Ah, the chance to earn more money. Let’s be honest—it’s something all of us dream of at some point. With mass economic uncertainty at present, more of us are fantasising about the prospect of more cash in the bank than ever before. But don’t let the news of struggling sectors stop you from trying to increase your earnings. It’s still very much possible.
Here are 5 easy ways to earn more money during a pandemic.
1. Become your own entrepreneur
Always fantasised about starting your own business? Well, now’s the perfect time to start. Thanks to the many online tools available that keep your overheads low, becoming an entrepreneur is now easier than ever. After all, there’s an opportunity in every crisis.
And if you don’t have a product to sell, consider dropshipping. With this method, you can buy items from a third party and send the products directly to the consumer. Our recent article How to start a business online contains all the information you need to get started.
2. Join the gig economy
The gig economy refers to the situation when workers get paid for the ‘gigs’ they do. (And don’t worry, this has absolutely nothing to do with performing on stage). Rather, the gig economy includes anything from delivering food and online packages to taking photographs and carrying out creative marketing tasks.
And being part of it could mean you’re a freelancer, contractor, employee or worker. It really does cover a wide spectrum. To get started, think about your skillset and whether you could apply it to any particular role. If your driving license is the only transferable asset you can think of, fret not. Deliveroo regularly recruits new drivers.
The benefits and disadvantages of joining the gig economy vary. Usually, it means flexibility (hooray!), but sometimes it could mean exploitive zero-hour activities (boo!). Keep these things in mind as you apply for new opportunities.
3. Save, invest and reduce your tax
If you don’t scrutinise your bank statements, you’re not alone. But actually, doing so can save you a lot of money. Take the plunge to look through your bills and cancel any direct debits you spot that you don’t actually use. Even if they’re only £5 a month, they quickly add up over time.
Another way to make money is by investing. And don’t worry, this doesn’t have to be in the stock market. We know first hand that that can be a little daunting—particularly in uncertain times like these. Instead, make investing in an ISA your first port of call. Everyone in the UK over 18 gets a £20,000 annual ISA allowance, meaning your returns are tax-free.
Get up to speed on your taxes too. Check that you’re on the right tax code and claim any tax credits you’re eligible for. Last year, Which? published a helpful article on ways to reduce your tax.
4. Refer your friends to TransferGo
Did you know that you can earn money simply for just inviting your friends to use TransferGo? Yup, that’s right. Each time you refer a friend and they send £50 between two different currencies, we’ll give you a £20 reward. Pretty good, right? And you can do this as many times as you like.
Simply find your invite code in the ‘Invite’ section of your account and share the code with friends and family via text, WhatsApp or social media. Tell them how fast and easy it is and once they’ve made a transfer, simply click and collect your reward from your TransferGo account. The only catch? Your friend must make the transfer within 6 months. (So tell them to get a move on).
5. Become a TransferGo affiliate
Another way you can earn more money with TransferGo is by becoming a TransferGo affiliate. If you have a relevant online blog and audience, you can earn a commission whenever you refer a new customer. We accept affiliates from around the world and offer real-time tracking, deep linking and optimisation tools. This way, you can easily see how much money you’re making. Ker-ching!
To get started, simply head over to Impact Radius to create your own affiliate account. From there, you can apply to join the TransferGo affiliate program and start earning today.