Side hustles, Credit card hacking and part time job ideas bombard my brain daily! There are so many conflicting articles about how to make money online in the UK.
After possibly around two years research I’ve narrowed down money making online in the UK into the below eight categories. I always prefer to be the guinea pig for my readers and push myself head first into the rabbit hole of financial independence so I can recommend the ones to try.
I admit, Mr Fire and I haven’t been 100% focused on side hustles since we’ve dedicated a huge chunk of time to setting up our business. We have however done some serious research into side hustles over the years! Both of us still side hustle though and we’ve sorted through all the ones we’ve tried to get the categories below. There are definitely more than those listed below, however its important not to get bombarded with too much information and lose momentum.
This isn’t the standing in the bookies, crossing your fingers type of betting. It’s Matched Betting to be precise. In its simplest form it’s basically using some form of software to ensure you lose a minimal amount of money in order to convert online bookmakers welcome offers into real hard cash. It can get much more complicated of course (ACCA’s I’m looking at you) but for now we will keep it simple.
It seems like everyone is trying matched betting and having success. I’ve tried it (along with ACCA’s, EW Sniping and plain old gambling) and those of you who read my blog in the early days will remember my successes and failures. I’ll be writing posts about my experiences over the next few months.
It’s as simple as it sounds. You register with an app or website and then are rewarded for completing online surveys. They can range from taking 5 – 20 minutes to complete. For me the catch is, you don’t actually get rewarded in money. It’s usually some form of their own currency which means it’s hard to tell how much you are actually earning for each survey. I’ve already had fairly limited experience with this but I am willing to try it again in order to discover if you really can make money with it.
Get paid to websites/apps
Getting paid to websites vary dramatically whilst all following the same principles. You can get paid for online searches, leaving reviews, mystery shopping or completing other online activities such as games. I admit some of them interest me such as receipt scanning and getting paid to get fit whilst others sounds rather tedious (watching videos and rating them) I’m not a reviewer naturally so it’s rather hard for me to review something when I’m not really interested it. Especially as you are usually awarded some pennies not pounds.
Stock market trading scares me – plain and simple. I know all the logical reasons why it shouldn’t but it just does. For those who are less scaredy pants than me there are a tonne of online trading platforms out there.
Mr Fire dabbled with market trading back in the early days of FIRE/FI. He had some success but some devastating losses.
Affiliate marketing takes many forms – blogging, owning a website and social media marketing. The principles are all the same in the sense that you show an ad, if someone purchases through your link then you get paid a commission. The picture below explains it easily:
If you already have a good presence on social media or are getting good traffic to your blog/website then making the switch to affiliate marketing is also relatively passive. Your simply getting paid for something that you were already doing! I’m fascinated by affiliate marketing and will be doing some serious digging into this one.
Everyone and their dog has an e book now it seems. This one always sounds easier than I believe it to be in reality.
If your already a writer than this is a logical first money making opportunity! I wouldn’t really call myself a writer (plus I get bored easily) so I’m not sure if this one is for me but I will give it a try all in the name of finding the best ways to make money online!
Selling your old Stuff
From selling your old clothes to cashing in your old mobile phones – there are sites now that pay for it all. Some take more work than others but all in all your expected to at the very least post off the item your exchanging for cash.
There are lots of old electronics, clothes, books and DVD’s in the FIRE household so I’m rather looking forward to trying this one out.
Cashback sites are all about getting a little something extra for something you were going to buy anyway. Lots of friends of mine save up their cashback all year and then use it in December to buy Christmas gifts! I have a TopcashBack account and MoneyPocket (both affiliate links that don’t cost you a penny!plus TopCashBack give you £5 when you save £10 with my link) but always forget to use them! My friends usually earn at least £100 a year using cash back sites.
There is definitely a lot here to get me started on my quest to becoming a financially independent entrepreneur. Whilst I still don’t have the answer to my initial question I do now have a blueprint of what I will be testing out. I will revisit this question often in my monthly update and be sure to provide honest and no nonsense reviews along the way.
I have dabbled with a variety of the above in the past without really keeping track of what progress was made. I am a beginner in every aspect of the ones I have attempted and I will write about my successes and failures along the money making way.
How do you make money online? Where are you based? I’d love to hear what’s worked and hasn’t worked for you. Comment below!