What are the best side hustles to make extra money in 2022?

Side hustles are more popular than ever, with 2021 research from Simply Business discovering that a third of UK adults have one – each netting over £5,000 per year! With Statista figures showing inflation rising and pay failing to pick up, many are finding the draw of extra money tough to ignore, but if you hunger for wonga and want to earn a fair bit of bank, which side hustles are the best to choose? Read on to learn more.

Dropshipping

Dropshipping is becoming an increasingly popular side hustle that can be a great way to make money. With it, you operate an online shop where customers order products. These are then produced and shipped by the manufacturer, with you netting a charge as the middleman. Drop shipping companies can be quick to set up, and given that you never own any of the products you sell, can be inexpensive to run.

Forex trading

Forex has become increasingly popular through the years and if you’re happy to spend time learning it can be profitable. The activity involves purchasing currencies and selling them when they increase in value, or betting on whether the value of a currency will increase or decrease over time.

The activity is good for those that keep a keen eye on the business news feeds and understand business topics, and given that you may lose money, it’s only a good idea for people who have extra funds to play around with.

Freelancing

Have a skill that others don’t have? Have time to spare and don’t mind admin? There are lots of ways you can put your time and skills to task via freelancing, whereby companies and individuals pay you to work on a temporary or task basis. Blog writing, social media planning, business administration; there’s loads of opportunities out there via platforms like Fiverr.

Driving

If you have a car, there are plenty of ways you can make money.

• Deliver things – From takeaways to food, groceries, and parcels, there are loads of part-time delivery jobs out there you can do in your spare time. You’ll need to be fast and organised, but if you’re looking to get fit without paying for a gym membership, that’s no bad thing!
• Ridesharing – Several apps allow people to advertise their journeys out to other travellers, who pay fuel plus a surcharge. If you’re heading on a long-distance journey and fancy some company while earning some money, this could be a sound side hustle for you.

What side hustle would you like to do? Hopefully, with our ideas above, you should be well on your way to making a few extra pounds.