5 Online Side Hustles to Boost your Income in 2021
Looking for an extra income outside of work? In this article, Peter Watton from OddsMonkey shares a few ways everyone can generate some extra cash.
Covid-19 has been tough, and a lot of us are out of pocket, or even unemployed, because of the pandemic. But, thanks to lockdown, we have also got more time on our hands than ever before, lending us more opportunities to take up a side hustle and top up our income.
Our research into side hustles found that 1 in 4 Brits have a second job they do from home, and these can generate an average of £230 a month. The money we make from them can then be put towards bills and other expenses, or you could just spend it on treats for yourself and your loved ones.
Students may also be wondering how to earn money online while studying and may want to top up their allowances with some of the recommended online side gigs.
If you’re looking for a side hustle of your own, here I’ll take you through five you can do online with just a laptop or computer.
Blogging was by far the most profitable way to make money online according to our research, with bloggers making an average of £333 a month. It isn’t for everyone, as it can take a lot of effort to get your blog off the ground and even more commitment to keep it going. But, once the sponsored posts and other advertising opportunities start rolling in, you can make a lot of money just from creating content about a topic you’re passionate about.
Matched betting is a better way to generate a small but steady stream of money outside of your day job without as much commitment as blogging. It takes advantage of free bets offered by bookies to place a lay bet and a back bet on a match or race so, unlike gambling, you’re guaranteed a profit every time (excluding human error). Do it enough or use matched betting software to help, and this can accumulate into a nice pot of cash to spend on whatever you like.
Buying and selling online
There are all kinds of things you can sell online to make some extra cash, from your old unwanted belongings to homemade arts and crafts. According to our research, the most profitable product you can sell is baked goods (£266 a month), but if you’re not handy in the kitchen you can still make £143 on average selling other items. The trick is to pay attention to trends and timing your listings to coincide with what people are looking for, like holiday clothes in summer.
If you like the idea of running an online shop but don’t have the space to store stock, dropshipping might be for you. In this arrangement, you act as the middleman between the customer and the wholesale supplier, taking the order and arranging its delivery on their behalf. This side hustle requires time management, customer service, and organization skills but, as it takes place entirely online, you can do it from the comfort of your own home.
Are you looking for something you can do on your sofa while you watch TV? Another option you can do online involves filling out surveys for money. Paid surveying won’t make you a millionaire, but it is a nice and easy way to generate some additional income. You usually get paid into a digital wallet or you might have the option to get paid in gift card credit for stores like Amazon or Starbucks, and you’ll be able to pick and choose which surveys you’d like to complete.
The listed tips in this guide could help you find your ideal side hustle, so bear them in mind and you’re sure to have more spare cash to spend in the future.