Home Money 9 Ways to Boost Your Bank Account in January

9 Ways to Boost Your Bank Account in January

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Pension credit – £290 a month

If you're over state pension age and on a low income, you could be eligible for pension credit. Not only does it provide extra income, but it also comes with other perks such as a free TV licence and housing benefit. It's worth looking into if you haven't already.

Energy grants – up to £1,500

Struggling with high energy bills? Several major energy firms offer grants of up to £1,500 to help customers in financial difficulty. You may need to prove your situation to receive assistance, but it's definitely worth exploring.

Fuel vouchers – £50

If you're on a prepayment meter and struggling to pay your energy bills, you may be eligible for a one-off fuel voucher. Check with your local council or energy company to see if they offer this kind of support.

Switch bank account – £175

Switching your bank account can earn you a cash bonus. It's quick and easy to do with the Current Account Switch Service, and it may also give you access to better savings accounts and overdrafts.

Rent out your spare space – up to £130

Did you know you can earn money by renting out your spare space? Whether it's a garage, a driveway, or a spare room, websites like Airbnb and Spareroom.co.uk can help you find paying tenants.

Sell old furniture – up to £1,000 per item

If you have old furniture you no longer need, why not sell it? Certain pieces can fetch up to £1,000. Just make sure to spruce them up to get the best price.

Complete online surveys – up to £100

You can get paid for filling out online surveys. Sites like Swagbucks and Toluna offer cash rewards for your opinions. It's an easy way to earn extra money in your spare time.

Sell phones – £200 an hour

"Flipping" phones, buying them cheap and reselling them for a profit, can be a lucrative side hustle. You can earn hundreds of pounds in just a few hours. Plus, you can also sell your old phone for some extra cash.

Deliver food – £7 to £13 an hour

Become a food delivery driver for platforms like Just Eat, Deliveroo, and Uber Eats. With just an electric bike or bicycle, you can earn up to £13 an hour. It's a flexible way to boost your income.