Man made redundant during lockdown shares how he saved £2,000 a month to buy first house
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With house prices rising faster than inflation it seems impossible for first-time buyers to afford a home. Mr Ruan shared how he managed to save up a substantial amount for his first family home during the lockdown despite being made redundant.
Many first-time home buyers are using side hustles and secondary income streams to afford their dream house.
And Mr Ruan seems to have the key to doing this successfully.
Working in digital support for Her Majesty’s Courts and Tribunals Services, Mr Ruan, like thousands of others, was made redundant during the pandemic.
Facing financial instability, it seemed that Mr Ruan’s dream of saving up for his first family home would have to be put on pause until the economy reopened.
However, little did he know that an advert on Facebook would quickly see his savings plans back on track.
The Londoner used Airtasker, an online job marketplace, to earn a second income by completing a few tasks everyday.
Airtaskers’ marketplace allows people to ‘shop’ for skilled individuals to help them complete tasks.
Taskers can create their own profiles and offer what types of jobs and tasks they are proficient in, such as gardening, painting and DIY.
Once a tasker has completed the job, they are payed through Airtasker Pay and given a profile rating.
This profile rating can influence one’s future job prospects on the platform and taskers with the best ratings will get higher paying gigs.
Mr Ruan’s ratings, thanks to his good work ethic and quality, has allowed him to get up to £750 for a single task.
This easy side hustle soon turned into a lucrative business and savings stream for Mr Ruan, but how did he do it?
With an estimated one in four Brits having a side hustle or earning extra cash every month, Mr Ruan is still a cut above the rest with his salary-equivalent side hustle during the summer months.
Mr Ruan admitted that the nature of his side hustle is seasonal, with work and income fluctuating depending on the time of year.
However, even in his so-called ‘slow’ months, Mr Ruan has saved up to £400.
Mr Ruan completes around three tasks every week, achieving these substantial earnings as well as building a portfolio of happy clients.
He explained that the buyers on Airtasker are willing to pay quality prices in return of quality work and added that it’s possible for taskers to get their first gig within 48 hours of setting up their profile.
Mr Ruan recommended that those looking to turn Airtasker into a lucrative income should send at least 20 applications when they first start and stay consistent and professional in their work.
Thanks to his success on Airtasker, Mr Ruan has now opened his own design business, Helius Designs.
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