Find out how easy it is to make some extra cash from the assets you already have.
Rent Out A Room
Of course if your earnings are over the taxable limit, you could be taxed on rent as an income. But hey, if your rent was over the taxable income, you probably wouldn’t have the need to make extra money in the first place. Make sure that the room you’re renting is comfortable, secure and well decorated.
Your home should also be conducive to accommodate someone comfortably, remember that what you’re offering is not just a room but a home to someone. Renting a room in your house is an easy way to making money, and if you pick the right person, (someone who works long hours, or travels a lot) you may hardly ever see them.
Rent Out Your Garage As Storage
You will obviously have to make sure that it’s leak proof and secure, but renting your garage as a lock-up will be very useful to someone without the space, who has say a vintage car he/she wants to keep protected. It could also be used as a storage space for people who are in between residences and can’t afford the high rental of storage units. Of course items have to be checked on a regular basis, especially if they’re likely to be susceptible to cold etc., but the extra cash is worth it.
Place Ads On Your Car
You are required to join up, and many times, depending on where you live, pay a flat joining fee. But essentially, you get paid to allow companies to advertise on your car. You can choose between a car wrap (the whole car) or an ad in the window, or on the side of the car. You are still responsible for your own insurance and petrol, but you can earn a decent wage from car ads. If you do not want to use your own car, you can choose to drive their car (essentially get a free car) again, you are responsible for petrol and insurance.
You wouldn’t be asked to change your driving habits, you get paid for driving to your usual places, with the company logos on your car. This extra money would more than pay for your annual car related expenses, with a little shopping on top.
Rent Out Your Drive
If you live in the city centre or near office buildings, where parking for workers is difficult, you could rent out your drive to someone. If you’re away at work, you’d have your car with you anyway, but if you’re at home, and do not have a garage or a drive which is large enough for two cars, perhaps you could make use of the street parking (as if you park there late at night, you’d be likely to have reserved your parking place). Many areas have special residence’ parking.
Renting your drive is a good idea because it will be cheaper and very convenient to someone who wishes to have his car parked near to where he/she works, at a place that is private, safe, and cheaper than public car parks.
Have Foreign Students Stay With You
There are several language schools in every city. The vast majority of their students are foreign ones who’re learning English. Naturally, these students (mostly teens) need a place in which to stay. Sign up with these schools as a host family.
You will most likely be police checked to make sure you’re suitable to play such a role, and your home would have to be comfortable to entertain the students. But this could be a very rewarding and profitable thing to do. You do not have to leave your home, just be your charming hospitable self, and get paid for it as well.
Rent Ad Space On Your Blog
Now this may not be very lucrative, but if you write about cars, banks, or casinos, you could probably make quite a tip, since you could reasonably have bank, car or casino ads published on your blog. Make sure you read all the fine print before you sign anything though.
If you have a large garden which has become too big for you to manage, why not sell a part of it to a developer. Builders and developers are always looking for new spaces to build on. Make sure you know what you’re getting into, and consider that some of the light in the rest of your garden may be blocked by a new building (you’ll still have a say when the planning permission is made, nevertheless consider everything before you make the move). Land, especially near or in city centers are a very scarce commodity, thus, a good-sized profit could be made by selling, if it’s no longer useful to you.
Work out what your specialty is and improve on it. There are hundreds of contests out there, about several different topics. Many of them offer a substantial amount of money as their cash prize, and quite a few of them allow the player to take home whatever they’ve won, even if they don’t make it to the grand prize.
Of course the process of application may cost money, but if you actually get on the contests (t.v game shows), you would certainly cover your initial outlay.
If you’re a writer, there are competitions made precisely for you, there are literally hundreds of writing contests, which offer cash for their top prizes.
Magazines and newspapers on a weekly/daily/monthly basis, advertise for letters. Most of them now accept letters by e-mail, so supplying them with material, would cost you nothing extra. You could ask friends and relatives for their old magazines and papers, to give yourself the opportunity to gauge what kind of letters are actually published. Also ask your dentist, and GP to borrow theirs, (or just read them and make notes while you’re there).
Once you’ve done your research, you can begin to write letters. Some magazines offer as much as £100.00 for the star letter. Some of them ask for pictures of your holidays etc, and pay an attractive amount if they use them. Doing just a bit of research can top up your earnings by a significant amount of tax-free cash, each month.
The Little “Others”
Car boot sales, eBay, and second hand shops always come in handy if you want to make some extra cash. Though the amounts are little, there are hardly many other ways to make money from your cast offs.
Taking part in surveys sometimes can bring extra cash, but always be suspicious of companies that ask you to pay them before you sign up. You are working for them, so the only one who gets any payment should be you. Paying them would be like paying your boss when you sign your work contract. This is just not done.
Being an “extra” on TV shows can bring you extra cash and a lot of fun, but as always, you don’t have to pay to join any of the companies that do this sort of work. If they ask you for “a joining fee” just walk away. Legitimate casting agencies look for people of all ages, sizes, colors etc. They get paid by filming companies to find you. Once you’ve done the job, as the worker you get paid.
Don’t forget, you can write about anything you’ve got a lot of knowledge about, and make money by publishing on the internet. Do your research and go for the sites which offer a fair amount for your work.
Be sure to visit my blog, http://www.abloggersbooks.com for more ways to make and save money.
Published in: Personal Finance