ANYONE looking for a post Christmas boost to their bank account may be looking for a source of second income.
Earning extra cash from outside of a main job could be easier than you think – and even lead to a new creative career.
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From renting out tools to cat-sitting, we round up how you can get your finances on track with other source of income.
Remember though, that you may have to pay tax on the money you make (we explain more below).
Sell old stuff
There’s nothing like a new year to have a new start, and having a good clean out could fill up your purse.
Selling unwanted items like clothes, crockery and even make-up is easier than ever thanks to selling sites like Vinted, eBay, and Facebook Marketplace.
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How each works is different, so read the small print first.
Usually the platform will take a cut of the sale and you may have to pay for postage on top, so factor that into your selling price.
We’ve spoken to dozens of savvy sellers who make anywhere between hundreds and thousands of pounds selling old stuff that would just be collecting dust otherwise.
Some have even turned it into a bigger money spinner.
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Caroline Evans, 50, told The Sun how she turned her love of interiors into a business selling gorgeous homeware found at charity shops and boot fairs.
She now makes an extra £1,400 a month income.
Tricks of the trade include hunting for items that are hard to find, like Nicola Frapwell.
The 32-year-old looks out for clothes that are rare in the UK, buying them in the US at bargain prices to sell on here at a higher price.
Meanwhile, we spoke to mum-of-two Stefanie Curran, 40, who uses the hack of selling in bundles to make more cash.
Get a part-time job
It may sound obvious, but a second job on the side doesn’t have to mean pulling a pint in a pub, or scanning shopping at the checkouts (though both offer decent rates of pay above minimum wage in some locations these days).
Some of the best paid part-time jobs could see you be an extra on a film set.
Ollie Simmers, 39, told us how he’s raked in a tidy £6,000 so far, appearing on sets for movies like 1917 and prestigious TV series’ like Vanity Fair.
Some extra jobs listings on Adzuna’s site offer pay up to £800 for a day’s work.
Typically you can also earn £47,609 pro rata being an extra without any previous experience, according to the jobs website.
Other well-paid part-time roles it found when it crunched the numbers for The Sun include private chauffeur (£43,572), life coach (£47,879) and electricians (£43,537).
The highest paying pub jobs at Christmas meanwhile, can be found at Youngs and Mitchell’s and Butler, at £12 per hour, though rates are higher for more specialist positions like chefs.
That’s above the minimum wage, which is £10.42 per hour for those aged over 23.
Out of all the supermarkets, Lidl and Aldi offer the highest hourly starting wage of £11.40.
Get crafty
If you have some hidden creative talents then put them to good use – you could make more than pennies selling your wares online.
Entrepreneurial mum Lara Christie, 40, has boosted her family finances by £2,000 creating handmade cards, baubles and pictures, selling them at local fairs and on her own website.
But remember to factor in any costs involved, like buying materials or creating and promoting your website, when calculating your profit.
Another mum, Emma Cattell, 35, now runs a £250,000 a year business after starting out with just a £5 sewing machine.
After finding s gap in the market, she makes cushions for Ikea’s bargain high chairs for parents looking for a “glow up”, selling them on Etsy.
The website lets you sell handmade items, but does take a cut of the sale, plus you need to factor in delivery fees.
Odd jobs for others
Other talents like DIY or assembling flat-pack furniture can also be put to good use to earn you money.
On platforms like Task Rabbit or Airtasker, you can advertise such skills and be hired by someone who needs you, setting your own rates.
We spoke to dad-of-one Greg Snowden who switched part-time bartending for doing home improvements and other small jobs through Task Rabbit, making £3,000.
The 37-year-old former actor has done everything from painting to changing a lightbulb, and he can work whatever hours he wants to sync with childcare.
Meanwhile, Audrius Stukas did tasks around his construction day job to put down the £20,000 deposit on his first home.
You could even get paid to queue on someone else’s behalf.
Again, how each platform works can vary so check the terms carefully first, plus any fees and how you might be covered if someone complains the work is not up to scratch.
Get paid to shop
It might sound like a dream job, but people really do get paid to go shopping or eat out at resturants.
All they have to do is report back on what the service is like.
Freebies include hotel stays, petrol and even Aldi shops for one mystery shopper, Ashley Pearce.
The 46-year-old told The Sun how she has made more than £6,000 in the past decade, on top of free meals and holidays.
Mystery shopping fits in around the school run, and can pick and choose the jobs she does having built up a decent reputation with the company she does it for.
Market Force, Ipsos, Tern, Serve Legal, Grass Roots, Redwigwam and ESA Retail are among the most popular.
You can sign up with a few and see how you get on, and some even do mystery “shopping” by post, email or over the phone.
“The real mystery is why more people don’t give it a go,” said Ashley.
Selling old tech
Who doesn’t have old phones, laptops and other devices knocking about unused?
In fact, it could be bringing in an extra income for you instead.
Ben Pine, 31, told The Sun how he’s made £3,054 selling on old phones, including his own, his family’s and those he’s picked up for cheap on Facebook and sold on for more.
