MoneyMagpie

Nov 23

Make money from your postcode

Need to earn some extra money? You can make money from where you live – whether you’re in the country or in the town. Your actual area can be the main thing that makes money for you. See how here.

If you want to make some cash now, think about where you live and how you could make money from that. You may already have tried money-makers such as online surveys or virtual assistant work, or you may have looked for earners that depend on you being there in person, such as being a film or TV extra, selling cakes and jams or getting people into clubs. All that’s great, but let’s look at your home and the area in which you live. How can you maximise that?

Find local work

Nanny playing with two children

You could do anything from babysitting, dog-walking, house-sitting to teaching a language, creating a website, performing at weddings or painting and decorating. Make flyers and posters and advertise your skills in local libraries, train stations, pubs or even stick leaflets through letterboxes in your area.

 

Sell energy to the national grid

Energy digital graphic

If you’re into green energy (and well done if you are!) you can sell surplus energy to the national grid. If, like David Cameron, you’ve put solar panels on your roof or you’re using a stream at the end of your garden to generate hydro electricity, you could sell some of your surplus and pay your energy bills and more! It does have to be green energy though. You can’t just syphon off your neighbour’s electricity and sell it to the grid!

  • A programme of what are called ‘Feed-in Tariffs’ (FiTs)—an income from every kilowatt hour generated – are available. All renewable energy qualifies, check on the Feed-in Tariffs site for more info.
  • In 2011, the Renewable Heat Incentive became another potential source of income where you can also receive a tariff for renewable heat sources (RHI).

Both of these schemes will pay you a bonus for exporting energy or renewable heat sources into the grid or network. It may sound complicated, but there is an increasing number of specialist suppliers and websites that can provide advice and information. Ownenergy is one business that explains clearly how to do this.

man fitting solar panels to roof

Renewable energy, which is suitable for domestic use, includes solar energy, wind turbines, water turbines, ground source heat pumps or biomass boilers and stoves. These various technologies are designed to last 20 to 25 years but they do cost to install. However, over time, you should be able to make that money back…and more. Ownenergy has worked out that you should be able to make and save twice the money you pay out on the energy-creating technology. Also, there are a variety of government grants available to householders installing renewable energy technology.

Check the latest on grant information from the Low Carbon Buildings Programme at the Department of Energy & Climate Change. This government website also offers a number of case studies from individual householders who have installed, and are using, all the different micro-generating technologies. And you will be updated in some advances of these technologies –many are suitable for residents of flats as well as people with detached houses in the leafy suburbs. More information can also be found at The Renewable Energy Association and the Centre for Alternative Technology.

 

Rent out your driveway

Home Driveway

Do you have a driveway, garage or private parking space that you don’t use? Do you live somewhere popular like the centre of town, near a station or near a sports ground? You could make money by renting out your space. Contact Park Let or JustPark to advertise it. Even if you use the driveway regularly, you can still make money by renting it out temporarily. For example, you might not use it at the weekends, when the local football stadium is busy. Or you might live near Wimbledon but move out during the tennis. Either way, read the full article on renting out your driveway to learn how drive up your income levels from your parking space.

 

Rent out a room

Room for rent sign

You can make up to a whopping £4,250 a year by renting a room or rooms without having to pay tax on it. You can advertise your room for free on Easyroomate.com – it covers the whole of the UK and is free to post. Go to the homepage – it looks almost like a dating site! Actually, many people meet their significant other through renting…who knows? We also like Spareroom which includes an interesting ‘buddy up’ section where people looking for somewhere to stay can find others in the area who are also looking. That way they can get together and find a whole house to rent together. Clever!

For more ideas, take a look at our article on renting a room. If permanently sharing your nest doesn’t appeal, consider taking in foreign students short-term. English language schools are always looking for good homes for their growing number of students. Depending on where you live and how nice your place is, you can make between £35 and £150 a week – read this article on hosting foreign students to find out more.

Spare bedroom

Or, you could just go for someone who can stay with you part-time. The website Monday-to-Friday specialises in just this type of person. It appeals to people who live in the country, or in another country altogether, and need to stay in your area during the week, but go home at weekends.

You don’t just have to rent to people, though. If you have an empty, dry basement or a big loft, you could potentially advertise it as storage space, particularly if you live in a crowded city where storage is at a premium. If you have a cellar or garage that has its own access – other than your front door – you will be able to charge more by offering clients their own key and 24-hour access.You could make anything from £5 a week for storing a few boxes in your loft to around £50 for filling a garage in central London.

 

Rent out your garden

Garden with for rent sign on the gate

If you have a large garden, consider turning it into allotments, particularly if you live in a city. In London, the typical waiting time for an allotment is 10 years! So if you don’t mind people coming into your garden whenever they like and growing whatever fruit and veg (and possibly flowers) they fancy, then it’s a good way to make some extra cash and keep the weeds off the place. Municipal allotments charge very little – between £10 and £30 a year. But that doesn’t stop you from making a private arrangement and charging as much as the market would bear.

Got any other money making tips? Let us know on our Facebook page.

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WHAT DO YOU THINK?

4 thoughts on Make money from your postcode

  1. Hello can you please elaborate on how can I use a stream at the end of my garden to generate hydro electricity?

    Reply
  2. I am competent in putting together flat packed furniture. Please contact me to discuss your needs, very reasonable prices.

    Reply

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