Ways to make a bit of extra money?
Discussion
Anyone have any advice or experience of making a bit of extra cash each month? Have thought about going down the buy something in bulk and selling on ebay route but I don't know what's best to sell and plus the world and his wife seems to already do it.
Not looking to make huge amounts just a bit of extra pocket money each week/month.
Not looking to make huge amounts just a bit of extra pocket money each week/month.
I've thought the same. Recently had a bit of a clear out in the house and earned a few hundred quid on a few bits and pieces which were just collecting dust but it would be nice to have a couple of hundred extra a month. I think it's about keeping it interesting, you don't want to be looking to deliver thousands of leaflets for pennies!
Orchid1 said:
True. I'd happily buy anything in bulk from China for example as long as I knew it was going to sell relatively quickly and it didn't take up too much room in the house whilst waiting for a buyer.
If it was guaranteed to sell quickly and didn't take up much space, everyone would be doing it.The ship has long sailed on this "easy, free money" of buying crap in bulk and eBaying it. I'm not saying you can't make money doing this but its not as easy as a lot of people think it should be.
eBay 10% fees (+ paypal 3%) kills off a lot of the joy and potential these days. I've only made it work with limited edition (time and location limited) items, that can sell worldwide. T-shirts used to do well for me. But the obvious flaw is once the limited time is over you need to find something new again.
I don't think people are going to tell you a secret here though, you'll need to put in the work yourself. There are job websites like e-lancer where you can sell your skills, or iTalki if you can teach a language over Skype for example. Or go old school and knock on peoples doors asking if they want their windows/car cleaned. Depends how much you want that extra money really.
I don't think people are going to tell you a secret here though, you'll need to put in the work yourself. There are job websites like e-lancer where you can sell your skills, or iTalki if you can teach a language over Skype for example. Or go old school and knock on peoples doors asking if they want their windows/car cleaned. Depends how much you want that extra money really.
stuff I have done:
provide computer support locally
web design
make some apps for android/iphone/wp
(I learnt how to do these specifically for this, so no moaning you don't know how to!)
other people I know have:
buy individual items, and sell as a package on ebay, such as starter archery set, or starter kayak set.
buy lego from supermarkets, then sell on ebay. sometimes this is a waiting game.
offer a dog walking service
make video blogs/ record your computer games with stupid commentary
and put on youtube.
take up running, then 6th months later start training people to run
provide computer support locally
web design
make some apps for android/iphone/wp
(I learnt how to do these specifically for this, so no moaning you don't know how to!)
other people I know have:
buy individual items, and sell as a package on ebay, such as starter archery set, or starter kayak set.
buy lego from supermarkets, then sell on ebay. sometimes this is a waiting game.
offer a dog walking service
make video blogs/ record your computer games with stupid commentary
and put on youtube.take up running, then 6th months later start training people to run
Xaero said:
T-shirts used to do well for me. But the obvious flaw is once the limited time is over you need to find something new again.
Which is presumably why there are so many scumbags selling fake stuff on ebay. T-shirts with a nicked logo, fake items said to have been owned by some celebrity, fake autographed pics etc. Anything to try to get a bit of margin and fleece the suckers.I started matched betting a couple months back.
Started around the end of march, Just short of £2000 profit today.
everythings here if you want a look
http://forums.moneysavingexpert.com/forumdisplay.p...
Requires a bit of bank roll to start but once you get going and profit keeps reinvesting you can keep it going. Its a bit tricky to get your head around at start.
But its basic principle is betting on 1 thing happening at a bookmaker, Then betting on that thing not happening at a betting exchange so you are guaranteed to win regardless of the outcome. The profit comes in with the bookmakers sign up free bets etc.
Unfortunately it looks like match betting may be coming to a death in the near future. Unfortunately its became to big for its own boots and bookmakers are fighting back and closing accounts they suspect of dubious betting paterns. Ive lost 4 accounts over the last month.
In particular there is a certain website that has taken all the information you can get for free, made it idiot proof to the point where even Mumsnet are onto it and now sells a "subscription" for the free information, This has made match betting so obvious to bookmakers that they are gubbing everyone slighlty suspicious
So make hay while the sun shines, I dont think it will last forever.
