Families brush up their ‘Techonomics’ to earn an extra £1k

Martin Lewis on how to earn money on your savings

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Half (49 percent) of UK households now admit to using creative ways to earn more, with the average household generating an extra £910 a year, thanks to their side hustles.

This includes using tech to sell pictures such as sunsets or pretty views from your smartphone to be used as stock images online (6 percent), getting paid to reach online game milestones (10 percent) or becoming a part-time tour guide in your local town or city (6 percent).

The research* of 2,000 UK consumers reveals out of those practising so-called ‘Techonomics’, people in Glasgow have the most side hustles going on, while Brighton residents are earning the most cash from tech hacks and side hustles.

The most popular ‘Techonomic’ hacks are reviewing TV shows (16 percent) and doing market research for brands (14 percent). 

Following the surge in dog ownership when many people were working from home, households are now finding pets can be an extra income with one in 25 (4 percent) renting out their dogs for lonely or stressed people to walk and 6% earning extra cash by dog sitting for others.

Economists are warning the cost of living crisis is likely to hit younger adults hardest** due to lower levels of home ownership, lower real-terms earnings and fewer savings to fall back on. Despite this, four times as many under 35s say they are investing in better quality tech to get more value in the long term.

Consumers are also looking at the long game when it comes to spending habits, believing that buying from a trusted brand is almost twice as important as getting the lowest overall price (31 percent vs 17 percent).

Sharon Meadows, the Director of Broadband and Mobile at EE, said: “Getting through tough times starts at home, by squeezing the value out of every connection in the family.  With EE, there are lots of ways to get more out of the services you already pay for like family data sharing, phone trade-ins and repairs.

“Our research also shows how much people rely on good quality products that give more value. Whether that’s selling pictures of sunsets from your holiday or renting out your dog – EE’s plans can help more families stay connected for longer and unlock the value of side hustles.”

With many households having to find new ways to make their income go further, the research found mobile (19 percent) and broadband (17 percent) were the bills Brits thought gave them the best value for money, the research found, ahead of gas (7 percent), electricity (9 percent) and water (15 percent) bills.

12 innovative ways that UK households are using tech to generate extra cash

Give opinions on TV shows

16 percent 

https://www.theviewers.co.uk

Market research

14 percent

https://www.ipsosisay.com/en-gb

Get paid to reach milestones in online games

10 percent

https://www.swagbucks.com

Share data with family members

10 percent

https://shop.ee.co.uk/family-account

Dog sitting organised via apps

8 percent

https://www.rover.com/uk/become-a-sitter/

Sell sunset photos 

6 percent

https://www.istockphoto.com/

Work as a tour guide in your area

6 percent

https://supplier.getyourguide.com/

Make or sell greetings cards

6 percent

https://www.shopify.com/uk/sell/greeting-cards

Sell ideas or solutions to problems online

6 percent

https://www.wazoku.com/

Rent out a spare room online

6 percent

https://www.spareroom.co.uk

https://www.airbnb.co.uk/

Rent out your driveway

5 percent

https://www.justpark.com/

Rent out dogs to lonely or stressed people

4 percent

https://www.bark.com/blog/comfort-pets/

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