As mentioned in my about me I truly believe ANYONE can make some extra money if they want to. I’m not saying it’s going to instantly make you rich, but that extra £500 could help you set up that new business that you didn’t think you could afford the supplies for. Could help you expand your current business with better equipment etc or could just give you some nice extra treats each month.
If you made £500 extra every month for just one year, that’s £6000 extra to put into your dream business and then the sky is the limit.
If it seems daunting, I have created a sheet here, which you can download and print. Stick it by your desk and tick it off £10 at a time, 50x £10 makes it much more doable, you’ll be amazed how quickly it is completed.
Here’s 5 ways you can make £500 this month:
No. 1 – Declutter
We can all do it, it’s free and if it’s old things that belonged to you it’s also tax free.
Theres a good chance you’ve got an old phone in a drawer, or even old phone chargers, computer games, maybe consoles even. At the time of writing we are just in another Lockdown due to Covid-19 here in the UK so it will be a perfect time to sell board games, jigsaws, books etc – people will be home bored and looking for something to do. The same goes for old bikes, exercise bikes etc also as gyms are currently shut. Someone can grab a bargain and you can get rid of something you no longer need.
I quickly had a look in my office and drawers and here are 6 things I quickly found that have sat there for literally years in most cases.
- Monopoly Millennials – Played once, excellent condition – £10
- Nintendo 2ds, Animal Crossing, Professor Layton, Zelda, with a case and charger (not in picture) – £50
- Dobble – Used but got the Harry Potter one for Christmas – £5
- The Wire Boxset – £5
- Iphone no charger – £50
- White MacBook with charger – £100ish
To check what things are roughly worth – search for them on eBay and filter it down to ‘sold’ and it will only show you items that have actually sold and for what price. You may want to sell slightly cheaper if you list on marketplace as you don’t have fees or the hassle of delivery on there, but it’s a good starting place to get a estimated value.
So from the above list we have around £220. Obviously I know not everyone will have electricals lying around spare, but all of these little amounts will soon add up and if you sell on facebook marketplace, you have no fees, and generally people will collect. Sheds and garages are good places to check too.
No. 2 – Matched Betting
Matched betting is a great way to make free money and I myself did it full time for years. Although the offers aren’t as lucrative now I took a quick look and I’m certain you could still comfortable make £500 a month if you put in a few hours a week into it.
The basic way to describe matched betting is that you are taking advantage of the offers the bookmakers put out their in order to entice new customers.
For example. Bookmaker A will say bet £50 and we will give you a £50 free bet for doing so.
You can back team A with your £50, and lay (sell) team A to make lets say a guaranteed £4 loss. You’ve lost £4 but you’ve earnt a £50 freebet. Do the same method again and you’ve lost £8 but gained £50 – leaving you with £42 profit. You then move onto the next bookmaker for their welcome offer.
Why do they do this? Because, they have a lot of competition and generally once a regular gambler starts using a bookmaker they will be loyal to them and place all of their regular stakes there. Matched bettors aren’t loyal, they open accounts at as many bookmakers that they can just for the offers.
You can see just in the above image – which only shows the main stream bookmakers alone theres several hundred pounds of free bets available to work your way through.
Now is the perfect time to start matched betting and learn, as Cheltenham Festival in March has always had the very best offers of the year and if you have built a bankroll and know what you are doing by then it can be lucrative for you. The best way to get started is to open an account here at Profit Accumulator. They are rated the best for teaching Matched betting and offer to walk you through the first two promotions for free. The money you make on these two offers will then cover the subscription cost easily, so you can do more offers and build your bankroll quickly.
My inbox is always open to any questions or if you want anything double checking. I don’t keep up with day to day offers anymore but I know how most work still. To get started check out Profit Accumulator, they have a free trial and list all of the offers, how to do them, have a forum to ask questions and you’ll make way more than your money back each month if you stay on past the free trial
*If you have a tendency to get addicted to things easily it may be one to avoid, it’s not gambling and it is totally risk free as long as you 100% stick to the rules and aren’t tempted to gamble.
No. 3 – Reselling
Currently my main business is reselling so I would be foolish to not include it.
Generally there seems to be two routes to go with this in general. Ebay or Amazon (or both)
Personally I use Amazon mostly but I know a lot of people that do very well from Ebay with used items, bundles and vintage also.
Try not to overthink it, get started by simply choosing your platform, downloading their app and registering an account. Once you’ve got the app just scan things lying around your house with barcodes on and get a feel for how to use the app and what all of the bits mean, categories, rank, prices etc.
If you are going to be buying things with the purpose of reselling you will need to declare those earnings and register with HMRC, I’m not a financial advisor so double check what you need with a professional if you are unsure.
To get started, you can go through your own things and get some cash together that way to then purchase stock with. If you bought £100 of stock and made £25 profit, you can then buy £125 of stock and flip it again. Keep compounding that money and it will quickly grow.
Whilst choosing things that you like to sell is good, ie you might love fashion, you might find that isn’t what sells best or you can’t find stock as easily, so don’t pigeon hole yourself into a niche, just test it and see what works for you. I’ll be doing a lot more reselling posts in the future on how to get into Amazon, grow it, source etc
No. 4 – Freelance
Freelancing is a great way to make some extra money on the side as it completely fits around your current work and commitments. You set your price and you only commit to work you know you have time for.
As a graphic designer I personally used the website Upwork to find work. If you check out my instagram @ukmoneymaker1 there is a post with tips on how best to utilise the site and make the most money possible, so if that’s something you want to try give that post a look.
You don’t have to be super creative to get freelance work online. Upwork does have a lot of creative jobs but on Upwork alone there are jobs wanting people to write copy, do accountancy, book keeping, marketing, manage social media, audio type, proof read or format books, its honestly endless.
You also have sites like fivver which I personally find a bit more diverse and has such a huge range of jobs from voiceover work, mixing music for people, people selling cooking lessons. It does also have all of the general categories like graphic design and VA’s too.
The good thing with these websites is payment is all out of your hands. You agree with someone to do a project, they then get the payment held in Upwork/Fivver and when you both agree the project is complete the money is released to you. Any dispute and the websites usually mediate and hold the money until there is a resolution, so no risk of non paying clients.
Clients not only review you, but they can be reviewed too, so before even accepting a project you can see if this client has been difficult with freelancers previously which is also a good way to weed out time wasters.
No.5 – Become a delivery driver
Hermes, Amazon, Ubereats, Deliveroo.
All of these companies offer flexible work, where as long as you have your own vehicle and pass some basic checks, you can sign up and deliver parcels and food for them.
Whilst these don’t necessarily pay great, they generally work out above minimum wage are really great to fit around things you already do such as if your children are in school.
In general you log into the app and accept shifts you want, or you log in and wait for an order to pop up, where you can then accept , collect and deliver in the case of the food companies.
Whilst delivery driving probably isn’t going to make you rich, it’s good side money to either pay some extra bills, buy some extra luxuries or save and invest into something else.
If you desperately want to start a side business but your money is covered all month, this could be a great way to make that little extra each week to help you get to the business dreams that little bit quicker.
If you’ve read this far, thanks so much, I appreciate you all. I’ll be writing about all of these things in more depth at some point, hopefully it will give you some inspiration and if you do decide to do any, please let me know how you get on I love hearing people doing well.