With living costs at record highs in the UK, many Brits are ‘working poor’, where at the end of each month bank balances remain at a deficit. Hence, boosting your income, with an additional side-hustle can really help with monthly budgeting. After all, on average, 20% of our income goes to paying off mortgages or paying rent – and that’s not even including bills! The great news is, thanks to advances in technology, on the flipside Brits can now actually make money out of their home.
The rise of the gig economy, flexible working and the digital age is enabling people to embrace their entrepreneurial spirit. There are ample methods in which Brits can make money, including renting out your spare space, becoming a professional gamer and even turning your living room into a film set! Here are the top ways you can make money out of your man cave:
1. Start your own side hustle/business
For those of you who have ever had a business idea or wanted to start a side hustle, you’re not alone. Around 8% of Brits intend on becoming their own boss by the end of 20191 while currently 25% are on the side hustling flex. Unsurprisingly enough, the numbers are expected to double in the next 10 years2, so this might be a good time to jump on the bandwagon. One of the first things you can do to kickstart your own business is to create a website as this is a key way of engaging audiences and boosting credibility. Did you know that the average cost to create website is between £500 – £1000?3 However, lucky for you – Wix.com is a free website building platform that offers a range of eye catching layouts and tools. Also, digitising your business will cut cost of staff, renting a space, bills and taxes.
2. Make money out your spare space
If you’re lucky enough to have a spare room, you can rent it out and earn up to £7,500 in tax free money annually with the government’s ‘Rent-a-Room Scheme’. Platforms such as SpareRoom make it easy to find lodgers that match your requirements. Think of it as Match.com for landlords and tenants. You can also make a pretty penny from renting out your driveway with sites like YourParkingSpace and Stashbee which are free and easy to sign up to. Register your details and make anything from £40 – £400 a month. In the words of the great Dire Straits ‘Money for Nothing!’
3. Become a professional gamer
If you have the knack for gaming, your skills and knowledge are pivotal to other users and can make you some extra cash. For games such as Fortnite, Grand Theft Auto and Minecraft, you can use websites such as Fiverr to sell your tips, hacks and accounts to other gamers. You can make anything from £5 – £20 for each tip. This means if you sold 10 ‘how to’ guides in a day, you can make up to £200 from the comfort of your own bed!
Cool tip: Fortnite is currently holding a World Cup to celebrate its success in the past year. These games are for the best of the best and winners can take home more than £20 million4.
4. Turn your home into a Hollywood film set
Did you know you can hire out your home as a film set? Some of your favourite programmes and movies are filmed down the road or in your neighbour’s home. Remember the glass-fronted mansion in season 2 of Dr Foster or the Dursley family house – 4 Privet Drive – in Harry Potter? All of these were filmed in real homes. Bring a touch of Hollywood to your doorstep by registering with location agencies such as SHOOTFACTORY. You can earn up to £2,500 a day5, and in a month’s time Benedict Cumberbatch could be perched on your sofa with a cup of tea or Kate Winslet could be passing ketchup across your kitchen table.
5. Get paid to pet sit
Enjoy a pet without the full time commitment, and add some extra coins to your piggy bank by looking after people’s pets. Use websites such as DogBuddy or Max & Kitty to earn up to £1,5006 a month. You can set your own rates, choose your own hours and look after some furry friends on your own terms. Plus, you never know what type of exotic animals you might come across doing this.