Started around the end of march, Just short of £2000 profit today.
everythings here if you want a look
http://forums.moneysavingexpert.com/forumdisplay.p...
Requires a bit of bank roll to start but once you get going and profit keeps reinvesting you can keep it going. Its a bit tricky to get your head around at start.
But its basic principle is betting on 1 thing happening at a bookmaker, Then betting on that thing not happening at a betting exchange so you are guaranteed to win regardless of the outcome. The profit comes in with the bookmakers sign up free bets etc.
Unfortunately it looks like match betting may be coming to a death in the near future. Unfortunately its became to big for its own boots and bookmakers are fighting back and closing accounts they suspect of dubious betting paterns. Ive lost 4 accounts over the last month.
In particular there is a certain website that has taken all the information you can get for free, made it idiot proof to the point where even Mumsnet are onto it and now sells a "subscription" for the free information, This has made match betting so obvious to bookmakers that they are gubbing everyone slighlty suspicious
So make hay while the sun shines, I dont think it will last forever.
Edited by paulwoof on Thursday 27th August 00:24
paulwoof said:
I started matched betting a couple months back.
Started around the end of march, Just short of £2000 profit today.
everythings here if you want a look
http://forums.moneysavingexpert.com/forumdisplay.p...
Requires a bit of bank roll to start but once you get going and profit keeps reinvesting you can keep it going. Its a bit tricky to get your head around at start.
But its basic principle is betting on 1 thing happening at a bookmaker, Then betting on that thing not happening at a betting exchange so you are guaranteed to win regardless of the outcome. The profit comes in with the bookmakers sign up free bets etc.
Unfortunately it looks like match betting may be coming to a death in the near future. Unfortunately its became to big for its own boots and bookmakers are fighting back and closing accounts they suspect of dubious betting paterns. Ive lost 4 accounts over the last month.
In particular there is a certain website that has taken all the information you can get for free, made it idiot proof to the point where even Mumsnet are onto it and now sells a "subscription" for the free information, This has made match betting so obvious to bookmakers that they are gubbing everyone slighlty suspicious
So make hay while the sun shines, I dont think it will last forever.
I also did this for a few weeks and made an easy £300 quid or so with minimal effort but to be honest I got a bit bored of it. It's a very quick and easy way to make a bit of money but yes you do need a few hundred at least as a bank roll to do it properly. Started around the end of march, Just short of £2000 profit today.
everythings here if you want a look
http://forums.moneysavingexpert.com/forumdisplay.p...
Requires a bit of bank roll to start but once you get going and profit keeps reinvesting you can keep it going. Its a bit tricky to get your head around at start.
But its basic principle is betting on 1 thing happening at a bookmaker, Then betting on that thing not happening at a betting exchange so you are guaranteed to win regardless of the outcome. The profit comes in with the bookmakers sign up free bets etc.
Unfortunately it looks like match betting may be coming to a death in the near future. Unfortunately its became to big for its own boots and bookmakers are fighting back and closing accounts they suspect of dubious betting paterns. Ive lost 4 accounts over the last month.
In particular there is a certain website that has taken all the information you can get for free, made it idiot proof to the point where even Mumsnet are onto it and now sells a "subscription" for the free information, This has made match betting so obvious to bookmakers that they are gubbing everyone slighlty suspicious
So make hay while the sun shines, I dont think it will last forever.
Edited by paulwoof on Thursday 27th August 00:24
Orchid1 said:
Anyone have any advice or experience of making a bit of extra cash each month? Have thought about going down the buy something in bulk and selling on ebay route but I don't know what's best to sell and plus the world and his wife seems to already do it.
Not looking to make huge amounts just a bit of extra pocket money each week/month.
Gardening? Or something else where you actually do something. Much better than reselling tat for pennies IMHO.Not looking to make huge amounts just a bit of extra pocket money each week/month.
I'm afraid the only true answer to this ever popular question is to get a second job. No faffing about with pointless mini-businesses, no being left with thousands of bits of crap littering your home and no capital risk. Plus, the extra 6/8 hours a day spent working is less time spending.
