Do you want to find out how to make money online in the UK? It can be a great way to earn some extra cash from the comfort of your sofa.
We check out five of the most popular ways to make money online and tell you about the good, the bad and the ugly. We rank each method from 1 to 10 in terms of how difficult it is to manage and the amount of risk involved. Finally, we offer a verdict that sums up how viable each method is as a money-making option.
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1. Make money with a cashback website
Difficulty: 2
It’s easy to use an online cashback website to earn some extra cash on purchases. You set up an account and search for the shop, then click the link to complete your purchase. It doesn’t take too much time, but you have to remember to use a cashback website. You’ll usually earn 1-5% of your purchases.
Risk: 1
It’s not particularly risky, but there are sometimes problems with cashback websites tracking purchases. This means you might not get paid every time. You might also be tempted to make extra purchases when there is a special cashback offer and waste money.
Final verdict
This is a good way to make some extras money online in the UK. It doesn’t usually take too long if you build it into your shopping routine. You won’t become a millionaire, but the money’s not too bad for a few clicks.
2. Make money with online surveys
Difficulty: 3
It’s fairly easy to do online surveys to earn money. But, you often have to do a pre-survey and you might get screened out. And did I mention that it can take a very long time to build up enough to get a payout? Still, if you enjoy doing surveys and like giving your opinion, then it could be a good idea.
Risk: 3
The biggest risk is giving up before you get a payout. If you do that, then you’ll waste a lot of time.
Final verdict
This is probably only worth doing if you really enjoy doing surveys. It can take ages to get a payout, though, as each survey only pays around 25p to 50p.
3. Make money on eBay
Difficulty: 3
Most people have stuff lying around the house that they don’t use anymore. You could sell these items to raise cash on eBay. You need to take some good photos, add a detailed description, price your item competitively and post your item when it’s sold. It can be a win-win because you get to declutter as well as earning some money.
Risk: 3
Some items don’t sell and occasionally buyers will mess you around. It’s usually a good idea to send stuff signed for delivery so you can make sure it arrives.
Final verdict
This is a no-brainer if you need to declutter. Just do some research to find out what your items are worth. If they’ll only sell for peanuts, it might not be worth the hassle.
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4. Make money with an online business
Difficulty: 8
If you have a great idea or a unique skill, then it can be great to start an online business. Businesses that may make money are things you can sell online like photography, crafts, freelance writing and web design.
You’ll usually have to spend time building up a social media profile, setting up a website and making contacts. It’s hard work starting and running a business and it’s certainly not an easy option.
Risk: 8
New businesses often don’t succeed and you need to be resilient. It definitely isn’t a guaranteed way of making money online. You might waste time and money if your business isn’t successful.
Final verdict
It depends. If you have a unique talent, then this could be how to make money online in the UK. If you’re not sure, then it might be best to stick to the day job.
5. Make money with a YouTube channel
Difficulty: 6
Everyone loves a good how-to video, and these videos are some of the most popular on YouTube. YouTubers earn advert revenue for their channel if they have a lot of views. If you have a special talent or skill, then this might be worth looking into.
Risk: 4
It doesn’t cost you anything to make a video, so you could always have a try and ask your mates what they think. If the thought of doing that terrifies you, then YouTubing probably isn’t for you!
Final verdict
It’s not for everyone. If you enjoy making videos and you have a valuable skill to share, then this could be a really fun way to earn some extra cash. Don’t expect to become a millionaire overnight though. It can take a while to build up followers and start earning money.
And finally
There are lots of ways to make money online in the UK. Some will only ever give you some extra pocket money but others could be the way to earn some serious cash.
Reviewed and rated 4 stars out of 5 by MyWalletHero
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