Passive income: Expert on making money when you’re not working
1. Switch banks:
NatWest and First Direct are currently offering £150 to anyone who switches their account. Nationwide is promising £125, while Virgin Money is enticing people with a £100 experience voucher.
2. Rent out your driveway.
Britons are renting out their driveways through online apps like JustPark and earning more than £100 a month. People who live near a city centre, airport or tourist attraction can expect to earn more than others.
3. Sign up to an extras agency.
Although people might not get regular work it’s a fun way of making extra money. Britons can earn up to £200 a day and 41-year-old Paul Croker told Express.co.uk that it was an experience he’ll never forget.
4. Hire your car through Karshare.
Why not take advantage of working from home by renting your car to your neighbours during the week and earn up to £500?
Karshare covers the insurance while it’s hired and you don’t even need to be at home to hand over the keys as it’s all done through key-less technology.
5. Get paid to talk.
Sign up to a market research company and earn around £50 an hour. People won’t always get regular work but it’s easy money when they do.
6. Rent your house out as a film set.
Helen Pritchard rented out her period property to an agency where people can earn up to £3,000 a day. Of course that will depend on the property but there is a demand for smaller flats too.
7. Mystery shopping.
While some people do a bit of mystery shopping just to cover a meal out, others are making a few hundred pounds per month. 32-year-old Eileen Donaghey told Express.co.uk it could be the perfect job for retirees, parents or anyone looking to make an extra income.
8. Get paid to shop.
A dad from Preston in Lancashire told Express.co.uk how he’s gone from drowning in debt to raking in an extra £25,000 just by using cashback sites. People can make £200 in just a few clicks – try TopCashback and Quidco.
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9. Sign up to TaskRabbit or Airtasker.
Britons struggling to find work could earn £28 an hour in their spare time by signing up to sites like TaskRabbit or Airtasker. 68-year-old Paul Melhuish works 10 hours a week as a handyman to supplement his state pension.
10. Hire out loft space through Stashbee.
People can make up to £800 a month renting out their loft space. Stashbee enables Britons to make money out of their unused lofts, garages, basements and driveways.
11. Take in a lodger.
The Rent A Room scheme means you can earn £7,500 a year tax free. People can advertise their room on sites like Spare Room or Gumtree.
12. Do a benefits check.
Charities say people should do a benefits check every six months. Since the Universal Credit taper rate changed in November, thousands more people are eligible for a top up while 850,000 pensioners are missing out on Pension Credit.
13. Have a clear out.
Why not sell unwanted items on Facebook Marketplace and other selling sites? These sites can also be great places to pick up cheaper items.
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14. Loyalty points.
Make the most of loyalty points by turning them into cash or use them to pay for treats or days out with the family. Tesco Clubcard vouchers can be used to pay for a Friends and Family railcard which offers one third off travel for a year.
15. Refer a friend.
Most companies now have a refer a friend scheme. Car clubs like Enterprise offer people £20 for referring a friend to the car hiring app.
16. Disable cookies.
This is particularly important when looking for a travel bargain. Websites remember people’s search history and may not offer them the best deal.
17. Abandon online shopping baskets.
Some retailers will email you with a discount if you put something in your online basket and don’t proceed to the checkout. Not all companies do it – but it’s always worth a try.
18. Download loyalty apps.
Most companies have an app and some companies will run special offers from time to time especially if it’s a birthday.
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19. TooGoodToGo and Olio.
These apps help both the environment and peoples’ pockets. While Olio distributes free unwanted food, TooGoodToGo sells unwanted restaurant food at a much lower price.
20. Employee benefits.
Lots of companies offer discounts on shopping and eating out just for their employees, so it could be worth checking out what is on offer.
21. Eat out for less.
23. Take out for less.
Before ordering a takeaway see if there’s a discount code for Uber or Just Eat and save money. Ordering on a certain day could help too – Dominoes has a great two for one deal on a Tuesday.
24. Do a direct debit detox.
As a nation, Britons are throwing away £25billion a year in subscriptions or services they don’t use according to Money Saving Expert. Slash those subscriptions.
