How to Make Money in London: Top Tips for Earning Extra Cash

Since losing both our jobs back in 2008 when I was pregnant with our second child, we’ve always tried to diversify our income. It was pure fluke that we were both made redundant within weeks of each other from two completely different companies. It was just before Christmas and we had a two year old and a mortgage to pay. It was a tough time! However, it made me realise just how easy it is for everything to fall apart financially. There are lots of ways you can bring in additional income, particularly if you live in a large city where there are plenty of opportunities. So, here’s how to make money in London and give yourself a bit of a financial buffer.

As one of the most vibrant and diverse cities in the world, London offers lots of opportunities for earning extra cash. Whether you’re looking to supplement your income, save for a special occasion, or simply explore new avenues, the city’s bustling job market and growing gig economy can help you achieve your financial goals.

The Cost of Living in London

The cost of living in London can be pretty expensive. It’s widely known that living in the capital city costs substantially more than living in other parts of the country, but wages are generally higher there too.

Housing: Rent is usually the biggest expense for most people in London. On average, a one-bedroom flat in the city centre costs around £1,600 per month (that would get you a four-bedroomed detached house where I live), while a similar flat outside the centre will set you back about £1,200 per month. If you’re looking to share a flat with someone, expect to pay around £700-£900 each for a room.

Transport: London has an extensive public transport system, which includes buses, the Tube, Overground trains, DLR, and trams. A monthly travelcard in zones 1-2 is priced at £142, while a pay-as-you-go Oyster card or contactless payment allows for more flexibility. You can avoid peak fares by travelling between 9:30am and 4pm on weekdays.

Food: London has a huge range of different places to eat to suit different budgets. It’s possible to grab cheap meals at street food markets or food stalls for less than £10. Dining at a mid-range restaurant might set you back around £20-£30 per person. Food shopping is more affordable if you stick to supermarkets like Tesco, Sainsbury’s, or Asda.

Entertainment: London is full of entertainment options, but some can be costly. Cinema tickets, for example, typically cost between £10 and £15. Theatre and concert tickets vary widely in price, so it’s worth keeping an eye out for special deals or last-minute offers. If you’re looking for more affordable options, many museums and galleries offer free entry, and you’ll find countless parks and outdoor spaces to enjoy at no cost.

Prices are correct at the time of publishing but may be subject to change.

Exploring Job Opportunities

There are loads of different ways to make money in London. It all depends on your skills, free time, goals, and circumstances.

Part-Time Jobs

Part-time jobs offer flexibility and allow you to earn money while balancing other commitments. Here are a few places where you can generally find part-time work:

• Retail shops: Many shops need extra staff during weekends or evenings, so keep your eyes peeled for job openings.
• Restaurants, cafes, and pubs: London is well-known for its vibrant food scene. You may find opportunities working as a waiter, barista, or bartender.

Freelancing Platforms

If you have the appropriate skills, you can provide services as a freelancer. I have done some freelance work in the past and it can be a great way to bring in extra money without the commitment of employed work. There’s nothing like being your own boss, setting your own fees and working the hours you want.

1. Fiverr: Offering gigs ranging from graphic design to music composition, Fiverr is an excellent resource for freelancers.
2. Upwork: This platform is suited to more professional freelance work, where you can find jobs such as web development, writing, and translation.

Tutoring Services

If you have a knack for teaching, providing tutoring services in subjects you’re knowledgeable in can be a great source of income. I play the violin and ran some beginner violin lessons before I had children. I loved doing it and the money was pretty good too.

• Advertise yourself on tutoring platforms like Tutorful or MyTutor
• Network with fellow students, family, and friends to find potential clients
• Offer group sessions to maximise your earnings
• Share your services on local social media pages

Helping out the Locals

Have you considered working as a virtual assistant or personal assistant? With the rise of remote work, helping busy professionals or helping families handle tasks can be a lucrative option. Some tasks may include:

• Managing emails and schedules
• Booking appointments and making reservations
• Running errands and organising events

Making Money Online

My absolute favourite way to make extra money is online. I can do it from the comfort of my own home and even earn some money on my laptop whilst watching TV.

Starting a Website

One way to make money online in London is by starting your own website. You can create a website on a topic you’re passionate about, like travel, health, or technology. I run a few different websites now all in different niches. I started off with just My Money Cottage and gradually expanded as time went on. To make money with a website or blog, you can use various methods like:

• Displaying advertisements from platforms like Google Adsense
• Writing sponsored content for other businesses
• Offering your own services or products for sale
• Hosting guest content

Taking Online Surveys

Whilst many survey sites can be frustrating and hard to earn money with, it is still worth doing. The best site by far is Prolific Academic where I generally earn around £50 most months by doing just a few surveys each day. Unlike other survey sites, you are pre-screened before being offered a survey. This means that you don’t have to waste time filling out the survey criteria before finding out you’re not eligible and not going to get paid. Surveys can pay anything from 10p each to £3 upwards. Each survey will show the fee as well as a brief outline and how long it’s likely to take to complete.

