If you’re in any doubt about your earnings, speak to HMRC.
This includes making money from home, online or from small freelance jobs. It's worth remembering that we all have a ‘tax free’ personal allowance of £12,500 a year and you won't get taxed on ‘casual’ extra income, providing it doesn't exceed £1,000. If you'd like more great money content, SIGN UP HERE for our fortnightly Financially Fabulous newsletter! From renting out your driveway as a parking space to selling your old stuff, there are ways to make extra cash without much effort. While it might be hard to imagine fitting in another money-making gig alongside your regular job, boosting your existing income doesn't necessarily have to be labour-intensive.
One in five adults in the UK have started a 'side hustle' since March 2020, according to research by Aviva, with almost one in six claiming to earn upwards of £1,000 a month from their new venture.
Whether you're finding it hard to cover your living costs, want to boost your emergency fund, or are missing having some cash left at the end of the month to spend on the things you love, there's a lot to be said for having a side hustle.
