Don’t Stress, There Are Plenty Of Ways To Make Extra Cash

January 13, 2024
3 mins read

Don’t Stress, There Are Plenty Of Ways To Make Extra Cash

By Features Desk

Thursday, October 6, 2016.

According to a report, just over one-third of people currently living in the UK have experienced poverty in recent years. We’re not talking about not being able to afford to go to the cinema here or eat out. We mean these individuals struggled to pay rent and buy food at some point in the last few years. Now, if you think about it, this is hardly surprisingly. Recently there have been reports that the minimum wage is too low for most people to live on. While many have expressed frustration at the benefit cuts that they rely on to get by.  Vulnerable individuals like the disabled are the most at risk from suffering in poverty. So, what can be done about this situation? It seems that the best thing would be for people to know how to increase their income. No matter what your job situation, there are ways to do this without taking on too much extra work.

Renting Property

One possibility is to think about using property to make some money. The issue with this is to make the investment, you need some extra cash in your accounts. Most people don’t have enough money to buy extra property. But they might own their home, and if that’s the case, they can rent it out. Renting out your home could provide a nice second income for your family. We know, you’re probably not thrilled with the idea of strangers living in your home. Particularly if you have children. That’s totally understandable, but you can choose who you let stay. Our advice would be to rent spare rooms out to students. Students while young, are often reliable and trustworthy. After all, they will have been accepted into top universities and colleges. Make sure that they have a guarantor, though. Otherwise, you might find they don’t always pay their rent on time.

Collecting And Selling

Pixabay Image

There are plenty of things in this world that you can collect, and they will accumulate value. For instance, you might have bought a number of actions figures for your children over the years. If you have a full set, you might find someone is willing to buy them off you. Particularly, if they are rare. Look out for items with mistakes as these tend to be worth a fortune. For instance, if you had kids in the nineties you might have collected a few Pokemon cards. Rare cards with mistakes were handed out to ticket buyers for the first movie. These cards, if you’re lucky enough to own them, sell for thousands on eBay.

Pokemon is just one example, and there are many others such as obsolete currency. A rare currency like this holds no actual value. But collectors are willing to pay a fortune for rare notes. For instance, you can buy Zimbabwe 50 trillion banknote that isn’t in print anymore. Put it up for auction and see how much you get for it. You’ll be surprised, we’d wager.

Side Hustles

Side hustles simply mean a job on the side of your main career. Plenty of people do this to earn a little extra cash through the year. For instance, you might want to think about becoming a tutor. This is the perfect side hustle for the educated professional. You will be able to charge for your services, working as a teacher. You will need to have a lot of knowledge in at least one subject, so if you’re rusty, you might want to study up. You might have received all As in school for French, but that was a long time ago. A refresher course wouldn’t hurt and will help you get more people to buy your services.

Other side hustles might include babysitting, dog walking or guest writing on blogs. Remember, when you set up a side hustle, it will be cutting into your free time. You don’t want it to be something that you hate. It should be something that you find stress relieving or at the very least easy. We’re sure you have enough stress in your full career without adding to it.

Let Your Money Work For You

Finally, you should be investing whatever money you have in low-risk bonds. Don’t just let it sit there and stagnate because then it’s just a wasted opportunity. You’ve got to make the most of any money that you accumulate. If you do this, you should find that you’ll be making a little extra in interest each month.  Make sure you research the market to find the best deals on high-interest accounts.

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