January can bring with it some negativity; from the buzz and excitement that came from Christmas and it’s build up, to then having to sit down, get back to work, and look at the mess that your finances are in. Not to mention that you may have felt like you’ve overindulged over the festivities, and are left feeling bloated and skint. Luckily, there are things that we can do about both of them, so that you can start the next few weeks of the new year off with a bang. It is time to discover the world of side hustles.
But if you have decided that this year is the year that you get your finances in order, possibly change jobs, or look for another way to boost your income, then this post is for you. You’re not alone in wanting to make some more money, and not alone in wanting to sort your finances. So here are some pretty epic but simple ways that you can make an extra income this year, that don’t require you to work all hours under the sun. Have you thought about any of them before?
Talk To Your Boss
If you are employed by someone else, rather than being self-employed, then it can take one conversation to give your income a boost. The conversation in question? All about getting a pay rise. When was the last time that you had one? It could be a little bit of an awkward conversation, but finding out how you can get one and what you need to do, can give your income a boost. If you work full-time, every £1 that is raised can mean an extra £2,000 over a year. So having the conversation can be really worth it.
If you have a home that you could use as collateral, then it could be worth looking into investing in property. Choosing some luxury apartments in the right part of the country can mean a steady stream of income if you choose to rent them out. If renters can pay the mortgage off for you, and perhaps leave you with a little extra each month, then you are going to boost your income in a big way. Not to mention that you will have property in your name that you can do as you please with. You could also look to buy, do a property up, and then sell it on, if you’re looking for faster cash. There are more risks with this, though, so work out all the maths before taking the leap.
Rent a Room
Along similar lines, and without needing to have cash upfront to invest in, you could rent out a spare room in your home if you are a homeowner. With sites like Airbnb on the rise, more and more people are taking advantage of this opportunity to generate an extra income. Plus, if you were going on holiday yourself, you could rent the whole home temporarily, rather than just one room. There’s some admin to do to get set up, but from there, you can just list it as often you want a lodger to be there.
Shop and Sell
If you’ve been watching ‘Girl Boss’ on Netflix, you’ll know that it is the true story behind the vintage clothing line ‘Nasty Gal’. Where basically, she found vintage items of clothing in stores or in house sales, cleaned them up and repaired them if needed, and then sold them on. This kind of hobby can be as big or small as you need it to be. So if you’ve got an eye for a bargain, and enjoy this kind of thing, buying and then selling on could be a fun way to make some money.
Sign Up To Freelancer Sites
With sites like PeopleperHour and Fiverr on the rise, people pitch for what they want and then you can apply to do it for them, or with Fiverr, do something else in return. If you have a keen interest in web design or graphic design, for example, people will post on those sites that you’re looking for someone to design a website that you could apply to do. The same goes for social media marketing or copywriting. So with a skill and some extra time, you can generate an extra income for sure.
Consider Network Marketing one of the popular side hustles
There is a bit of negativity around network marketing. It can feel a little cringe-worthy to say the least, when you get a DM through your Instagram about trying out some wraps. But the best way to make money with network marketing, is by signing up to one that really interest you. If you love makeup, then a makeup one would work well, as it would be something that you naturally talk about. If you love health and fitness, then something like Beachbody would work as again, it could come naturally to you to talk about it. So if there is one that takes your interest, then it could be worth looking into to have as a bit of a side hustle.
Get a Better Bank Account
Loyalty gets you nowhere when it comes to your bank account. So if you have had the same one for a long time, then why don’t you switch? First of all, a lot of banks offer a switching bonus of cash into your account. They are nearly always over £100, which is just free money. Secondly, having a better account for your money does pay in other ways. If the bank account offers a higher rate of interest, then you will be getting more than before, just having your money sitting there. So a simple way to boost your finances is to look at where they are being held. It can be a quick change as they’ll do it all for you, but can make a difference to your money over the year.
Have you set yourself any goals for the year that you want to achieve? Are any of them related to your finances? It would be great to hear what you think and your own ideas for side hustles.