The moment of dread when an unexpected bill lands on the doormat is something that we’ve all experienced. Sometimes we all need to make extra money to pay for an unexpected bill or special event that wasn’t included in our normal budget.
But when you need to make money fast, starting a side business isn’t a realistic option, as the profits may not come in for months.
Don’t panic. There are a couple of options for earning money quickly. Whenever I’ve needed to make extra money within a short period of time, I have 3 fall backs.
The first is Matched Betting. It’s not for everyone, but if you are in the UK and you have a laptop, this is a chance to make a good chunk of cash FAST.
Risk Free, Tax Free Cash – Too Good To Be True?
Yes you did read that correctly. Because the government allow profits from gambling to be tax free, you get to enjoy tax free profits, even though technically matched betting isn’t gambling as there is no risk involved, if you do it correctly.
People have been matched betting for many years and it still works now. People from all different backgrounds are making good amounts of money every month.
The downside is that it takes time, and if you are working full time, your profits will be limited to the amount of time you can dedicate to it.
Realistically you can make a few hundred pounds within a month, with just an hour or so every evening.
Last year I had the opportunity to go away for a few days and needed to make some extra money to cover the costs of this unexpected trip.
I was aiming for a couple of hundred pounds and thought I could probably manage to pay for a weekend in Devon, but with matched betting I managed to earn enough money to pay for a 5 day trip to Budapest for me AND my daughter.
Read about my experiences of getting started: top tips for matched betting.
The only advice that you absolutely must follow is to NEVER try to do it alone.
The subscription services available (websites such as Profit accumulator or Oddsmonkey) are very reasonably priced and it’s not worth trying to avoid them if you want to make risk free profits.
They offer a trial period and you will make back your first couple of months subscription costs in profit within a couple of days. Best of all, they do all of the work for you by finding the most suitable bets.
Sell Sell Sell For Quick Cash
Whenever I don’t have the time to spare for matched betting, but I need to make money quickly, my second fall back is to sell everything I don’t need.
Facebook selling groups are the quickest and easiest way to do this with much more instant results than Ebay (although certain things will sell better on Ebay so don’t rule it out completely).
If you’ve already sold everything that isn’t nailed down, think outside the box.
Do you make something that people would buy? Cakes, art work, picture frames that people could use as a gift to others?
If you don’t have anything to sell of your own, do you have a hobby that you know has a buying market such as vintage clothes or fishing? Source some of those items that you know will sell, and sell them on at a profit.
There are lots of ways to make money selling online, and you don’t even have to sell tangible things!
You could sell your time or services and do tasks for people in your neighbourhood.
If you are good at painting, putting together furniture or laying wooden floors there is always a market for a local, reasonably priced Handyman. If you’re a woman, even better, there is a real niche market for women that want other women to do their DIY jobs, rather than have a man they don’t know come in to their house.
For those of us that are not blessed with any practical skills or talents, offer another service such as dog walking or sitting, ironing, cleaning or house sitting.
If someone offered to come and clean the inside of my car, I would pay them because I hate doing it. People will pay for things they don’t want to do or cannot do.
If you’re a whiz with technical things, ask friends and family on your social media accounts if they need their computers fixing, a simple website designed or a Facebook page set up.
People that you know need these things, but they put them off because they don’t know how to do it and don’t want to spend lots of money.
You can offer to do it quicker and cheaper than they expect, and as they already know you, they will trust you. If your friends and family don’t need anything, speak to local businesses in the area and offer to help them.
Get some ideas together of the services you could offer and advertise on the Facebook selling groups, Gumtree, Craigslist and any other local groups that you can think of.
If you can get a couple of your friends or contacts to give you a testimonial so that people feel assured that you’ll do a good job, you will soon have an offer of some work.
Money Saved Is Money You Don’t Need To Earn
My third fall back to make quick money is to save money.
I do this by reducing my monthly bills to the absolute minimum that I can. This can put an extra hundred pounds or so in my bank over the course of a month (if you reduce the big utility bills and insurance, but even more if you can reduce your mortgage).
But I don’t stop there.
I aim to save as much as possible by utilising my clubcard points, spending unused gift vouchers, have a least 3 No Spend days during a week for a whole month, take all of my pennies and 5 p’s to the bank, use up all of the food in the house rather than going shopping (I regularly stretch out a week’s shopping to 10 days or even 2 weeks), take lunches and drinks to work and avoid dropping into the local shop every day.
There are a million ways to save a few pennies, and it all adds up. If you don’t already do this on a regular basis, you can realistically cut your spending by a third this month.
Take a day to go through all of your big expenses and do what you can to reduce them. Websites such as www.moneysavingexpert.com will help you along the way and comparison sites such as Money Supermarket, USwitch or Compare The Market will show you the best options for things like utilities, insurance and mortgages.
If you swap to a different product or policy, try using a Cashback site such as TopCashBack to get cash back on your new product. Not only are you saving money, you’ll be earning some too.
To get some really great ideas about money saving, take a look on Pinterest for ‘Frugal Living’ ‘best money saving tips’ or ‘save money on groceries’.
There are so many ways to cut down your bills that you can choose the ones that suit you, without feeling like you have to sacrifice.
Thinking Ahead – How To Make Extra Money On The Side
There are lots of ways to earn money from home or on the side, but many of them take a while to see any real cash.
Sometimes, it’s better to be organised and start preparing now, rather than wait until the day the cash is needed.
One of the ways that you can do this is to earn a little bit at a time with things like surveys, mystery shopping or cash back apps.
Cash back sites and apps also usually have a referral fee, so you can even recommend them to friends and earn even more extra cash.
Save up the money you earn over a period of weeks or months, and only cash out when quick cash is needed.
About The Author:
Mel Trudgett lives in the UK on the beautiful Jurassic Coast, with her partner, 2 daughters and their very hairy, but adorable dog, Lola. She set up www.melsmoneymindset.com with the aim of helping people to change how they think and feel about money. She also gives practical tips on how to make money from home and how to save money.