MONEY COMMENT
How To Earn Extra Money

By Jane Mack (TMFJane)
July 28, 2003

A friend of mine has been a househusband for the last two and a half years. He enjoys it immensely and although he finds it all very hard work -- particularly now there are two children -- it's rewarding enough for him to be glad that he doesn't have to do the old 9 to 5 routine every weekday.

However, in spite of all the childminding, cooking and housework that he does, he still feels he's not contributing 'properly' to the household. (Stupid, I know!) So, in the last 18 months, whenever he's had a quiet moment, he's been going out to his greenhouse, propagating some plants, and then selling them at car boot fairs at the weekend when his wife is able to help him look after the kids. He made nearly £600 last month! Seriously!

His tentative efforts at bringing some money into the household have now made him feel he could turn it into a proper little self-employed business by distributing his plants to local corner shops. Believe it or not, he's even looking forward to earning enough to pay taxes!

Obviously, plants are seasonal and so too are car boot sales but you can make a fair bit of money from them by selling the clutter you've accumulated in your home. We're talking about ready cash for all those unwanted CDs you got given for your birthday or for Christmas; that dreadful bedspread your granny crocheted for you; and what about that set of six crystal sherry glasses your aunt gave you when you got married?

Alternatively, you could get a second paid job. It's not something people think about necessarily, especially when they're tired after a full days' work, and that's understandable. But it's a good solution if there's a deficit of income versus outgoings. A temporary Saturday job or a couple of evenings a week in a pub can bring in enough to make the effort worthwhile. And let's face it, when you're working, you're not spending money on an evening out, so you're saving money too!

Finally, if you've got the room, another way of making money is to take in a lodger. My husband and I have done this frequently in the past and, as infuriating as they can be sometimes, lodgers can also become lasting friends as I can testify. If you're careful to choose the right person, particularly someone who seems to be on your wavelength, it can give you a different perspective on life and even widen your circle of friends. You're allowed to earn £4,250 a year free of tax from lodgers and, believe me, when you're trying to make ends meet, it's a godsend.

These suggestions may help if you're broke but they're also worth considering if you're trying to save up for something such as a mortgage deposit or a car. It's extra money for free.

Having been lodger-free for a while, we're seriously considering having another one just to help finance the home improvements we're about to have done. After all, it's cheaper than re-mortgaging by a long way!

Find out more about: Savings | Re-mortgages | Get Out of Debt