Are you looking for some alternative income streams ideas? Whatever your current position in life and employment, there is always a necessity for alternative streams of income. Now more than ever, people are looking for alternative steams of income to either supplement or completely replace their current income source. Here are a few ideas, many of which I have used successfully, which you can use to supplement or completely replace an existing income. Some of these take longer than other to earn from.
Alternative Income Streams Ideas – Ebay
E-bay is a great resource for selling your old stuff and a lot of people have already used E-bay to sell unwanted products online. There are many ways to profit with e-bay too. I have written a couple of guides explaining two strategies on Ebay:
Finding local bargains to resell. Ebay Local Bargain Finder
Finding bargains to resell on E-bay misspelled auctions.
Many ‘e-bayers’ also use the giant auction site to sell items they have bought in bulk. This is another ebay tactic and you can sell multiple items through a single listing using this strategy. You can also find bargains on ebay itself by using the mispell tool. Misspelled items sell for much less than they are worth simply because they have been badly listed. You can use this to your adverantage to make a profit from these ‘gems’! See this article: how to start a profitable ebay business.Â
Alternative Income Streams Ideas – Selling Online Products
After a while of using e-bay I decided there must be an easier way to promote and sell products online. This led to research the selling of digital products through websites. I later found this to be known as affiliate marketing. Affiliates sell and promote all kinds of products through the internet and make commissions based on those sales.
Anyone can learn affiliate marketing and run a part time affiliate business from their laptop. Some of the main benefits of using affiliate marketing as an alternative income stream are:
- You can start up at low cost
- You can build it up around existing work
- It is totally flexible, choose your own hours and working location
- No need for sales skills
- You don’t need to hold any stock or employ anyone
- It’s a scalable business model
Alternative Income Streams Ideas – Car Boot Sales
Car boot sales offer the opportunity not only to clear out your garage of old junk but also to find hidden gems which will double your money! Using e-bay to sell items, you can pick up items for next to nothing and sell them on ebay to make a good profit if you know what will sell.
You can also arrange car boot sales as an extra income source. You will need to advertise and book a veune but if you can fill a field with 100 or so car booters and charge stall holder and visitors you can make a good income for only a few days work.
Alternative Income Streams Ideas – Rent Out A Room/ B&B
If you have a spare room why not consider renting it out to a lodger? Despite loosing some privacy, you can make a few hundred a month for renting out a spare room. Depending on your location you could also turn your house into a bed and breakfast for visitors to your area.
Alternative Income Streams Ideas – Extras Work Or Temp Jobs
Have you ever fancied being a TV Extra? TV extras get called up last minute so it helps if you can take work at short notice and have a car. Join a local extras agency near you by doing a simple Google search. Extras typically don’t work constantly and so usually have either a couple of agencies giving them work, or another job which they can work around it.
Temporary work can also be found through agencies who get paid to refer employees to companies. Try signing up to a temp agency and see what kind of work they have available.
Become A Tutor
If you have a marketable skill you can either teach from home or hire a room. School teacher can use their skills to teach extra lessons from home. If you have a musical talent consider teaching in the evenings. You can advertise locally usually for free in local supermarkets and post offices. Do you have any other skills you could market or use to get work?
See also passive income ideas uk for more alternative income steams ideas. Sign up to this video series for more information on starting your own online business from scratch. An online business can be worked around existing commitments and offers an extremely flexible alternative income option.
Share’s and Investments App
If you’d like to know more about shares and investments, but can’t find the time, there’s a great little app you can get called moneybox. Although this is a long term investment app, rather than a business, it’s still a great idea if you’re looking for alternative income streams ideas. Moneybox lets you ’round up’ your weekly spendings to the nearest pound and invest those small chunks of change in a range of property and equity funds. It connects to your bank account and automatically ’rounds up’ your spending. Each week the money you have rounded up is invested in a number of shares according to how you decide to set up the app.
It’s authorised and regulated by the financial conduct authority, and covered by the FFCS – Financial Services Compensation Scheme.
You also have the choice to increase your weekly investments by a number of settings. Double the value of your ’round ups’, choose a weekly payment amount or manually enter payday amounts when you get paid. You can also completely automate the round ups so you don’t even need to think about it. It’s great for anyone who doesn’t know much about shares and investing, but would like to start.