It may sound too good to be true, but you might have some untapped potential income streams. You might even be leaving money you are entitled to on the table. Have a look at our 4 ideas to increase your income:
1. Rent Something Out
From cameras to barbeques to bikes, you can rent out nearly anything, but it comes with some risk. Talk to your insurer if you are considering renting out your things. Renting out space is particularly effective – you could rent a room in your house, rent your driveway, or even rent space in your house as storage space.
2. Check Anywhere You May Have Forgotten Balances
It’s easy to lose track of money in online accounts or on store cards. Check any shop points cards for unused balances (this can usually be done on their website), old bank accounts or pension pots, or sites like PayPal or Amazon for forgotten balances. If you have loaned money to friends and family, ask them if they are in a position to repay you
3. Become a Babysitter
If you have spare time and you’re good with children, you could become a babysitter. If you look after children under 8 for more than two hours a day in your own home, you will have to register with Ofsted, but you won’t need to if you babysit between 6pm-2am.
4. Check What You’re Entitled To
You may be entitled to benefits, tax credits or universal credit without knowing about it. You might be entitled to something if you are: unemployed or underemployed (working 16 hours a week or less), disabled, a carer, 16-19 years old in full-time education, or collecting pension. You could also get help with health costs, rent or mortgage payments, council tax and more. You can find out more by visiting the Gov.uk website, or by getting in touch with one of our GMMAP Advisors.