AS we come to the end of 2022, it’s a good time to start thinking about how you can give yourself a cash boost next year.
With energy bills and the cost of essentials skyrocketing, many households may find it difficult to balance their budgets in 2023.
After the Christmas season, we could all do with a little help.
There are several ways you can give yourself a cash bonus, from long-term solutions to quick boosts.
We’ve rounded 10 ways you can earn some money and even add to next Christmas’ shopping fund.
1. Switch your bank account – up to £200
You could get up to £200 in free cash just by switching to a new bank account.
Many banks and building societies offer bonuses if you switch your accounts to them.
Although it may sound complicated, it’s actually quick and easy.
This is because of the switching guarantee, which means all your direct debits and standing orders can be swapped over with no effort on your part by the Current Account Switch Service (CASS).
HSBC pays new customers £200 when they switch to an Advance current account.
Customers who switch to a Halifax Reward account using the CASS can get a £175 switching bonus.
First Direct Bank is offering £175 to customers who open a 1st Account and switch their everyday banking using the CASS.
Before you switch, double-check that you meet the eligibility criteria.
2. Earn free cashback – up to £500
Sites like TopCashback give you money back on your shopping, but they require you to spend the cash first.
You then get reimbursed, whether it’s a set amount or a certain percentage off your shopping.
The site, similar to rival Quidco, pays when you go through its website to spend with retailers or providers.
One savvy dad managed to pay for most of his Christmas gifts this year by using a cashback site.
William told The Sun it “couldn’t be simpler” to do, this year alone he has made £515.
3. Rent out your driveway or parking space – up to £1,200
Alternatively, if you’re lucky enough to have a driveway or parking space, you may want to consider renting it out.
Tarek Fergani told The Sun he made £400 from renting out his parking spot in Southsea, near Portsmouth.
It took Tarek four months to earn £400 so over the whole of 2023 you could earn £1,200.
He used the YourParkingSpace website, which he described as easy to use.
You enter some standard details such as your name, email address and the bank account you want to be paid into.
You also need to upload a picture of the spot so the renter knows what they are getting.
But there are similar apps around, so it’s worth comparing them with others before you sign up.
To find out more about renting out your parking space see our article.
4. Side hustle – up to £500 a month
There are plenty of side hustles to help you earn some extra cash, so why not start one this year?
She does this by doing simple tasks for other people using Airtasker, for around six hours a week.
This is just one example of how to get an extra income stream whilst working your usual job.
For example, 27-year-old Millie White has found a side hustle that makes her £1,000 a month and says it’s so fun that it doesn’t even feel like work.
The project marketing manager has always had a passion for finding the perfect birthday and Christmas gifts for friends and family.
So, she turned her present-buying skills into an extra income stream which helped her to buy her first home last year.
5. Sell your old furniture – up to £1,000 per item
You can give your bank account a boost by selling old furniture.
Of course, if you’re thinking about selling an antique, it’s always worth sprucing it up to make sure it’s in the best condition and will sell for the highest possible price.
Below are a handful of furniture pieces you can make money from.
- Mid-century sideboards – up to £1,000
- Desks – up to £650
- Lamps – up to £100
- Chairs – up to £400
- Coffee tables – from £250
If you’ve got items in your house that you think could shift for loads of cash but aren’t sure, Brad said it’s worth doing some research.
For more information on what sells well and how to do it read our article here.
6. Complete online surveys – up to £100 a month
With sites such as Swagbucks, Toluna and i-Say, you can start earning cash with just a few clicks.
Surveys will be distributed to you depending on who you are, where you live, and what you’re into.
Typically, they will take between 10 and 15 minutes to complete.
If you qualify for surveys and check in regularly, you could make around £5 an hour.
By that reckoning, you could get close to earning £100 a month.
Payments are usually made via PayPal once you’ve reached a certain threshold, but check carefully, as this can vary from site to site.
As a general rule, steer clear of survey sites where you have to pay to be a member.
7. Check your £20 notes for any rare finds – from £50
There are a number of £20 notes floating about that can score particularly high bids at online auctions, all because they have a quirky serial number.
With the current £20 notes having been in circulation for a couple of years, here’s how to spot if you get your hands on a rare note and make a mint.
Early serial numbers
When the Bank of England issues a new note it donates those with significant numbers to the people and institutions involved in the development.
For example, the first note AA01 000001 is given to the monarch.
AA notes are the most valuable, but anything with an A in it could be worth more than the value of the note itself.
An AA01 £5 note sold on eBay for over £60,000 in 2017.
Consecutive serial numbers
For instance, if you get one with AA1234567, it’s likely to be popular.
Two notes with the serial numbers AA01090561 and AA01090562 sold for more than £50 in March 2020.
Special meanings in serial numbers
The £20 notes released in 2020 feature artist JMW Turner, so serial numbers with his birth date – 1775 – could be a winner.
If you find one starting with an A that also includes his birth date that should be worth even more.
To find out more about how to spot rare £20 notes read our article.
8. Flog your old phone – up to £200
If you’ve asked for a new mobile this Christmas, why not sell your old one to get some free cash?
You could make up to £200 according to Mazuma Mobile.
Local forums like Nextdoor and Facebook Marketplace can help you find someone nearby who could buy your phone and are free to use.
It can depend on the make and the model as well as the condition the phone is in, so if you upgrade your phone often the more you could make.
A 64GB iPhone 8 Plus in good condition could be worth £200 and newer models even more.
Older models are worth less, but if you have more than one laying around it could easily add up.
You can sell your old phone online with the selling sites above, or use phone recycling websites.
Here are three things to watch out for when selling old gadgets online either way.
9. Go mystery shopping – up to £1,500
Being paid to shop really does sound like a great way to earn some cash, doesn’t it?
Some brands pay you to shop free of charge, and you can even do it online in some cases.
MoneySavingExpert forum users have put together a comprehensive guide to how you can start mystery shopping.
You could make hundreds as well – we previously spoke to one dad who makes a whopping £1,500 a year from filling out online surveys and mystery shopping.
10. Do your washing at night – up to £100
Major energy suppliers are offering customers cash to put their washing on at different times of the day.
It comes amid warnings that households could face blackouts this winter.
Households will be paid by suppliers to use their energy at less busy times between now and until March, 2023.
But you’ll need to be on a smart meter, whichever supplier you are with to take advantage of it.
The new trial rewards customers for shifting their energy usage away from peak times.
OVO says it will offer a competitive rewards system through its exclusive high demand day/time notifications.
Running until March 31, 2023, the trial could see customers earning up to £100.
Find out more in our guide.
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