Here are 12 easy ways to give your bank account a boost.
1. Sell stuff online
You don’t need to go to the hassle of holding a car boot or garage sale to make some extra money; there are plenty of websites that will do the hard work for you.
eBay.com is the best-known online auction site. You get 20 free listings a month, but you’ll have to give up 10% of the final sale price to use its service.
If you have specific items you want to sell, such as unwanted CDs or DVDs, there are specific sites, such as musicmagpie.co.uk. Alternatively, try webuybooks.co.uk for books, or marketplace.asos.com for clothes.
If the particular site you use has a smartphone app, download this to keep track of your sales on-the-go.
Got an unwanted gift card? Sell it on zeek.me at a discount, typically 10%. You pay an admin fee of 7% (minimum £3) of the value and get paid around 14 days after the card is sold. A good place to buy discounted gift cards, too.
Avoid scams on eBay with our guide
If you have friends or neighbours with young children, they might be willing to pay you small extra sums to look after them for the odd evening or night.
It might be a stretch to charge family for the same service. As a starting point, check out childcare.co.uk for local parents looking for babysitters.
3. Rent out your parking space
Spare parking spaces can be valuable, particularly in big cities.
If you have a spare driveway or garage, try advertising it on parkonmydrive.com, parklet.co.uk, or justpark.com. You can rent by the day or longer-term.
Proud car owners might be seeking a safe spot to leave their flash wheels, or hard-pressed commuters might be looking for somewhere close to the station, for example - either way, you'll end up making extra money from a space you wouldn't otherwise be using.
How to make extra money renting your drive
4. Do market research
You can offer to give customer feedback on a product or campaign before launch in return for a small fee.
Register at peopleforresearch.co.uk or researchopinions.co.uk. You can earn up to around £50 an hour, although you’ll need to fit the exact criteria to take part.
5. Let your storage space
Do you have a spare loft space, or shed? Or maybe a basement or garage?
There are always people looking to store large items such as furniture but hope to avoid paying hefty professional storage space fees.
For a cut of the proceeds, you can advertise your space on storemates.co.uk and sharemystorage.com. For example, you’d earn around £15 a week on average for letting a 100 square foot loft.
Earn money renting your home to film and TV companies
6. Use cashback credit cards
You can earn hundreds of pounds a year in cashback by using the right credit cards. Check out comparison websites such as moneyfacts.co.uk and moneysavingexpert.co.uk for details.
Supermarkets and department store cards are also worth checking out. They might offer discounts in the form of vouchers when you spend.
Or well-known schemes, such as Tesco Clubcard and Nectar, enable you to rack up points to put towards experiences, goods, or meals out.
7. Become a dog walker
Are there lots of dog owners around your area? If you are self-employed or retired, you could offer your services as a dog walker.
You could even walk several at the same time to earn extra money and make things more time-efficient.
However, make sure you stick to local park and council rules. You might have to get a professional licence.
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8. Claim any grants
Are you entitled to the Warm Home Discount, for example? Lots of UK grants go unclaimed that are aimed at the vulnerable, elderly, or those on lower incomes. Contact the government’s Energy Saving Trust on 0300 123 1234 for advice and information.
To find out what other help might be on offer try the website entitledto.co.uk. You may be surprised to find there are benefits you aren’t aware of. Some of the most common unclaimed benefits include council tax benefit, housing benefit and pension credit.
Read our guide to the benefits you may be entitled to in retirement
9. Become a tutor
If you can play a musical instrument, or speak another language, perhaps you could teach others.
You can earn around £40 an hour by working as a private tutor to young children or students keen to learn another skill.
For more information on making extra money via private tuition, go to thetutorwebsite.co.uk.
Plus it can be a good way to keep the brain ticking over while earning extra income if you’re retired, with the added bonus of reigniting that hobby you once had.
Retraining as a teacher after 50
10. Share your car
If you are planning to make a long journey and have space in your car or you simply fancy a bit of company on your regular commute, try blablacar.com.
It’s a bit like modern day hitch-hiking, enabling you to advertise a particular journey to share costs.
Car share to cut the cost of motoring
11. Use the rent-a-room allowance
Under this scheme, you can earn up to £7,500 a year tax-free.
If the yearly rent goes over this sum, you’ll need to complete a tax return and pay any tax owed.
However, it’s a worthwhile way to significantly boost your income for anyone with a room to let.
Find out more about the pros and cons of getting a lodger
12. Get the best savings rates
While savings rates remain in the doldrums, it’s always worth ensuring you’re being paid the most interest possible. You may find your savings are languishing on rates at low as 0.25%.
Check out comparison sites such as moneyfacts.co.uk to make sure you’re on the best deal.
For more information on ISAs as an alternative saving option, please click here.