How to Make £500 In One Month

How to Make £500 In One Month

November 21, 2018 8 By wannabedebtfreeuk
This post may contain affiliate links. All opinions are my own.

With Christmas just over one month away, we’ve decided this year that we are going to make £500 in one month from side hustles to cover the cost. I am super motivated to achieve this goal!

So if you are reading this post, I hope you are thinking of joining me in making £500 in one month! Whether you are trying to increase your income to pay off debt, save or just cover the cost of Christmas like me, I’ve come up with a few ways that will help you reach that £500 target.

Making £500 in one month will obviously require a time investment, but we will aim to work smarter, not harder, to reach that £500 goal. I’ve listed a number of side hustles below, and I suggest you pick two or three and give yourself a mini goal for how much you want to make with each side hustle, because not all side hustles are created equal. Some are easier but pay less, like surveys, and some require time and effort but produce a far bigger return, like matched betting and selling, so a combination of the below ideas would be ideal.

 

Matched Betting

Matched Betting is my favourite side hustle ever! Since starting in February this year, I’ve earned around £6,000 tax free, which I’ve used to help subsidise our living costs, pay for a holiday to Thailand and now I’m going to use it to help pay for Christmas.

To get started, you need about £50 (which you will get back, with profit on top, when your first bet settles), and an hour or two to watch the videos in the Profit Accumulator free trial to really understand the process. In my opinion, it takes a few attempts to really understand what you are doing but it is so worth the effort, and you get a really good rate of return for your time.

If you are new to matched betting, you could easily surpass the £500 target we are aiming for in this blog post. And for existing customers like me, expect to make between £70 to £90 per week for about two to three hours of work.

So if you’ve been putting off starting matched betting then now is the time to get started- you could pay for Christmas with it! The Profit Accumulator trial is free, and you can make up to £45 while you learn the process, with no obligation to continue if you don’t feel confident after giving it a go. Matched betting is a great option to make £500 in a month, so if you have considered starting it but haven’t yet taken the plunge, make today the day that you go for it!

Selling Your Stuff

While I hate decluttering, I must admit it can be quite therapeutic and being able to make money from the things you own is a great bonus when you no longer want or need them.

Selling on eBay, Amazon, Facebook Marketplace, Gumtree, or wherever else you choose to list your stuff is really easy and it’s a way for you to recycle a pre-loved item and turn it into cash.

When listing, take good pictures and be honest in your descriptions. If there are any defects, mention them. Choose end times wisely- eBay suggests ending auctions on Sundays when web traffic is at it’s peak. All of these little details are small, but will help you to maximise your profits and hit that £500 target that we are aiming for.

Re-Selling

Re-selling involves buying items that you can them flip for a profit, and in this blog post, we will focus on re-selling clothing. If you have another area of expertise, then you can always re-sell items within your niche.

With re-selling clothing, use a good charity shop as a starting point. I think the reason so many people enjoy re-selling clothes as a side hustle is that there is the possibility to strike gold at any second- you can find something that you know you can re-sell for a huge profit. And what’s great is that everyone wins; the charity shop gets their sale, you make some money, and your buyers gets an item they love for less.

If you know your clothing brands, you’ll find re-selling a little easier in the beginning because you’ll be able to identify which brands will produce a profit, but this can be honed with experience.

A lot of people make great money with re-selling and for fashion lovers, it’s can be a great hobby that earns on the side. In terms of our £500 goal, re-selling is something that you could consistently hit your £500 goal on month on month.

Casual Work

I know this is a fairly obvious one, but I thought I’d mention a side hustle for those who would prefer to get out and about to side hustle, rather than working from home. Mr M side hustles every year helping with the entertainment as part of Christmas dinner events, and he really enjoys it. He can easily rack up £500 in the month of December helping out on Friday and Saturday evenings for a few hours.

At this time of year, hospitality is booming and there is always casual work available. If this sounds more like your thing than matched betting or selling/re-selling, you can always spent an afternoon contacting your local restaurants, bars and pubs to see what casual work is available.

Referring People to Things You Love

We tend to forget that when someone asks us where we got our earrings, or when we are talking about a good experience we had with a service provider, or when we tell a friend how awesome Amazon Audible is, we are effectively helping the brand to make a sale.

So if there’s something you love, see if they have a refer-a-friend program that pays you every time you refer someone. Shopmium, Topcashback and Quidco are a few places to get started with generous referral programs for things that many of us already use, and this idea can extend to anything you love and want to recommend to someone if you think they will get value from it- just check for a refer-a-friend program. And as we are all on social media, why not use the website section in your profile to add a referral link to a product or service that you absolutely love and believe others will get value from? An easy way to start earning a passive income 🙂

Money Making Apps, Websites and Surveys

While this idea is definitely one of the lower earners on my list, it’s such easy money and therefore it had to be included! You can find my round-up of my favourites here.

With these sites and apps, your time commitment is minimal and they are all easy to use, with Prolific and YouGov in particular being really interesting, in my opinion.

So this is my list of side hustles to make £500 in one month! If your favourite side hustle hasn’t been included on my list, let me know the details in the comments. And I’d love to hear what your side hustle goals are, so don’t forget to leave a comment below 🙂