Summer can be a busy time, making it challenging to save. However, it also presents wonderful opportunities to make extra cash. Whether through simple side hustles or resourceful ways to utilize what you already have, you can comfortably top up your bank balance. Here are ten easy ways to make extra cash this summer, helping you boost your income without sacrificing your leisure time.
Maximize Income from Your Spare Room
Consider renting out an unused room for additional income. Options include hosting a lodger or offering storage space to local businesses. You could earn thousands annually. For instance, renting out 100 square feet for storage could have netted over £2,700 last year. If you prefer, letting a spare bedroom could bring in up to £7,500 tax-free each year.
Capitalize on Your Driveway Space
Your driveway can also be a viable income source. Renting it out could earn you around £320 yearly, as reported by JustPark, or potentially up to £4,000 based on location. The first £1,000 is tax-free, thanks to the “Trading Allowance.”
Turn Old Clothes into Cash
Sell old clothes online using platforms like Vinted and Depop, which have eliminated seller fees in many cases. Your earnings depend on item quantity, demand, and quality. The Trading Allowance means the first £1,000 is tax-free. For more details, visit this link.
Explore Dog Walking and Pet Sitting
With more people returning to the office, demand for pet care services has risen. Dog walking rates average £15 per hour, while pet sitting can fetch £6 to £50 per day. Consistent clients can provide steady income over the summer months.
Switch Banks for Bonuses
Bank account switching can offer immediate financial bonuses. For instance, Santander’s Edge account awards £180 and a £25 Amazon voucher for switching. Always check the eligibility criteria for such offers.
Utilize Better Savings Rates
Improve your savings’ value by switching to accounts with higher interest rates. While the average might be low, some accounts offer up to 4.89% interest, significantly boosting your savings’ returns.
Share Your Expertise by Tutoring Online
Online tutoring can be a rewarding way to earn extra cash. Depending on your expertise and location, rates can range from £35 to £100 per hour. If you tutor at £40 per hour for three hours weekly, you could make £6,240 annually.
Participate in Online Surveys
While individual survey payments are small, they add up. Join platforms that pay in cash or vouchers and earn income in your spare time.
Earn with Cashback on Shopping
Several platforms offer cashback for shopping through their sites. Purchases, whether everyday items or significant investments like insurance, could earn back hundreds annually.
Freelance Writing Opportunities
Freelance writing offers flexibility and potentially lucrative returns. With rates ranging from £50 to £75 per hour, writing an hour weekly could earn you £2,600 yearly. Consider starting a blog on platforms like Substack for additional income.
Explore other income-boosting strategies to enhance your financial landscape this season. Click Here For More Email Marketing tips and strategies.
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