How to make extra money | NatWest

How to make extra money

Need to earn extra cash? Here's our top tips

Create your budget

We’d all like a little extra cash each month and there are some surprisingly simple ways to boost your bank balance or build up your savings. Here are some of our favourites:

Sell unwanted items

CDs, DVDs, games & books – If your bookshelf is groaning under the weight of your book collection or your CD rack is gathering dust, you can sell in bulk to places like musicMagpie, Zapper, WeBuyBooks and Ziffit.

 

Clothes – Companies like Twice will buy your clothes directly, but you could make a little more by selling each item individually through Tradesy, ASOS, Poshmark or ThredUp.

 

Electronic devices – If your old laptop or phone is in good condition, why not see how much you could sell it for to sites like CeX and Envirophone.

 

Furniture – Do a thorough declutter and post any unloved pieces of furniture on eBay, Amazon, Gumtree or Preloved, or take them along to your local car boot sale.

 

Jewellery – You have a few options if you’re looking to sell old jewellery. Companies who claim to pay cash for gold will only pay the value of the gold to be melted down and jewellers might not be keen to pay the market rate to protect their own profit margin, so selling to an individual could help you to get the best price. Using sites like Comparejewellery can help you find out what your item is worth before you try selling on sites like eBay or Preloved.

Shopping? Get cashback

If you’re looking to buy something online, sign up to cashback websites such as Topcashback or Quidco. You can get money back based on your spending; they’ll track your purchase when you click through to your retailer from their website. It’s usually free to sign up, and the amount you can bank can range from pennies to pounds; but it can all add up when you choose to withdraw.

Survey and mystery shops

You can get paid to share your views by filling in online surveys and reviews in your spare time or even become a mystery shopper, testing out customer service in high street stores and restaurants. 

Rent your assets

Parking space – If you live in or near the city centre and have a driveway or parking space you don’t use during the day, you could rent it to commuters for cash. Sites like JustPark or parklet are a good place to start.

 

Spare room – If you’ve got a spare room you’d like to let to a lodger, you could look into the Rent a Room scheme, with up to £7,500 a year tax free.

 

Whole home – Renting your place as a holiday home could help you boost your own holiday fund. You can list your property on sites like AirBnB, TripAdvisor, Holiday Lettings, clickstay and HomeAway.

Credit where it's due

If you’ve changed your energy or phone provider recently, you could still be due to receive payment for any credit that was left on your account, as believe it or not, in the past it wasn’t compulsory for companies to automatically pay you back. Contact your old provider to see if you’re owed any unpaid credit.

Tax reliefs referred to are those applying under current legislation, which may change. The availability and value of any tax reliefs will depend on your individual circumstances.

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