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Side Hustles

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Hi everyone!

In a few years I want to semi-retire abroad, so I'd like to start a side hustle online now, then eventually live solely from it.

Has anyone done this recently?  Are there any successful digital nomads out there? 

Things like proof-reading sound okay, and I don't mind doing some training. (I couldn't find anything on here about proof-reading that's up-to-date.)

Thanks in advance for any suggestions or help.  :)
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Comments

  • stevelogan
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    I don't have any experience in this, but would love to hear some advices as well
  • soolin
    soolin Posts: 72,416 Ambassador
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    edited 31 January 2023 at 11:15PM
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    There’s really nothing new out there that hasn’t been discussed on this board already. Any side hustle depends on your skills, available time etc, so have a read through various threads. There are surveys , selling on sites like eBay (see my signature to find the eBay board), taking a second job in your spare time all are dependent on what time you can afford to give up.

    Whatever you do though don’t get involved in any MLM schemes. 
    I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.
  • DullGreyGuy
    DullGreyGuy Posts: 11,657 Forumite
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    MrCreaky said:
    Are there any successful digital nomads out there? 
    Plenty, depending on your definition of successful

    The problem is that having a skill... translation, proof reading, graphic design etc are all fine as an employee but to be a business you also need a bunch of other skills in terms of finding your clients, credit control, book keeping etc or have a notable amount of capital to pay others to fill the gap. 


    For the last few years I was able to work anywhere, so did. Realistically I probably could make a bigger bottom line if we let our home and only took contracts that were 100% remote but for now happy to be back
  • MrCreaky
    MrCreaky Posts: 17 Forumite
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    Thanks for the replies. 

    I've been doing some research and, of course, there's no one-size-fits-all solution.

    For me, teaching English as a Foreign Language is coming out favourite at the moment, but I'm still looking into options and asking around. I've got a friend who teaches online so I'll ask him for his thoughts. 

    One thing I have noticed is that whatever catches your eye, there will be plenty of websites saying it's the best thing ever and an urgent need for people to make bundles of cash with minimal effort(!)
  • ITL89
    ITL89 Posts: 14 Forumite
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    I would like to keep an eye on this thread.  As a digital marketer I've managed to take up adhoc bits of work on the side, but the issue has been finding work consistently to keep things going and take off on that remote life.
  • MrCreaky
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    It seems like finding a side hustle that can translate into a main income will take some determination.

    Maybe a combination of hustles would be one way to go.
  • mrsyardbroom
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    I started a proof reading course once but I never finished. Honestly, it was dull as ditch water. I just couldn't go on any longer. I know someone else who did a bit of this in his spare time and also writing wills. He didn't make a living, just hobby money. It really depends on what skills and training you have and what training you're prepared to do. Can you teach anything? That could be a sideline. Do you practice reiki or groom or train dogs? There are all sorts of things that can bring in extra cash.

    Don't mess with pensioners. :cool:
  • MrCreaky
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    I’m thinking of something online, to be a digital nomad. 

    That’s interesting about proof-reading being so boring though. I think I’m decent at teaching, that seems the best option at the moment, so I need to look into training courses to get qualified.
  • digitallife555
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    I was going down this route a few years ago, but unfortunatly after finding my work contract in the loft (And having no room for negoation with my then manager)
    I had to temporarily give up on this idea. Fast forward to now and a new job plus the current financial state of things i feel that I really can't hold off any longer.

    The thing that still kind of stumps me is the "Business Bank Acct" and the problem of Highstreet banks not letting you use a Current Account for a side hustle/Starting as a sole trader.

    I started looking into Starling as they now offer a "Sole Trader" Account which will cover people working side hustles but they state the following..

    "When applying for the account we will need evidence of trading activity,
    and the sole trader can’t engage in any of the prohibited activities set out in the sole trader current account terms."

    So i emailed thier help desk and got the following reply..

    "Hi,
     
    Thanks for reaching out to us and thanks for your interst in Starling!
     
    When applying for an account in app there should be an option for this if you are a new company however, if there is no option for this,
    if you could create a document stating this and the reason why you do not have the documents the team can review this for you.
     
    Let us know if you need help with anything else."

    After going through their irritating sign up process a few hours ago, I've now been told that I have failed their sign up BUT i can always have a current account or try again. No information as to why i failed, and the only account i have right now is my current account that iv'e been told could be at risk if i start using it as a business one??

    Really at my wits end here is this some kind of sick catch 22 or have any of you been able to use a bank account for side hustles then transition onto a "Proper" Business acct ?

  • MrCreaky
    MrCreaky Posts: 17 Forumite
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    I don’t think there are any advantages in having a Sole Trader account as such.

    Years ago I was self-employed and I just used a standard current account I hadn’t used for a while. It never caused any problems.
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