How to Make an Extra 500 a Month UK
Looking to add an extra £500 to your pocket this month? Well, you’re in luck!
There are plenty of ways to ramp up your earnings, and guess what?
You don’t even have to step out of your front door.
I remember when I first set out on my journey to earn an additional £500 every month.
It was a goal I was determined to hit, and I did it.
I discovered a handful of side gigs and income streams that really clicked for me.
They’ve since grown into a full-blown livelihood!
Now, whether you’re just after a little income boost or you’re looking to kickstart something that could eventually bring in even more money, I’ve got some fantastic ideas to help you rake in an extra £500 monthly.
The good news is that a bunch of these can put cash in your bank account right away.
Plus, most can be tackled from the comfort of your own home, on your own schedule.
Ideal, right? Especially if you’re juggling family life.
So, let’s dive into these savvy ways how to make an extra 500 a month UK.
You’re about to discover a whole new world of extra money flowing into your bank account!
Why an Extra £500?
You’re probably wondering why £500? Well, why not?
If you’re willing to put in some work, you can make a significant amount of extra money each month on top of your full-time job.
But not everyone has the time to make thousands of pounds from their side hustles.
£500 is a more achievable goal. It’s an amount that you can realistically earn without having to dedicate too much time or effort.
And an extra £500 can make a big difference to your bank balance, emergency fund, and overall financial situation.
So, if you’re interested in making some extra cash, £500 is a great starting point.
Here are a few ideas on how to do it:
Save money: This may seem counterintuitive, but saving money can actually help you make more money.
When you have a healthy savings cushion, you’re less likely to spend money unnecessarily.
This can free up more cash flow for other things, such as investing or starting a side hustle.
Earn extra cash: There are a number of ways to earn extra money, even if you only have a little bit of time to spare.
You could start a blog, freelance your skills, or do some odd jobs for neighbors or friends.
Invest in passive income: Passive income is income you earn without actively working for it.
This could include investing in dividends stocks, rental properties, or other assets that generate income over time.
No matter which approach you choose, making an extra £500 a month is definitely possible.
And it can be a great way to boost your savings, emergency fund, and overall financial situation.
Sell Old Items
If you have stuff lying around that you don’t use anymore, well, you could be sitting on a gold mine!
Selling your old or unwanted stuff is a great way to make some extra cash, and it’s easier than you think.
Here are a few ideas to get you started:
- Facebook Marketplace: This is a great platform for selling large items, like furniture or electronics. You can avoid costly fees and delivery hassle by selling locally.
- eBay: eBay is a good option for selling more valuable items, like jewelry or antiques. You can gain a wider audience and attract better prices.
- Vinted: Vinted is a great place to sell old clothes and shoes. Cheap stuff sells well, and you don’t pay any fees.
- Music Magpie and Ziffit: These websites will buy your unwanted books, CDs, and DVDs. It’s a quick and easy way to declutter your belongings and make some cash.
- Sell My Mobile: This website can help you find the best price for your old mobile phone.
- Cash for Gold: If you have any old gold jewelry, you can take it to a local Cash for Gold counter to sell it.
You can also sell your products online or at a car boot sale or yard sale in your own home.
Market Research and Surveys
Market research is a great option for a side hustle when you need to make some extra cash.
Studies usually require an hour or two of your time, but they pay well.
Here are a few websites to get you started:
- People for Research: If you’re an online grocery shopper, you can get paid £50 for 60 minutes of your time.
- Research Opinions: If you’re over 18 and have a bank account, you can get £70 for 2 hours of your time.
- Askable: If you transact in cryptocurrencies or shares, you can get £150 for 60 minutes of your time.
Meanwhile, surveys aren’t usually a big money-maker, but they can add up if you do a few here and there.
I recommend avoiding signing up with too many survey companies, as it can be overwhelming.
Vypr and Qmee are two of my favorite survey apps because they show you the reward for each survey and how long it will take to complete.
This helps avoid surveys that take too long for too little reward.
Both market research and surveys are tax-free side hustles, so you can keep all the money you earn.
Another way to earn extra money tax-free is to switch bank accounts.
Many banks offer switching bonuses, which can be worth hundreds of pounds.
