Side Hustles / Passive Income

[stubbo-admin]

Anyone dabbling in side hustles, attempting passive income etc?

Any success stories?

About to start trying to flog some aquatic plants/sourcing some miltipack items, breaking them up and selling on eBay, and maybe creating some Etsy Printables. 

No idea if any of it will work but nothing ventured, nothing gained. 

Anyone else got any money making schemes on the side?

[WHU(Exeter)]

I remember hearing a bloke on the radio who had tons of comics that were worth a bomb. He said he went away for a weekend in his teens, and his Mum did a thorough clean of his room, including thoughtfully punching holes through all his comics and putting them in ring binders. Bang went 80% of his nest egg money.

 

[Jasnik]

All the programs I had all got water damage when the basement flooded was gutted.
still have a few but my most important one is my first game. 
Probably not worth anything to me it is priceless.

Also the stuff when the kids were mascots.

 

[stubbo-admin]

I’ve got an old Hull Vs West Ham programme from the  sixties. You can have it for a grand.

Ag

[Gank]

I’ve got an old Hull Vs West Ham programme from the  sixties. You can have it for a grand.

[Colchester Sid]

Well £1500 selling 2 a week is £1500/8 = £187.50 average a programme so yes that's about right

According to the HMRC online tool because none of these were bought to make a profit and none have been sold individually for more than £6000 there's no income tax or CGT to pay

[Mr Anon]

They all fit in to a 25 square foot room - it's quality not quantity and most weeks I'll only sell a couple of programmes

You're making £375 a programme?

[Hello Mrs. Jones]

I may need to get a second job as I'm spending an inordinate amount of money on Colchester Sid's programes!

[Westside]

"I make about £1,500 a month selling football programmes on eBay. Been doing it for four years and got enough to keep selling at that level for another 10 years or so (which is when my state pension gets added to my work pension)

Because it's all personal possessions and nothing over £6,000 it's tax free as well."

How can £1,500 a month not be over £6,000 annually, unless you are doing it for 4 months or less?

The £6,000 Capital Gains Tax exemption on personal possessions is now £3,000 (from 06/04/24).

And it would seem to me you are trading, which only has a £1,000 tax free limit as a side line. Ebay and other platforms, now forced to share sales data with HMRC.
https://www.independent.co.uk/life-styl ... 74542.html

 

[Bouncing Ludo]

When I cleared my dads house there were suitcases of programmes for all London teams but mostly Millwall and West Ham that he, his 3 brothers and Dad had collected over the years,

Millwall 1930's programmes went for £100-£200 a pop on ebay. Also had a load of other Millwall membership memorabilia, from the 30's that went for an absolute fortune

Arsenal wartime stuff, when Stanley Matthews turned out for them was also very popular

Best West Ham one was the 1949 Celtic Friendly played on a Monday afternoon, went for £210 on ebay

Football programmes pre 1961 are generally going to make more money, but 30's stuff is quite rare. I found the  1935 silver jubilee cup final programme, and when I opened it, the tickets were still inside, then I found the community songsheet to go with it. Think that was the most expensive I sold.

Old newspapers were also collected by my family and the Titanic special edition of one paper sold for close to £100

[Mike Oxsaw]

They all fit in to a 25 square foot room - it's quality not quantity and most weeks I'll only sell a couple of programmes

 

 

I built up a massive collection of West Ham home game programmes over the years.

Aside from all the games I went to, I always managed to find a few each match-day from a seller almost opposite the ground, many for games before I started going.

When I moved to my first house, didn't really have any room for them so I gave them all to the son of a neighbour who "liked" West Ham.

He was an island as Radlett was one of either Spurs, Arsenal or (the local team) Watford.  Oh, and one person who supported QPR on account of that was his local team when growing up.

My hope was that the gift triggered him into more than just "liking" the club, but I never found out.

[Rossal]

Sid, do you have a website? 

We are in process of selling my late Nan's house.....my grandad had a suitcase full of programmes mainly from the 60s 70s 80s upstairs..... mainly Orient Charlton and Millwall I think. But keen to gauge a estimate of values etc to find them a good home 

[Colchester Sid]

They all fit in to a 25 square foot room - it's quality not quantity and most weeks I'll only sell a couple of programmes

[WHU(Exeter)]

Sid, it’s a shame that a lot of non-league clubs have stopped producing them altogether.

Still got all my programmes, plus my Dad’s collection as well.

I shudder when I see some of the prices for vinyl, especially ones I sold for a few quid twenty years back. A couple of mates make a few hundred per month with vinyl, but not in your league with the programmes.

[wils]

I make about £1,500 a month selling football programmes on eBay. Been doing it for four years and got enough to keep selling at that level for another 10 years or so (which is when my state pension gets added to my work pension)

Because it's all personal possessions and nothing over £6,000 it's tax free as well

That's impressive. You must have acquired a warehouse full of programmes to be able to sell at that rate for 14 years!

[Colchester Sid]

I make about £1,500 a month selling football programmes on eBay. Been doing it for four years and got enough to keep selling at that level for another 10 years or so (which is when my state pension gets added to my work pension)

Because it's all personal possessions and nothing over £6,000 it's tax free as well

[Tomshardware]

Last year I earned some extra money repainting some football figures in different kits to what they were originally issued in.  I quite enjoyed doing it for a while but then my main job got busy again.  

[Moncurs Putting Iron]

And there's the thing. 

If your sid hustle or 2nd job is something you are passionate about and enjoy then its a hobby with benefits as you are getting paid AND reducing the income you need to spend on not being bored or repairing the damage that your job is doing to your soul.

