Understanding your own financial goals is the first step towards building a comprehensive financial plan for both you and your family.
There are several ways an individual can make money by making simple changes to their current lifestyle. Taking care of your finances doesn’t have to mean cutting back, and adapting your expenditure to compliment your lifestyle can ensure you keep a constant stream of positive cash-flow.
# Switching Your Current Account
Many individuals keep their current account, simply because they are comfortable, and find the thought of switching to be too much hassle. There are several banks that offer great switch rates for new account holders. Many individuals find that the fee’s they wrack up on their current account are much higher than the original “fault” they were fined for, in this way, bank charges can often push individuals into negative equity. Switching to a new current account can often provide you with a great introductory interest offer, as well give you any benefits that are assisted with opening a new account.
# Wear Branded T-shirts
This one may sound a little off the cuff, but many businesses will actually pay you to wear their logo on your clothing, if you agree to speak about the brand. Of course, the amount of money you gain from this will vary, but in 2005 Jason Sadler approached multiple companies with this exact idea. Needless to say the advertising idea worked and he now earns a great $500,000 a year.
# Scrap Metal
Sometimes there are several ways to make money right before our eyes that we just can’t see. Many people have scrap metal parts around their homes, or tucked away in their garages that they simply forget about. Selling your scrap metal parts to your local garage or recycling centre can provide you with your much needed funds quickly, without any need to wait through an application process, or have your credit score checked.
# Claiming Back PPI
Many individuals are still unaware that they have been miss-sold PPI. Banks have put aside millions of pounds to repay those that were sold PPI along with their loan, without them knowing. Individuals may not know they were miss-sold PPI, but a few simple checks with a reputable claim back company can guide you through the application process, smoothly and efficiently, without the hassle of multiple phone calls and correspondence.
# Utilise Your Skills
From dog walking to ironing, cat sitting to car cleaning, there are several tasks in and around the home that multiple individuals will pay others to do. You won’t need an up to date CV, and a quick and casual chat about what they expect from you and how much you would like to charge for your time will usually secure you the job. Try putting up adverts in your local shop or newspaper to advertise your services, or simply ask friends and family if they require any additional help in exchange for a small fee.
The online world has exploded in recent years, and video blogging platform, YouTube has thrown multiple individuals from all walks of life in to the spotlight, consequently boosting their bank balance too. People love to watch those that are passionate about a subject they are interested in. Whatever your forte, from gaming to makeup, gardening or healthy living, YouTube has space for it all. Some of the most popular YouTubers are earning thousands in one month, as well as securing books deals, makeup lines and even bringing out their own merchandise. Just set up a camera, edit and upload!
# Rent Your Space
Do you have a driveway, a garage, a plot of land or even unused office space? Selling space is an easy way to make money, without having to commit to any extra tasks, or even give up something you enjoy spending money on. Many people fill up space they own with unnecessary items, but advertising in local shop windows, or even in the local newspaper can present your offering to multiple people in your immediate vicinity.
When your money doesn’t quite stretch over the entire month, it can feel that there is no way of boosting your income without already having money upfront to invest. Not all money making ideas will get extra money rolling in straight away, but short term endeavours can prove profitable and easy to fit around existing jobs and commitments.
We all plan differently, and whether you’re a pen and paper list maker, a post it fanatic or a calendar lover, writing down your budget plans can help you prioritise, as well as put in to perspective the importance of each of your current outgoings.
Evie Nash is a Content Executive for PPI. She sticks by the motto: ‘live simply and give generously’. When she is not typing away at her desk, her idea of the perfect day consists of a long country walk followed by an evening under the stars eating tapas with her husband of 30 years.