Jasmine Birtles
Your money-making expert. Financial journalist, TV and radio personality.
Make money from your friends
Hanna Duggal
10th Mar 2020
A great, sociable way to earn money is by getting your friends involved. There’s an abundance of ways your friends can help you put some extra cash in your pocket. Consider the following ways:
Referring friends
There are multiple ways you can make money via referrals, from referring friends on Uber to introducing them to the marketplace. With these simple referrals you could earn a significant amount of money.
How do I do it?
It’s really easy to refer friends to websites and apps such as Uber and Airbnb. You simply send a link to your friends from the website/app and wait for them to book their free ride or make their first booking.
eToro, an investment marketplace for people to trade commodities, currencies and more, has set up a competitive referral scheme where referring friends can earn you money. To refer a friend simply log into your eToro account, type in your friends’ emails and click the invite button. Similar schemes exist with companies such as finance specialists Hargreaves Lansdown.
What else do I need to think about?
Usually for you to be able to earn from referrals your friends have to either make a booking or investment with the given company.
How much could I make?
On Airbnb you can earn £15 by referring a friend who decides to travel, and £55 when they host. For every friend you refer on eToro you can make $100 once they have deposited upwards of $200.
Host selling parties for friends
Hosting selling parties is a fun and sociable method of earning some cash from your friends. This is especially good if you’re a working mum or dad and require flexible hours.
How do I do it?
There are many things you can sell at home, from household appliances to makeup. For example, The Body Shop at Home allows you to host a party by registering on the website. Once you’re registered, a local consultant will get in touch to help you set up your first hosting party. Additionally, freebies and offers are available to hosts that aren’t usually found in-store or online. There are a host of different companies with direct selling programmes.
What else do I need to think about?
The amount of money you will make is directly linked to your hosting and selling ability. Some companies may also require you to pay a start-up fee, and you may have to deliver goods.
How much could I make?
It’s hard to predict, but with Body Shop at Home you’ll earn 25% commission on everything you sell.
Making and selling with friends
Expert baker, or have a knack for pottery? Selling your homemade goods to friends is not only a way to make money, but also a chance to show off your skills.
How do I do it?
Consider what you would like to make and sell. For example, you could bake some cakes and sell them outside your local school to parents picking up their children. You could also use social media to sell homemade items such as pottery. Taking photos of your creation and posting on Instagram with a selling price is a good way to get your friends to consider buying some of your work.
What else do I need to think about?
If you’re planning to sell cakes outside a school it’s a good idea to contact the school to avoid running into any trouble.
How much could I make?
This depends on how much it costs you to make your items and how much you wish to sell them for. However, try to be reasonable with your prices.
Selling your friends cuttings from your garden
Making the most of your garden can also mean making some extra cash by selling cuttings to your friends.
How do I do it?
You may have a surplus of garlic bulbs, or you could have fresh lavender growing in your garden. Next time your friends are around why not lure them into your garden and use your charm to sell some of your home-grown crops? You might also consider growing more exotic plants in your garden, which you can then sell on to your friends.
What else do I need to think about?
If the weather is poor, your ability to grow and sell may suffer.
How much could I make?
The best way to know how much you could earn is to compare what you’re looking to sell to local prices and set your selling cost from there.
Networking with friends
The age old saying: ‘it’s not what you know, but who you know’ does have some element of truth to it. Consider attending networking events with your friends to see if you could land a new job.
How do I do it?
The chances are we all have a friend who has a dream job in a dream industry that we’d like to break into. Asking your friend to bring you along to a work party or event is the perfect opportunity to network and be introduced to an environment you aspire to work in.
Networking can seem stressful, however the possibilities of beginning a new career or receiving advice are priceless. Once you’re at the event, get your friend to introduce you to various people in the room. There are also a host of networking events on meetup.com, which you can take your friend along to if you are nervous.
Another way to network is online. Try connecting with friends of friends on websites such as LinkedIn.
What else do I need to think about?
Don’t forget to bring your business card! It’s always good to remember names too.
How much could I make?
Well, you probably won’t make any money upfront – but you could find yourself a new job with great perks.
Utilising your friends when looking for ways to make money can be fun and sociable. Don’t shy away from the opportunity to do so!
Now read:
- Knitting for money: earn from making, teaching and selling
- Rent your garden as allotments
- 9 great ways to make money from your living room and bedroom
- Make money chatting to friends
Referring friends is a useful tip to use.