May 2021 Easy Income Report

Around 6 weeks ago I came to the conclusion that I needed a little extra money. I searched the internet for ideas and found a subreddit called beermoneyuk that had some good content.

Since then I’ve been using the tips and offers that appear in the subreddit to make some money.

Here is my extra earnings report for May 2021.

Total additional income £536.80

Breakdown

  • £125 – Invest Engine
  • £100 – Raindrop
  • £100 – DScout
  • £50 – Tide
  • £34 – Coinbase
  • £30 – Igloo Energy
  • £25 – Trustpilot
  • £25 – Penfold
  • £19 – Prolific
  • £13 – Tickr
  • £11 – Bitpanda
  • £4.80 – Freetrade

Details

As I’m pretty new to this I started in the wrong places. I started playing around with survey sites and after some incredibly dull and time consuming surveys I decided to find another way, so here’s what worked.

Please note there will be some affiliate/referral links included below so that you can get the same deals that I did.

Invest Engine

Invest Engine were offering a £75 top up if I was willing to put £100 of my own money in one of their investment accounts for a year.

For a 75% return I was more than happy to do that. Money sitting in a bank account is doing nothing (sub 0.5% interest) so I set up my account and Invest Engine credited my account pretty quickly.

Since setting up my account I’ve made two referrals to Invest Engine netting me an additional £25 each. You can make a maximum of 5 referrals which would get you an additional £125.

Total return £125.

Note: All my referrals codes were used up on this offer, if you would like to get involved I’d suggest heading over to this post on the beermoneyuk subreddit to find a user that still has some available.

Raindrop

Raindrop are a pension provider that were offering to add £50 if I set up an account with them. The best part is that I only had to put £1 of my own money in to get the bonus.

Setting up my account was easy enough but Raindrop have been really slow to credit my account and haven’t yet added the £50. I did speak to customer service though and they told me it would be going through in the next week or so.

I’m expecting another £50 on top of the £50 bonus as I referred a friend to this deal. Whether this happens or not I do not know as there is no way to track referrals on Raindrops dashboard (annoyingly).

Total return £100 (hopefully).

Note: It looks like the Raindrop offer finished at the end of May. If you are interested in earning some free pension money, check out my post Get A Free £75 In Your Pension Pot

DScout

I found an app called Dscout where researchers are looking for users to talk to about new products. I applied for everything that seemed relevant and had no interest at all. Then, through persistence I got chosen to participate in a recorded hour long session for $75. 

The session was easy enough and I’ve since completed a second for the same money.

For the sake of ease, I’m classing $75USD as £50GBP (it’s close enough).

Total return £100

Tide

Another simple banking opportunity. Create a new business bank account with Tide and add £50 and they’ll add the same. Luckily I’m self-employed which means opening up another business account is all good.

So far I’ve added my £50 but Tide haven’t added theirs. Hoping this is just a formality as I’ve read they tend to take their time, I’m happy enough to wait though.

If you’d like to take advantage of this one you can use the referral code XEDW6L when signing up

Total return £50

Coinbase

My initial foray into crypto coincided with it’s all time high. Following a 50% loss I ran away with my tail between my legs and all but closed my Coinbase account. 

Three years later crypto is (or should that be was) booming again and my interest has piqued. I jumped into my Coinbase account and found they were giving away various cryptocurrencies for answering a few questions. I took the quizzes and pocketed £34 in various cryptocurrencies. Not bad for answering a few easy questions.

This is quite literally free money and can be withdrawn pretty quickly. I choose to leave mine in as a bit of a punt on crypto.

Total return £34

Igloo Energy

This was another lucky one. I’ve recently switched my Santander 123 account to a 123 lite account (lower fees) and wanted to change my direct debit from my current account (Natwest) to the new lite account in order to get the cashback that Santander offer.

For some reason Igloo were all over the shop in answering my emails and I ended up complaining. As a gesture of Goodwill Igloo ended up offering me £30 either sent to my bank account or in credit on my energy account. Lucky, but I’ll take it.

The good thing with Igloo is (despite the poor customer service here) that they are the cheapest provider for me so I’m happy to stay with them. If you do want to join Igloo you can get a free £50.

Total return £30

Trustpilot

Ok I got lucky here. I was on Turstpilot’s website and a popup appeared asking if I would be willing to answer a few questions about my most recent purchase in return for a £25 Amazon gift voucher. The call was 30 minutes long and was pretty straightforward, just a case of answering questions. The gift voucher came 2 days later. I was really happy with this one.

Unfortunately I can’t find a direct link to this one but it might be worth clicking a few pages on the Trustpilot site to see if it comes up for you.

Total return £25

Penfold

Another pension offer, this time from Penfold. Add £25 of your own money and they’ll put £25 in the pot. I do like a pension offer, it’s free money and it should grown over time. What I would say about pension offers is that you should keep an eye on the costs. As long as the fees are somewhere around the 0.75% mark then you should be fine.

Penfold have added their money pretty quickly, I’ll likely just leave this sat for a year or so and review then.

Even though it’s just £25, this is one of my favourite offers at the moment. It’s quick and easy.

Total return £25

Prolific

Towards the end of the month I signed up with a survey site called Prolific. From what I saw on the beermoneyuk community they were regarded as the best survey site. Fill out you profile and enter the surveys. So far it’s been ok. Most of the surveys are quite low budget (mostly they work out at an equivalent of about £6-£7/hour) and it’s not the most entertaining way to earn money but occasionally I’ll fill a few in.

Total return £21.40

Tickr

I was on a bit of an earning mission and had picked off most of the higher value opportunities. I found myself looking at Tickr, another investment platform. By adding £5 of my own money, Tickr would put £15 in the pot. Sign up was pretty quick and Tickr added their money quickly too. You need to leave the money in for 90 days and Tickr charge a fee of £1/month (first month is free) so the profit on this will likely end up being £13 after the £2 deduction.

At £1/month on an investment of around £20 it’s way too expensive so I’ll definitely close this account after the 90 days. Pretty low return here but it’s free so I can’t complain.

Total return £13

Bitpanda

Bitpanda are another another cryptocurrency provider. The offer was essentially to throw in €25 of your own money and they’ll add €15. I literally put my €25 in and withdrew it straight away. By the time I’d paid the fees I was left with around £11 profit. With crypto I’m pretty much just leaving the money in to see what happens. I got my initial money back so anything else is a bonus here. I bought into Cardano which I’ve heard good things about but I am absolutely no expert on cryptocurrencies.

Total return £11

Freetrade

Another easy one. Low cost investment app Freetrade offer a free mystery share when creating an account and adding just £1. Following a fast setup there was a short wait of a week to find out what share I would get.

Drum roll please… I got a share in Dr Martens for a whopping £4.80. I’m told that some people get free shares up to the value of £200 so maybe I wasn’t so lucky. Maybe you will be though.

I’ve since gone on to sell my share in Dr Martens and have bought into Royal Mail.

Total return £4.80

Conclusion

I’m really happy to have pulled £536.80 basically from thin air in a single month. It’s hard to know whether this is sustainable or there just happened to be a lot of good offers for me to take as I’m new to it. I guess we’ll find out in June.

Realistically, if I could be pulling in £200-£300 extra a month then that would be great, maybe I’ve set the bar a little bit high in May but that’s never a bad thing.

I think in June I’ll have to look at more of the cryptocurrency offers as there are a lot, they tend to be lower in value though. I’m hoping I can get a few more pension offers where the deals seem to be pretty high.