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Aug 13

Four Easy Ways to Increase Your Income

Reading Time: 4 mins

Managing a household can be tricky, especially when expenses keep mounting. While we often seek ways to save money, we can actually increase our income in certain ways too.

More than 50% of adults in the UK started 2021 owing debt. The average amount of debt per person is over £9,000 so ways to earn cash are welcomed.

This article aims to help you boost the money coming in, so you can manage better, or put some aside. These four ideas should help you add to your monthly income, without having to invest too much extra time.

 

Paid Online Surveys

Every single brand is interested in their customers opinions. It helps them to formulate new products and services, as well as improve their old ones.

This is why paid surveys exist, so that brands can reach out and discover consumer’s habits and desires. The good news is that they don’t even expect this information for free.

You can be paid for sharing your opinions, you just need to decide where you’re going to share them. Earnings range from about 0.50p per survey up to £5, but you can find even more lucrative surveys.

Check out:

  • i-Say – this is one of the top paying sites where you get vouchers for high street retailers like Argos
  • Swagbucks – daily polls and watching videos earns you points that convert to Amazon vouchers
  • Toluna – earn points to get PayPal cash
  • Valued Opinions – £1 – £5 per survey, usually 15 – 20 minutes per survey
  • Panelbase – a wide range of topics, pays into your bank or vouchers
  • Curious Cat – earn just £1 before pay out, can earn upwards of £30 per month

 

Get Cashback When Shopping

Signing up to a cash back site can earn you some good rewards, particularly when shopping for bigger household items. A cash back site is a third party that you can usually join for free and get rewards from online stores.

Sign up, add the cash back site to your search bar and you’ll be notified of special offers while shopping. You can also get the store’s own points, so it’s a double win.

The main cash back sites that are popular with UK customers are:

  • Quidco – sign up bonuses and from 1% – 10% on purchases
  • TopCashback – established since 2005, over 5,000 partner brands
  • Boom25 – every 25th customer gets a full refund on their shopping
  • OhMyDosh – great for buying clothing

These cash back sites also offer prizes and rewards, so it’s worth keeping an eye out for their special offers. Always check reviews of a cash back site before signing up, as there are many out there.

 

Sell Your Unused Items on eBay

There are many benefits to selling your unused items on eBay. Everyone has clutter or items they won’t use any more at home but someone else could use those items!

If you’re struggling to decide what to sell, think of the following:

  • Anything that hasn’t been worn in a year
  • Items still in their packaging – these will get more money
  • Branded items – is it designer? Selling it will gain a few pounds
  • Faulty electrical items – some people know how to fix them
  • Vintage clothing – your old ACDC t-shirt, or Doc Martens
  • Almost anything – one person’s trash is another one’s treasure

Ebay now has a scanner so anything with a barcode you can see how much similar items are selling for. Simply download the app to your phone and use the camera to scan the items.

Look out for ‘Sell for £X’ weekends and promos where your sales fees will be limited on all items. This is a way to earn even more on each product you have for sale.

You can make a steady side income selling on eBay once you get organized. Get familiar with the words used, such as BN (brand new) and VTG (vintage) and you’ll have goods flying out.

It’s exciting seeing the numbers go up on an item, but don’t spend too much time watching it.

 

Refer a Friend Schemes

You can earn extra money by referring friends and family to products and services that you like. You can get this on everything from energy providers to holidays.

What’s brilliant is that you can earn cash, while you’re earning cash, as sites such as Quidco and TopCashback provide referral bonuses. You get £10 – £20 when a friend signs up and sometimes they get a bonus too.

Here are some popular retailers and service providers who offer referral schemes:

  • Ocado – the online supermarket offers £20 for every friend you refer
  • Swagbucks – surveys and polls site where you get 10% of your friend’s earnings forever when they sign up
  • Vodafone – Refer a friend to Home Broadband and get £25 gift card
  • Virgin Media – Both you and your friend will get £50 when you refer them

 

Happy Earning

Now you’ve found some extra ways to earn money, you can start right away. Put a dent in your debt, or simply pop some aside for something special.

All of these options have regular deals too, so as well as earning more you can get extra rewards.

 

Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence.

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