There are many ways in which you can boost your income by making extra cash everyday. Below, I have selected some of the easiest and highest returning methods to explain to you how you can make your cash return more than your current interest rate. Each option is different and will suit different people depending on their situation.
- 1. Make your credit card pay you: You can make £100’s each year from using your credit card on your daily spending. Generally, the best credit cards offer 5% cash back on any purchases for the first three months. I would recommend setting a monthly direct debit to your credit to avoid any interest costs.
- 2. Rewards from switching your bank account: Due to very high competition in the banking industry, some banks are willing to offer you a sign-on reward in cash, usually between £100 – £150. Generally, the banks that offer these rewards will be the ones offer the most competitive rates and products but it is best to check which bank is best for you before you switch.
- 3. Get the benefits you deserve: There are many benefits out there that offer great things for free or even just cash. These benefits can come from the government or an independent organisation or business. It is important that you find out what benefits you are personally entitled to as there is a lot of resources and money out there on offer.
- 4. Sell your unwanted physical products online for cash: This is a great way to make extra money and also free some space in your house. There are many ways in which you can sell your unwanted goods for decent prices to people who want them. The internet is a great resource for finding the people that may be interested in buying your products. I have written another article, explaining the best platforms to sell your product on, depending on what your product is.
- 5. Sell your old clothes: Despite the demand for second clothes being relatively low online, there is another way in which you can convert your old rags into hard cash. Companies such as “Cash For Clothes” will take almost any fabric off you in return for money. They accept a wide range of clothes, shoes, and even bedding for a average rate of 50 pence per kilo.
- 6. Sell your old wedding dress: If you are someone who has there old wedding dress in the attic and is prepared to give it away, you are in luck. Most designer wedding dresses can be sold for more than £500. There are many resources you can use to get help on selling your wedding dress but if you want to sell it yourself, just check the prices of similar second hand dresses on sites such as Ebay and Gumtree.
- 7. Sell your gold: Selling your gold is a great way to make quick cash. Although, be careful, there are many Gold pawners who claim many promises in return for your gold and fail to follow up on their promise. It is important that you do some background checks to ensure the company will deliver on their offer. However, the companies that are legitimate are willing to pay more than £55 for a 18ct gold ring.