There are many reasons why it’s a great idea to make some extra cash. If you plan on retiring early then you will want to minimise your expenses and maximise your income. Making some extra cash from various side-hustles will give you more money to play with and you may even be able to retire at an earlier age. You will also be able to pay off debt much faster. Check out these 4 ways to make money online to see which one you may like to learn more about.
Matched Betting
Matched Betting is when Bookmakers offer you some kind of incentive to bet with them. This could take the form of a free bet or some free spins at the casino. For example, you may get a £10 free bet for placing a £10 bet. You can then go ahead and lay the bets on an exchange, such as Betfair to make a profit from the free bet. Matched Betting is a side-hustle that anyone can get involved in (Country and legal laws dependant). One of the best things about Matched Betting is that is tax-free income. Because Matched Betting is considered gambling (don’t worry, it isn’t gambling) then you will not be taxed on any of your profits. This is a great way to add some extra income to your pocket and can be done around your other commitments. To get started you will want to sign up for a service that explains everything in detail and provides ongoing support and offers, such as Profit Accumulator.
Freelance
If you have a skill or are willing to learn one, then you can sell your skills for money. You may be good at writing or have an eye for graphic design. Whatever it is that you can do there will be someone out there willing to pay you for it. Check out People Per Hour and Fiverr to get an idea of what services people are buying and selling and make a start. You could even set up your own website and market yourself on social media so people know that you are available.
Sell Some Stuff
You could start by having a good mooch around your house and listing anything you don’t want anymore on eBay. Don’t discount anything at this stage as there all sorts of things on eBay that you may not have even thought that people would buy. Empty toilet roll tubes come to mind! You could leave it here and just routinely go through your house and sell your unwanted items or you could use this money as a seed pot to go and invest in more things to sell. You could rummage through your local charity shops, go to car boots or auction houses and then sell on what you purchase for a profit. Have a good look on eBay to start with to see what is selling. Set yourself a limit when you go shopping for things to sell so you don’t go overboard. This could be a good side-hustle for you if you enjoy shopping and grabbing a bargain as you are getting paid to do it.
Start a Business
If you are looking to start a business when you retire then now might be a good time to get a head start. This may even grow into something that can replace your full-time job much quicker. There are many businesses that you could start. Think about what passions you have and what skills you have. If you want to do something you’re not yet qualified in have a look at what skills you need. The good thing about starting a business whilst you still have another income coming in is that you can really concentrate on making good decisions from the start and not try and do everything at once in a frantic effort to make money fast.
