| Real Life Strategies for Building Wealth

Last week we published fifteen ideas that can make you enough money to fill your fridge for a month. In case you are wondering how much this is, we set it at about £300 ($500).

This week we offer you fifteen ideas to make money enough to pay your monthly bills. In the UK, you’d need a minimum of £1,000 ($$1,700) to pay the bills for a month. Naturally, how much people need will vary depending on location, family situation and lifestyle.

Many of the ideas on the list could potentially make you much more than £1,000 per month – you know me, guys; I like to be conservative. Other ideas are probably a bit inappropriate and I included them because…well, just because.

Oh, and for the ones who think that publishing lists is for bloggers who have limited vocabulary and can’t write: it is not true. I started doing them because they demand imagination and train my ideas muscle. Very few of the ideas I think about make the cut.

Here is the list.

  1. Drive a taxi at night. I’ve been researching this one and talking taxi drivers. Apparently driving a taxi on Friday and Saturday night is fairly lucrative and can make on average £200 per night; and this is without the tips. Snag is that if you don’t own the car you have to give half of this to the owner.
  2. Buy a taxi and hire a driver. This links immediately to the previous idea; in this case you don’t have to drive the taxi. If you have some money to invest, you can buy a taxi and hire a driver. You’ll have to know the industry and have very solid connection, however.
  3. Start a cleaning business. Having a cleaning business is very different from simply cleaning one or two house in your spare time. Cleaning private house is okay but the much bigger money is in commercial cleaning: hotels, offices and hospital (though for hospitals probably one needs to meet strict criteria).
  4. Build a blog. Blogs can be monetised in variety of ways. My research shows that blogs can start making some money after between six months and a year of hard work. It is not easy, it need single-mindedness, dedication and front-loading; still, once a blog start making money it can be pretty passive or fairly low input.
  5. Buy a blog. Yep, apparently (and I am about to test this one) buying a blog and monetising it can be quite profitable.
  6. Set up websites. If you have the skill, go for it. There are many people out there who need or want to start a website and have absolutely no idea how to go about it. I know people who charge £800 ($1,300) for setting up a relatively simple site – one that takes couple of working days to do.
  7. Open an e-bay shop/on-line shop.
  8. Start Forex trading. You can make enough money online with Forex trading to pay your monthly bills. Some people make considerably more. Forex trading is a bit like playing poker: Lady Fortune plays a role but winning is mainly down to skill and how you ‘play your hand’. Trading Forex is a high entry activity and you need to learn the basics first; you can do this on any trading platform and Avatrade.co.uk is as good as they come. If you decide to try trading, please make sure that you make good use of the practice account that the platform offers to practice. Trade for real only after you’ve mastered the basics and you’ve learned to control your emotions. Good luck.
  9. Rent out a room in your house if you have it (this one won’t make the whole amount but it helps).
  10. Build apps. With this one the thing is to have many ideas and keep trying. I know people who make money from apps; some make much more than what they need to pay the bills for a month. There are no guarantees, though.
  11. Write a naughty novel (or any book at least 1,000 people would like to read). This is not for everyone but if you happen to be one of the people who can do it please go for it. E. L. James (author of ’50 Shades’) is the top earning author for 2013; she made $95 million. You probably won’t be able to do this; the important point is that her success somehow made it okay to read this kind of books and the market is blooming. Of course, you’ll have to publish it as an e-book.
  12. Make and/or mend things. If you are crafty you can always start a side hustle hand making stuff. I’ve seen people selling embroidery, crochet items, knitting for people, mending clothes etc.
  13. Edit technical and professional texts. There is demand for good editors to work on PhD theses, academic journal articles and other publications. All part of the international academic game dominated by English language journals and training.
  14. Work in a night club. This is the one I was saying may be mildly inappropriate. During my career as university professor, though, I’ve had several students who paid for their education by working in night clubs. They always remembered that they are in it for the money; they were also very good at it, I’m told.
  15. Cater for events. There is money to be made by catering for events. To be able to do it though you’ll have to be able to cook, naturally. More importantly you’ll have to understand nutrition, to be able to create appealing menus and organise events.

If you find this list useful as a source of ideas for work please share it with your friends; don’t forget that the unemployment rate is still very high amongst the under 30s and over 50s.

Add more ideas to make money enough to pay the bills for a month in the comments.

photo credit: Chris Devers via photopin cc