1. Track down old accounts
According to the British Bankers’ Association, there is more than £15 billion sitting forgotten in bank and savings accounts in the UK, with the average balance estimated to be £600.
The good news is that tracing lost funds has become easier with Mylostaccount.org.uk – a free online service that covers all UK bank and building society accounts. All you need to do is to go to the website and type in your details.
How to track down money in lost accounts
2. Claim tax credits
It’s always worth checking that you are receiving all the tax credits you are eligible for. Research by entitledto.co.uk found that people across the UK are collectively missing out on benefits and tax credits worth more than £8 billion a year. So while you’re tracing lost funds, why not visit the entitledto.co.uk website too and work out how much you could claim.
Take a look at our competition page for the latest prizes and giveaways.
Rent your stuff for money
9. Take in a lodger
While most of us pay a fortune for our homes, it’s possible to make your home make money for you.
According to Santander, you could make as much as £289 a month from renting out a spare room. Under the government’s ‘rent a room’ scheme, you don’t need to pay tax on the first £4,250 you receive either, which means you could charge up to £354.16 a month without being lumbered with a tax bill.
10. Rent out a parking space
If you live close to a city centre, train station or football stadium and don’t use your parking space or garage, you’re sitting on a proverbial goldmine. Renting an empty parking place to a commuter or football fan could see you rake in the pounds.
Parkatmyhouse.com is a website where you can advertise your space free of charge and let frustrated drivers get in touch. A parking space in the West End of London, for example, can fetch £500 a month, while in a leafy suburb of Leeds a space could net you £100.
11. Rent your home to film makers
Hollywood can come to your home too, provided you have the right location. If you live in an interesting property, you could bag upwards of £1,000 a day renting your home to film and TV companies. Ideal locations must have large rooms, good parking facilities and understanding neighbours. Ordinary homes are wanted too.
Five ways to cash in on your home
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Get into showbusiness
12. Be a Film extra
If you fancy seeing yourself on screen, film and TV companies are always on the hunt for extras. You could make up to £150 a day and get the chance to meet some famous actors. However, you will need to join an agency first.
13. Model your child
While every parent thinks their child is a star, model agencies could think so too. If you think your little one has what it takes, the first step is to contact an agency to ask about their requirements. You will be asked to send in a head and shoulders photo of your child, either by post or email.
If your child stands out, you’ll both be invited for an interview, to assess if your child is right for TV, photo or film. Depending on the child’s age, shoots pay upwards £50 an hour, but bear in mind that agencies can charge up to 25% commission.
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Sell your unwanted items
14. Auctions
We’re all guilty of hoarding items that "could come in handy one day". But one man’s rubbish could be another man’s treasure, which is why online auction website eBay.co.uk is so successful. In fact, eBay estimates the average British house has about £450 worth of unwanted items that could be sold on the site.
Make cash from your old junk
For more valuable items, it could be worth going to an auction. Jonty Hearnden, antiques expert and presenter of BBC 1's Cash in the Attic and Sun, Sea and Bargain Spotting, says you should contact a local auctioneer if you think an item could be valuable.
"You could be asked to email across a digital photo, which the auctioneer will assess for free, or the auctioneer might visit you at no extra cost to take a closer look - especially if it is a large item," he explains.
15. Car boot sales
If you’d prefer money in your palm instantly, a car boot sale is the place to go. Thousands of people flock to car boot sales every weekend, with pitches costing about £10 a day. To find out where to flog your booty, check out Carbootjunction.com.
Make money from car boot sales
16. Recycle your old mobile
Many of us have an old mobile phone gathering dust in a drawer somewhere, but you could easily turn it into cash, even if it is slightly damaged. Websites such as Mopay.co.uk, Fonebank.com and Envirofone.com will tell you how much your phone is worth. An iPhone 3G, for example, could fetch around £130.
Cash in on your old mobile
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Sell yourself
17. Mystery shopper
If you're longing for some retail therapy but can’t afford to hit the shops, why not earn a few pounds as a mystery shopper? Websites such as Retaileyes.co.uk employ mystery shoppers to drop in unannounced in shops and restaurants and rate their experience.
After you send in your feedback, you’ll be paid for your time and reimbursed for any purchases you made. You could make up to £20 a day, and get a meal or a night in a nice hotel thrown in for good measure.
18. Sell your skills
We all have skills and talents so why not use these to make a few extra quid.
“If you spent years of your life being marched to piano lessons, put the experience to good use in adulthood by advertising your services in the local newspaper as a music teacher, says Laura Howard in her book, CashQuestions.com's 100 Ways to Beat the Credit Crunch.
"Just three hour-long lessons a week could see you up to £60 better off, not to mention the sense of satisfaction you will get. The same applies for languages."
19. Clinical trials for money
Volunteering for medical experiments doesn’t just have to involve taking untested and risky drugs. Some clinical trials are perfectly safe, such as sleep studies, psychological tests and taste testers. Fit and healthy volunteers living in London willing to donate their blood for clinical research, for example, could be paid £60 a time.
But remember, never sign up for anything you are not happy with – risking your health for a few extra pounds is just not worth it. Go to Gpgp.net for trials in your area.
20. Join the Army Reserves
If you’re brave and committed enough to sign up, the Army Reserves (formerly known as the Territorial Army) is always looking for recruits. You would need to give up one weekend a month, attend an annual two-week camp for basic training and be ready to be called to active service.
Basic pay starts at £34.41 a day, but can rise to £112.51. When you meet the minimum yearly training requirement (27 days if you’re in a Regional Territorial unit, 19 days if you’re in a National unit) you receive an extra payment known as a bounty. This increases as you spend more time as a Reserve, so within five years of joining, you could receive an extra £1,600 a year. Go to Armyjobs.mod.uk for details. But it's worth bearing in mind that you could end up being deployed, making this a more serious option than the ones above.
