With the Cost of Living crisis, many people are having to think of smart ways to make and save money. Many people have 'side hustles', which means they have alternative ways of making money outside their main job.
One woman has shared how she can make £30-50 a month just by renting out her parking space. Christine Pearl, who has a large parking space in in Cambridge, rents it out on the YourParkingSpace website.
Christine, who has been using the website to rent out her space since 2018, can make as much as £600 with the low-effort side hustle.
She explained to YourParkingSpace: "A friend of mine told me about it – it seemed like a simple idea with very little effort involved.
"My main aim was to make some extra money as I was doing small part-time administration jobs being paid hourly, so the idea of making a small income but not actually having to do anything seemed like a lightbulb moment."
Every time a car parked on her driveway she felt like she had "won a prize", and she added: "I couldn't help thinking about the dull admin task I had just undertaken in the same hour and all I had to do was look at a car in front of my house for the same amount of money".
In addition to renting out her parking space, Caroline has also started a business selling vintage things online. Earning money from renting out her space means she can buy "lots of items at auction", which generates even more online.
Caroline thinks her parking space is popular because the city "has very expensive parking or offers residential parking only".
She added: "I typically generate £30-£50 a month and made over a few hundred pounds in 2022, but anything over £0 is a bonus to me since I'm normally paid hourly.
"I would recommend renting out your space as there is no need to have a big driveway, just one parking space. You can monetise an empty space for minimal effort."
Caroline recommends assessing your parking space and making sure it's "clear and easy for someone to park in". She added: "Don't dismiss it if you are not near a town centre - people always need parking to go to concerts, schools, universities, hospitals, meetings, transport links and many more! Use this to your advantage – think local amenities not just central."
Harrison Woods, CEO at YourParkingSpace added: "The cost of living crisis has never been more of an issue, with bills, food, and car parking charges rising in certain areas across the UK.
While it is well known that having a driveway or a parking space in a great location can add value to a property, many people are choosing to take advantage of their spaces by renting them out in order to make some extra income.
"If you’re looking to list your space for free, head to YourParkingSpace website."
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