Earning a side income (nothing dodgy)

[petitspois]

Off the back of the 'How much do you earn' thread, a few of us were chatting about ways to make a bit more cash 'on the side' and this thread is to share ideas. We're not talking Only Fans or MLM, just genuine ideas and experiences.

 

[Former_Antelopee]

Do you have to check or do they notify you?

As others say you can check. I usually always check it as someone said you do get an email however it’s usually a few days later.
I put all my savings into premium bonds. My dad said the chance of winning went up recently. I just checked it’s going up to 3.7% chance from July from 3.3% before.
Before I bought my house I had my house deposit in it so was quite a bit (30k at the highest). Whilst saving I won probably roughly £150-200 a year which is more than a saving account would give me? It was in £50/£25 prizes. My dad also told me recently they have lowered the amount of small prizes so there is more larger prizes.
This year the most I’ve had in is 4k. In Jan/feb when I only had between 1-1.5k I won £500 in jan and £100 in feb. So a lot more than previously but not won since. You have to have the bonds for a month before your in the draw.

 

[Snippysnips]

I enjoy making crafts so I've started to try an turn that into a little business for myself, I make candles, wax melts, needle felting, bookmarks, keyrings, soap, and crochet an also do diamond art, I'd also love to get back into painting an drawing an sell that an also try embroidery, like maybe get cheap t-shirts an put nice designs on, an learn how to make and sew little animals as well

My work has asked I bring in my crochet to sell an I used to sell to a little shop up my town that supports small businesses, I'd also love to build more stock an do Xmas markets

 

[JuneJuneHannah]

I sell cuttings of plants and baby plants that I also grow from cuttings. This time of year I can make around £150/ month but in winter it is generally too cold to send plants in the mail.

 

[Black.bird]

has anyone tried tutoring? just finished up my masters and wondering whether it would be worth me getting into it on the side..

Yes; in my early 20s I helped students with Latin. My students came to me via word of mouth but you could advertise on community notice boards.
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Think about jobs you wouldn't mind doing that other people either don't want, or have time, to do.

E.g., rubbish clearing, weeding, decluttering, home organizing, dog walking, pet feeding, house cleaning... Make sure you're committed to buying quality tools and equipment to get the job done, and that you don't make promises you can't fulfill. You also need to think of a point of difference - why should people use you?

If you're thinking long term and have some savings, consider buying a coffee cart (start with one). Ideally in an existing location, but whether or not that's the case make sure you (or get an expert to) look over all the fine print as to allowable trading hours, lease (land/site) term, conditions, etc. You won't have any trouble attracting staff but you will need to learn the skills so you can step in and run it when needed I've co-owned my two for a while now and we've just bought another two in a town a bit further away. Despite the cost of living going through the roof, people always seem to find money for coffee. I'd suggest you team up with another investor who is also able to work in the business if needed, but do be careful about ensuring your roles are clear.
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[Flowergirl14]

If you are over 50, get yourself a side job delivering takeaways; Tory MP Mel Stride helpfully suggests......

 

[petitspois]

In 2015, I ended up in a job I didn't like so decided to try my hand at working for myself. I didn't want to leave my job before knowing I could make it work so registered with Freelancer.com. I did copywriting work and also helped on tenders. It did bring in some decent cash but you have to be able to keep an eye very regularly for jobs coming in so you have something lined up and can bid quickly.

I'm not doing anything now.

 

[Megansnarkle]

Premium Bonds used to be a decent option when interest rates were practically nothing but now that rates have gone up you can get the same return guaranteed with an easy access account like Marcus. You don't stand a chance of winning big but we had maxed out Premium Bonds for years prior to buying a house in 2020 and never won more than £50.

 

[Grannytakesatrip]

Do you have to check or do they notify you?

You can set them up so any wins are either reinvested or paid into your bank account. The draw is at the start of the month and you can get an app on your phone to check easily

 

[thegreencow]

Premium bonds? You don't always win but it's a nice little surprise most months. Depends how much you invest though.

 

[HowlOwl]

I have had a Premium Bond for my entire life (I am 60 now), and it has never come up!

 

[Elle Woods]

How do you even set up premium bonds? I've always heard people talk about them but never quite understood / known how or what they are!

Premium Bonds

Buy Premium Bonds for yourself or a child under 16: easy access and a chance to win tax-free prizes in our monthly prize draw. Visit our site for more details.

www.nsandi.com

You can buy them here

 

[Mamacita]

The prize rate is 4% so with £600 which gives you a predicted £24 ... There's a £25 prize so it could happen of course but I think premium bonds are better the more you have.

Yeah I know, people do win with less but obviously much higher chances the more you have in. Unfortunately I don't have spare 50k to invest just now but watch this space

 

[Peggy5]

Another premium bonds fan here I only have £4k in there, I won £25 this month and have only had £25 prizes previously. Family have £50k in each and pretty much win at least £150 each month.
Considering taking it out now that interest rates are better, but I love the thrill

 

[Flowergirl14]

Premium Bonds used to be a decent option when interest rates were practically nothing but now that rates have gone up you can get the same return guaranteed with an easy access account like Marcus. You don't stand a chance of winning big but we had maxed out Premium Bonds for years prior to buying a house in 2020 and never won more than £50.

I invested £50 recently in Premium Bonds to open the account. The first month it was in the draw, I won £100!!
I've just downloaded the app to check tomorrow.

 

[LifeOfMog]

I enjoy making crafts so I've started to try an turn that into a little business for myself, I make candles, wax melts, needle felting, bookmarks, keyrings, soap, and crochet an also do diamond art, I'd also love to get back into painting an drawing an sell that an also try embroidery, like maybe get cheap t-shirts an put nice designs on, an learn how to make and sew little animals as well

My work has asked I bring in my crochet to sell an I used to sell to a little shop up my town that supports small businesses, I'd also love to build more stock an do Xmas markets

This sounds so sweet! Is it different to your day job? I bet it's nice to shut off at the end of the day and do something that takes your mind off of whats happened in the day if that makes sense?
PS if you need any social media artwork i'm your gal

 

[Mamacita]

I invested £50 recently in Premium Bonds to open the account. The first month it was in the draw, I won £100!!
I've just downloaded the app to check tomorrow.

Luck of the draw haha. I've had about 600 in it for a few months now and nothing so far. Don't really want to put more in, as someone said above, interest rates on saving accounts guarantee the amount I'd be likely to get from premium bonds prizes. I do love competitions and lottery though

 

[LifeOfMog]

Iv had premium bonds of over 40k for 3 months now and I'd won every month. Some months £100 sometimes £300. Total won is £750. I don't know what else to do with my savings so figure it's better than nothing!

How do you even set up premium bonds? I've always heard people talk about them but never quite understood / known how or what they are!

 

[Elle Woods]

I've had mine for 2 years and not won a thing

Me too! I'm disheartened every single month when I go on the prize checker and it says I've not won

 

[Flowergirl14]

Whats it called can I ask? I can't seem to find anything

Name of the thread is
Earning extra cash, what's your side hustle?