I make £700 a day from my lazy girl side hustle – I’ve cashed in £52k and the products sell themselves
A WOMAN has revealed that she makes £700 a day from an easy side hustle, where the products sell themselves.
After dropping out of her degree Mak, 25, thought she would have to be a bar tender forever, as she believed she didn’t have the qualifications to do anything else.
However, she revealed that she has now cashed in a whopping £52,000 from her side hustle, and shared with viewers how to get started.
The savvy side hustler revealed that to get started, all you need to do is visit eRank.com, which shares with users products which are currently trending, and selling well on Etsy.
Then, create a free Canva account, and use it to create a digital product.
Digital products are intangible goods, such as music, ebooks, and online courses.
As an example, Mak created a digital budgeting planner, which helps users to achieve their savings goals.
After this, Mak revealed that you should sign up for an Etsy account and create a digital listing.
Upload your digital product to Etsy, and add lots of keywords in the description.
Set your price and quantity, and then hit publish.
“There’s so many different kids of digital products to sell”, said Mak, revealing that she has made a total of 2,084 sales.
Once you have made just one digital product, you can sell it as many times as you like, meaning that you can just sit back and relax whilst earning passively.
Mak said that she now spends her days “in Italy drinking wine” and is able to make the cost of her rent in one day by selling digital products.
Her video, posted under the username @moneywithmak, has likely left many people impressed, as it has racked up over 6.6 million views on the video sharing platform.
TikTok users raced to the video’s comments section to share their thoughts on her side hustle.
Do I need to pay tax on my side hustle income?
MANY people feeling strapped for cash are boosting their bank balance with a side hustle.
The good news is, there are plenty of simple ways to earn some additional income – but you need to know the rules.
When you’re employed the company you work for takes the tax from your earnings and pays HMRC so you don’t have to.
But anyone earning extra cash, for example from selling things online or dog walking, may have to do it themselves.
Stephen Moor, head of employment at law firm Ashfords, said: “Caution should be taken if you’re earning an additional income, as this is likely to be taxable.
“The side hustle could be treated as taxable trading income, which can include providing services or selling products.”
You can make a gross income of up to £1,000 a year tax-free via the trading allowance, but over this and you’ll usually need to pay tax.
Stephen added: “You need to register for a self-assessment at HMRC to ensure you are paying the correct amount of tax.
“The applicable tax bands and the amount of tax you need to pay will depend on your income.”
If you fail to file a tax return you could end up with a surprise bill from HMRC later on asking you to pay the tax you owe – plus extra fees on top.
One person said: “Wow, this is exactly what I was looking for.”
A second person said: “That’s amazing. I hope for this type of success.”
A third person said: “Digital products are in very high demand right now.”
A fourth person added: “Oh this is so smart.”
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