50 ways to boost your income during cost of living crisis
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You could make some extra cash without much effort. YOU can boost your bank account with dozens of side hustles, tricks and tips. The cost of living remains an issue for millions of households. Research by the Living Wage Foundation in October 2024 revealed many of Britain's 3.7million low paid workers were still struggling with everyday costs.
The foundation said 42% of low paid workers had less than £10 left each week to cover essential expenses while 39% had used a food bank in the preceding 12 months. Below, we've listed off 50 ways you can boost your income. If you are looking at making some extra money on the side, don't be put off by the thought of paying more tax on the cash you make.
Normally, you'd have to pay tax on any earnings over the personal allowance for basic tax-payers, which is £12,570 for the current tax year running from April 6, 2024 to April 5, 2025. But rules brought in back in 2017 mean you can make some cash on the side tax-free.
There are separate allowances for different money-making ventures, most of which are capped at £1,000. That means you don't have to declare your earnings to HMRC unless you earn over this amount. And you can use several allowances in one year, which means you could potentially earn thousands without having to declare the earnings.
We've rounded up the easiest ways to make extra money. 1. Fill out online surveys. Online surveys are a quick and relatively easy way to get hold of extra cash. You can get paid up to £6 per survey - and it’s a great way to make money, according to both Emma Drew of Emmadrew.info and author of blog, From Pennies to Pounds, Francesca Mason.
