The rising cost of living is hitting our finances hard. The Centre for Economics and Business Research say 72% of Brits think they’ll be worse off by an eye-watering average of £252 per month (£3,020 a year) in 2022.
However there are ways to bring in much-needed pounds that you may not yet have considered. The team at money-saving website, Quotegoat.com have put together their 15 top tips on making some much needed extra income this year. They may not be possible for everyone, depending on your circumstances, but they might bring you some inspiration when it comes to your own budget.
Editor in chief of money-saving website Quotegoat.com , Michael Foote, said: “Every person in the UK is likely noticing they’re financially worse off right now. It’s crucial that you take action if you’re slipping into debt or unable to pay bills. The longer you leave it, the more your debts will balloon. Although these projects won’t solve all your financial worries, they might help in some small way”.
“You won’t have to pay tax on the first £1,000 you earn from these types of activities or selling your unwanted goods. If you’re lucky enough to make over £1,000 with side earners like these within a year, you’ll need to declare it to HMRC”.
Earn money with the assets you already own
There are a number of apps and websites that will help you rent out your spare room, parking space, car and even wedding dress and home to film crews. Check out Airbnb , JustPark , Hiyacar , Byrotation and Shoot Factory .
Earn an additional income with a flexible second job
This isn’t an option for everyone and it won’t work for those already working long hours or jobs with varying shift patterns. But many services are looking to employ people on flexible terms with no long-term commitments, which for some can make it easy to fit around your primary job. You could consider driving for Uber or delivering for Just Eat or Deliveroo .
Be a case study
Follow #journorequest on Twitter to find journalists looking to speak to individuals about subjects varying from relationships to finances. In some cases there will be a payment for your story and photos.
Host a foreign exchange student
Get in touch with local schools to find out if they run foreign exchange programmes and what you need to do to become a host. You may be able to earn as much as £80 per week per student.
Join a mystery shopper agency
Retailers and restaurants spot …….