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How To Make Extra Cash Part 1

By: admin

How To Make Extra Cash Part 1

Nothing like a bit of extra cash coming in on the side. That little (or a lot) of extra cash you could use to save for something big or small. To pay off your short-term loans, credit cards and any other expenses you may have.

Many people hold an idea in their minds that making money is difficult and time consuming and only the lucky few will ever succeed.

Nothing could be further from the truth. Making some extra cash on the side is a lot easier than you might think.

With a little bit of research and effort you could be a few hundred if not a few thousand pounds better off each month and who knows it might even become your full-time gig!

So, let’s go

1) Go get a Second Job

This is of course the first of the two most obvious ways to get more cash each month. This is going to guarantee you additional income each month.

There are pros and cons to taking a second job, the pros are that you are going to earning extra money simple as that, the cons are that you are now spending less time with your family but sacrifices sometimes need to be made if your plan is to pay off debts this might be the quickest way to start that process off

When looking for a part-time or even weekend type job you want to stick to your local area if you can. If possible, someplace close to where you currently work so you can get there quickly.

Lots of people who I know that work in the I.T industry have side lines out of work where they put their skills to use to bring in some extra cash.

Ease of getting started: 10/10

Time to Lambo: 1/10

Extra Moolah: 1/10

Effort: 5/10

2) Ask Your Employer For More Dough

This one is the second of the two most obvious ways to increase your monthly income. Ask your employer if it is possible to put in more hours at work to earn additional money.

Don’t just rock into their office asking for a pay rise unless you can justify it. Just because you have not had a pay rise in a few years does not automatically entitle you to one. If you cannot justify the pay rise, then you do not warrant one.

You must demonstrate to your employer the value that YOU bring to the business.

Also don’t be too upset if your request is denied, that’s just how it is sometimes but ask and be prepared to put forward your case as to why you deserve a pay rise.

Do not give your employer a sob story about how you are finding difficult to make ends meet at home. In all honesty they won’t care, and it won’t justify a pay rise in anyone’s mind.

If you want more money, then you must be prepared to work additional hours for it.

Ease of getting started: 10/10

Time to Lambo: 1/10

Extra Moolah: 1/10

Effort: 1/10

3) Start Your Own Ebay Shop

One of my favourite ways to make money. Instant business provided you set your shop up correctly with nice templates, you could be up and running in hours. The only obstacle is what to sell.

Well, I have sold all sorts of things on my Ebay shops, from phone cases, beauty products, children’s’ books, DVD, computers, I have even sold condoms on Ebay. So, where do I get the gear to resell? Easy, I either import it from China from a website called Alibaba (Greatest website in the world) that allows you to buy anything you could ever think of, from a nut and bolt all the way to a complete container ship, it’s all for sale.

Once you decide what you will import, you will need to work out your margins, postage, returns policy. Just keep in mind that there is a lot of competition on Ebay and the margins are very small, therefore you are going for volume sales.

Watch out for import taxes when bring stuff in from outside of the European Union.

Ease of getting started: 2/10

Time to Lambo: 3/10

Extra Moolah: 6/10 (If you get the right product at the right price)

Effort: 5/10

4) Rag and Bone

If you want to get onto Ebay but don’t have the cash to start importing from Alibaba, then consider selling whatever you have around your house. Ask your friends and family, co-workers if they would give you stuff for you to sell. This is an idea I have wanted to do myself for ages, but I don’t have the time.

We all have stuff just laying around the house, loft, garage that we keep telling ourselves that we will get around to selling on Ebay, but never do. This is generally out of laziness, or just can’t be bothered with the packaging, taking it to the post office and the like.

So, you provide a service where you will do all the work for a cut of the sale fee. It is up to you to decide if it will be an auction or buy it now. Experience will determine the best which method is best and which items sell.

Once you have cleaned out all the homes of your friends and family you can now start to approach people in the local area, there will be hundreds if not thousands of people who will take you up on it.

One drawback is storage. If you don’t have the room to store the goods you might have keep it small until you grow big enough to hire a warehouse.

Ease of getting started: 2/10

Time to Lambo: 3/10

Extra Moolah: 4 /10

Effort: 4/10

5) Dropshipping

One of my all-time favourite ways to make easy cash. It does require effort on your part, but the rewards are just insanely eye watering if you get it right.

