UK’s Booming Side Hustle Economy: How One Woman Paid Off Her Debts and Became Mortgage-Free in Record Time

As the cost of living in the UK continues to rise, many Britons are turning to side hustles to supplement their income and achieve financial stability. But what does it take to succeed in this rapidly growing economy? One woman’s story of paying off her debts and becoming mortgage-free in record time offers valuable insights.

Why Side Hustles Are Becoming Essential

According to a nationally representative study by Finder, at least 43% of British people have taken on a side gig to generate extra income. These side hustles are not just supplementary; for many, they are essential for financial stability and growth. For Lisa Ebsworth, a 43-year-old from the UK, side hustles have been a game-changer.

The rise of remote work has led to an increase in side hustles

Ebsworth began her side hustle journey in March 2023, with a clear goal in mind: to eliminate her outstanding debts. Over time, these gigs have become an integral part of her life. But what side hustles has she found most effective?

Top Side Hustles to Consider in 2024

1. Secret Shopping

Secret shopping allows individuals to act as field-based market researchers, assessing service quality based on predetermined metrics. This type of work allows for flexible hours and can be a relatively easy way to earn extra cash while contributing to market research.

Secret shoppers can earn extra cash while contributing to market research

2. Surveys

Surveys are another side gig that Ebsworth has found to be effective, albeit time-consuming. While surveys offer flexibility and can be completed from home, they alone would not have allowed her to pay off her debts within a year.

Surveys can be completed from home and offer flexibility

3. TikTok

With over 50,000 followers on TikTok, Ebsworth has also tapped into the power of social media as a lucrative side hustle. Through her @sidehustlesister account, she has not only built a following but also monetized her content through TikTok’s rewards system.

TikTok can be a lucrative side hustle for those with confidence

The Rise of Side Gigs in the UK

The trend of taking on side gigs is growing rapidly in the UK. With 43% of Britons now engaged in some form of side hustle, the financial landscape is shifting. But what does this mean for the future of work?

The rise of side hustles is changing the financial landscape

As the side hustle economy continues to grow, it’s clear that this trend is here to stay. Whether you’re looking to supplement your income or achieve financial stability, side hustles offer a viable solution. So, what are you waiting for? Join the thousands of Britons who have already started their side hustle journey.