Are you trying to figure out a way to make an extra £500 every month? Maybe you want to settle off debt, raise your retirement fund contribution, or just be able to put more cash into your savings account every month. There are numerous methods, no matter the reason for wanting to make a few extra pounds.
This blog is your guide to traversing an array of diverse and rewarding side hustles, providing insights, tips, and inspiration for transforming your spare time into an excellent pursuit.
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Let’s dive into the world of opportunities and discover how to transform your goals into tangible financial rewards.
Table of contents
Top lucrative side hustles for an additional £500 monthly income
Freelance writing
Freelance writing can be a highly profitable side hustle. Whether you want to make a few thousand pounds every month or replace your paycheck with a writing company, it is entirely possible.
Although you can start by pitching web pages and publications that seem interesting to you, you might have greater success by taking a course that defines the best practices for freelance writing.
One of the best things about selecting freelance writing as an additional income is its adaptability. You’ll readily be able to work around your other commitments while gaining passive income each month.
Virtual Assistant
As an online assistant, you can assist clients with duties not tied to a particular place. You might help establish travel plans, respond to emails, and more.
Your customers will influence the type of work you will do. Virtual assistants have an excellent earning potential with an abundance of flexibility.
Although building your portfolio might require some time upfront, making £500 extra money is feasible.
Proofread content
If you like identifying errors in written content and want to find out how to make an extra £500 a month, then proofreading can be right for you.
Proofreading can be an extra income or a full-time work-from-home profession for you.
As a proofreader, you may proofread blog posts, articles, ads, books, student papers, messages, and more.
Proofreading skills are the most essential abilities you need for this job. In addition, you will require an internet connection to proofread from a computer, laptop, or tablet.
Tutoring
Many individuals are looking for tutors to assist them in making it through a class or getting ready for a big test. If you’re skilled, tutoring others could be a great way to increase your income. With flexible hours, it could be an ideal chance that matches your lifestyle.
To be a tutor, you must have the right qualifications for the subject—research to determine the necessity of a tutor in your field. In certain instances, you only need a high school degree. In some circumstances, you might require an advanced degree.
Once you learn what subjects you can teach, set your fees and begin looking out for clients. If you live near a secondary school or college campus, that might be an ideal location to start marketing your services.
Web design
If you’re tech-savvy, you might enjoy coding and designing websites for bloggers and small businesses. Because this is a technical job that calls for a certain skill set, you can charge more per hour if you are good at it!
You can specialise in a wide range of web design-related areas. Perhaps you’d like to design images for bloggers, or you’re better at coding and would like to design your WordPress theme.
Blogging
Blogging has become increasingly popular, so it could be a great side business. You can create an online blog to earn money by sharing your opinions, product reviews, or programming tutorials.
Utilising affiliate networks to make commissions is an excellent way to get passive revenue, but you can also earn through display ads and sponsorship deals.
Market research
Market research is a useful and straightforward side hustle that enables individuals to express their views and knowledge while earning extra income. Multiple online surveys and market research panels connect individuals with businesses looking for valuable feedback on goods, services, and trends.
By signing up for such websites, individuals can get online surveys specific to their demographics and interests. Not only does market research give people a platform to voice their opinions, but it also offers a convenient way to earn extra cash on the side.
Compensation payment options could include cash, gift cards, or other incentives, depending on the platform. This side gig is especially tempting for people who value flexibility and want to make a small but meaningful contribution to changing consumer preferences.
Monetise a YouTube channel
YouTube has 2.7 billion users who watch 1 billion hours of videos daily. It takes time to grow a large enough audience for YouTube ads to be profitable, so finding a more direct way to make money is preferable to waiting for ads to become profitable.
Fortunately, there are many techniques to earn money on YouTube, such as creating engaging content that appeals to your target market first. As your audience expands, consider generating additional revenue through paid sponsorships, subscriptions, or goods for online sales.
Personal finance
Think about using your financial expertise by offering advisory services for personal finance. Many people ask for debt management, financial planning, and budgeting guidance.
Helping people with their financial journeys can be rewarding, whether you create an online course, provide one-on-one counselling, or maintain an insightful blog.
Hire an Accountants
Work with a UK-based accountant for tax, accounting, payroll, & EIS/ SEIS needs.
Final thoughts
If you have to earn £500 per month, modify a few of these suggestions to fit your needs. All you need to do is get the word out about your new services or side projects once you decide what to do.
Since most of us depend on traditional jobs to make a living, earning extra money online requires a unique skill that isn’t always obvious. Side hustles allow you to explore small business ideas and practise them in reality.