Anything else is just going to be work on top of your work.

[Lee Trundle]

Of course trading is gambling.

If you were in any way good at it, then you wouldn't be working another job.

[Sydney_Iron]

Should add in that football example that the return on a Spurs win will be a lot lower than the return on the West Ham win, the draw somewhere in between but the bookies will set the odds that they have the edge, no matter the outcome, perhaps limiting the loss on the Spurs win as that's maybe the favourites outcome, but a draw or West Ham win would see them be well in the money so in many ways they are doing what the trader in the futures or currency markets is trying to do put the odds in their favour ever so slightly as its that small margin that makes the difference in the long run! in the upcoming round of fixtures bookies wont make money on every result, but the basket of results is what matters not the individual.........

[goose]

Trading isn't a side hustle, it's a full time job better left to the experts. They have the advantage in everything, very much like gambling where the house always wins.

Investing is a side hustle but requires patience and consistency, which lost of people do not have. Time & compounding are your best friend.

[Sydney_Iron]

"That is the very principle of gambling...opening a position on an unknown but suspected outcom4e that if it works for you makes you some money and if it doesn't you lose some money"

Yes and NO! Get what your saying and that may apply to the trader who just uses his analysis of the fundamental's of the markets just as the punter at the races looks at the form but coming up with a trading strategy as a mechanical trader is very different and often involves a lot of back testing with data, sometimes i would run simulations looking at a specific set up i had come up with on 20 years worth of date, now granted what happened in the past may not happen in the future but its about as close as you can get to what to expect (over 1000,s of trades) and gives me a slight edge or advantage over the straight out punt? Markets are also always evolving though so what may work for years may gradually loses its edge, as happened to me, 

Nothing in life has any certainty really if you think about it, so is it all a gamble? 

Gambling to me is a punt, i reckon West Ham will beats Spurs this weekend, i dont have any "edge" on that and when you break it down its a 33.3% chance at best the other 33.3% are Spurs win the last 33.3% its the draw, the bookies will have the odds in a way that you could cover all the outcomes but would lose money, Trading aims to do the opposite, give the trader that slight edge with the back tested strategy and risk management, also in trading your not placing bets with an organisation like Ladbrokes giving you the odds, i take a trade then its with another trader, every contract has a buyer and seller and made through a broker and the exchange who make there money on the brokerage paid and NOT the outcome of the trade, if i make $100, then other party loses $100.

That's about as best as i could explain it,........

[Council Scum]

I have a second income, I effectively work two jobs. Wouldn't change it for the world, as I love both jobs I do. 

[stubbo-admin]

Stubbo, re Trading is Gambling.......

Would disagree 100% on that! Trading is actually about risk management more than anything else,………when I traded full time most of my trades actually lost money but that didn’t matter so much it was risk verses reward that I focused on, and running at about only 34% of the trades I made would yield a profit! Traders who get near 50% of trades right and risk reward of 3-1 or better would be the equivalent of Premier league in the trading world.

Think of it this simple way if you risk $1 to make $3 and your only right on 30% of the time, then your averaging every 10 trades 7 losses of $1, so $7 in total BUT 3 winning trades of $3  so $9 in total, $9 minus $7 is $2, bingo you’re a profitable trader!

Bit more to it than just that but in a nutshell that’s all you need to make money.

Oh and Mike is right, Trading can became an addiction just like anything else, and aint for the faint hearted that's for sure, when its your own money on the line adds a whole level of stress the institutional traders didn't have to contend with as it was firms money, mind you getting fired unless you turned a profit was always on the cards, burnout was/is high at all levels of trading.

But how do you make the judgement/determination of risk?  E.g. currency pairs...can go in your favour or against.  You make a judgement based on perceived understanding of the market, assume a position, and then stake an amount.  That is the very principle of gambling...opening a position on an unknown but suspected outcom4e that if it works for you makes you some money and if it doesn't you lose some money.  That you wrap it in a process and with a strategy both around selecting opportunities and minimising down size doesn't stop it from being a punt each time you open a position.

Maybe we have different definitions of what gambling means.  To be clear I've dabbled in this (pre-off horse race trading on Betfair), and yes it's not traditional gambling like joe punter in the street, but it's still gambling fundamentally.

[Sydney_Iron]

Stubbo, re Trading is Gambling.......

Would disagree 100% on that! Trading is actually about risk management more than anything else,………when I traded full time most of my trades actually lost money but that didn’t matter so much it was risk verses reward that I focused on, and running at about only 34% of the trades I made would yield a profit! Traders who get near 50% of trades right and risk reward of 3-1 or better would be the equivalent of Premier league in the trading world.

Think of it this simple way if you risk $1 to make $3 and your only right on 30% of the time, then your averaging every 10 trades 7 losses of $1, so $7 in total BUT 3 winning trades of $3  so $9 in total, $9 minus $7 is $2, bingo you’re a profitable trader!

Bit more to it than just that but in a nutshell that’s all you need to make money.

Oh and Mike is right, Trading can became an addiction just like anything else, and aint for the faint hearted that's for sure, when its your own money on the line adds a whole level of stress the institutional traders didn't have to contend with as it was firms money, mind you getting fired unless you turned a profit was always on the cards, burnout was/is high at all levels of trading.

[BRANDED]

Everything is a gamble. Which fork to take in the road, which house to buy, which lady to take as your wife, which profession to go into, which car to own.

there are few sure bets that beat marrying money.