Women are more likely than men to take up a side hustle to save for Christmas with 39% taking up additional activities to save money for the festive period, compared to a third of men (32%) who said they would prefer to take up a side hustle to top up their savings.

Renting out homes/rooms for holiday rentals takes the top spot as the most profitable side hustle with Brits making £2,460.31 on average.

Taxi driving is the second most profitable side hustle, earning £2,037.56 on average, closely followed by tutoring with an average of £2,034.60.

Despite almost 60% of Brits admitting they take online surveys to make extra money, this didn’t make the top ten most profitable side hustles.

In addition to saving for Christmas, other reasons people would take up a side hustle include boosting their savings (20%), paying the bills (16%) and to earn extra money to spend on non-essential purchases (16%).

Jamie Smith-Thompson, managing director of pensions advice firm Portafina, which carried out the research, said: “Christmas is an expensive time of year so it’s not surprising to see that so many Brits are taking on side hustles to earn some extra cash for the festive period.

“What’s really encouraging is that one in five Brits would most likely take up a side hustle to top up their general savings. And in these instances, it’s worth thinking about how you’re going to get the best return for your cash, after all, you’ve worked hard for it.

The ten most popular side hustles Brits are taking on are:

1. Taking online surveys
2. Selling unwanted clothes/possessions on eBay or other reseller websites.
3. Cleaning
4. Making and selling handicrafts e.g. art, cards, jewellery
5. Dog walking/pet sitting
6. Tutoring/coaching
7. Freelance writing
8. Making and selling home-baked goods
9. Affiliate marketing/brand ambassador e.g. Avon, Herbalife
10. Childcare