KFC said:
I'm not saying you can't make money doing this but its not as easy as a lot of people think it should be.
^This^You can make money doing this, but it's not easy and it takes time, patience and hard work. Me and a freind started doing this about 18 months ago, we started with £750 between the two of us and put in a lot of time and effort doing research beforehand, for the first 8-9 months all money made was re-invested and in those first months, we had turned £750 into £3000, then things started to roll when we had stronger buying power, this month we are on track to have turned over £7000 with net profit around the £3000 mark, we are now at the point where every month we see a good 5-10% growth and it is seriously rewarding.
As good as the above sound though, between this and my 9-5 job, home life is deplenished, I get up at 5:30am, do 2 hours work(accounting, researching new products, etc), then go to work, come home for an hour to eat and have a coffee, then back out to work for the business(parcelling, stock checking, planning ebay listings, going through competitors businesses, etc) then get back home around midnight(and don't think you'll get straight to sleep, you lie there for an hour thinking of new ideas or how to fix a problem, reduce costs, etc), my body is shattered, Monday-Friday I am a ghost in a shell. When you have bad days, you have BAD days, it feels like the business is going under and everything is crashing down, but you work more, you sort it out and you learn from that mistake.
If all goes to plan though, next year the missus is going to quit her job and work for me for about 4-5 hours a day on the mundane things so I don't have to put in the hours that I do, then it shall start to get better and feel like it was all worth it.
So yes, it is possible, but be prepared to make sacrifices, I always repeat to myself 'You have to be prepared to live like others won't, to live like others can't'
My wife started a blog a couple of months ago - nothing specific, just the usual ramblings women would have at a coffe shop. And already she's had £400 worth of makeup, a 3 day all expenses trip for the 3 of us to Paris, an inflatable hot tub, a very nice hip flask, 1 years multi-trip annual travel insurance, a couple of monthly meal box subscriptions and a load more stuff due in the post. PR companies are constantly offering her items to review on her blog - have to say I was quite sceptical of it all to start with, but for what she's got in the short space of time I'm quite impressed. I know it's not cash, but free stuff is always good.
You can make money online yes, almost every method out there works, be it direct sales, affiliate sales, affiliate leads, etc... the difference is, to make money at these you actually need to know what you're doing and do the right things. Simply buying some stuff from China and then putting on eBay won't work, almost everything on Alibaba is already on eBay UK at silly cheap prices. How would you compete with that?
Posts like this always come across as a bit "tell me how to make money online, easily, with no effort but it's okay I don't want that much from it each month, a £1000 will do".
If you just want some extra money each month then look to what your main job is and what your main skills are, can you do some light private work on the side, can you turn a hobby into a small time coaching/training type business, everything will require some start up time but I think the question is do you simply want to earn a bit extra each month or are you hoping something will turn into paying the bills....
Posts like this always come across as a bit "tell me how to make money online, easily, with no effort but it's okay I don't want that much from it each month, a £1000 will do".
Marc p said:
^This^
You can make money doing this, but it's not easy and it takes time, patience and hard work. Me and a freind started doing this about 18 months ago, we started with £750 between the two of us and put in a lot of time and effort doing research beforehand, for the first 8-9 months all money made was re-invested and in those first months, we had turned £750 into £3000, then things started to roll when we had stronger buying power, this month we are on track to have turned over £7000 with net profit around the £3000 mark, we are now at the point where every month we see a good 5-10% growth and it is seriously rewarding.
As good as the above sound though, between this and my 9-5 job, home life is deplenished, I get up at 5:30am, do 2 hours work(accounting, researching new products, etc), then go to work, come home for an hour to eat and have a coffee, then back out to work for the business(parcelling, stock checking, planning ebay listings, going through competitors businesses, etc) then get back home around midnight(and don't think you'll get straight to sleep, you lie there for an hour thinking of new ideas or how to fix a problem, reduce costs, etc), my body is shattered, Monday-Friday I am a ghost in a shell. When you have bad days, you have BAD days, it feels like the business is going under and everything is crashing down, but you work more, you sort it out and you learn from that mistake.
