Case Studies
Source: finder.com
A side hustle usually involves you do extra work in addition to your normal job in order to make some extra money on the side.
Side hustles can vary vastly from low cost ventures to more serious and involved businesses. This can include selling clothes online, completing surveys or you might take on something a little more intense and rewarding such as freelance work or investing in the stock markets.
Whilst the objective of side hustles is to make extra money, they can also be rewarding as a new challenge or a way to do something you enjoy. By picking the right side hustle, it could be like being paid to do a hobby you love.
Recent times have made it difficult for people to make ends meet which is why side hustles have become so popular.
With rising inflation rates, people have turned to side hustles to cope with the cost of living.
Despite the average salary increasing from £31,285 in 2021 to £37,480 in 2024, a large number of Brits are still turning to ways to make extra income. It’s worth pointing out that whilst most are doing it to supplement their income, there’s also plenty of people who do it for enjoyment and get an income as a bonus.
Research commissioned by OddsMonkey revealed that 34% of those doing a side hustle found it more fulfilling than their full-time job. Almost four in ten (39%) of Brits admit that they wish their side hustle could be their main job.
The matched betting experts polled 2,000 Brits on their additional sources of income to discover the side hustles Brits are taking up to become more financially secure. Whether you’re looking for a side hustle alongside full-time work or just to fill the time like Making Money on Maternity Leave, plenty of great side hustle ideas are available.
The study discovered the majority of Brits are concerned with being unable to cover the cost of their bills (48%) and their rent/mortgage (28%), and therefore adopt a side hustle to earn extra cash.
68% of Brits sell their unwanted items on eBay and Facebook marketplace. They earn an average of £165 a month, making it the most popular side hustle adopted by Brits.
68% of Brits sell their unwanted items on eBay and Facebook marketplace. They earn an average of £165 a month, making it the most popular side hustle adopted by Brits.
| Most Popular Side Hustles | % of Brits that do this | Average Monthly Income |
| Sell second-hand items | 68% | £165 |
| Selling crafts | 46% | £163 |
| Baking and selling goods | 37% | £183 |
| Rent out a spare room | 35% | £241 |
| Blogging | 35% | £231 |
| Rent out a driveway | 33% | £217 |
| Sell beauty products | 33% | £249 |
Despite not being the most profitable side hustle, making crafts and baking were found to be the most enjoyable. Showing that while Brits want to earn more money, they want their additional sources of income to be something they enjoy doing. Merging a side hustle and potential hobby can be both rewarding and enjoyable; there are many options to choose from, such as looking into How to Become a Photographer.
Selling beauty products through direct selling companies such as Avon was found to be the most lucrative side hustle, with a third of Brits taking this up, earning an average of £249 commission a month. Acting as the retailer between the suppliers’ products and the customer is known as Dropshipping; check out the Guide to Dropshipping in the UK for more info.
Renting out a spare bedroom and blogging was also found to be lucrative side hustles, with Brits raking in an average of £241 and £231 per month, respectively.
Freelance side hustles are more popular than ever so we’ve had a look at the top 5 platforms that people are using:
| Rank | Platform | Type of work | Active Freelancers |
| 1 | Upwork | General freelancing | 18,000,000 |
| 2 | eBay | Selling Goods | 17,000,000 |
| 3 | Etsy | Selling Artisan Goods | 8,100,000 |
| 4 | Uber | Taxi Driving | 7,800,000 |
| 5 | PeoplePerHour | General Freelancing | 3,000,000 |
More than any other generation, 3 out of 5 gen Z members doing side hustles make money. Their younger counterparts, millennials, aren’t too far behind with 55% doing side hustles.
The younger generation seem to flourish when doing side hustles. This could be down to technology and the familiarity that younger people know how to use it. This can be useful to those interested in becoming an Instagram Influencer or a YouTuber.
Those with a side hustle earn nearly £3,000 a year on top of their yearly salary, and many admitted to dodging tax. If you’re worried about this, money made from Matched betting is tax-free, with the bookmakers here paying tax.
Despite earning over the £1,000 annual allowance, 34% of those with a side hustle confessed to not declaring their extra earnings.
The research also revealed that it’s not only those in full-time employment who have side hustles. Students are also taking advantage of side hustles to cover the increasing cost of living in the UK.
Earning on average, £895 a month and not receiving any help from their parents (47%), 1 in 3 students have taken up a side hustle to earn extra cash and are interestingly making more money than the average Brit. Students have found out How to Freelance Work From Home for extra money and many other popular techniques for raising funds.
Younger Brits earn £78 more a month than the average Brits from making and selling crafts (£241), £69 more for blogging (£300), and £17 more a month for baking (£200). This suggests the younger generation knows much more than just How to Make Money on Twitch or social media channels.
Peter Watton, spokesman for OddsMonkey, comments on the research: “With the constantly increasing cost of living, we were hardly surprised that Brits are having to take up side hustles in order to earn themselves some extra cash. While it is great that Brits are using their passions to earn extra income, it is important to remember to declare any income over £1000 to ensure you don’t get in trouble with the tax man!”
If you’re looking for an additional way to earn money on the side, take a look at our 7 Unusual Ways to Make Money piece.
*DISCLAIMER: We’re legally required to state that there is no guarantee of specific results each month. The amount of money that you earn can vary dependant on the time and effort that you commit each month.
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