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5 Side Hustle Ideas to Help You Boost Your Budget

Moneymagpie Team 16th Feb 2024 No Comments

Reading Time: 4 minutes

Whether you already own your own business or are working for an outside firm, there’s a good chance that your budget is stretched these days. Inflation and supply chain problems have made it harder to meet expenses, leading many people to look for a second source of income. Fortunately, you don’t necessarily have to learn a new skill or go back to school just to make a little extra money.

Around 39% of millennials in the United Kingdom now have second jobs, which may make it seem like all of the good ones are taken. Nothing could be further from the truth. Anyone who wants to start their own side hustle may have to get creative, but there are plenty of opportunities out there for those willing to try one of these unorthodox ideas.

  1. Bookkeeping and Chartered Accountancy
  2. Captioning
  3. Interactive Digital Service Provider
  4. Graphic Design Freelancing
  5. Human Virtual Office Assistants

1. Bookkeeping and Chartered Accountancy

Due to the complicated regulations surrounding chartered accountancy, it might look like few people would ever want it as a second job. Getting a bookkeeping side hustle is nowhere near as difficult as it seems, however, and it’s an excellent way to earn extra income while still being able to set your own hours. Value-added taxes and other fees can be difficult for business owners to keep track of, so they’ll often be more than happy to hire a freelance bookkeeper and let them work at their own pace.

Professionals who’ve already received the proper certifications from a qualified accountant can start up a side hustle in this space with an absolute minimum amount of effort. That makes it a perfect choice for people who currently work in an office and want something to do when they head back to their flat at night.

2. Captioning

People looking for a good-paying side hustle have long turned to transcription services, which hire people to convert audio content into text form. Video captioning services are another attractive option that those with transcription experience might want to look into. Television shows and movies have to be captioned for the benefit of the hearing impaired. Job openings in this space continue to grow in spite of the deployment of software-based captioning solutions, and some companies are starting to hire part-time freelancers who do nothing but make sure that computers assigned to the chore aren’t making embarrassing mistakes.

3. Interactive Digital Service Provider

Teletext might seem like something straight out of the history books, but a healthy amount of television viewers still use some kind of interactive digital on-screen service. Pay-TV services still offer a limited number of content pages, and some entrepreneurs have even sought to resurrect teletext services using vintage equipment.

Specialists who have at least some experience with designing computer displays might be able to find a second job working with the oldest form of digital broadcasting still in use. Journalists, writers and political commentators are also needed to provide informational material for these services. Most digital telly services also provide viewers a guide that helps them find shows they’re interested in. Since these services have to describe what’s on every channel at all hours of the day, they’ll often work with freelancers to fill our their on-screen pages.

4. Graphic Design Freelancing

Since graphic design trends are constantly changing, small business owners are always looking to have their commercial artwork redone. This can be an expensive prospect, so most would be more than happy to work with a freelancer online. Anyone with artistic talent can attract at least some graphic design clients even if they’ve never taken any formal classes.

Technical drawings are in high demand as well, so those who’ve worked with computer-aided design software in the past might be able to leverage those skills into a side hustle almost overnight. Those who’ve never tried drawing before might still be able to break into this space if they know anything about fonts or typefaces. Companies looking to give their public image a face lift will often need to redo all of their typography, and they might be more willing to work with a freelancer than a professional consultant who might send them a hefty bill.

5. Human Virtual Office Assistants

When people talk about using a virtual assistant, they usually mean deploying a software-based solution that’s powered by artificial intelligence. Tasks that are too complicated to automate are often given to a new type of virtual assistant platform, which helps connect people with businesses that need them done. Successful assistants have found that they can make upwards of £120 in a day. Those who have at least some marketing experience can connect with companies that are looking to bring in outside sales personnel. These kinds of opportunities can be even more lucrative, with the most successful ones making nearly £394 per day.

As online markets continue to grow and change, all of these side hustles are likely to shift in ways business managers couldn’t have imagined. Professionals who are looking to break into a new field may very well find opportunity springing up in unusual places, so it pays to keep you eyes open for new jobs coming down the pipeline.

Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence.

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Jasmine Birtles

Your money-making expert. Financial journalist, TV and radio personality.

Jasmine Birtles

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