HOUSEHOLDS will be looking for ways to save money in 2023 as the cost of living continues to bite.
Energy bills and food costs have soared for millions of families, and it means people’s hard-earned cash isn’t going as far.
Which? has revealed 11 tips to boost your income in 2023
But there are some ways to make a bit of extra dough if you’re struggling to get by.
Consumer champion website Which? has revealed 11 handy tips that you can use to boost your income this year, and some might surprise you.
Reena Sewraz, Which? money expert, said: “Many people are feeling financial pressure at the moment as high food, energy and fuel prices squeeze household budgets.
“However, there are steps you can take that could help you make some extra cash this year.”
Switch your bank account
Some banks offer switching bonuses to entice people in and First Direct is currently offering £175 to new customers.
But terms and conditions apply, so make sure you check with the bank before making the switch to find out what you need to do.
First Direct is the only bank offering a switching bonus currently, but Which? expects others to unveil new ones soon.
Boost your savings
If you have a savings account with a low-interest rate, now might be a good time to shop around for a better deal.
There are not any accounts currently beating the rate of inflation, which is at 10.7%, although First Direct is offering a regular saver account at a highly competitive 7% AER.
If you want to see what’s out there, you can use price comparison websites like Uswitch, Which? or MoneySavingExpert.com to trawl through the best deals.
Share your skills
That part-time skill or hobby could be more of an earner that you realise.
Websites like Taskrabbit connect people who need help with odd jobs, like DIY, to those who can do them.
Plus, if you’re good at photography, you might be able to earn money selling images online through Shutterstock, Alamy or 123RF.
Sell your old clothes
Selling old clothes or accessories can be another good earner.
A Which? journalist made £160 selling clothes at a car boot sale.
Plus, you can flog items on secondhand marketplaces like Vinted, Depop or eBay.
Make sure you do some research to find out how much people have sold a similar item for before making a listing though.
And factor in any additional fees you might have to pay for selling any items.
Make cash from trash
Old or unwanted items like toiletries, clothes and printer ink cartridges can often be recycled in exchange for money or vouchers.
Empty printer ink cartridges can go for as much as £2.50.
Websites like The Recycling Factory and Inkviro can help give you an estimate of how much your empty cartridges could fetch.
Some shops offer customers rewards for returning empty beauty products too.
John Lewis, Boots and Lush all have recycling schemes offering vouchers or loyalty points that be used towards your next buy.
Make money from your car or driveway
You might not know you can make money from your driveway or garage by listing it on websites like JustPark or YourParkingSpace where you can rent it out to motorists.
You can register your space for free and earn anything between £50 and a whopping £800 a month.
Anyone with a car can rent out their vehicle on apps such as Turo, Hiyacar, Karshare or Getaround too.
It could see you earn up to £400 a month.
Plus, if you’ve got an electric vehicle charger you can rent them out.
Sites like JustCharge and Co Charger let you set your own rates for electricity and even manage bookings.
Do a benefit check
Over seven million households could be missing out on extra help from the government.
That includes through council tax discounts, pension credit and Universal Credit.
So it’s worth doing a quick check to see what you might be eligible for.
Websites like Entitled To have tools that you can use to find out what you could be in line for.
Try cashback sites
Shoppers can claim cashback on their purchases on websites like Quidco and TopCashback.
But be aware you’ll need to use the cashback site’s link to process the purchase.
Cashback isn’t guaranteed either and can take months to reach your account so it’s worth checking out any terms and conditions.
Plus, you should compare upfront costs first as even if the cashback offer seems generous, it might not be worth it if the price of the main product is high.
If you weren’t going to buy it in the first place, it might be best to leave it.
Rent out your belongings
If you don’t want to chuck your clothes, you can rent them out for a price instead.
You can rent out sports equipment and household items too.
Prices for renting a dress from website By Rotation start at £9.
Most apps add a small usage fee so be sure to check out the small print.
If you don’t feel like renting your clothes out, websites like Fat Llama and Pa-rent let you offer out your household items.
Which? found cameras listed for £35 per day on Fat Llama and £30 to rent out a paddleboard.
Flog your old books, CDs and…Lego
On top of selling old clothes, you can fetch some cash for selling old books, CDs and even Lego.
Websites like WeBuyBooks and Ziffit let users trade in books for cash.
Music Magpie accepts old CDs, computer games, DVDs and used Lego by the kilo too.
Carry out surveys and tasks
You can earn money for carrying out simple tasks or even sharing your opinions in a survey.
Sites like Swagbucks and Gift Hunter Club pay users to complete short tasks, including paying games and watching videos.
You can get any money earned as a gift card, or as cash paid into a Paypal account.
But be aware it can take a while to build up a decent pool of money.
Apps such as Shepper and Field Agent pay users to complete mystery shopping tasks too.
