Make Money Online UK

Learn how to make money online with online side hustles and working from home gigs.

Technological innovations and developments in recent times have facilitated a wide range of new possibilities and opportunities, especially regarding the online space. Nowadays, it has never been more feasible to potentially make money online in the UK, with the internet facilitating a plethora of different ways for people to generate side incomes without actually needing to leave their homes. One common misconception is that making money online is limited to certain sectors and industries; however, more niches could now be taken advantage of if a suitable strategy or approach is taken. Here at OddsMonkey, we are going to look through some of the different ways that people can earn money online!

How To Make Money Online

Before you actually begin to make money online, though, there are still a handful of fundamentals that you should be aware of. For example, noting any particular skill sets or interests you may have may allow you to take advantage of these strengths by putting them into practice. 

After identifying these, you can start researching methods and platforms on which you could act as the basis for your business idea. Depending on whether you aim to sell a product or provide a service, finding the best place in order to do so is paramount. In addition to this, the range of different platforms researched could aid in actually making a final decision should one stand out above the rest.

After selecting an idea and platform to house it, it is then time to begin building your online presence. This is frequently something that is overlooked in regard to making money online; however, as all of this is based on the internet, you need to be recognised in the first place before starting to receive any orders. Building this presence can be achieved in a number of different ways, whether that is thanks to social media, advertisements, or even just a professional website. This is a vital step as it allows you to establish your online business and begin capitalising on any side hustle ideas you may have.

Once you have undergone all of these starter steps to make money online, the next fundamental is to stay consistent and persistent. If you are just starting out, the overall process could be relatively slow, which may be a little uninspiring. However, sticking with your idea whilst evolving and innovating to any changes in your industry could see your online business begin to grow.

What Are The Best Ways To Make Money Online?

Something we have already touched upon is that there are now more ways than ever to make money online in the UK. One common question, though, is what are the best ways to make money online, with the answer simply coming down to personal preference. However, despite this, there are still a number of options which seemingly remain constantly popular options. Recent years have seen methods such as affiliate marketing and social media management become more and more predominant, with these two potentially tying in with one another due to user-generated content as a whole being a service on its own.

In addition to this, freelancing has also seen a rise in popularity as a method to make money online. This can primarily be attributed to the flexibility it offers people. Freelancing once again revolves around personal strengths and skills, and applying these to a viable service or product can help in becoming a freelancer.

Should technology be a strong suit of yours, there are a number of different options to make money online that could cater to the more tech-savvy people. For instance, e-commerce businesses and online dropshipping are just two of the most popular options. This can be attributed to the general growth of consumer culture, not just in the UK but worldwide. As a result, these have become potentially profitable side hustles, with the latter not actually requiring any additional inventory management or tasks around delivery and shipping.

Despite hammering home how a skillset can be used to make money online, this is not always the case. For example, simple tasks like selling clothes online have become easier than ever thanks to platforms like Vinted and Depop, which allow you to potentially cash in for some old clothes that no longer see any use. Should time be a limit for you, though, then there are some other ways to make money online that aren't so time-consuming. For example, making money doing surveys and writing reviews is also an option which can be done whenever you have some spare time.

Tips To Earn Money Online UK

When looking to earn money online, there are a couple of tips that you can use to make the most of side hustles. Whether this is stuff to avoid or just general advice, there are plenty of different parts to consider when it comes to side hustles and when looking to earn money online.

✅Be Organised - When setting up your side hustle, it is extremely important to be organised throughout the process. We recommend that you set up a dedicated email address that allows you to have all your necessary information in one place. For other documentation or work, create a specific folder where all of your important information is in one place.

✅Withdraw Cash From Third-Party Wallets - Some online sites will hold your funds in a third-party wallet, and the money can only be withdrawn when a threshold is met. Once the threshold is met, we recommend taking the funds out as quickly as possible, as this avoids any possible complications down the line and ensures that your funds remain safe with you, as any problems with the third-party site could stop you from withdrawing the funds.

✅Spend Gift Cards ASAP - When you begin to earn money online, sometimes there is a choice to be awarded cash or in the form of gift cards. It is always better to be paid in cash as this money will be transferred over, and you can spend it as you please. However, if you can only be paid in gift cards, then we recommend that you spend these as quickly as possible to avoid them going out of date or the retailer going bust.

Throughout this process of earning money online, there are a couple of pitfalls to avoid, which can ensure that your funds are protected, and some tips which can help you make the most of these online money-making techniques.

❌Do Not Rush The Process - Throughout different side hustles, it can take time to earn enough to be able to withdraw your money, and if you give up, this means you did the tasks for free. Whilst it might not be quick cash, it is still a way to provide yourself with some exact funds or spending money, and by keeping your expectations in check, you can continue to slowly build up enough funds to withdraw.

❌Do Not Forget About Tax - This might not be applicable to all side hustlers, but if you earn more than £1,000 per tax year from your side hustle, then you will need to declare it to HMRC, regardless of whether you're self-employed or PAYE. The trading allowance means you do not need to report the first £1,000 you earn, but anything more will need to be reported.

Make Money Online At OddsMonkey

We here at OddsMonkey have full breakdowns on the different methods you could use to make money online; however, our main sector of expertise relates to matched betting. Should this be a new concept to you, this is a strategy which sees all outcomes of a betting market be covered, thanks to back and lay bets. By doing this, margins of profit could be locked in, with free bets being heavily used in order to do this.

Although matched betting is a feasible way to make money online in the UK, it is still something many are unfamiliar with and may find confusing. However, at OddsMonkey, we house everything from full video walkthroughs, step-by-step guides, dedicated value betting calculators and tools, and even an expert matched betting blog, all of which could be utilised to learn this side hustle.