• nefrancis

Extra income: a useful guide for young people

Updated: Sep 8, 2020

Having delivered online discussions and thought sharing spaces for young people during the pandemic, it has come to our attention that many young people are worried about their finances and employability prospects during and after the pandemic. Many of the young people we have worked with are still in education and want to explore opportunities where they could use their spare time to earn some money.

Great news - there are lots of wonderful money-making opportunities out there whether you are a student, already have a job or are not in education or employment. Before we give you a list of side hustles to explore, we would like you to have a think about what you really want to take away from these opportunities and whether they are right for you. Let’s start off with the following four steps:

  • What kind of work makes you happy?

Whatever you choose it needs to be something that you are going to be happy to do outside of your studying or regular job. For example, there is no point in signing up to be a virtual assistant doing other people’s online admin if you know you do not like administrative work. Similarly, it is not worth starting a blog if you do not enjoy writing.

Take some time to think about what kind of work you think you will enjoy and may not enjoy. If you are unsure there is no harm in giving a new opportunity a try to see how you feel but make sure you take into consideration any start up costs and whether you are okay with losing that amount if you decide you no longer want to proceed.

  • How much would you realistically like to make?

It is worth thinking about how much you want to roughly earn. What amount of extra money each month could really make a difference to you?

You should also take into consideration whether you want to pursue a few side hustles and whether you want to take any to the next level and try to make a full-time income from it.

  • What is the start-up cost?

There are many opportunities that have absolutely no start up costs, but others can cost considerably more in materials, equipment, stock and advertising. Think about how much money you have available to start with, make sure the opportunity is affordable. Make sure you create a budget forecast so that your idea won’t fold once you get started.

  • How many hours do you have available?

Think about how much time you can realistically dedicate each week. This will give you an idea of how much money you could earn, and also how much potential growth there could be for the future.

Now that you’ve done a bit of brainstorming, let’s get down to business. Here are some ideas for you to get started on:

Become a tutor

Are you especially talented at Maths, Science, French, or other subjects that tend to stump others? If so, consider offering your own tutoring services! Parents want their children — whether in school or in college — to succeed and are often willing to pay for tutoring services. Be mindful - becoming a tutor requires not only a true knowledge of a subject, but also a knack for teaching. If you can handle those two elements, then choose your hourly rate and get started!

Take part in research and focus groups

There are a number of research and focus group companies across the UK who will pay you for your feedback on products and services. This could range from paid market research and usability testing, website testing, game testing, app testing, focus groups, one to one interviews and more. Don’t forget to do your research before you sign up!

Some research companies you could start off with include:

Become an extra

It almost sounds too good to be true to become an extra and feature in the latest films and TV shows, but it’s not! Especially if you live in a major city, there are often opportunities listed regularly. You don’t need any formal acting experience at all to be an extra but you need to be punctual and reliable. You will also need to be able to take direction as even if you are just sitting or standing in one position, it will be as directed.

Offer translation services

You don’t necessarily have to be studying a second or third language at university in order to take on translation work. If you are lucky enough to be bilingual or multilingual as a result of your place of birth or having family members from other countries, then you could offer your services as a translator. You could do this in person to translate verbally, or online where you can translate text from one language to another.

Sell your crafts

Do you have a knack for handmade crafts? You could sell anything from paintings, to handmade jewellery, to embroidery, to accessories to pottery on Etsy- one of the most popular places online to sell your crafts.

Resell clothing online

Becoming a virtual assistant is a super flexible side hustle which you can fit around your other commitments and can do from home. You can specialise in various areas such as admin, Pinterest, social media, or blogging. You can be a virtual assistant for almost any online service that you can think of. Sites like Fiver and Task Rabbit may help you to find your first customers, or you could reach out to people who are already in your network.

Become a virtual assistant

Lockdown life has led to more and more people having food delivered to their homes, with companies such as UberEats, JustEat and Deliveroo already in the scene, if you have access to a bicycle, car or scooter, delivering takeaway food could be a very convenient and flexible side hustle for you.

Become a food delivery driver

Lockdown life has led to more and more people having food delivered to their homes, with companies such as UberEats, JustEat and Deliveroo already in the scene, if you have access to a bicycle, car or scooter, delivering takeaway food could be a very convenient and flexible side hustle for you.

Create a YouTube account

Millions of people use YouTube every day, and with the rising popularity of smartphones, we use video more than ever. Perhaps you have a knack for D.I.Y, fashion or Makeup. Maybe you can share tips on how to cook healthy meals, have a good skincare regime or change a tyre. You could even share your views on popular music videos and T.V programmes via reaction videos.

It is free to open a Youtube account and once you attract a number of viewers/subscribers you can apply to monetise your videos with adverts, get brand deals and sponsorships and also have patrons that pay a membership subscription.

Become a pet sitter

More people have pets than ever before, which means that they need a pet sitter whenever they are on holiday, away for the weekend or in some cases doing long shifts at work and need someone to walk their pet/s.

If you love animals you could establish yourself a pet sitter in your local area. You could access apps like “Neighbourhood” and advertise your services on gum tree or Facebook to source local clients. This could be quite a lucrative business for you especially if you build up trust with people who come back to you for repeat business.

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