Side hustles

[itsybitsy]

I ended up re-reading it too ... very interesting how the side hustles have changed over the last few years.

My one remaining **tiny** side hustle is coming to an end: I had accounts with a couple of betting companies online, and they offer a free spin of a roulette wheel or something each day. Prizes were often more during big competitions - the Olympics etc. It was never a lot, but I got about £50 a year, for a few clicks in the morning. They've sussed it now and once the World Cup is finished, I'll deposit money so I can take out the remnants - each account has about £2.50 in it and withdrawal is a minimum £5

Otherwise, it's about reducing my outogoings - I do petsitting, but only for my niece. Last time, she gifted me a Netflix code that gives me 6 months access, that was good!

Oh - yes I also do a bit of cat/dog sitting!

[Frnc]

It's definitely a good idea to have a side hustle, learn a useful skill, or something. My side hustle was lodgers. I don't have any now, but could get one or two if needed.

When I was about 40, I was working in labs, and fed up. I went on a course, and became a tradesman. Self employed. I was pretty good at it, but too slow to make a lot of money. And as I got older it got harder and then impossible because my knees were too painful.

[grenfell]

Near us is one of those bargain warehouse type of places , pile it high and sell it cheap style. There's no set stock and the goods change constantly , it's whatever they can get in at a cheap price. Obviously they are making a profit but still selling cheaply but still cheap enough for the likes of my wife to purchase stuff and resell at a healthy profit. I've also read about people doing the same with the middle of Lidl items too especially the battery powered tools. The batteries themselves disappear very quickly and there is no possibility of buying online so people will buy them when they get the chance and resell for a premium.
One thing to remember is that strictly speaking all income should be declared and rules about selling on the likes of ebay have been tightened up.

[GeraldTheBonzai]

One thing to remember is that strictly speaking all income should be declared and rules about selling on the likes of ebay have been tightened up.

On that note, my daughter recently got hassled by HMRC. She was selling a load of stuff on Vinted and they contacted her asking if she was running a business. She had to explain that she was just having a mass clear out.

Looking into it, sites like Vinted and ebay do indeed tell HMRC if you do more than a certain number of trades or earn more than a threshold in a tax year. Think it's 30 trades or £1700 profit.

[grenfell]

Yes that's right I think . It's my wife who does the selling and she uses several different platforms , as far as we can tell 29 sales on vinted and 29 sales on another platform doesn't mean HMRC are told of a total of 58 sales. Quite useful is facebook market place as it's generally local so no postage and generally conducted in cash.