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Money saving

5 ways to earn extra money

Posted 27 September 2016 by Christine Walsh

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Here are 5 unusual, fun and easy ways to make some extra cash.

We can all find ourselves in need of some extra cash every now and then. Perhaps you’ve just received an unexpected bill, or maybe there are a couple of birthdays coming up in your family that slipped your mind. 

If your pockets are in need of a few extra pennies, we’ve got some ideas that should help. Here are 5 ways to make a little extra cash – they’re easy to do and might just come to the rescue when you really need them. 

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Get paid for your opinion

You can also earn a bit of cash simply by using a product or service and giving your opinion. Lots of companies pay regular people to give them valuable feedback on what they do. After all, it’s a good way of ironing out any problems before they try and attract real customers. 

i-Say needs people to complete surveys, and pays its members with cash and vouchers for major retailers like Amazon and John Lewis. Focus4People pays people to be part of focus groups – focus groups are just a select group of people brought together to discuss and review a product before it’s launched. 

Get paid for your unwanted clothes, dvds, cds and mobile phones 

Got a wardrobe full of unwanted clothes? Make sure you don’t just throw them out – you might be able to get some cash for them. There are a few companies and shops that will pay you by the kilo for your clothes. 

Now that more and more people are choosing to stream and download music and films, there might be a few of you that have old and unused dvds and cds. Don’t just let them gather dust taking up shelf space, sell them on a site like Music magpie or nip into a high-street shop that buys and sells second hand goods. And why not have a rummage through that draw of random stuff and see how many old mobile phones you can find? Musicmagpie accepts them as well. 

Dog/cat sitting

It’s not just people with kids that need a sitter – some dog/cat owners prefer to have someone who really loves animals to come and take care of their furry friend, rather than putting them in a kennel or cattery. 

Make sure that your friends and family know you’re available for this kind of work and you could always contact some companies like Dogbuddy or Homesitters to see if you can register as a sitter. 

If the homeowners are away for a while, they might also need you to do some odd jobs around the house, like watering plants, putting the mail to one side and giving the place a quick dust. All in all though, this is a good way to earn a little extra money and make some four-legged friends at the same time. 

Rent out a room or unused space

Do you have a bedroom in your house that you don’t use? If you’re not using all your space, why not take a lodger in and rent it out? You’re allowed to earn up to £7,500 a year in tax free income from a lodger. 

You can also rent out your car parking space if you’re not using it. This is an especially good idea if you live close to an arena or sporting venue, as there will be lots of people who'll want the convenience of knowing they’ve got a parking space guaranteed when they go and listen to a band or watch their team play. 

You should always make sure that you’re allowed to rent out the space that's not being used. Parklife has a very helpful guide if you need to know whether you can rent out your parking space. 

Get paid for switching accounts

Did you know that there are some bank and saving accounts that will pay you to switch to them? In fact Bacs, the organisation in charge of bank account switching, has recently launched a campaign to get more people to switch their account. 

How much you get depends on which bank you switch to, but it’s normally within the region of £100 to £200. Always make sure you look into the details carefully, so that you know what kind of account you’re switching to. Obviously, this is more of a one-off payment thing – it wouldn’t be a good idea to keep switching accounts over and over again simply to get paid. And of course always make sure you understand what type of account you’re switching to and what it allows you to do. 

 

We hope these money-making ideas have been food for thought. If you're looking for ways to save a little money here and there, make sure you check out the rest of our money-saving section. 

 

by Christine Walsh

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To find out more about managing your money and getting free debt advice, visit Money Advice Service, an independent service set up to help people manage their money.