Here it 2014, it can be difficult to make ends meet. Although Chancellor George Osborne tells us that he is looking out for everybody, it is clear that large amounts of the population are being left behind. What this means is that if you want to have that little bit of extra money in your back pocket at the end of the month, you’re going to have to take matters into your own hands and generate a second income.
If your current job isn’t making you enough to meet your needs, a good solution is to invest some of your salary each month into a project that will help you live the life you want to live. With that in mind, we’ve thought of three not-so-generic ideas that all have low financial barriers to entry, meaning that you don’t need to have a lot of start-up capital to implement one of them.
1 – Hobbyist Collecting
Whether you’re passionate about china dolls, comic books or wine, your hobby can quite easily be monetized to allow you to make that second income. If you do what you love and sell what you’re passionate about, you’ll be far more invested in your business than if you were selling something completely outside of your interest, and furthermore, you’ll be able to answer the questions of your customers in detail and with a real zeal.
2 – Pawning Antiques
If you have an eye for antiques or you simply have a loft full of old pieces of furniture and ornaments, you could turn your hoard of old items into cash by pawning them at a company like H and T Pawnbrokers, where you’ll be able to watch your old possessions transform into cash. To keep this up, you will need to replenish your collection of antiques regularly, and to do this, places like car boot sales and second-hand sites like Gumtree are your best friends.
3 – Creating an e-Shop
Finally, an online shop can be a straightforward way to generate some money on the side. An online platform like Etsy or eBay will help you to present your store in a professional manner, and with just a little bit of knowledge you can create a cohesive brand identity that will allow people across social media platforms like Facebook and Instagram identify your products from everybody else’s.
So there you have it: some low-cost investment methods that are relatively unique and can help you generate the side income you need.