With the cost of living in the UK increasing significantly across energy, petrol and groceries, people are increasingly looking for extra work or side hustles to stay on top of their personal finances. 

From renting out a parking space to taking part in market research, we speak to Capital Bean to outline seven simple ways in which you could earn extra money each month.

1.Rent out a spare room or parking space

Depending on the size of your property, you may be able to earn extra money each month by renting out some land. This could refer to a spare room, which could be listed on travel sites such as Airbnb or Vrbo, or even car parking space, which could be especially useful if you live near good transportation links or tourist and entertainment attractions.

Reputable sites like Airbnb will ensure to vet any guests, and additionally offer insurance so that you are protected. Further, if you choose to rent out your parking spot everyday, each small amount could add up to help you earn hundreds each year.

The best part of this is that you have complete control and flexibility. You have the power  and freedom to choose the exact dates and times that you would like to rent out from your property.

2.Become a local tour guide

Becoming a tour guide in your local area could be a great way to earn some extra money in your spare time, as well as serving as an enjoyable and sociable experience.

You will need to be very familiar with your local area, as well as physically able to show visitors around. While there are no educational requirements to do the job, it is worth ensuring that you have some strong social media skills to help spread the word amongst local residents and visitors of your services.

By adding in free incentives, such as free brochures or complimentary drinks and snacks, you are able to charge more for a set rate and earn extra money while doing what you love.

3.Pet sitting or babysitting

If you are allowed pets in your own home, a fun way of earning extra money could be dog boarding or pet day care. There are many apps that can be used to pair up busy pet owners with willing people who have spare time and space to look after their pet.

This works especially well for those who have a flexible schedule and are able to take the pets on walks too. Sites such as Rover will connect the two parties together and you will receive payment through their servers.

4.Become a Taskrabbit

Taskrabbit is a free website that allows people to list their skills, such as handyman work, online, and connect them with people who need jobs doing around their homes or businesses, such as building a bed or wardrobe.

Taskrabbits can earn hundreds a month depending on how much free time they have, and this can be done alongside their normal job on the weekends or in the evenings.

5.Sell old goods

There are a few ways in which you can get rid of old or unwanted goods, and make money from it at the same time. Methods include setting up at carboot sales, in your front garden, or through an online marketplace such as eBay or Depop.

Carboots will typically charge a fixed price for your setup, whilst eBay and Depop take a percentage of commission from each sale made. Thus, the cheapest way to earn money through selling your own goods is from selling directly on or at your own property, such as in the garden.

You may be able to advertise the sale through your local newsletter, flyers or posters, or even online using social media. Each sale made will add up and provide you with some extra cash to spend or save at the end of the month.

6.Start blogging

Blogging online and on social media can be an excellent way to earn some extra money, as well as take some time to write about what you love and are passionate about.

Depending on your interest, you can write about anything that you want, such as food, finance, travel or fashion for example. If the blog gets big enough, you may be able to monetise it such as writing paid sponsored blog posts, or get sent freebies that you may have previously spent money on. 

Furthermore, if your blog site is getting a lot of hits and site visits, then it is also worth looking into featuring advertisements which is another way to earn some extra money from this side hustle of blogging.

7.Take part in market research sessions

Taking part in market research sessions either in-person or online is a great, and often informative, way of earning some extra money.
Market research involves talking about your needs and preferences. You are essentially being paid to provide your opinions to a company on a new product offering or advertisement for example. Market research sessions usually last a minimum of an hour, and may involve weekly tasks. The agency will pay you for your time, and you will have learnt some more about yourself and your needs too – which is always a bonus.