MoneyMagpie

Aug 20

Make money from your friends

A great way to earn money is by getting your friends involved too; there’s an abundance of ways your friends can help you put some extra cash in your pocket. Consider the following ways:

 

Referrals

Friends hugging

There are multiple ways you can make money via referrals, from referring friends on Uber to introducing them to the marketplace, with these simple referrals you could earn a significant amount of money.

How do I do it?

It’s really quite simple to refer friends to websites and apps such as Uber and Airbnb, you simply send a link to your friends from the given website and wait for them to book their free ride or make their first booking.

eToro, an investment marketplace for people to trade commodities, currencies and more, has set up a competitive referral scheme where referring friends can earn you money. To refer a friend simply log into your eToro account, type in your friends’ emails and click the invite button. Similar schemes exist with companies such as Hargreaves Lansdown.

What else do I need to think about?

Usually for you to be able to earn from referrals your friends have to either make a booking or investment with the given company before you receive any cash.

How much could I make?

On Airbnb you can earn £15 by referring a friend who decides to travel and £55 when they host. For every friend you refer on eToro you can make $100 once they have deposited upwards of $200.

 

 

Host selling parties   

Friends giving makeover

Hosting selling parties is a fun and sociable method of earning some cash from your friends; especially if you’re a working mum or dad and require flexible hours.

How do I do it?

There are many things you can sell at home, from household appliances to makeup. For example, The Body Shop at Home allows you to host a party by registering on the website. Once you’re registered, a local consultant will get in touch with you to help you set up your first hosting party. Additionally, freebies and offers are available to hosts that aren’t usually found in-store or online. There are a host of different companies with direct selling programs, which you can find on this link.

What else do I need to think about?

The amount of money you will make is directly linked to your hosting and selling ability. Some companies may also require you to pay a start-up fee and you may have to deliver goods.

How much could I make?

It’s estimated that the average home seller makes around £5,000 a year.

 

Making and selling

Woman making jewellery

If you’re an expert baker, or you have a knack for pottery, selling your homemade goods to friends is not only a way to make money, but also a chance to show off your skills.

How do I do it?

Consider what you would like to make and sell. For example, you could bake some cakes and sell them outside your local school to mums picking up their children. You could also use social media to sell homemade items such as pottery. Taking photos of your creation and posting it onto Instagram with a selling price is a good way to get your friends to consider buying some of your work.

What else do I need to think about?

If you’re planning to sell cakes outside a school it’s a good idea to contact the school to avoid running into any trouble.

How much could I make?

This depends on how much it costs you to make your items and how much you wish to sell them for. However, try to be reasonable with your prices.

 

Selling cuttings from your garden

Someone taking plant cuttings

Making the most of your garden can also mean making some extra cash by selling cuttings from your garden to your friends.

How do I do it?

You may have a surplus of garlic bulbs or you could have fresh lavender growing in your garden. Next time your friends are around why not lure them into your garden on a nice day and use your charm to sell some of your home-grown crops. You might also consider growing more exotic plants in your garden, which you can then sell on to your friends.

What else do I need to think about?

If the weather is poor, your ability to sell may suffer if plants haven’t grown.

How much could I make?

The best way to know how much you could earn is to compare what you’re looking to sell to local prices and set your selling cost from there.

 

Networking

Young professionals socialising in the office

The age old saying: ‘it’s not what you know, but who you know’ does have some element of truth to it. Consider attending networking events with your friends to see if you could land a new job.

How do I do it?

The chances are we all have a friend who has a dream job in a dream industry we would like to break into. Asking your friend to bring you along to a work party or event is the perfect opportunity to network and be introduced to a work environment you aspire to work in. Networking can seem stressful, however the possibilities of beginning a new career or receiving advice far outweigh any harm done by attending networking shindigs. Once you are at the event, get your friend to introduce you to various people in the room. There are also a host of networking events on meetup.com, which you can take your friend along to if you are nervous. Another way to network is online – try connecting with friends of friends on websites such as LinkedIn.

What else do I need to think about?

Don’t forget to bring your card! It’s always good to remember names too.

How much could I make?

Well, you probably won’t make any money upfront, but you could find yourself a new job with great perks.

 

Utilising your friends when looking for ways to make money can be fun and sociable, so don’t shy away from the opportunity to do so.

 

Neilson

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