Selling Photos Online

Are you good at capturing the perfect shot? Selling your photos online can be an easy way to make money. Stock image websites like iStock and Fotolia allow you to sell your pictures to a wide range of buyers. Whether it’s a stunning cityscape or a mouth-watering meal, snap away and start earning.

Digital Products and Courses

Another way to make money is by creating digital products like ebooks or online courses. If you’re an expert in a particular field, you can share your knowledge with others by creating an informative ebook or course. Platforms like Amazon make it simple for readers to find your ebook, bringing you passive income.

In January, I started selling images online through Etsy. I’ve been trying to add at least one new product to my Etsy shop each day and my sales are slowly picking up.

Use What You Have

In London, there are plenty of opportunities to make extra cash by making use of your existing assets.

Providing Accommodation

If you’ve got a spare room (or even an empty apartment or house), you can make money by renting it out on Airbnb. It’s an increasingly popular way for Londoners to make extra income. You don’t need to provide hotel-quality service, just ensure your place is clean and comfortable. People visit London from all over the world and temporary accommodation is in high demand throughout the year.

Transport Services

If you’ve got a car or even a bike, you can be part of the growing gig economy. Sign up as a driver with companies like Uber or deliver food for services like Deliveroo. Alternatively, if you’re a confident cyclist, why not rent your bike on Spinlister? You can set your own prices and availability.

Renting Items

Is your camera gathering dust or your toolbox sitting idle? Put them to work by renting them out through a platform like Fat Llama. Not only will you make money, but you’ll also be contributing to the sharing economy and promoting a more sustainable way of living. You can rent out all kinds of things. Here are just a few suggestions:

• Cameras
• Tools
• Musical Instruments
• Sports Equipment

Rent Out Storage

If you have spare storage space in your garage, loft, or shed, you can rent it out with Stashbee or a similar platform. People are always looking for affordable storage solutions, so it’s a low-effort way to generate some extra income.

House Sitting

Love animals and have some free time? Offer your services as a house sitter on websites like TrustedHousesitters. You can look after pets and keep an eye on someone’s property while they’re away, and it’s a great way to experience London from different perspectives.

Creative and Craft Sales

London has a thriving market for creative and craft items. As a maker, you can tap into this market by getting your unique and handmade goods out there. By selling second-hand items, you can find new homes for your pre-loved items and make some extra cash. You can also sell your items on Etsy and set up your own website.

Selling Second-Hand Items

There’s no denying the popularity of second-hand marketplaces. With the rise of decluttering and environmental awareness, selling pre-loved items is a smart and sustainable way to make money. Some of the most popular platforms include:

1. eBay.co.uk: A well-established marketplace for selling anything from clothing to electronics to DVDs. eBay offers two main selling formats: auction-style listings and fixed-price listings. Choose the one that suits your items best.
2. Vinted: A user-friendly platform to sell, buy, or swap second-hand clothing items. Vinted offers a straightforward selling experience – simply upload photos and descriptions and set your price.
3. Local community sales: Use social media networks or local events to sell your items in person. You can also sell at car boot sales or even online Facebook groups specific to your area.

Participating in Trials and Research

Clinical Trials

Participating in clinical trials can be an interesting way to make some extra money. There are organisations such as Trials4Us that offer opportunities for you to be a part of medical research.

It’s definitely not for everyone, but these trials are strictly regulated and the companies conducting them must comply with safety protocols. Just make sure that you fully understand the risks before you sign up.

Paid Studies

If clinical trials sound too intense for you, there are other ways to participate in research and earn money. Websites like UserTesting offer paid study opportunities, where you can test websites or apps, and give feedback on your experience. You’ll typically be paid £8 to £10 per test, and it usually takes about 20 minutes to complete.

Another option is working with Serve Legal, a company that hires young people (mainly 18 to 19-year-olds) to perform age verification checks for various businesses across the UK. It’s a flexible gig and can be an easy way to make some money.

Capitalising on Cashback and Rewards

Everyone loves a good bargain, and there’s no better way to save money in London than by taking advantage of cashback offers and rewards programmes. Always remember though that it’s only worth doing this if you were planning on making the purchase anyway.

Cashback Websites

Signing up for cashback websites like TopCashback and Quidco can help you earn money back on your online shopping. These sites pay you a percentage of your purchase back in cash when you shop through their links. It’s a simple and easy way to make some extra cash.

Always take some time to compare the cashback offers between different websites to make sure you’re getting the best deal.

Loyalty Programmes

Another way to capitalise on cashback and rewards is by participating in loyalty programmes offered by various retailers, restaurants, and service providers. Here are a few popular options in London:

• Nectar: Earn points while shopping at Sainsbury’s, Argos, eBay, and many other retailers. These points can be redeemed for money off future purchases, travel rewards, and more.
• Tesco Clubcard: Shop at Tesco stores and earn points that can be turned into vouchers for groceries, discounts at partner retailers, or even a day out.
• Boots Advantage Card: Collect points for every pound spent at Boots, which can later be used to save money on future purchases.
• Asda Rewards: Earn money back on your shopping – I’m saving all of mine up to use at Christmas!

