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While it’s possible to make savings by cutting back on spending, cancelling subscriptions and going out less, there are only so many cutbacks people can make. Express.co.uk has compiled a list of 10 ways people can potentially earn up to £500 a month from home.
With inflation hitting a 40-year high of 10.1 percent and wage increases not keeping up, many people will be looking for ways to make a bit of extra money.
Half of British households have a spare room according to Property Reporter and could earn an extra £7,500 a year tax-free.
One way to make an income from it is to list it on Airbnb where it’s possible to earn up to £1,100 a month depending on which part of the UK one’s house is in.
Marcus Ahmad from Bristol told Express.co.uk: ““I realised that through Airbnb and a bit more effort – ie doing the place up and hosting people – I could actually make double the amount of money I would when renting it.”
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Another great way savvy Brits are earning hundreds of pounds a month is by signing up to car sharing platforms that allow them to make money from renting out their cars to other drivers.
Edward from London is earning more than £600 a month from listing his vehicle with Karshare which is just like Airbnb, but for cars.
He told Express.co.uk: “I’ve found it more productive than I expected with regards to earnings and am currently earning over £600 per month.
“It’s been easier than expected due to the keyless technology – I don’t have to do anything.”
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Not everyone would want to hire out their car, but they could earn over £100 a month by letting someone park in their parking space.
Al Baker previously told Express.co.uk how it’s possible to make over £100 every month through JustPark especially if a person lives in a city or near a tourist attraction.
If letting a spare parking spot isn’t an option, people could take on extra tasks or jobs through sites like TaskRabbit and Skillshare.
Pensioner Paul Melhuish told Express.co.uk: “Mainly I assemble flat-pack furniture, put up shelves, curtain-rails and blinds, and mount mirrors and pictures on walls.
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Paul said: “I end up doing about 40 hours per month.
“It earns me about £800 per month, sometimes a bit less if I do fewer jobs.”
Alternatively, it might mean leaving the house for a few hours but people could sign up to an extras agency near them and earn up to £200 a day.
10 ways to earn an extra £500 a month:
1 Airbnb – all people need to get started is a spare room
2 Karshare – make around £600 a month
3 JustPark – renting out the driveway could earn people over £100
4 Stashbee – let someone store their stuff in the loft and earn up to £300
5 TaskRabbit – limitless earnings depending on free time
6 TV and film extra – up to £200 a day
7 Tour Guide – up to £300 a day in London
8 Homesitting – around £20 a day but it’s an easier way of life
9 Market Research – up to £50 an hour but the work is few and far between
10 Skillshare – limitless earnings depending on free time and skills.
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