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Tuesday, July 22, 2008

9 ways to make extra cash on the side

From dog walking to home tutoring, there are plenty of ways to beat the credit crunch, say Emma Simon and Ben Kershaw.

With household expenditure soaring, thousands of workers are being forced to take on second jobs to help make ends meet. It is not just those in traditionally low-paid work who are moonlighting with weekend and evening work - research suggest that business analysts, lawyers and IT workers are among the 1.5 million people now taking on a second job.

Even the Metropolitan Police has disclosed a five pc rise in the past year in the number of officers registering second jobs and business interests. One enterprising Met officer drives a hearse in his spare time.

But there are easier ways to generate a bit of extra cash. Just remember that any additional income, even if it is paid cash in hand, has to be declared to the tax man. HM Revenue & Customs is clamping down on second-jobbers and now employs a team of investigators to scour eBay and small-print advertisements looking for tax cheats.

1. Take up dog walking

For the keen dog lover, there's a cunning way to make money from man's best friend. If you take your dog for a walk round the block before and after work, why not charge to take neighbours' dogs, too? Dog-walkers can charge upwards of £10 per hour per dog, with higher rates for walkies at weekends and on bank holidays. Those interested should either post an ad in the window of your local newsagent on an online noticeboard such as gumtree.com, or search for local animal-sitting firms that are looking to sign up new walkers.

2. Make your home a movie star

It is not just Britain's stately homes and landmark listed buildings that are in demand by directors of films, TV series and advertisements. Many use ordinary homes and flats, and will pay the owners handsomely for the privilege of having the run of the place. Rates vary, but the minimum location fee is £500 a day; if your house is deemed suitable - or distinctive enough - to appear in a major film, it could earn up to £3,000 a day.

If you think your home has star quality, contact an independent agency such as Lavish Locations (020 8742 2992, www.lavishlocations.com) or Film London (020 7613 7676, www.filmlondon.org.uk). Alternatively, contact the European Film Commission Network (www.eufcn.net) which can give you further details of where you can register your property for European film productions.

3. Rent out your driveway

If you home fails the screen test, you can still make money from it by renting out your driveway. There are now a number of agencies, including letmepark.com and yourparkingspace.co.uk, that match motorists looking for regular parking slots with homeowners with spare drive space. Rates vary depending on location and the demand for parking in the area.

Not surprisingly, prime locations in London and those within easy walking distance of train and Tube stations command the highest rates. Those who live near major sporting venues, such as Wimbledon, Ascot, Silverstone or Wembley, can also charge premium rates during major sporting events.

According to one parking space agency, letmepark.com, homeowners can earn between up to £75 a week by renting out their driveways, with those near sporting venues taking between £10 and £35 a day, depending on the occasion and local parking availability.

4. Give your pet a taste of the high life

Television, film and advertising agencies are always looking for "star pets" to appear in their productions - and are willing to pay up to £90 an hour to the owners of animals with a natural ability to perform, who can take stage directions, and look generally adorable in front of a camera.

While leading agencies such as Animal Ark (020 8560 3029, www.animal-ark.co.uk), whose beasts have appeared in the likes of Absolutely Fabulous and Gladiator, prefer that their pet actors are raised by professional trainers, ordinary owners have a chance of getting an exceptional pooch or moggy on the books. However, be wary of any agents charging hefty advanced fees to represent your pet.

5. Become a home tutor

Whatever your skills - be it speaking a second language, playing a musical instrument or an advanced knowledge of calculus - you can get paid for teaching in your spare time.

Families will pay up to £25 an hour to tutors prepared to coach their kids through key exams. To see if you make the grade, contact Personal Tutors (personal-tutors.co.uk; 0161 428 2285), First Tutors (firsttutors.co.uk), the UK's largest database of private tutors, or localtutor.co.uk, which has a search engine matching subjects with teachers in a chosen catchment area. Would-be tutors with more esoteric skills may want to list their services on setyourrate.com. You simply list your skill, set your asking per-hour rate, and wait for someone to contact you.

Currently the site lists those offering poker lessons, photography workshops, and pole dancing fitness clubs.

6. Put your pedantry to good use

Fans of Lynne Truss (the author of the grammar guide Eats, Shoots and Leaves) will be pleased to know that they can earn good money by proof-reading and editing manuscripts - up to £3.95 a page. The Society for Editors and Proofreaders suggests a minimum rate of £19.25 an hour, although this is for those with appropriate proofing qualifications; beginners are likely to earn far less.

Also, in most cases, you will not be proof-reading novels destined for the Booker Prize shortlist, or even a Richard and Judy-approved bestseller - it is far more likely to be drier technical information. Look out for the numerous advertisements for part-time proof-readers in newspapers, or search online.

7. Become an artist's model

Many art schools and colleges will pay good money for life models to pose for their classes - and it's not just for the lithe-limbed and big-busted. As this generally involves sitting around with no clothes on in front of a group of strangers, it is not for shrinking violets.

But with models able to earn £12 an hour at some of London's top art schools, the pay may more than compensate for any initial embarrassment.

Central St Martins College of Art, which has more than 2,000 models on its books, says classes last between two and a half hours and five hours. Anyone interested should contact their local university, colleges and schools running adult education classes.

8. Join a focus group

Many companies want to know about your shopping habits - and are prepared to pay you to find out which flavour of crisps you prefer or how amusing you find the rhymes in greetings cards. Those who take part in online surveys will be paid £6 an hour. To register for NOP surveys, contact www.surveys.com.

Those taking part in focus groups are paid more - up to £50 per session, but most are randomly selected. For more information, contact Ipsos Mori (020 7347 3000, www.ipsos-mori.com) and NOP (020 7890 9000, www.gfknop.com).

9. Become a mystery shopper

Some market research companies hire mystery shoppers to review service standards in hotels, restaurants, pubs, health spas and even trains. While the rates of pay are relatively low - in some cases, just £5 an hour - these "shoppers" can claim back expenses, so at least you get an evening out for free, too. For details, contact NOP's mystery shopping team on 01865 262701, https://cybershop.gfk.com.


9 ways to make extra cash on the side

1 comment:

Anonymous said...

Great tips. I've had a home based tutor gig, quite stressful but good pay