Odd Jobs and Microtasks

Finding creative ways to make money in London can be both fun and rewarding. Tackling odd jobs and microtasks allows you to explore the city while earning some extra cash. Here are some popular options you can try out.

Mystery Shopping

Mystery shopping is an excellent opportunity to make money while having fun. As a mystery shopper, you’ll visit various shops and restaurants undetected and evaluate their services, prices, and product quality. After your visit, you’ll provide valuable feedback to help businesses improve.

To get started, explore mystery shopping websites like Market Force and RedWigWam. You will be able to pick and choose your assignments so you can fit them into your day.

Task-Related Services

Apart from mystery shopping, there are many other odd jobs that you can engage in. One popular platform for local task-related services is TaskRabbit.

On TaskRabbit, you can offer a wide range of services, such as:

• Handyman work
• Cleaning
• Moving
• Gardening
• Assembly (furniture, exercise equipment etc.)

Dog Walker and Sitter

If you love animals, consider becoming a dog walker or dog sitter. Just make sure you do your research as you may need to take out insurance depending on exactly what service you offer.

Exploring the Entertainment Industry

Casting and Extras Work

If you fancy appearing on TV, you can make money working as a TV extra. There are lots of different websites you can use to sign up for this kind of work.

Creating Content

Platforms such as TikTok, Instagram and YouTube have become really popular with people wanting to make some extra money. There are plenty of formats to explore, from vlogging and tutorials to comedy skits and short films.

Making Money with your Existing Skills & Knowledge

It’s always a good idea to look at the skills and knowledge you already have and use that to work out how you can make some extra money.

Conducting City Tours

A great option to consider is conducting city tours. If you have a knack for storytelling and love sharing your local knowledge of London with others, you could make some extra income this way.

There are platforms like Vayable where you can list your unique city tours and attract tourists looking for authentic experiences. It’s a brilliant way to showcase your expertise in London’s history, culture, and hidden gems. You can create walking tours, food tours, or even specific themed tours (e.g. a Harry Potter tour if you’re a die-hard fan).

Teaching and Coaching

Another brilliant way to use your existing skills and knowledge to make money in London is through teaching and coaching. Whatever your area of expertise may be – music, sports, languages, or even cooking – you can provide tutoring services to help others improve their skills.

There are various websites, such as Tutorful, where you can build a tutor profile and connect with students in need of your services.

Selling Stories and Content

Sell Personal Experiences

Everyone loves a good story, and your stories might be worth more than you think. One option for making money in London is to sell your story to newspapers, magazines, and websites. Personal experiences, especially unique or extraordinary ones, can be quite valuable to the right publication.

Creating and Selling Resources

Do you have a talent for writing or creating engaging content? London is filled with opportunities to capitalise on your skills. Companies like Notesale bring together students and educators who want to buy or sell resources such as lecture notes, essays, and study guides.

Lastly, don’t ignore the rich history that London offers. Walking tours, interactive workshops, and storytelling events showcase the historical significance of this amazing city. Share your passion and knowledge for London’s history to create fascinating content that both residents and tourists will enjoy.

Other Side Hustles

There are lots of different side hustles you can do to make money in London. I’ve got a huge list of 101 side hustles that’s worth a read.

Matched Betting and Competitions

If you’re open to using your brain rather than brawn, matched betting is an innovative way to make money without any risks associated with traditional gambling. It involves taking advantage of free bets and promotions offered by online betting websites, and strategically placing bets to cover all possible outcomes, ensuring you win no matter the result.

It’s worth noting that matched betting might not be suitable for everyone, but if you’re disciplined and have a good understanding of numbers, it can be a lucrative side hustle.

Another low-effort option is entering competitions. There are countless contests and giveaways happening all the time, with many offering cash prizes or valuable products. Some people make a great deal of money just by entering competitions. To increase your chances of winning, look for niche or local competitions, as these often have fewer entries. Example of sites to search for competitions are Comper’s Guide or Money Saving Expert. While entering competitions is unlikely to earn you a consistent income, it can potentially be a fun and surprising way to make some extra cash.

Money-Saving Tactics

One of the best ways to take care of your finances is to save money where you can alongside making extra money.

Savvy Shopping

London is one of the most expensive cities, but you can still save money on your shopping expenses. First, shop at local markets and discount retailers, where you can find great deals on fresh produce and household items. Keep an eye on flyers and apps for weekly sales to plan your shopping in advance.

You could also think about buying in bulk and splitting the cost with friends or roommates. This can save you a significant amount on your overall spend.

Find out when your local supermarkets bring out their yellow sticker items. These are items that shops need to sell quickly as they have reached their used by date. You can get some huge discounts and many items are perfectly fine to be frozen and used at a later date.

So, there you have it. There are lots of things you can do to make money in London, it’s just a case of figuring out what works for you. Let me know if you’ve found any other ways to make some extra cash whilst living in the capital.