Got hustle? According to Simply Business, in 2021, around a third of UK adults said they had a side hustle, with Airtasker’s 2021 survey finding this number rising to 70% of young people!

Side hustles are all about earning a little extra dough on the side, away from your full-time job. And with inflation rising, recession clouds gathering, and the cost of living biting, there’s no better time than now to direct a bit of your free time towards creating an extra stream of income.

The thing is though; what are the best side hustles for proactive UK go-getters? Read on to learn some of our top picks.

Renting out property

No, we’re not saying become a full-fledged landlord, but if you own a property with extra rooms free, or a parking space in an in-demand area, then renting out the extra space is a classic way to enjoy a little extra cash.

There are also government programmes like The Rent a Room Scheme, which lets you earn up to £7,500 a year renting out furnished accommodation in your home. With that huge chunk of tax-free earnings, this is easily one of the most lucrative options available!

Trade forex

With the global economy entering choppy waters, the value of currencies versus others is changing every day. With this in mind, forex trading – the buying and selling of currencies for profit – is becoming ever more popular as a means of earning a little extra cash on the side.

If you’re considering forex as a side hustle, only ever use the money you’re willing to lose and make sure to read up on the topic before you start – there’s always the chance you might lose money.

Freelancing

If you have a special skill, from writing, to administration, to art and design, then you might want to consider freelancing – working on a project or task basis for clients. Working freelance is a great choice for all kinds of people too, so even if you live on the move and are out traveling, it can be a really good way of starting a small side hustle to make more money.

Dropshipping

This new-fangled side hustle involves setting up an online store where orders are fulfilled and sent by the manufacturer. As such, it has a big benefit over regular online storekeeping in that you don’t need to purchase, store, and potentially lose money on stock.

Naturally, this does result in the profit margins being lower, so to ensure you get the levels of business required to turn a decent profit, pick a product that’s hot in demand, and don’t be afraid to change tack in line with customers trends.

Do you have a side hustle? What is it and would you recommend it to others? Let us know in the comments section.