You can sell old tech on sites like eBay, CEX and Doji, but be aware of fees and delivery costs, which can vary.
The exact amount you can get depends on the model and the state of the device, for example if it’s scratched or like new.
Check out our guide for getting the most cash when selling on old tech.
Dog walking and pet sitting
Animal lovers rejoice, you can make a pound or two in a pawsome way.
Pet sitting for cats, bunnies or even birds can be a money-spinner, as can taking dogs for a walk.
You’ll need to be well versed in all things animal-related for this one, and make sure you know the rules, like how many dogs you can walk at one time where you are (it can vary).
Becca Winkler makes £2,000 extra looking after cats while their owners are away on holiday, fitting it around her job as a video creator.
The 27-year-old used Cat in a Flat and charges £13 per visit to check in on each moggie, lasting from 20 mins to one hour depending on what they need.
This can include feeding, cleaning litter trays and playing with the feline friends, and she can often juggle more than one visit in a day.
Meanwhile, Kelly Evans turned her dog walking side hustle into a full-time dream job.
She now walks up to 30 pooches a day and has regular clients after starting in 2016.
Though you don’t need official qualifications, you’ll need to be good with animals.
You can advertise your services yourself for free on platforms like Facebook, but beware you won’t be covered if anything goes wrong and could be subject to a legal claim for accident or injury to the pet.
With platforms like Cat in a Flat, Pwshake and borrowmydoggy.com, you may be covered for certain events, but read the terms and conditions carefully first so you know where you stand.
Take in a lodger
If you have space going in your home, why not take in a lodger?
As well as company, it can be a source of a regular second income.
Eddie Tozeland, 64, makes an extra £4,200 a year renting out his spare room in Birmingham to Denny, 62.
He found the lodger using SpareRoom.com, a site dedicated to lettings, but you can also find someone informally on sites like Gumtree or Facebook.
Make sure to have an agreement first on what the rules are, like what rooms they can use, if bills are included and of course the amount they will pay.
You may need to get permission from your landlord, freeholder or mortgage provider, and have to pay a small fee for this.
Plus let your home insurance company know that someone else is living in the property or you could void a claim.
You can earn up to £7,500 a year tax-free from having a lodger through what’s known as the rent a room scheme.
Rent out space in your home
If having someone else around isn’t your thing, you can still make money from the unused space around your home.
Ashish Jain, 45, makes £2,300 renting out the garage he never uses for storage, and you can do the same with an empty bedroom, loft or other space.
He uses Stashbee, but there are other sites like storemates.co.uk and you can advertise on the likes of Gumtree or Facebook Marketplace.
Again, you’ll need to make sure that you understand how these work, as they can vary, including fees, and that you’re protected if something were to go wrong so you’re not left out of pocket.
How much you make can depend on where you are, how big the space is and what the demand is like.
Lend out unused items
If you can’t bear to get rid of something by selling it on – just in case you might need it later on – try renting it out instead.
Anything from clothes to tools can be something someone else is looking to borrow for a short period, and you can pocket some cash each time.
We spoke to a mum-of-two Jenny Reynolds who has made nearly £300 renting out a carpet cleaner.
Since 2021 it’s been borrowed 30 times and she earns £10 for every 24 hours it’s loaned out.
We spoke to one savvy entrepreneur who started off renting his own camera equipment for just £3 a day and earning around £150 a month.
Three years later Ed Guida is raking in £3,000 a month from renting out a range of equipment.
You can use platforms like Fat Llama for gadgets and tools, or By Rotation, HURR or Rotaro for clothes.
These will have protections, for example, if someone damages the item, but they usually charge a fee or take a cut of the profit.
We’ve rounded up all the items you could rent out, including cars and driveways, and you could make as much as £69,000.
Do I have to pay tax on a second income?
When you make money outside of employment, you may have to report your extra income to the tax man.
From January 1, HMRC will direct many platforms used to make money like Vinted, Depop and Task Rabbit to record how much money people make by selling their services on them.
Tax is usually deducted automatically from wages, pensions and savings.
But people and businesses with other incomes must report it in a tax return to HMRC.
Everyone gets a £1,000 tax-free allowance on income made from trading and property – for example selling things online, renting out a dress, or a part of your home.
This is known as the trading or property allowance, though can’t be used at the same time as the rent-a-room scheme.
Anything over this amount and you’ll usually have to report it to HMRC via a self assessment tax return.
How much tax you pay depends on your tax rate, and can be either 20% or 40%, depending on how much you earn from your main income.
You’ll need to file a tax return by January 31 each year for the money you’ve made in the previous tax year.
So by January 31, 2024, for example, you’ll need to file a self-assessment tax return for the 2022-23 tax year which ended on April 5, 2023.
If you don’t you could end up owing the taxman and be charged a penalty for late payment.
If you take on a second job, like in a pub or shop, you’ll usually pay tax in the same way as your main job – having it automatically deducted from wages.
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But it’s worth checking you have the correct tax codes on both payslips to make sure you’re paying the correct amount.
If you’re overtaxed you could end up being owed money by the tax man.
