Martin Lewis’s Money Saving Expert team have shared a few “hidden” ways people can earn tens or even hundreds of pounds.
Writing in this week’s Money Saving Expert (MSE) newsletter, the team said: “We normally focus on spending less, but this note is about how to earn a bit more.”
They added: “Now, let’s not over-egg the pudding, we’re talking £10s or at best £100s here, and it won’t always happen, but we wanted to bring out some hidden fun ways to get a bit extra.”
One side hustle includes testing new video games through Research-i, which could help people earn between £50 and £200.
The MSE team explained: “Before big new games hit the shelves, firms need to test them out. You’ll usually need to go somewhere for a few hours to do it, but it typically pays £50 to £200.”
The team noted that people can earn anywhere between £40 and £200 in two hours through market research focus groups on platforms such as Saros.
According to MSE, this often takes place online via Zoom and some people have managed to make “thousands”.
They also noted that people can make some extra cash by counting votes in general, local and mayoral elections, with some roles also being paid as much as £200 a day.
While living costs remain high, the number of Britons taking up side hustles has increased year-on-year.
Research from the price comparison website Finder found 43 percent of Britons have at least one side hustle to provide an “additional source of income” in 2024.
However, tax experts warn those earning over £1,000 extra a year from their hobbies may have to register as a business due to new tax rules.
Tax Bite experts said: “Whether you need to register your hobby as a business in the UK depends on factors such as the intention to generate income and exceed the Trading Allowance threshold set by HMRC.
“Registering your hobby as a business entails careful consideration of its financial implications.
“If your hobby ventures into the realm of generating income beyond the Trading Allowance limit, currently set at £1,000 per tax year by HMRC, you may need to register as a self-employed individual or establish a small business.
“This step can have significant impacts on your tax obligations, as you will need to accurately report your income and expenses, potentially paying Income Tax and National Insurance contributions on your profits.”
Martin Lewis is the Founder and Chair of MoneySavingExpert.com. To join the 13 million people who get his free Money Tips weekly email, go to www.moneysavingexpert.com/latesttip.
