee for larger cash-back. Current Top cashback rates include 10% for Expedia, 10% for new Very customers, and £25-100 for insurance. Cashback is not guaranteed, and even if you follow the correct method, it may be refused or paid less.

6. Sign up for freelance work online

With the rise of remote working, freelancing employment are plentiful online. Start with Upwork, Freelancer, or Peopleperhour.

Freelance writing, bookkeeping, business plans, sales, marketing, and administrative services are available.

After signing up and entering your abilities and experience, you can ‘bid’ for client freelancing work. Look at project rates to get the right bid price (if it’s not established).

You may need to submit work samples or attend an interview to learn if you’re accepted. Customers may contact you directly to bid on their work.

The freelance website pays, but they may take a commission or charge for services. Requesting client comments on finished services can help boost your profile.

7. Selling limited edition trainers

Due to Nike and Adidas’ limited-edition versions, trainers have become fashion items. These have considerable resale value, but procuring them is difficult.

Those willing to spend time and money follow Nike and Footlocker to learn when the most popular models are released. The process ranges from joining a raffle to buy a pair in a given size to calling up to reserve a pair for pickup.

Example: The Nike Air Jordan 4 White and Black footwear sold for £180 when released and are now selling for £300 on eBay. Popular sizes include men’s 8-11.

However, you must consider selling costs, delivery, and eBay’s authenticators’ inspection of the sneakers before shipment. You should also estimate trainer demand before buying to prevent overpriced stock.

8. Sell stock photos

Do you have a keen eye for photos? Try stock photography. Photo libraries like iStock and Getty Images let users post photographs and earn a small royalty.

You may start by photographing your neighborhood, cuisine you prepare, and intriguing structures, or set up sceneries at home.

A model release form must be signed if your images contain others or their property. These forms, which are freely available online, give photographers permission to use their photos of people and properties for commercial reasons. Some websites require model releases for uploads.

Stock pictures have many uses, therefore the possibilities are unlimited. It takes time and effort to develop a profitable image collection, but it will generate passive money.

9. Get paid for dog-walking

Do you like walking? It may be worth offering dog-walking. Wag!, Bark!, and Rover allow online registration.n30–60 minute walks, drop-in visits, house sittings, and ‘doggie day care’ and ‘dog boarding’ in your home are typical services. Sitters and owners can negotiate pricing despite a guide rate.

For instance, Rover charges the dog walker and owner 15% of the service value, limited at £49 each booking. For dog-related services, check with your local council for licensing requirements.

10. Rent out a room, or even your home

In recent years, Airbnb and VRBO have grown in popularity. They let homeowners rent rooms or entire residences to guests.

Over 8 million Brits booked Airbnb properties in 2017-2018, according to Airbnb. Hosting homes for 36 days a year earned hosts £3,600 on average.

Airbnb charges hosts 3-4% of the rental value and guests 14% (including a cleaning fee). Remember that the government’s Rent a Room Scheme lets you earn up to £7,500 tax-free by renting out a room or the full house.

When renting property, you must also consider your mortgage and house insurance policy, freeholder approval, and specialist insurance. London hosts cannot rent their property for more than 90 days per year on short-term rental platforms.

11. Sell your crafts on Etsy

Etsy lets people sell their handmade and other goods, which may appeal to hobbyists trying to make money. It takes longer than selling on eBay since you have to setup a shop and make sure each product has a detailed description and nice images.

The pandemic saw clothes, jewelry, homeware, and handbags sell best on Etsy, which has 90 million active consumers. Etsy charges $0.20 (£0.16) each item for listing, 6.5% transaction, and 4% + £0.20 payment processing. You may also pay Etsy to promote your products online.

12. Share your way with words

With a little work, you can transform your writing passion into monthly cash. Bloggers often hire freelancers to write material for their sites. You might pitch ideas to your favorite blogs or use People Per Hour to advertise your services and pitch for listed jobs.

Many website owners use these sites for proofreading, so if you’re detail-oriented, you can offer it. These platforms let you to market practically any service, from graphic design to interview transcription, while writing and proofreading are common. If you find work through People Per Hour, the website will take a cut of your profits.

