Hello readers! In my last blog (which you can find by clicking here) I talked about the fact that from November onwards I’m launching a money earning challenge and would be providing weekly updates on the Money Mental website of the extra income I’ve been earning. Now as November is only a matter of hours away at the time of writing I thought I’d expand on that original blog slightly by talking about the various different methods I’ll be using to earn extra income. This is in the hope that some of what I will do will prove useful to people who are looking for additional ways to boost their income so that they can save money towards things like new cars, holidays or even helping cover existing bills or debts.
So how I will earn this extra money? Well, below I’ve listed my top 3 tried and tested ways that I will be generating extra income over the next few months and years to pay off my car (and indeed hopefully pay for other fun things like trips away!). They’re listed in the order of how much revenue I expect them to generate me personally but like all things in life how much money each revenue stream can make you depends entirely upon how much effort you put into it! For good measure, I’ve also included a bonus 4th method as well! So without further ado here’s my top 3 and the bonus option:
1. Reselling on eBay and Facebook
Regular readers of the Money Mental blog and viewers of the moneymentaluk youtube channel will know that my focus over the last few months has been taken up by establishing and then running an eBay shop (which if you’re looking to buy anything on eBay I can of course highly recommend looking at, you can find the shop by clicking here). This shop will be a critical component to meeting my money earning challenge. I sell rare and hard to find items through the shop as well as more everyday traditional items that I’ve been able to source cheaply from various locations including car boot sales, charity shops, online marketplaces like Facebook and eBay as well as helping friends and family dispose of unwanted items. I invest time in sourcing these items so that others don’t have to and I, of course, sell them on at a nice profit for myself and usually at below market rate in order to benefit my customers as well. This has been going really well for me and indeed you can follow my journey in detail on my youtube channel which you can view and subscribe to by clicking here.
Of course it is quite a challenge and takes a lot of hard work and investment (some of it financial) to set up an eBay shop but on a smaller scale I can recommend eBay and indeed the Facebook marketplace for selling all those unwanted household items that are cluttering up your house and bringing in some extra dosh at the same time! Look out in the near future for my beginner’s guides to eBay and beginners guide to the Facebook marketplace where I will give my hints and tips for selling on both of these platforms.
2. Smartphone Apps.
I’m a great believer in earning money with your smartphone while you’re on the move. I often spend a lot of time sat on trains whilst traveling to meetings, out looking for stock or vegetating in front of the TV at home and so I try and use this time as productively as possible. One of the ways I do this is by using survey apps like onepulse and curious cat (both of which are available on IOS and Android). Depending upon how much time I invest on these I can make between £20 – £60 a month just from these two apps alone. So a good little earner for helping meet the money earning challenge!
For more details about Curious Cat read the blog I wrote by clicking here.
And for more details about One Pulse I’ve handily written a blog which you can read by clicking here.
The great thing about those two apps is that they can be used anywhere at any time so are quite useful when I’m sat on a train or in front of the TV.
However, when I’m out looking for new stock I also use what I call ‘task based apps’. These are apps such as BeMyEye, Roamler, and EasyShift which pay users to go into shops and gather data about those shops, whether it be things like checking how they’re displaying promotional materials, assessing the customer service or whether they’re displaying the right prices for items they have on sale. These are usually on behalf of big blue-chip clients like Samsung, Tesco, Johnson and Johnson, and many others. I could talk about it in detail a lot but rather than do that I think it’s best to link to online money earning oracle the money shed where they have an article about earning extra money from task-based apps which you can find by clicking here. The article itself is slightly out of date as it references using Task 360 which has now been taken over by BeMyEye but it gives a good idea of how you can make some extra money! You’ll see me using some of these apps to meet the money earning challenge as well.
3. Mystery Shopping.
Mystery shopping is what I call a more ‘traditional’ money earning opportunity. Mostly because it involves you going out to visit a store, buying a particular item or reviewing a particular aspect of customer service, and then coming home and writing up a detailed report about it, submitting the report and then waiting for payment. So it’s not as immediate in terms of gathering and submitting data or getting paid as using the task-based apps is. But it can still be well paid and is a well established and well recognised way of earning extra money in your spare time.
Pretty much everyone has heard of mystery shopping these days and there are many established companies offering mystery shopping opportunities and I won’t bore you by going into the details of it all here. However, if being paid to shop does interest you and it’s not something you’ve done before then I can highly recommend signing up for a company called Marketforce who can guide you through the process of conducting mystery shops and will help you build up your experience sufficiently for you to go and seek mystery shopping opportunities with some of the other mystery shopping companies out there. You can sign up with Marketforce by clicking here.
You will see me reporting on mystery shopping earnings during my money earning challenge although for disclosure reasons I won’t be able to see which company has paid me and for what task so these will just be reported as totals.
Bonus option number 4. Survey sites
Finally, as I promised you a bonus option for earning money I thought I’d mention survey sites here. I’ve scaled down my use of these a lot recently as my focus has been on earning money through my eBay business. However, I still participate in a few of the higher paying sites when I have a spare few minutes. For those who aren’t familiar with what these sites are, basically, they are websites that pay you for giving your opinion. This can be on a wide variety of subjects from who should be the next prime minister, to what you think of a new advert for the latest smartphone, to reviewing an idea for a new type of cereal! Now, in all honesty, most of these sites don’t pay a lot of money at all for your opinion. But to save you time I’ve collated a list of the survey sites that, in my opinion, are worth signing up for and do tend to offer a reasonable reward for your time. To view the list and find out more details about the survey sites click here.
As my use of these sites has significantly decreased you may not see them pop up very often in the challenge updates but they may feature occasionally in the challenge!
I think it’s apparent from reading this blog that my main method of earning money in order to succeed in the money earning challenge for the foreseeable future will be through buying and reselling products on eBay and Facebook. But I wanted to highlight a few other ways I’ll be earning money as well. Not just because they’ll be appearing on my weekly updates of money I’ve earnt, but also because I want to show you some of the opportunities that exist out there. Hopefully, you’ll find the above useful, even if it’s only to act as a prompt to check your smartphone for some money earning opportunities or to speak to some of the mystery shopping companies you’re signed up with to see if they’ve got any work.
I hope you’ve enjoyed reading this. Look out for updates every Sunday/Monday about my money earning activities. If you’ve any feedback please feel free to comment below and don’t forget to follow me on twitter, youtube, and Instagram where you’ll find me under the name of @moneymentaluk
Thanks for reading 🙂