Tips for making more money?

Hey everyone :wave:

We’ve just published a new article on the Emma blog that looks at different ways you can go about making more money

The article was written by finance blogger The Bank Engine - you can check it out here!

He talks about:

  • Negotiating your salary
  • Moving to a better-paid job
  • Learning new skills
  • & starting a side hustle

Has anyone used any of these methods to earn/ make more money?

Getting a raise was the best thing I did. It was overdue but very welcome.

Side hustles are all the rage right now, but I think people forget that if it’s a true side hustle (not a new business you start while furloughed) then you can lose considerable personal time that’s essential right now.

It’s not for me but I admire those that push through and do it. 2020 and 2021 are the years for small business newcomers :raised_hands:

:clap::clap:

I guess it depends on what the side hustle is and how much brain space it takes up?

Selling clothes/ sharing referrals doesn’t take up much time, but I guess matched betting does? (started looking into matched betting but thought it sounded too confusing haha)

Matched betting isn’t for me. It’s still mostly luck in my opinion.

Yeah, not all side hustles are alike but I think those selling clothes often forget about packaging them, taking photos, queuing at the post office in your lunch hour, submitting self-assessments… it’s all good as long as you have the time :slight_smile:

Matched betting is 0% luck. It’s all maths (with a number of websites setup to do the maths for you).
But its extremely boring. I tried it and gave up after a few weeks.

Why is it called better if the outcome is predictable with maths?

Because placing bets is the context I suppose. Using a specific combination of free offers from bookmarkers, ‘back’ bets, and ‘lay’ bets you can guarantee not to lose money.

Did you make much? I see a lot of people on Instagram talking about it and they seem to make hundreds of pounds a month from it

I made about £230 in 10 days.

It’s easy at the start. Matched betting is dependent on you qualifying for free bet offers and this is easy to begin with because pretty much all bookmakers give free bets when you open a new account. But once you’ve exhausted those new account offers it seems to me it would become harder to qualify for free bets and also seems to require a degree of effort to manage they way you use your accounts to ensure bookmakers don’t just view you as someone who only does matched betting - at which point they may decide to close your account. I couldn’t be bothered to continue because of this and also because its pretty tedious.

But there does seem to be people who continue with it for months, even years.

Yeah if you could keep it up to make this much every 10 days I’d say it was a pretty good side hustle! (apart from the fact you said it was a little boring)

Continuing on with the theme of side hustles, we’ve written a new post on the Emma blog: 16 best side hustle ideas for 2021

A lot of these aren’t going to be “get rich quick” schemes, but with a little time and effort could be quite lucrative!