Jump to content
House Price Crash Forum

Could you do a side hustle and boost your lockdown income?


Recommended Posts

With lockdowns leaving millions unable to commute or socialise, rising numbers are discovering they have enough new spare time to start a 'side hustle'. 

In many cases, this is an opportunity to make money from a hobby – as well as bringing in some much-needed extra cash at a time when many incomes are reaching breaking point. 

Rosie Pope, 31, from Godalming in Surrey, works full-time as an environmental consultant, but set up her side hustle making silk hair scrunchies in April during the first lockdown. 

'I started making them for my wedding day, beginning with an ivory satin one for myself, then some for my bridesmaids. Then I just didn't stop making them,' says Rosie. 

'I had a lot more time due to working from home and not being able to socialise. I started giving them away to friends and family and then began selling them on online craft marketplace Etsy.' 

Rosie now has a thriving Etsy business – SilkPie Scrunchies – and plans to use her earnings to boost savings and redecorate her home. 

'I'm making more money selling scrunchies than I thought, but the main joy is that I love making them,' she says. 'It's so different from my day job – it is far more creative and tactile.' 

Recent research by business insurance provider Superscript found that three in ten side hustles were started during the first lockdown. 

 

35671236-8948769-image-m-69_160536284422

Link to post
Share on other sites
  • Replies 57
  • Created
  • Last Reply

Top Posters In This Topic

Half of those who responded said they aimed to earn more disposable income. Others wanted to earn money while on furlough, to replace lost household income, or to spend time doing something they love. 

Side hustlers earn £4,500 a year on average – £6,500 in London – and almost a quarter expect to go fulltime with their business in the future. Typical is Emma White, 29, who had already signed up to a yoga teaching course when she was furloughed from her travel consultant job in April. 

'I wasn't 100 per cent happy in my job and felt it was time for a change,' she says. 'I discovered yoga at my university rowing club and over recent years had got back into it.' 

https://www.thisismoney.co.uk/money/smallbusiness/article-8948769/Could-Hustle-boost-lockdown-income.html

Emma started teaching yoga in her spare time when she went back to work after lockdown, until she was eventually offered voluntary redundancy and jumped at the chance.

'It felt like it was now or never and I'm now doing something I'm so excited about,' she says. 

Her first clients were friends and family, but Emma is now expanding her classes – available at roottorise.co.uk to boat clubs, former travel colleagues, her lawyer husband's colleagues and word is spreading rapidly. 'Hopefully one day I'll be able to teach from a studio,' says Emma. 

Former photographer Matt Dowling founded support network and jobs website The Freelancer Club five years ago to help Britain's freelance community find work and improve their skills. 

The site now has more than 42,000 members and, says Matt, activity has increased substantially due to the pandemic.

'More people are trying to generate a second income as they're unsure about the future,' he says. 'Many will turn their side hustle projects into full-time jobs while others will just dip their toe in the water and return to their usual jobs if they can once things get back to normal.' 

Link to post
Share on other sites

Learning a side-hustle right now actually. All of that free time not spent on the train, potentially shaky economy meaning my job could go. Yeah, try something new with all of that free time.

Anyway, it's creative, something I enjoy, and is worth exactly £0 right now. TBF, I haven't put anything out for sale yet, but I'll let you know, in this thread, how it went/is going 365 days from now.

Link to post
Share on other sites

One trick is to get on some the US based expert advisory services.

Not remotely regular, but if you have the right knowledge you can earn $400 for a one hour phone call.

Basically it is hedge funds seeking advice on certain sectors or companies.

 

The other area is Non Executive Director roles.  I could do these, but right now don't have the time.

A FTSE 100 can pay £30-70k for 4 days a month.

Edited by Mikhail Liebenstein
Link to post
Share on other sites
 

One trick is to get on some the US based expert advisory services.

Not remotely regular, but if you have the right knowledge you can earn $400 for a one hour phone call.

Basically it is hedge funds seeking advice on certain sectors or companies.