To find the best switching bonus, you can use a comparison website like MoneySuperMarket.
Handyman work is in high demand, and many people are willing to pay for help with tasks like fixing leaky faucets, hanging pictures, and assembling furniture.
You can start by offering your services to friends, family, and neighbors.
Once you have some experience and a good reputation, you can start advertising your services online or in local publications.
To make your side hustle more successful, you can invest in some basic tools and equipment.
You may also want to consider getting liability insurance to protect yourself in case something goes wrong.
Handyman work can be a great way to earn extra money and help people in your community.
And, if you’re really good at it, you could even turn it into a full-time job!
Here are some tips for starting a successful handyman side hustle:
- Market your services: Let people know that you’re available for handyman work by advertising online, in local publications, and through word-of-mouth.
- Build a good reputation: Be reliable, honest, and do quality work. This will help you attract new customers and build a loyal following.
- Be competitive: Charge fair prices for your services. You don’t want to overcharge your customers, but you also want to make a profit.
- Get liability insurance: This will protect you in case something goes wrong while you’re working on a job.
How to make your handyman side hustle tax-free:
- Open a separate bank account for your handyman business: This will help you keep track of your business income and expenses.
- Keep detailed records of your business transactions: This includes invoices, receipts, and mileage logs.
- File a self-assessment tax return: This is a form that you can use to report your self-employed income to HMRC.
With these, you can start a successful handyman side hustle and make some extra money tax-free.
Testing Websites and Search Engines
If you’re looking for a way to make some extra cash on maternity leave or just want a flexible side gig, testing websites and search engines could be the perfect option for you.
It’s easy to get started: just sign up with a few companies that offer user testing jobs, such as TestingTime, User Conversion, PingPong, Intellizoom, or Web Usability.
Once you’re approved, you’ll be invited to test websites and search engines for usability and bug reporting.
You’ll be paid to give your honest feedback on things like the look and feel of the site, how easy it is to navigate, and whether it actually works as intended.
How much you can earn varies, but it’s typically around £10-£20 per test.
Best of all, you can do this work from home, so you can fit it around your other commitments.
So, if you’re looking for a way to make some extra money, testing websites and search engines is a great option.
It’s easy, flexible, and rewarding.
And who knows, you might even help to make the internet a better place!
Become a Virtual Assistant
As a virtual assistant, you can offer various services online, from social media support and email management to event planning and Zoom setup.
To get started, you can earn money by contacting local businesses on Facebook groups or job boards like Indeed.
Once you land a few clients, you can start building your own business and charging up to £25 per hour, which can be a huge additional income.
Here are a few other things to keep in mind:
- You can set your own hours and work from anywhere.
- You don’t need any special qualifications to get started.
- There are endless opportunities for growth and specialization.
So, if you’re looking for a flexible and rewarding way to make money, becoming a virtual assistant is a great option.
Find Odd Jobs on Craigslist
Want to make some extra cash on a smaller scale?
Odd jobs are a great way to do just that.
Just browse Craigslist and you’ll find many tasks you can do in your free time, like walking dogs, pet sitting, assembling furniture, or helping with moving.
You can also sell your homemade crafts on a smaller scale.
There are many online marketplaces where you can list your products, such as Etsy or Folksy.
Here are a few tips to get you started:
- Be specific about the types of odd jobs you’re interested in doing. This will help you attract the right clients.
- Set your own rates and be flexible.
- You can charge more for specialized tasks or jobs requiring a lot of travel.
- Take good photos of your handmade crafts and write clear and concise descriptions.
- Promote your products on social media and other online marketplaces.
Freelance Writing or Copywriting
Ever dreamed of making a living from writing?
I did, too, even while working a corporate job.
But after years of searching for opportunities and finally succeeding, I can tell you it’s possible.
In fact, I now earn a full-time income from freelance writing and copywriting, which I also combine with running this blog.
Whether you want to write blog posts for clients, articles for newspapers and magazines, or get into the lucrative world of copywriting, the possibilities are endless.
So, if you’re a talented writer passionate about words, I encourage you to explore your options.
You could be earning a monthly income from your writing in no time.
Here are a few tips to get you started:
Identify your niche.
