Eight side hustles you could pick up now to earn thousands and boost your income

MORE and more of us are finding creative ways to put a bit of extra cash in our pockets.

Whether it’s getting paid to hug strangers, online surveys or a spot of mystery shopping, they can all help provide a nest egg.

According to Monzo, on average we are earning an extra £470 per month, or £5,640 per year, from side hustles.

Here, Laura Stott talks to trading and finance expert Patrick Reid, who offers expert advice on some flexible side hustles that could leave you quids in.

HUG IT OUT

HUGGING strangers sounds odd but it could earn you up to £120 hourly.

Professional cuddling is a non-sexual form of embrace therapy designed to help others seeking a human connection.

MYSTERY MONEY

PROVIDING information to retailers or hospitality outlets as a mystery shopper can pay £300 to £600 a month.

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Simple shelf products or customer service checks in local stores can earn you £20 for a task taking 30 minutes.

While relaying more detailed restaurant, store or hotel assessments takes longer, but rates increase.

For any side hustle earnings remember if you exceed the UK’s £1,000 extra work tax free allowance, the wage will count towards your overall annual salary and is subject to income tax alongside your regular salary.

Keep records and expenses to track totals for HMRC.

FORM A QUEUE

GET paid from a queue — the longer you stand in line the more you’ll make.

Typically, you’ll be keeping a place for someone in lines with a long wait, such as product launches or event openings.

You’ll then swap places with them when you get near the front.

You can earn up to £15 an hour for this on task platforms (such as TaskRabbit) but be warned, you might encounter hostility from authentic queuers. Line sitting is legal, but some events may have inspectors.

VENDING MACHINES

INVESTING in a vending machine requires a greater initial outlay but the financial rewards can be high.

A second-hand unit costs around £1,200, or you can lease from £20 weekly.

Consider the contents, from food to phone chargers, alongside location to maximise returns.

For example, crisps might be popular but profits aren’t great and requires regular restocks.

While locations with greater footfall, such as railway stations, will be popular, but also cost more to have your machine in this location.

Offset these running costs, and you could still net £300 a month.

LOG ON

IF you already spend hours online why not top up your earnings too.

Get up to £60 an hour for testing sites, apps and platforms for bugs, useability and performance.

You’ll usually need a laptop or PC with a reliable broadband connection and a microphone function to record your observations, all remotely.

Get going by signing up with companies such as Web Usability who will match you with clients seeking feedback.

WARDROBE WORK

IF you own lots of clothes, put your wardrobe to work by hiring out your outfits, making money from items you already have with hardly any effort.

For popular or pricier pieces, lenders can make up to £250 per month.

List your clothes, shoes or handbags for loan with precise descriptions and sizing on rental sites such as By Rotation or HURR.

Garments from big brands generate a premium too.

Most hosting platforms will organise postage for you, some even with courier collection services, but you’ll still need to factor in costs for cleaning or any repairs.

KEEP FOCUS

TAKING part in focus groups or surveys may not be exciting but it can provide regular income.

Market research groups, consumer feedback chats, or assessing products can pay up to £100 a session with smaller appraisals generating around £30-40 hourly.

Most sessions are now done remotely as well.

RENT A SPACE

LETTING others park vehicles on your drive or parking spot could net you up to £3k annually.