How To Make An Extra £1000 This Month

How To Make An Extra £1000 This Month

*Asterisks set out in this article relate to advertising and they indicate that the author receives a small share of sales through the related link.*

Earning any amount of extra money per month may seem impossible, especially on top of your already hectic lifestyle. Do you really need a ton of extra cash rolling in though?

The answer may surprise you:

Whenever I ask people how much extra money would make a big difference in their life, I’m always surprised by the answer.

I guess I assumed that everyone would say some huge number to go with millionaire dreams of yachts and mansions, but instead the most common answers are things like £100 extra per month.

Another reason that I was so surprised by this kind of response, was that I know how easy it is to earn an extra £100 per month – plus much more. Why weren’t these people doing things to earn extra money if they believed such a small amount would have such a positive influence?

Now don’t get me wrong, when you’ve never ventured into the world of side hustles or just trying to earn a quick bit of extra cash, it may sound daunting, but it really doesn’t have to be that way.

That’s what I’m here for! I can show you the best ways to make some more money that can fit around your current lifestyle. If you are wondering “how can I make legit money from home?” don’t worry – you can.

If an amount like £100 would make a positive difference, imagine what an extra £1000 a month would do?! You could use the money for:

  • Paying off your debt
  • Saving for a deposit for a house
  • Buying a car
  • Going on holiday
  • Putting in your retirement fund
  • Loads of things that may not be very sensible but would be lots of fun!

As with many things, getting started can be the hardest part of all – where to start, what exactly to choose to do, the usual part of your brain piping up saying “do we really have time for this? Can we be bothered?” – but you won’t regret it once you get the money rolling in.

I know that when I personally started earning extra, I was kicking myself! I was so mad at myself for not starting sooner, because it would have helped me achieve my goals so much faster and I would be in a better position than I am currently (even though I’m not doing too badly!).

There are a few things that you can get started in order to earn this extra cash – up to £1000 per month, possibly more, or possibly less – depending on the amount of work that goes into it.

Matched Betting

Thought I’d start with this one because it’s the thing that seems to get the most questions whenever it gets mentioned in blog posts or social media, because even though it’s been around for a good few years now, it’s still not something that’s really known – which tends to make people feel a bit skeptical about it when they hear it, but it’s a great way of making extra money on the side.

I think we need to give it a different name, because it is NOT betting in the usual sense of the word – there is no risk to your money, so it’s not gambling. If it was gambling, you would have to pay tax on any money earned from it – but you don’t have to pay any tax on the money that you receive through matched betting*.

I hadn’t heard about matched betting until I was fully ensconced within the blogging community…although I can’t recall where I heard of it first, I do know that quite a few bloggers were talking about it, so it would have been from one (or all!) of them. I too was skeptical about how you earned money from this, and I could not get my head around it at all.

Personally, numbers are not my forte (I know I’m a money blogger, but I hate maths with a passion – luckily I don’t need to do any complex maths to work on my budget – but you’ll never see me using complicated excel formulas to do so) and I worried that I wouldn’t be able to do matched betting as it sounded like a lot of number work.

I have a blog post dedicated to explaining how matched betting works, and I’ve tried really hard to explain it as simply as possible, as it’s SO confusing when you first read about it, but honestly, once you’ve got your head round it, it’s the easiest thing ever.

In generalised terms:

  • Place a normal bet on a betting site e.g. William Hill. For example for England to win their football match. You use the free bet that you are offered as a sign up incentive e.g. £30 free bet when you join.
  • All normal so far! Now usually you would wait to see if England won or not and either win or lose your money.
    But instead we add another step!
  • Go onto a betting exchange site e.g. Smarkets or Betfair Exchange (my personal faves) and place a bet the OTHER way. So in this case, we would be betting for England to NOT win (either draw or lose).
    This cancels each bet out, right? You may be thinking why on earth would I do that? The reason being that we are NOT betting our own money each time. We are using our own money on one bet (on the betting exchange site), but the money that we bet on the original betting site is the free bet incentive that we are offered for signing up e.g. £30 free bet when you join the site.
  • Therefore, when the bets are settled, you end up getting back the free bet money as actual cash (so in this case, the £30 free bet comes back to you as real money – minus fees).

Matched betting is basically getting the free bet incentives back to you in cash. Simple as that really! Matched betting is not illegal, it’s just clever! You can match bet without free bets because you are constantly offered new incentives to stay as a loyal customer, so don’t worry – it’s not just a one off – you can do it over and over again. If you’re still unsure or would like some more information on it, head over to my matched betting post where it should hopefully explain all.

Re-selling

Re-selling is another thing that is huge within the money blogger/making money community, but again, isn’t really that commonly spoken about in general, which is crazy seeing how long people have been doing it, and how many people are doing it as their full time job!

Re-selling is basically where you buy things cheaply, such as at a car boot sale or charity shop, and then sell on for more money (such as on eBay, Amazon etc). It’s obviously not just the case of buying anything and being able to sell it on for more, but knowing what you are looking out for and what has a track record of selling well.

I dabbled in this a little bit but it was taking up too much time, and my main priority for earning extra is my blog, so I needed to cut back on other things in order to have enough time for the blog, but re-selling was definitely fun – going out sourcing doesn’t really feel like work, although the listing definitely did!

It’s worth noting that you will need to let the tax man know about any profit you make – just thought I should mention it as when you sell your own personal items on eBay etc you don’t have to declare it, but you do in this instance.

