Created by: Dave Harland | 12 August 2019

How to make money working from home

If you’re one of the growing number of people who want to ditch the 9-5 and start working from home, it’s likely you’ll want to know how to earn money and support yourself without getting out of your pyjamas.

It’s a lifestyle many people aspire to have, as the cost of living is greatly reduced due to saving money on travel and the endless meal deals from the supermarket near to where you work.

But, it’s not easy to drop a full-time position and start making money while working from home, as there’s a limited number of things you can do.

Decide your path

Before you start making money from home, you have to choose which is the best way to do it. Using the skills you have is the best place to start and doing your research is the first step.

With a quick search on YouTube, you’ll find people with similar skills as you who‘ve already made the switch. For example, if you’re a construction builder and you search, ‘How to set up your own renovation business’, you’ll find stories and most importantly, inspiration.

Alternatively, if you’re sick of the work you’ve been doing, here are some common ways people make money working from home and the websites they use to find work.

  • Second hand goods sales – Ebay, Gumtree 
  • Photographer – Perfocal, Upwork, Fiver
  • English teacher – DaDa ABC, Landi English 
  • Copywriter – Upwork, Fiver, Indeed
  • Recruiter – LinkedIn

Prepare before you quit

Once you’ve decided how you’re going to make money from home, you’ll need time to prepare.

If you currently have a full-time job and are planning on leaving, you need to figure out how you’re going to make money before you give up your responsibilities with an exit strategy.

That means you’ve got to use the spare time you have outside of the office to put your plans into action and do as much as possible to set yourself up for working from home.

But keep in mind, if you do start earning a second income, you need to let HMRC know as it’ll affect your tax payments. When you’ve built up your alternative income stream, that’s when you should consider leaving your full-time role.

Stick to a routine

Working from home has a lot of advantages but sticking to a routine can make life difficult as the need to get out of bed to catch the train no longer exists.

Starting a project or a piece of work is always the most difficult part, so it’s important to create a routine and start working at a time you feel the most productive.

Say yes to stuff

Working from home can be difficult and the first few months may be hard if you’re struggling to generate money, which is why you need to have the flexibility and willingness to take on whatever comes your way in the shape of work.

Even if it’s not something you enjoy or are particularly good at, in those early days, the most important thing is building your experience and contacts.

Once you’ve spent some time doing a good job, people will begin recommending you to others and you won’t have to say ‘yes’ to the things you don’t want to do.

Learn from failure

It’s a fact that you’re going to fail in some way or another. So get comfortable with it. Working from home is challenging and difficult which is why most people don’t want to take the risk.

That’s why it’s critical that you see each failure as a lesson and a way of improving your ability to be successful.

Just remember, if you’re self-employed and no longer receiving payslips, you need to let HMRC know about your status as the rules around self-employment and tax are different.

There’s loads of information on the gov.uk website, so have a read and make sure you know what’s what.
 

Money Make money

Get Your Free Credit Score

Download The Appit’s 100% FREE & FCA Authorised
get credit score
Get Your Free Credit Score