If all goes to plan though, next year the missus is going to quit her job and work for me for about 4-5 hours a day on the mundane things so I don't have to put in the hours that I do, then it shall start to get better and feel like it was all worth it.
So yes, it is possible, but be prepared to make sacrifices, I always repeat to myself 'You have to be prepared to live like others won't, to live like others can't'
I am shockingly similar to Marc P above, started an online retail business on the side, within two years it's grown into a proper business making money but I'm working non-stop, I still work full time so after work I'm back to work. I'm outsourcing fulfillment, and I have a full time sales guy now so things are a bit easier than they were. But it's still hard work and certainly not an "easy way to make some extra money each month" and I haven't been able to buy that Lamborghini just yet either.You can make money doing this, but it's not easy and it takes time, patience and hard work. Me and a freind started doing this about 18 months ago, we started with £750 between the two of us and put in a lot of time and effort doing research beforehand, for the first 8-9 months all money made was re-invested and in those first months, we had turned £750 into £3000, then things started to roll when we had stronger buying power, this month we are on track to have turned over £7000 with net profit around the £3000 mark, we are now at the point where every month we see a good 5-10% growth and it is seriously rewarding.
As good as the above sound though, between this and my 9-5 job, home life is deplenished, I get up at 5:30am, do 2 hours work(accounting, researching new products, etc), then go to work, come home for an hour to eat and have a coffee, then back out to work for the business(parcelling, stock checking, planning ebay listings, going through competitors businesses, etc) then get back home around midnight(and don't think you'll get straight to sleep, you lie there for an hour thinking of new ideas or how to fix a problem, reduce costs, etc), my body is shattered, Monday-Friday I am a ghost in a shell. When you have bad days, you have BAD days, it feels like the business is going under and everything is crashing down, but you work more, you sort it out and you learn from that mistake.
If all goes to plan though, next year the missus is going to quit her job and work for me for about 4-5 hours a day on the mundane things so I don't have to put in the hours that I do, then it shall start to get better and feel like it was all worth it.
So yes, it is possible, but be prepared to make sacrifices, I always repeat to myself 'You have to be prepared to live like others won't, to live like others can't'
If you just want some extra money each month then look to what your main job is and what your main skills are, can you do some light private work on the side, can you turn a hobby into a small time coaching/training type business, everything will require some start up time but I think the question is do you simply want to earn a bit extra each month or are you hoping something will turn into paying the bills....
MrSparks said:
I am shockingly similar to Marc P above, started an online retail business on the side, within two years it's grown into a proper business making money but I'm working non-stop, I still work full time so after work I'm back to work. I'm outsourcing fulfillment, and I have a full time sales guy now so things are a bit easier than they were. But it's still hard work and certainly not an "easy way to make some extra money each month" and I haven't been able to buy that Lamborghini just yet either.
Out of interest, do your 9-5 employers know about your side business? Mine don't and I have no intention of telling them anytime soon as I'm unsure how they would take it and for the next year or so at least, I do need to continue with them as although I could match my 9-5 pay with what I earn from my business, I do want the OH to leave her job first as she earns less than half what I do.Marc p said:
Out of interest, do your 9-5 employers know about your side business? Mine don't and I have no intention of telling them anytime soon as I'm unsure how they would take it and for the next year or so at least, I do need to continue with them as although I could match my 9-5 pay with what I earn from my business, I do want the OH to leave her job first as she earns less than half what I do.
Yes, but my day job isn't really a job, it's the family business. It's a VERY long and complex story. I very much doubt anyone else would put up with it and I wouldn't expect them to either, the only reason I get away with it is because I get abused and seriously underpaid in my day job and he knows he's in trouble without me! Let's just say if it wasn't for my wedding next year, a house renovation to complete and two holidays to pay for then my sideline might be full time.CRB14 said:
paulwoof said:
matched betting - make thousands
I also did this for a few weeks and made an easy £300 quid or so with minimal effort but to be honest I got a bit bored of it. It's a very quick and easy way to make a bit of money but yes you do need a few hundred at least as a bank roll to do it properly. Gassing Station | Finance | Top of Page | What's New | My Stuff