I started my dropshipping business over a year ago which I then sold to my friend since I wanted to focus on other projects, but wow, what a ride.

Dropshipping is very easy to understand, unlike having to hold your own stock that you list on your Ebay page you instead list products which you do not stock but are stocked by some other company like Amazon. You could list anything you like from any online store and dropship.

The way that dropshipping works is like this:

  1. Find best selling products on Amazon (As an example)
  2. List the product on Ebay with a markup of say 20 to 40%
  3. Product sells on Ebay
  4. You go to Amazon, order the product and have it shipped to the customer who bought it on Ebay, you keep the mark-up as profit

Pros: Very easy to set up and using the right tools like autods or hustlegotreal you can list products very quickly

Cons: Can be a burden to maintain top notch customer service for returns, not delivered or other issues. Here you would hire a virtual assistant who will do all of the admin work for you. (Go to upwork) to find a VA

  •  that you list a product on say Ebay, when the product sells, you  

There are tons of tutorials on how dropshipping works and it can start bringing in an income on your first day. (It did for me)

Ease of getting started: 3/10

Time to Lambo: 5/10

Extra Moolah: 6/10

Effort: 6/10

6) Start a Blog

If you have ever wondered how people, make money on-line by writing blogs the answer is simple. You may have noticed all of the ads on the page. Having ads on the page means that the blog owner makes money each time someone clicks on the ads (Don’t click on your own ads, you will be banned from the ad network)

Another way blog owner make money is through affiliate sales. This is where they will write an article about a product or products and provide a link to the product home page. Any time someone clicks on the product link and purchases the product the blog owner will get a share of the revenue.

This can be crazy lucrative with some blogsite earning tens of thousands a month, on the downside it will require you to put in the hours to write the articles and getting your blog site to rank in Google for all the free organic traffic. Finding the affiliate offers is very easy by looking on google for “Affiliate Networks” like max bounty or approaching companies like Amazon directly.

Building your own blog site is easy enough with WordPress BTW

Ease of getting started: 2/10

Time to Lambo: 2/10

Extra Moolah: 1/10

Effort: 5/10

7) Write Articles for Websites

There are loads of blog sites out there who need content and the site owners just do not have the time or knowledge to write about every single subject under the sun.

They are looking for people like you who have knowledge in your field of expertise. Register onto websites like “People Per Hour” and start advertising your article writing services. You can earn up to £60 per article depending on length and subject matter although the normal rate is around £20 per article.

Ease of getting started: 4/10

Time to Lambo: 1/10

Extra Moolah: 3/10

Effort: 3/10

8) Build Websites For Local Business

If you currently work in this industry or have experience in building websites, then why not offer your services to local businesses.

There are loads of local business in my area who either do not have websites or who have a website which is stuck in the 1990’s.

Help them improve on their current website. Charging £500 for a website which can be created from templates and free images which you can get from sites like pexel will also help to cut your costs.

Ease of getting started: 3/10

Time to Lambo: 3/10

Extra Moolah: 5/10

Effort: 5/10

9) Start a YouTube Channel

If you have a hobby or an interest why not make videos about this hobby of yours.

I am an avid YouTube watcher and have seen people grow channels into the millions from doing things you would take for granted such as repairing cars or unboxing toys. Yeap, who would have thunk it? People are driving around in lambos all because 100million people watched on video of taking a toy out of a box. (Look up goonzquad on YouTube for an example how two young lads went from broke to a garage full of exotic cars in less than 2 years)

How do they make money? Simple, you can set ads to run every time the video starts and during the video as well.

Your videos must be engaging, informative and entertaining. I knew a guy who posted a video of himself dressed as Santa on to YouTube. He decided to run ads on the video and now every six months YouTube send him a cheque for a couple of hundred pounds.

Ease of getting started: 1/10

Time to Lambo: 1/10

Extra Moolah: 1/10 (It will take time to get the views)

Effort: 2/10

10) Start an on-line Shop

The issue with Ebay that I have found is that they take a chunk of cash out of your margins, around 9 to 10% depending on what it is that you are selling.

An alternative is to setup your own on-line shop. I have done this in the past using a platform called “Shopify”. There is a small monthly subscription to maintain your shopify shop but no more than having an Ebay shop would cost.

Shopify comes with all the tools you could ever need to build beautiful, fully functional shops in a few hours that look like they were designed by professionals.

