13 Mar 2023 - 5 minutes to read
With the cost of living crisis making most people’s day-to-day more expensive, your salary might not be stretching as far as it used to.
In fact, ‘many employees are facing financial worries with their salaries not keeping pace with inflation’, highlighting why you might be looking for other means to make money aside from your regular income.
There are various tips that can help you to make money outside of your 9-5.
Tips for making money outside of your 9-5 include, but are not limited to:
If you’ve got a skill that you’ve learned throughout your career that you can impart to others, consulting is a great way to earn extra money.
If you’re working for a company that allows flexible working, this is an even better option for you to earn money outside of your 9-5.
For instance, say you had a period of time within your normal working day that you dedicate to starting a consulting side hustle or alternatively set aside one day a week to get started, this could quickly help to supplement your income.
In order to begin a consulting side hustle, you will first need to establish yourself as an expert. You can do this in many ways, from networking to building your own website, but it’s essential to lay these foundations.
Once you begin, the money you can make from consulting is worth all the groundwork. That said, you should always check your current employment contract to ensure a second job is not prohibited.
Another tip to make money outside of your 9-5 is to find a dedicated space to separate your home from your side hustle.
Despite the fact that 1 in 4 UK adults have a “side hustle”, not everyone has the room to work at home. What’s more, running your side hustle from your home can begin to encroach on your work-life balance even if it's not related to your 9-5, which is where a coworking space or flexible office space can come into use.
At Tramshed Tech, we understand the importance of a healthy work-life balance, which is why we offer our flexible coworking memberships.
By working in a coworking space, you’re not only achieving that separation between home and work life, but you’re also in a creative environment surrounded by other solopreneurs that are working to similar ends as you.
This allows you to network and seek support from others in a similar situation, without the commitment or financial strain of a full-time office.
Another easy way to make money outside of your 9-5 is to make investments.
When you think of investments you might think of an extensive investment portfolio. That said, you can make investments on a much smaller scale that can help you to make money over time.
There are many apps out there that allow you to invest, including apps such as Moneybox. These apps are great for beginners and for people that don’t necessarily know where to begin when it comes to investing.
For instance, with the Moneybox Stocks & Shares ISA, you can invest in a wide range of funds and US stocks, helping you to put the money that you’re saving to good use and save more in the long term.
Whilst this type of investment is not a short-term investment, you can accrue a significant amount of money over time, helping you to generate money outside of your 9-5.
Last, but not least, one of the best tips for making money outside of your 9-5 is to seek support and guidance from industry experts.
Becoming a part of a working community such as Tramshed Tech gives you access to useful events where you can hear from industry experts, whilst also exposing you to business opportunities you wouldn’t otherwise hear about.
Communicating with other entrepreneurs and business owners that have paved the way before you can be significantly beneficial to your personal development and growing your side hustle.
Additionally, if you decide to turn your side hustle into a business, the Tramshed Tech Start-Up Academy is designed to support early-stage tech founders and help you to get your idea off the ground.
If you’re interested in one of our coworking memberships or want to learn more about the Start-Up Academy, be sure to get in touch with a friendly member of our team today.
Hopefully this article has provided you with some inspiration on how to make money outside of your 9-5.
If you're still a little stuck for side hustle ideas, here are 15 of the best side hustles all from the comfort of your own home.
We are Tramshed Tech: a startup ecosystem home to 50+ companies ranging from pre-revenue start-ups to scaling businesses with 600+ registered members from the digital, creative and tech communities. We’re currently based in Grangetown, Cardiff Central & Newport, and are soon expanding to other sites across South Wales to Barry and Swansea.
If you’re interested in joining us at any of our locations, please don’t hesitate to get in touch.
Written by Jemima Thomas for Tramshed Tech.