5 ways to make some extra money

5 ways to make some extra money

Harriet Meyer / 19 August 2015 ( 04 April 2019 )

Whether you have a spare loft or parking space to rent out, there are plenty of ways to earn extra cash. Some could even provide a regular income top-up.

Dog walking is a fun way to raise extra money while getting some fresh air and exercise

Here are five easy ways to give your bank account a boost.

1. Become a dog walker

Are there lots of dog owners around your area? If you are self-employed or retired, you could offer your services as a dog walker.

Walk several at the same time to make things more time-efficient. However, make sure you stick to local park and council rules.

Do your research first as you might have to get a professional licence and public liability insurance.

And if you enjoy this, you can always offer your services as a dog sitter - some owners prefer leaving their dogs in a home environment (yours or theirs) rather than putting them kennels.

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2. Rent out your parking space and share your car

Spare parking spaces can be valuable, particularly in big cities.

If you have a spare driveway or garage, try advertising it on parkonmydrive, parklet, yourparkingspace or justpark. You can rent by the day or longer-term.

Proud car owners might be seeking a safe spot to leave their flash wheels, or hard-pressed commuters might be looking for somewhere close to the station, for example - either way, you'll end up making extra money from a space you wouldn't otherwise be using.

How to make extra money renting your drive

If you are planning to make a long journey and have space in your car, or you simply fancy a bit of company on your regular commute, a paying passenger could be the answer.

It’s a bit like modern day hitch-hiking, enabling you to advertise a particular journey to share costs. Find out more at BlaBlaCar or Liftshare.

Or if you're not using your car regularly - or it will be idle while you're away for a while - you could always hire it out. Look at Drivy, Hiyacar or Turo.

Car share to cut the cost of motoring

3. Become a tutor

If you can play a musical instrument, or speak another language, you could share your skills and earn money.

You could earn around £40 an hour by working as a private tutor to young children or students keen to learn another skill.

For more information on making extra money via private tuition, go to TheTutorWebsite.

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4. Use the rent-a-room allowance

Under this scheme, you can earn up to £7,500 a year tax-free.

If the yearly rent goes over this sum, you’ll need to complete a tax return and pay any tax owed.

However, it’s a worthwhile way to significantly boost your income for anyone with a room to let.

Find out more about the pros and cons of getting a lodger

5. Let your storage space

Do you have a spare room, loft space or basement? Or maybe shed, outhouse or garage?

There are always people looking to store large items such as furniture but who would rather not pay hefty professional storage space fees.

For a cut of the proceeds, you can advertise your space on Storemates and Stashbee. Rates depend on location, but as a guide you could earn around £100 a month for letting a loft.

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