25. Ditch the TV.
Britons don’t need a TV licence if they only watch Netflix. If they’ve been paying for one unnecessarily they could also ask if they’re eligible for a refund.
26. Go SIM only.
The cheapest all inclusive SIMs are just £15 and shoppers might be able to get them even cheaper as part of a family bundle. Say no to the handset upgrade.
27. Pay up-front.
If a new handset is a must, it could be possible to save a fortune by paying for it upfront. Even better, buy a refurbished model.
28. Make the most of free money.
Britons should check whether they qualify for free Government money. Those aged 18 to 39 can open a lifetime ISA and the Government will add a 25 percent bonus. People on certain benefits can open a Help to Save account instead which comes with a Government bonus of 50p for every £1.
29. Sort out debt.
People should consolidate their debts if they can and pay off as quickly as possible. It’s suggested people pay the debt with the highest APR first.
29. All in one.
Paying car insurance upfront, if it’s something people can afford to do, can often be a lot cheaper.
30. Claim money back.
How often have you been delayed but never bothered to complain and ask for a partial refund? It could be worth doing especially if it was an expensive ticket.
31. Cancel insurance.
Is all the cover really needed? Some people could even be doubling up on insurance. If it’s necessary, see if there’s a better deal out there.
32. Don’t pay twice.
Not doubling up on things could be important – for example, could key care be available through a breakdown cover and insurance company?
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33. Claim WFH allowance.
More than half a million people have already claimed the working from home tax relief this tax year. It’s worth up to £125 per year and it can be backdated.
34. Try your luck.
Some people make a nice little side income from entering competitions. Blogger Di Coke from SuperLuckyMe told Express.co.uk how she won £35,000 worth of prizes last year.
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36. Take in foreign language students.
Some colleges pay £150 per week per student and two same sex students can stay in the same room. Breakfast and an evening meal would need to be provided but it can be a great money earner.
37. Turn a garden into a campsite.
It’s possible to list a garden on airbnb although people will get more money for it if they have a garden room.
38. Sign up for festivals.
Festival tickets can set people back a few hundred pounds but people who volunteer for charities get in for free. Workers also get free meals and tea and coffee.
39. Swap skills.
Instead of paying for DIY, it might be possible to swap skills with someone in the local community.
40. Claim all freebies.
Millions of people qualify for help towards glasses, dental treatment and free prescriptions. Claiming everything one’s entitled to could mean saving a fortune.
41. Direct selling.
It’s come a long way since the 1970s with thousands of Britons relishing the opportunity to work their own hours on their own terms. Make sure it’s a reputable company by checking the Direct Selling Association website.
42. Pet sitting.
While it’s advisable to study for qualifications when setting up a pet sitting business, it’s possible to look after the pets of friends and family for a bit of extra cash.
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43. Socialise on a shoestring.
Britons can still enjoy life’s luxuries if they find free and cheap events in their local area. Check out local blogs and keep an eye on local Facebook groups.
44. Treat parents for less.
Lots of pubs will let mum or dad eat free if the family books a table on Mother’s Day or Father’s Day.
45. Retrain as a tour guide.
Depending on where people are in the country, they could earn up to £300 per day as a tour guide. Retired journalist and broadcaster David Poyser now takes people on tours of London and loves his new job.
46. Switch suppliers.
Save money by getting the best deals on TV packages, broadband and energy.
47. Use less energy.
Try not to use electricity guzzlers like the tumble dryer and dishwasher when trying to save money. Turning everything off at the plug could save £80 a year.
48. Set a shower timer.
Having trouble getting family members to slash hot water usage? Encourage them to take shorter showers by setting a shower timer.
49. Look into getting a water meter.
This might save money in small families. The general rule is that it might be worth looking into if there is more bedrooms than people.
50. Check council tax band.
Successfully challenge a council tax band and the billpayer could be refunded hundreds. Be careful though as this can work both ways, and people could end up paying more!
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