There are lots of amazing reselling accounts that you can follow for advice or tips on Youtube and Instagram – I always love seeing what they have been buying and making a profit on.

There is also Amazon FBA (Fulfilled by Amazon) which is popular amongst the resellers as you list your items on Amazon, and then send the items to their warehouse where they store them for you and when your item sells, they will deal with the delivery side of it for you (for a fee).

Dog Boarding/Pet Sitting

One of my favourite ways of earning extra money! I personally do dog boarding, and I have also done cat sitting and dog sitting as well. I use a website which finds all of my clients for me* – you are able to see all of the listings in your area and are able to choose which ones you want to quote for.

There are a variety of services that you can offer, such as:

  • Dog boarding
  • Dog sitting
  • Dog walking
  • Cat sitting
  • Small animal care

There are so many good aspects to doing any of these services as a way of earning extra money, and the earning potential can be huge depending on how much spare time you have – please don’t be put off if you have a 9-5 job, as there are many of these that you can do on a weekend or perhaps before work (e.g. popping in to feed a cat in the morning).

How much you charge is completely up to you, although it may be worth looking at what other people are charging in your area (there is a way of doing this on the website that I use to get clients), and also taking into consideration the amount of experience and skill that you have.

When I started dog boarding I charged quite a low fee as I had no reviews on my profile yet, and I only had personal experience of growing up with a dog and looking after other family pets. Once I began to get a client base, I increased my fees and was pleasantly surprised to find myself still getting consistent clients (and repeat ones! Repeat customers are the BEST).

As mentioned, these services can generally be really flexible and you are able to pick and choose the jobs that you quote for, so if you are particularly busy and feel unable to take on any clients, you simply don’t need to quote until you are ready.

This type of business is extremely scaleable – you can take on as many clients as you are able, and you can expand if your clientele reaches a large number. If you do something like dog walking as well, you can take out more than one dog at a time (if the owners/dogs are happy with this of course).

Blogging

Blogging is probably my favourite way of earning extra money, because it is a great creative outlet and I love working hard on it and seeing the rewards. As I write about money, I find it very fulfilling because I am able to help people in such a positive fashion – I get so many messages from people saying that I have helped them, and this means the world to me.

There are various ways in which you can make money blogging, with the main ones being:

  • Affiliate marketing (this is where you recommend a product or service, and if the reader clicks on the link and makes a purchase, you will receive a small commission for doing so).
  • Sponsored posts – these are posts that you write for your site about a specific company, and they pay you for the exposure to your audience, as they want their target audience to come over to them and buy from them.
  • Adverts. Pretty straightforward, you can put ads on your site and if people click on them you will get a small (tiny!) fee for doing so. Once you have built up your traffic, you will be able to apply to bigger ad networks that pay out much more.
  • Products. Many bloggers sell their own products such as ebooks, books, courses, printables etc.
  • Services. Many services that bloggers offer go hand in hand with blogging, such as freelance writing, VA services (e.g. social media management), blog audits etc.

All bloggers earn different amounts – some do it just as a hobby and receive a small amount of money, some do it part time, some do it full time – and then there’s the multi-millionaire bloggers! Trust me, if I knew how to make millions off blogging then I would happily share my secrets with you, but at the moment I work on the blog part time and I bring in a part time – full time income on it (varies from month to month).

It can take a little while to build up to earning money from your blog, and this sees a lot of people become discouraged when first starting out because there is no instant big cash flow that they may see other more experienced bloggers earning.

Some people earn money in their first month, some it can take months and months to earn anything at all (if you’re interested, I think I got my first affiliate sale in the second month), but as you are still learning as you go, the tips and tricks that come with earning money through the blog take time, as well as the traffic and building your readership.

Blogging is NOT a get rich quick scheme (apart from for those who have prior experience and plan for months/years before launching!) – but it IS possible to make money from it, and you can make decent money from it if you are in the right niche, you work hard and also work smart. Many people think it is all about the writing, but a lot of blogging comes down to marketing.

If you want to start up a blog of your own, I put together a 7 day email course to guide you through the process of setting it up and getting it all started!

Rent a room in your house

One of the most overlooked ways of earning a ton of cash – renting out a room (or more!) in your home. Obviously this is only possible if you have a spare room in your house, but many people nowadays do, especially when grown up children are moving out.

Again, this can be as flexible as you want it to be – I’ve seen advertisements for weekdays only, weekends only, University time only etc – it’s your home, so it’s 100% up to you who you want living in there with you and how often.

The best part about renting a room out to a lodger? You can earn £7,500 a year completely tax free (or £3,750 if you’re letting jointly)! This is due to the Rent a Room scheme by the Government, and if you are going to be earning under the £7,500 threshold then you don’t need to do anything, but if you are going to be earning over it you will need to declare it to the tax man.

You can also provide additional services such as meals or laundry, but you will have to add this amount to the rent amount (so can’t be sneaky about getting around the tax threshold!).

Ask around family and friends to see if anyone needs lodging, or you could advertise on Gumtree, Facebook, Airbnb (don’t go on this site unless you have to, I just went on briefly and ended up browsing apartments in the South of France!).

There are other ways of earning extra cash too, such as:

Check out my post with 100 side hustle ideas!

What ways do you recommend for people to make an extra £1000 per month?