What topics are you passionate about and knowledgeable in?
Once you know your niche, you can start pitching your writing services to potential clients.
Build a strong portfolio.
This is your chance to showcase your writing skills and experience.
Include a variety of samples in your portfolio, such as blog posts, articles, and copywriting samples.
Network with other writers and professionals.
Attend industry events, join online forums, and reach out to other writers for advice and support.
It takes time and effort to build a successful freelance writing career.
Don’t give up if you don’t land your dream client right away.
If you’re willing to put in the work, you can definitely make a living from writing.
Bonus tip: If you’re looking for professional advice on how to start a freelance writing career, I recommend checking out the following resources:
- Freelance Writers Den
- The Abundant Writer
- The Write Life
These websites offer a wealth of information and resources for freelance writers of all levels.
Start a blog
I know what you’re thinking: blogging is all about selfies and oversharing.
But that’s not the only way to make money from it.
I make money from my blogs by helping people with specific topics.
This blog helps people with personal finance, and my other personal blog helps families decide to design their household.
The key to success is to focus on your readers, not yourself.
Pick a niche you’re passionate about and knowledgeable in.
Then, create helpful content that people will search for on Google.
You can monetize your blog with advertising or affiliate links.
Here are a few ideas for blogs that could make you paid:
- Knitting tips
- Homeschooling resources
- Children’s book reviews
- Vacuum cleaner reviews (yes, really!)
- Camping gear guides
- Caravan reviews
- Cycling tips
The list is endless.
Just pick a niche that you’re interested in and have some knowledge of, and who knows, it might lead you to endless extra income!
As I mentioned earlier, you can make money by promoting products on your website or blog.
One way to do it is through affiliate marketing, and it’s a great way to make a little extra cash on the side.
All you have to do is sign up for an affiliate program and promote products you love.
When someone clicks on your affiliate link and makes a purchase, you’ll earn a commission.
It’s that simple!
If you’re smart about it, you can easily earn an extra £500 per month or more from affiliate marketing.
Just focus on promoting products that your audience is interested in, and create high-quality content that will convince them to click your link.
Learning affiliate marketing takes some time and effort, but it’s definitely worth it!
Rent a Home or Your House
Ever thought about renting out your spare bedroom or entire house while you’re away on vacation?
Thanks to sites like Airbnb and HomeAway, it’s easier than ever to do just that.
And you can even rent out your extra room while you’re still there!
It’s a great way to offset the cost of your vacation and even make some extra cash.
Here’s how it works:
- List your rental property on Airbnb or HomeAway.
- Set your own rates and availability.
- When someone books your property, you’ll receive payment directly from Airbnb or HomeAway.
It’s that simple!
Mystery shopping is another great option to make up to £500 per month or more by shopping at businesses and reporting back on your experience.
It’s easy to get started: just sign up with a reputable mystery shopping company like Market Force or Mystery Dining.
Once you sign up, you’ll receive mystery shopping tasks like visiting a clothing store and reporting on the customer service, or testing out a new restaurant and rating the food and atmosphere.
You’ll be paid for your time and reimbursed for any expenses you incur, and you may even be eligible for bonuses.
Plus, mystery shopping can be a lot of fun! You get to visit new places and try new things.
And here’s a bonus tip: you can even find mystery shopping assignments on Facebook Marketplace!
Just search for “mystery shopper” or “mystery shopping jobs.”
Final Thoughts on How to Make an Extra 500 a Month
One thing to keep in mind is that not only does this help pad your bank account, but it can also alleviate some financial burdens.
Think about it – those pesky energy bills, especially in the winter months, can eat into your budget.
An extra £500 is a great starting point to offset those costs.
And don’t forget, in some other countries, the cost of living can be significantly higher.
That’s where your extra £500 can truly shine, providing substantial relief.
For those of you who are self-employed or have irregular pay, this extra income can be a game-changer.
Also, it offers stability in an otherwise unpredictable financial landscape.
And the best part? You can achieve all of this in your spare time.
You can now transform those moments that might have been spent idly into money-making opportunities.
Remember, every pound counts. So, dive into these strategies and witness how that extra £500 a month can make a world of difference in your financial journey.