How I made £4k tax free in the last 12 month (2024)

Lets Talk Money

Christmas is coming round quickly and lots of us are probably thinking about the costs that come with the big day itself (Ethan has his eyes on a Lego set which is £200, even Santa isn’t that rich!) however what if I said there is a way to make a bit of extra cash that is risk free and you can do it from home?

Good news there is a way to do just that!

Regular readers of the blog may have already read my blog post on matched betting and whether I thought it would really work or if it was a scam.

However we have just past our 12 month matched betting anniversary and I thought I would share how we’re got on.

After starting with a small pot and signing up to Profit Accumulator to try out their 2 free offers, I continued on cautiously before signing up for a years subscription to them. Since then we haven’t looked back!

Unfortunately I am unable to bet during the day due to work however I make the most of the football offers in the evening or at weekends.

Do you want to know the best bit? Even with my hours limited to what I can put in and taking a few months break at the end of last year, we have managed to earn over £4000 tax free. So from my starting pot of £130 I have made a return of over 3000%!

All risk free and tax free.

I have had lots of questions on matched betting since I started and I honestly wouldn’t share my thoughts if I didn’t believe it really worked. These are some of the points I have come to the conclusion of :

  • You can make a comfortable £400 – £600 a month on part time hours, this is great as even on just £400 that is an additional £4800 a year for your household. However it won’t flood in straight away if you have a small starting pot. For me it took a few months to really get going as I had to move my money around waiting for withdrawals but be patient, you will get there!
  • Don’t risk your money on a gamble – Yes wouldn’t it be lovely to win £10k on a slot or a few extra 100’s on a bet which you haven’t layed against but don’t! Just think how much money you will be losing if you place the odd £5 bet here or £5 worth of spins there.
  • Read the instructions! – Profit Accumulator give you the step by step instructions on what markets to bet on and the odds you need to be betting on, don’t make silly mistakes by not reading.
  • Take your time – Don’t rush to get the offers done, this can lead to silly mistakes which can become costly. I have taken the attitude of this is additional money and anything extra is great. This way I have slowed down on the speed of my offers and concentrated on the offers with the better rewards.
  • Try not to spend your earnings – If you can help it, for the first few months try not to touch what you have earnt. For lots of people they seem to think that £2000 is a good pot to make a regular income from and it is easy to see why with the amount of bets you can put on. Because of this I decided not to touch our pot apart from emergencies, this has allowed me to do more offers without waiting for withdrawals.

For us it has given us a little nest egg for this year which has been great as it has been really tough for us this financially but knowing that money is there is great, what’s more though each month it gets added to a little at a time so its just growing.

So if you would like to find a way to earn a little extra money at home, why not give their 2 starter offers a go. You only need a small pot to get started and as long as you follow the steps it is risk free, then if you decide not to carry on, you’ve made a little extra money for Christmas!

If you do give it a go, come back and let me know how you’ve got on!

How I made £4k tax free in the last 12 month (2)

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How I made £4k tax free in the last 12 month (2024)

FAQs

How much money do I need to invest to make $4000 a month? ›

Making $4,000 a month based on your investments alone is not a small feat. For example, if you have an investment or combination of investments with a 9.5% yield, you would have to invest $500,000 or more potentially. This is a high amount, but could almost guarantee you a $4,000 monthly dividend income.

How to make $10,000 a month in passive income? ›

Surya Prakash
  1. The Top 11 Ways to Earn $10,000 in Passive Income Each Month : Make Money Online. ...
  2. Dropshipping: The Gateway to E-Commerce. ...
  3. Using Endorsem*nts to Earn Through Affiliate Marketing. ...
  4. Etsy Print on Demand: Innovation Meets Business. ...
  5. Real estate crowdfunding. ...
  6. Creating and selling digital products.
Feb 10, 2024

Can I file taxes if I only made $4,000? ›

So as long as you earned income, there is no minimum to file taxes in California. It is a good idea to talk with a tax professional to determine your filing status and whether you are required to file or could benefit from doing so anyway.

Is 4k monthly salary good? ›

As I mentioned in the intro, making $4k a month is a massive amount of money. For many people, it's enough to match or surpass their day job, which can be a life-changing event!

How much money do I need to invest to make $1,000 a month? ›

A stock portfolio focused on dividends can generate $1,000 per month or more in perpetual passive income, Mircea Iosif wrote on Medium. “For example, at a 4% dividend yield, you would need a portfolio worth $300,000.

How much money do I need to invest to make $3,000 a month? ›

Imagine you wish to amass $3000 monthly from your investments, amounting to $36,000 annually. If you park your funds in a savings account offering a 2% annual interest rate, you'd need to inject roughly $1.8 million into the account.

Do I need to file taxes if I made 4K? ›

For those filing single status, there are two thresholds. If you're under the age of 65, you should file taxes if you made $12,950 or more in 2023. Filers who are 65 or older should file taxes if they made $14,700 or more.

What is the maximum income you can make without filing taxes? ›

Tax Year 2022 Filing Thresholds by Filing Status
Filing StatusTaxpayer age at the end of 2022A taxpayer must file a return if their gross income was at least:
singleunder 65$12,950
single65 or older$14,700
head of householdunder 65$19,400
head of household65 or older$21,150
6 more rows

Does Social Security count as income? ›

You report the taxable portion of your social security benefits on line 6b of Form 1040 or Form 1040-SR. Your benefits may be taxable if the total of (1) one-half of your benefits, plus (2) all of your other income, including tax-exempt interest, is greater than the base amount for your filing status.

How to make 4K a month from home? ›

jobs making $4000 a month jobs in remote
  1. Accounts Receivable Accountant. ...
  2. Licensed Clinical Social Worker (LCSW) (No Associates) ...
  3. Licensed Clinical Mental Health Counselor (LCMHC) (No Associates) ...
  4. Football Scout. ...
  5. Sales Representative. ...
  6. Strengthen your profile. ...
  7. Staff Accountant & Bookkeeper.

What is 4K monthly to Yearly? ›

$4,000 a month is how much a year? If you make $4,000 a month, your yearly salary would be $48,006.40.

What is a good salary in 2024? ›

Key Findings. On average, an individual needs $96,500 for sustainable comfort in a major U.S. city. This includes being able to pay off debt and invest for the future.

How much invested to make $5,000 a month? ›

To generate $5,000 per month in dividends, you would need a portfolio value of approximately $1 million invested in stocks with an average dividend yield of 5%. For example, Johnson & Johnson stock currently yields 2.7% annually.

How much do I need to invest a month to become a millionaire? ›

If you are starting from scratch, you will need to invest about $4,757 at the end of every month for 10 years. Suppose you already have $100,000. Then you will only need $3,390 at the end of every month to become a millionaire in 10 years.

How to passively make $5,000 a month? ›

If you like the idea of earning passive income, one idea to make $5,000 per month is to rent out things for money. This is probably the best option if you're very busy with your job and don't have time to start a new side hustle. You can essentially let your assets make money for you so you're earning on autopilot.

How much money do I need to invest to make $2 000 a month? ›

Earning $2,000 in monthly passive income sounds unbelievable but is achievable through dividend investing. However, the investment amount required to produce the desired income is considerable. To make $2,000 in dividend income, the investment amount and rate of return must be $400,000 and 6%, respectively.

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