13. Buying goods from police auctions

It’s lawful to buy stolen products. Police auction stolen stuff they can’t return. Metropolitan, Devon and Cornwall, Suffolk, Durham, and Hertfordshire police departments use Bumblebee Auctions. Items include jewelry, bikes, cameras, tools, and computers. You may have to pick up the item, although some things can be delivered for a fee.

Sussex and Leicester police forces sell their stuff on eBay. We list hedge trimmers, trainers, games consoles, and PCs. These goods can be used personally or sold on eBay and Facebook Marketplace if they work.

14. Rent out your property as a film location

You can offer your flat or house for photo shoots. No mansion is required; ‘gritty’ houses are in demand. If you live in London or nearby and have adequate parking, your chances grow.

Shoots might take hours or months. Although damage may occur, your property should be restored, including interim redecorating.

List your property on Amazing Space, Shoot Factory, Location Works, or Scouty. Scouty says hosts make £500–£2,500 per month for 1–3 appointments. Booking commissions are 15%, but they handle payments.

15. Use supermarket loyalty schemes

On extreme couponing US shows, customers lower their shop’s price from $300 to $10 by cashing in a fistful of coupons. If you don’t want a long checkout line, couponing can be done moderately.

App-based loyalty programs are common at large supermarkets. Waitrose’s app offers weekly vouchers for discounts on selected products. Like the Tesco Clubcard app, bonus and double points vouchers can be redeemed for future purchases or partner benefits.

If you’re ready to commit monthly, the Tesco Clubcard Plus Scheme offers a 10% discount on two shops per month (up to £20 each time) for £7.99.

Shopmium offers cashback on selected products from Tesco, Sainsbury’s, Asda, Morrisons, and Waitrose. After buying the product, scan the receipt and barcode for PayPal or bank transfer cashback.

16. ‘Flip’ domain names

Some domain names fetch millions of pounds, but others sell for a few pennies. Domain flipping is buying a domain name inexpensively and selling it for more.

GoDaddy values Cars.com at $872m (£707m). If you could go back in time, you should have bought it. Sex.com is worth $13m (£10.5m) and shoes.com $9m. To make money this way, find a domain name that could become popular and buy it cheaply.

17. Sell your old

When new smartphones and other devices come out, most people update. This means many UK closets and cabinets hold ancient smartphones, cameras, and games consoles.

MPB.com, a photographic gear retailer, reports that half of UK individuals have six or more gadgets. Trade these for an average of £1,332.

If you upgrade your phone, your network may discard it. Trading in your old phone gets you a discount on a new device from O2 Recycle.

18. Create content and influence people

Besides celebrities, ‘micro influencers’ make money on Instagram by creating and sharing content. Success requires a huge, engaged, and enthusiastic following that likes, shares, and comments on your social media posts.

Most social media influencers start by pitching and photographing firms’ products for free before getting paid for Instagram and Facebook product postings. You must use hashtags like #ad to disclose that you’re being paid to post.

19. Become a ‘comper’

‘Compers’ make money by winning online, TV, and radio contests. Radio stations often offer five-figure prizes in text-in competitions. Prizes often include cars, holidays, tech gadgets, appliances, gig tickets, and more.

Pro compers locate hundreds of weekly competitions by subscribing to Compers News or Theprizefinder.com. Set up a competition email account before you start to avoid spam and newsletters in your email inbox.mCompetitions that require effort, like creating a slogan, are most likely to be won.

20. Get into ‘dropshipping’

Retailers employ dropshipping as a ‘fulfillment method’ instead of eBay and Facebook. Dropshippers acquire things from a third party and ship them to clients. Importantly, you don’t need to acquire or own stock. Find a UK-selling product to generate money. AliExpress is an excellent place to find stuff.

Next, create a Shopify or eBay shop and find buyers using Facebook or Instagram marketing. You profit by advertising the product at a greater price than you bought it. You buy the product from AliExpress and ship it directly to the buyer.

Source: Forbes ADVISOR