The Covid-19 pandemic has brought to light the amount of unpaid work that is undertaken each year. This can include childcare, cleaning, cooking and looking after elderly relatives. Moreover, a recent press release by services marketplace Airtasker has revealed that women participate in significantly more unpaid work than their male counterparts. Here, I look at how women could use that time to earn extra money by starting a side hustle.
Women do 40% more unpaid work than men!
Recent research has revealed that women do around 40% more unpaid work than men each year. Essentially, for every 20.5 hours of unpaid work done by women every week, men do just 12 hours. Typically, women are given the brunt of unpaid duties such as childcare and housework, which could explain the difference.
However, could women be using this time more productively to earn themselves an extra £8,700 per year?
How to swap unpaid work for an extra £8,700 per year
Women and men across the country could turn their unpaid working hours into a great earner by getting paid to do everyday tasks. In fact, the team at Airtasker claims that if women spent the same time on paid tasks as they do on unpaid work, they could earn up to £727 each month. That equates to £8,700 every year.
According to the company, women could earn extra cash by simply completing four tasks per week. It is worth noting that women may have to build up their skillset before being able to charge the higher rates that will equate to this amount of extra cash. However, it is possible for anyone to gain experience and start charging high rates for everyday tasks.
Everyday tasks that could be turned into a side hustle
Many women are sitting on potential goldmines by not charging for tasks that they do every single day. If you’re in need of some side hustle inspiration, here are some everyday tasks that could easily become money-earners.
House sitting
If you own your own home or have ever spent time living by yourself, you probably know a thing or two about looking after a property. You could monetise this skill by advertising house sitting services to homeowners who are looking to get away and need someone to keep their home safe while they’re gone.
Child care
Babysitting and other childcare services are always in high demand. As a result, if you have some experience with children and can sacrifice a few hours a week, you may be able to make a decent side income by looking after other people’s kids! This is a great option for mums who may be able to get paid for tasks that they already do every day.
Grocery shopping
Some people are unable to get to the shops to buy groceries each week. As a result, many are willing to pay others to do this task for them. Grocery shopping is a fairly simple side hustle to do, and you probably already have plenty of experience!
Dog walking
What better way to make some extra cash than to spend time with dogs? Dog walking is a fantastic side earner that is easy to fit into your daily routine. You could integrate a dog walk with the school run or maybe use it as an excuse to take a break from other work!
How to boost your extra earnings
Getting paid to do everyday tasks is a great way to start making money in your unpaid hours. Furthermore, you could boost your earnings by investing what you make in a stocks and shares ISA.
Stocks and Shares ISAs allow you to invest up to £20,000 per tax year and earn dividends from your investments. The returns on these ISAs are often much higher than regular savings accounts. This makes them a great way to increase your personal wealth. However, it is worth noting that investing in a stocks and shares ISA comes with a level of risk. Always do your research before making any investment decisions.
Don’t leave it until the last minute: get your ISA sorted now!
If you’re looking to invest in shares, ETFs or funds, then opening a Stocks and Shares ISA could be a great choice. Shelter up to £20,000 this tax year from the Taxman, there’s no UK income tax or capital gains to pay any potential profits.
Our Motley Fool experts have reviewed and ranked some of the top Stocks and Shares ISAs available, to help you pick.
Investments involve various risks, and you may get back less than you put in. Tax benefits depend on individual circumstances and tax rules, which could change.
Was this article helpful?
YesNo
About the author
Ruby is a freelance writer who enjoys writing about all things personal finance. After embarking on her own side hustle journey three years ago, Ruby is passionate about helping others to learn about the ins and outs of persona… Read More
Some offers on The Motley Fool UK site are from our partners — it’s how we make money and keep this site going. But does that impact our ratings? Nope. Our commitment is to you. If a product isn’t any good, our rating will reflect that, or we won’t list it at all. Also, while we aim to feature the best products available, we do not review every product on the market. Learn more here. The statements above are The Motley Fool’s alone and have not been provided or endorsed by bank advertisers. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool UK has recommended Barclays, Hargreaves Lansdown, HSBC Holdings, Lloyds Banking Group, Mastercard, and Tesco.
