As living costs rise in the UK, more people are looking into ways to make money aside from their regular day jobs. Whether through something specialised like commodity trading or buying and selling vintage clothes via online platforms like Vinted, it’s clear that people are becoming resourceful.
If you could do with some extra money in your pocket this month, there are plenty of different revenues to consider. It’s all about finding what works best for you.
Why are people considering other income streams?
There are lots of reasons why people are investigating other income streams.
Firstly, the modern job market can be uncertain. As businesses struggle to grow — and even shrink — many traditional jobs are less secure than they once were. Add inflation to this mix and the cost-of-living crisis and it becomes easy to see why many people are looking for additional income streams to maintain their standard of living.
In the same breath, technological advancements have made it easier for people to explore various side gigs and entrepreneurial ventures. Now more than ever, there are plenty of opportunities to diversify your income.
What are the most popular side hustles?
The best side hustle for you is one that fits into your lifestyle. If you need inspiration, here are some of the most popular ones:
- Freelancing: Offering services such as graphic design, writing and web development through online platforms, creates opportunities to make good money in your free time.
- Delivery services: More and more people buy goods online. So, it’s no surprise that delivery driving is among the most popular side hustles.
- E-commerce: Selling handmade crafts online and even drop shipping is becoming a popular way to make money after 5 pm.
- Content creation: If you have an established social media presence, you might choose to make money through YouTube, TikTok and Instagram via advertising, sponsorships and affiliate marketing.
- Online tutoring: Providing tutoring services is becoming especially popular due to the popularity of remote learning.
- Pet services: Earning extra income by dog walking or looking after pets is excellent if you love animals.
Final thoughts …
Rising living costs in the UK are driving people to seek additional income streams. The key is to find the one that best fits your lifestyle and financial goals, providing a valuable supplement to your primary income. Whether you need extra money for monthly expenses or long-term savings, embracing a side hustle can be a practical and rewarding solution.
