Everyone could do with some extra income from time to time. You may already have a fantastic primary source, but now you’re looking for alternative methods to make money. Well, if this sounds like you, look no further, as we’ve got some excellent ideas for you to seriously consider.

Peer-to-Peer Lending

For some people, they want to earn some extra cash, but don’t have the time to invest in other activities. Therefore, being able to sit and make interest on money earned via your primary source of income is the ideal way to grab a second stream. Peer-to-peer lending via trusted names like RateSetter, sees ordinary people become lenders to other individuals and businesses.

Over time, you can earn some good money, especially if your lending rates are high. You can, of course, then reinvest what you have made to generate more money over the long term.

Online Gambling

Online gambling is not only a great way to pick up some extra dosh to supplement your primary source of income; it’s exciting as well. So, unlike many other methods, it won’t be a bore or chore bringing in a second stream of cash, so long as lady luck is on your side. Interested parties can log on to reputable platforms to enjoy the latest games, which make use of state-of-the-art technology. The fantastic thing about online gambling is that there are options aplenty, so there is something for everyone.

We reached out to a few gambling providers over the course of the lockdown, and even managed to get a response from one. Tony Jones, a member of the marketing team at PartyCasino, a GVC online casino portal, explained that there had been a huge surge in popularity over the lockdown, but urged new and existing players to remember to only gamble with what they could afford to lose as per the Gamble Aware guidelines In terms of developing an alternative source of income, skill-based games could be the way to go, primarily if you specialise in poker, for example.

Renting Part Of Your Home

Renting out part of your home may seem daunting, but it’s a popular and trendy way to earn some moolah. It’s a method which has quickly become popular thanks to services such as Airbnb, with many people moving to convert their spare rooms or even their summerhouse and sheds into rentable spaces.

The fantastic thing about renting out part of your home is that you set the terms and conditions, including the rates. So, you effectively can pick and choose who stays when, and for how much. The money you earn from this method could go towards supporting the next option on our list in the long term.

Renting Property

You may already own more than one property, or you could be on your way towards doing so in the future. Well, if this is the case, you have an excellent way to guarantee a second stream of earnings on your hands. Traditionally, people who own multiple properties will rent them out to others on long term contracts or renovate and sell.

However, like renting part of your home out using services such as Airbnb, you can do the same with a property as well. And, by doing so, you will earn more money, and the stays will be short term too in most cases. It’s arguably the most on-trend way to pick up some extra dough, for minimal effort.