With the world of work turning on its head over the last year, many people are looking at ways to increase their income with a side hustle. Whether you are looking for a better work/life balance, saving for a house deposit or just want to have a bit more income security for those rainy days, the extra income you generate from a side hustle could change your life.

What is a side hustle?

The term side hustle is relatively new, particularly in the UK when the search volume on Google really took off at the start of 2020. Essentially, a side hustle is a second job - but that doesn’t quite conjure the same image of a grafting entrepreneur, does it? Traditionally, most people have worked a job during the week and reserved evenings and weekends for hobbies or family time. However, in a world before high-speed internet, YouTube and social media, a career pathway was typically fairly linear and many people are just looking forward to retirement when they can finally start to do something they enjoy - this doesn’t have to be the case.

Google searches for ‘side hustle’ over the last 5 years.

In today’s, digital world, it’s so easy to learn new skills, connect with others that are working in an industry, and launch a product or service online that there’s no reason not to be working in a job you don’t enjoy. Furthermore, if you didn’t want to branch out on your own but really want to earn extra money, there are many phone apps that support working in the ‘gig economy’ at a time that suits you.

UK side hustle ideas.

A side hustle is as individual as you are and doesn’t have to based on what you do in your main job (doing the same service is known as ‘moonlighting’ and could land you in trouble with your employer). In fact, doing something totally different is probably better as it adds variety to your life. So if you work at a desk during the week, you could offer a service where you work outside and vice versa.

Side hustle ideas for self-starters and those that want to build something:

What you will notice is that most of these ideas involve selling what you already know. Whatever your specialist subject or hobby, the chances are that other people can learn from you. All you need to do is document what you are doing and publicise it. Focus on the quality of the information and try to be as helpful as possible - once you’ve built a critical mass and a following, you can then start to monetise it.

Write a book on something you know about then self-publish it as a paperback on Amazon, eBook on Kindle and audiobook on Audible. This could be on anything from how to clean a house like a pro to the evolution of Land Rover diesel engines.
Build a website on your specialist topic to attract search volume then sell digital products, adverts and get extra income from affiliate links. Your nice website could be based on anything from dog training to model railway building. If you spend time researching something on the internet, it’s likely that others do too. Just find the most frequently asked questions on the topic and write blogs that answer them in the best way possible.
Start a Search Engine Optimisation (SEO) service for small businesses using tools like Ubersuggest and Moz. You can fix the technical problems with websites and also help them build their natural search ranking.
Sell your hobby. Whether you enjoy - jewellery making, fitness, lawn mowing, brewing beer or creating artistic ceramics - someone out there probably wants what you can do. Launch a website, set up social media accounts, start posting your work, attend local events and offer to do it for others.
Start a YouTube channel about your hobby and get income from adverts and sponsorship.
If you have the skills, you could offer web design for small businesses using platforms like SquareSpace and Wix. If you don’t but are reasonably computer-literate, there are loads of guides on YouTube about how to get started and you’ll become really skilled in no time. You could start by building your own webpage to advertise your business and learn everything you need to know along the way.

Side hustle ideas for those that want to start earning right away:

Not everyone has the skill, confidence or time to build a mini-business on the side. Equally, if money is the driving factor, you need to make sure you are earning from the start. If this is the case, there are many side hustles you can do that allow you to start earning right away.

Deliver takeaways either direct for the restaurant or using apps like Deliveroo.
Sign up to deliver parcels for Amazon. With the shift to online shopping there’s no stopping the rise in home-deliveries and Amazon is highly flexible.
Use what you already know and search out Non-Executive Directorships or positions in your industry’s governing body. These positions typically require several days a year to attend meetings but they can be very lucrative indeed. Also, there’s no reason you have to be towards the end of your career in that industry either as boards are often interested in representation from all levels. Furthermore, in industries where qualifications are required, there’s always work to be found in setting exam questions, testing exam papers and marking manuscripts.
Sign up to be a film extra. With the right amount of notice and with a flexible employer, you could earn extra money by dressing up as a zombie or Dickensian street urchin.

Is a side hustle worth it?

Life can become pretty boring if you are not moving forward and a side hustle allows you to learn new skills or make money using those you already have, supporting yourself and your family in ways that have just not been possible in the past. For the most part, if you are already doing something for fun, you may as well seek out ways to turn your hobby into a business and technology is making this easier and easier.

Equally, a side hustle allows you to put your spare time to good use and earn extra money that you could use for a house deposit, paying off your mortgage, buying a car or reinvesting in your own education. A side hustle could even take off and allow you to earn more money than you ever thought possible, allowing you to quit the job you don’t enjoy and focus on the things you do. So yes, a side hustle is definitely worth it and could be life-changing.

What’s the best side hustle?

Given that a side hustle means giving up your free time, the best side hustle needs to be something you enjoy doing - or at the very least don’t mind doing; it really depends on your motivations. If money is your main goal and you have a short-term target, doing something less enjoyable is well worth doing as there is an end in sight. Whereas if your goal is to launch a career doing something you love, you need to make sure that you continue to enjoy the activity, particularly after the initial excitement phase wears off.

Do you have to pay taxes on a side hustle?

In the UK, the money earned from a side hustle, like any other job, is usually classed as taxable income and you may need to register for self-assessment to ensure the correct tax is paid. If you are working for someone else, they may just take the tax via PAYE. There is however a tax-free allowance on trading incomes below £1,000, which you can read more about on Gov.uk.

Conclusion.

Whatever your reason is for starting a side hustle, you must keep your goals in sight. Whether it’s a number you need to save for a particular reason or you wish to build something up alongside your existing job so you can migrate to it full time in the future, working in your free time takes a serious level of commitment so remember to reward yourself along the way. What are your ideas for a side hustle in the UK? What tips do you have for others? Please let us know in the comments below.

This article offers information about financial planning and should not be taken as personal advice. Tax rules can change and will depend on individual circumstances.

Why income from a side hustle could change your life.