 

The other area is Non Executive Director roles.  I could do these, but right now don't have the time.

A FTSE 100 can pay £30-70k for 4 days a month.

I'm not sure that being a Director of a FTSE 100 company really counts as a "side hustle".

Link to post
Share on other sites

Although some people are suffering financially, the majority have never had things better and don't need a side hustle. More people are saving money as they can't go anywhere, there's nothing to do, and there's nothing worth buying. Cash is now ripe for devaluation. If things carry on the way they are, we'll be seeing >£10 loaf of bread etc.

Link to post
Share on other sites
 

Does anyone else hate the term “side hustle”...

I prefer the traditional term - "second job". The phrase "side hustle" tries to make the second job sound cool and trendy and American, rather than something that was the exception in the recent past. Making hair scrunchies in your spare time in a corner of your house as piecemeal labor is something from a Dickens novel. You aren't "hustling" anybody.

As somebody else said, it also conjures up images of people selling MLM crap to each other on Facebook. 

Link to post
Share on other sites

An alternative job........anything handmade, bread, wine.........crafts of any kind.

Dog walker, general repairs, gardens and hedges, locksmith, pest control.....lots of jobs people need doing, lots of original handmade items people will buy.;)

Link to post
Share on other sites
 

MLM?

As PeanutButter describes, they are pyramid schemes that get round the law by having a product that is theoretically sold, but actually the real money is in convincing others to become agents and paying vast money for the right to recruit yet more agents to sell the non-product.

https://www.investopedia.com/terms/m/multi-level-marketing.asp#:~:text=Multilevel marketing (MLM) is a strategy that some direct sales,indicating a possible pyramid scheme.

 

Link to post
Share on other sites
 

I prefer the traditional term - "second job". The phrase "side hustle" tries to make the second job sound cool and trendy and American, rather than something that was the exception in the recent past. Making hair scrunchies in your spare time in a corner of your house as piecemeal labor is something from a Dickens novel. You aren't "hustling" anybody.

It's Dickensian if you are doing it as part of hand-to-mouth survival.

If you're living off furlough money and doing it because it's something you enjoy to pass the time that happens to make money as well, then great.

Link to post
Share on other sites
 

Does anyone else hate the term “side hustle”...

 

 

Creeping Americanisms.

Agree - the English language is rich and expressive but people have a weird desire to talk like Americans.

I did some interviews last week Of the 8 people I saw 4 did all that ghetto talk which emanates also from gang culture in the US.

Schools and parents need to advise kids that they may think they sound cool when they talk like this but it will not be respected in the workplace.  I cannot have people who talk like that talking to my clients or customers. 

Link to post
Share on other sites
 

 

Agree - the English language is rich and expressive but people have a weird desire to talk like Americans.

I did some interviews last week Of the 8 people I saw 4 did all that ghetto talk which emanates also from gang culture in the US.

Schools and parents need to advise kids that they may think they sound cool when they talk like this but it will not be respected in the workplace.  I cannot have people who talk like that talking to my clients or customers. 

Da bloods don't want your job 'star.

Link to post
Share on other sites
 

 

Agree - the English language is rich and expressive but people have a weird desire to talk like Americans.

I did some interviews last week Of the 8 people I saw 4 did all that ghetto talk which emanates also from gang culture in the US.

Schools and parents need to advise kids that they may think they sound cool when they talk like this but it will not be respected in the workplace.  I cannot have people who talk like that talking to my clients or customers. 

Out of interest, what sort of job/profession was this for?

Link to post
Share on other sites
 

 

Agree - the English language is rich and expressive but people have a weird desire to talk like Americans.

I did some interviews last week Of the 8 people I saw 4 did all that ghetto talk which emanates also from gang culture in the US.

Schools and parents need to advise kids that they may think they sound cool when they talk like this but it will not be respected in the workplace.  I cannot have people who talk like that talking to my clients or customers. 

Sounds like an interesting job interview!!, what are you interviewing for?  Shop assistant at JD Sports?!

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.

  • 439 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.