To stock the shop, you just take the idea of Dropshipping where you list items from other websites and then advertise your products on Facebook.

Facebook advertising is simply one of the best ways to reach your target demographic. They collect so much data on their members that you can target down to the operating system of a phone if you wanted to.

There are loads of shopify tutorials on YouTube showing you how to get started.

Ease of getting started: 5/10

Time to Lambo: 6/10

Extra Moolah: 5/10

Effort: 6/10

11) Washing Cars

This was one of the first businesses which I ever set up when I left school. It was my pride and joy. I spent every last penny I had to buy a beaten-up old Austin Maestro van for £800, threw in all the buckets, cloths and went mobile car cleaning. It made a mint, but it was extremely hard work, but I was 18 and had my own business.

This is a business for those that have some initial capital to get started to buy a van and all the material otherwise you could just get a bucket, sponge, leaflet thelocal area to get business.

Ease of getting started: 6/10

Time to Lambo: 1/10

Extra Moolah: 3/10

Effort: 10/10

12) Cleaning Offices

If you have the van from car cleaning, you could also use it to clean offices in the evening after your day job. It can be quite easy to get the work as cleaners are very transient, but if you can establish a reliable service you can make a very good income

Ease of getting started: 2/10

Time to Lambo: 2/10

Extra Moolah: 3/10

Effort: 6/10

13) Looking after other people animals

You could take in other people pets while they are on holiday or at work. There are many people out there looking for someone to walk their dog while they are at work.

Also, lots of people do not like to leave their mutts or kitties in the kennels or catteries and prefer that someone looks after them on a one to one basis. This is a very easy way to make a few quid

In addition, many people do not like to board their pets when they are away and prefer to have someone stay at home with the pet.

Not only do you get paid to watch the pet, you can stay at the owner’s house.

Ease of getting started: 10/10

Time to Lambo: 1/10

Extra Moolah: 1/10

Effort: 1/10

14) Gardening

Argh, I did not even want to list gardening, but I feel that I must. If you are on the other hand someone who enjoys pulling up weeds, pruning roses, cutting back hedges, mowing lawns then this has you name all over it. This of course needs to be done during day light hours and not much work around in winter months so I have been informed so you could turn your hand to clearing paths of snow etc during winter months

Ease of getting started: 2/10

Time to Lambo: 1/10

Extra Moolah: 3/10

Effort: 100000/10

15) Create On-line Classes

If you are an expert in your field, why not create a course which you can sell on-line. Visit a site called Udemy where they allow people like you to post their courses and sold. Udemy claims to have made multiple millionaires already from their platform, you could be next. Nice passive income.

Your courses must be top notch. It can will take practice, but once the courses are done, they are done. When people buy your courses, you get a nice slice of the sale price. I have a friend who makes around £2k per month from the I.T courses he has posted on Udemy

Ease of getting started: 2/10

Time to Lambo: 3/10

Extra Moolah: 2/10

Effort: 10/10

16) AirBnB

If you don’t mind hosting visitors, you could let out your spare room to guests. This has proved to be a very nice way for people to make some extra cash very easily. If you live in a major city your spare room could be a nice little pot of gold.

Ease of getting started: 5/10

Time to Lambo: 1/10

Extra Moolah: 2/10

Effort: 4/10

17) Rent Out Parking Spaces

If you have space on your drive and live close to a railway station you might consider renting out the space on your driveway.

It won’t make you rich but £5 per day, 5 days per week, 48 weeks per week works out as £1,200 which is not to be sniffed at and can go towards other projects like starting an on-line business and such like.

Ease of getting started: 1/10

Time to Lambo: 1/10

Extra Moolah: 1/10

Effort: 1/10

In conclusion:

This is not of course an exhaustive list but if you have the time and motivation to get on with it then these are quite simple ways to start bringing in some extra cash it not completely over take what you are earning from your 9 to 5

Part two coming soon

Debt management agencies are regulated by The Financial Conduct Authority

Many people in the U.K struggle with debts and many do not know how to start to repay them speaking to a debt advisor is one of the best things you will do along with taking action yourself by speaking directly with your creditors.

https://www.nationaldebtline.org/ and https://www.moneyadviceservice.org.uk

You should always seek professional advice when handling debt problems. Cashute are not licensed debt advisers and any information contained in this article should not be taken as legal advice. It is your Responsibility to seek out correct legal advice

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Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk