Through bank switching and user testing, one woman made £1,000 in a month on top of her main job.
Bethan Bruma, 46, lives with her husband and is a Specialist Teacher of the Deaf. Since the pandemic, she became very focused on saving and investing as well as having a little side hustle to bring in extra money.
As the cost-of-living crisis continues, she encouraged others who may be feeling the financial squeeze to try various online money-making opportunities just as she has.
For the past 18 months, Bethan and her husband have been working towards paying off their mortgage, so they have been trying to find extra ways to make and save money.
She joined various money-saving groups on Facebook to keep up to date with the latest money-saving and making hacks so that she could give them a try.
Bethan got involved in investing because she wanted to save pots of money where she could. She also liked some of the investment incentives such as saving £1,000 with Nutmeg which will provide you with £100 top-up from them a year later.
When it comes to encouraging more women to invest in the future, she thinks changing the concept of finance being a male-dominated environment will help women invest in the future.
Bethan said: “The last 18 months have been a journey. I do paid market research which I like as I can talk and give my own opinion.
“You can do it on a plethora of topics from website opinions to biomass as an energy option.
“I do surveys and testing apps and websites – those are the main things – it’s been lucrative. I also do bank switches and I’ve become quite good at that.”
Bethan explained that any money she makes from market research will be squirrelled away so she has more money to put in savings accounts or investment accounts like her stocks and shares ISA.
She continued: “I can’t remember when interest rates were this high at six to seven percent so those are the main things.
“Each month my income can vary, on average I make up to £500 each month on top of my job. Last month I made over £1,000 and that was with the bank switches.”
She encouraged savers that her methods are sustainable, however, “the caveat” is that people need to be committed.
Bethan said: “You get an email about paid market research, but you have to be willing to search for things, join Facebook groups, fill out applications and it can be tedious.
“But once you get accepted and you experience wins, it’s all worth it. It’s doable.
“I like to make sure I have things in place just in place. I’ve been in positions in the past before I met my husband where I’ve had to take in lodgers to make ends meet and I don’t ever want to go back to that.”
Fidelity International’s research reveals 32 percent of women say their fear of risk is one of the most significant barriers to them either starting to invest or contributing further sums to their portfolio, however this could present further obstacles for many women when it comes to their finances.
Their concern is that women’s more cautious approach to investing could result in them missing out on potentially valuable gains from long-term investment growth.
Despite the challenges women face, the research highlights that many are gaining confidence in managing their money and financial engagement has increased over the last five years, through both necessity and choice.
It should be noted that with investing comes risk, people may get back less than what they put in.
For tailored advice, Britons can speak with a financial advisor.
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