5 Ways to Boost Your Income - Broke in London

5 Ways to Boost Your Income

Guest post by Peter Hanson

The cost-of-living crisis is making millions of people around Britain feel the pinch right now. In April, inflation rates fell slightly to 10.1 per cent but food prices reached a 45-year high in March 2023. It all means people are looking to make cutbacks and savings during a difficult time financially. But people are also looking at ways to boost their incomes and there are plenty of legitimate ways to increase the coffers whether that is by selling possessions or working side hustles from home. Here are five ways to do so.

Low-commitment second job

Working a second job is not always easy but there are plenty of companies who offer up flexible hours and don’t require long-term commitment, such as Uber, Just Eat and Deliveroo.

You can fit in working hours around your longer-term commitments, while if you enjoy things like writing or photography you could also look at doing some freelance work in your spare time. Have a scour of the internet for companies with flexible freelance offerings.

Sell or pawn unwanted items

We all have excess stuff around the home that we don’t use and is just cluttering up space and gathering dust.

Old mobile phones and iPads, clothes that you no longer wear or might not fit anymore, and unopened Christmas presents that never got used. Things like eBay, Gumtree and Facebook marketplace are extremely popular and a good way to earn a bit more pocket money.

Alternatively, you could take your items to a pawnbroker or car boot sale.

Online surveys and mystery shopping

While not big-money earners, there are companies online who will pay you for partaking in surveys, or signing up to a market research company will add a few extra quid into your account.

Mystery shopping also offers financial rewards, while you can be paid to eat at restaurants and visit shops so there are extra perks involved with this method.

Download a cashback app

The long and short is that no matter what savings we are looking to make, spending money is an inevitability.

So, why not earn a bit back when you do? Cashback apps such as Quidco sees link-ups with websites where if you visit their sites via Quidco and make a purchase you can make money back on your purchases.

It is not just clothes shops and grocery stores, you can get money back on things like travel and car insurance too.

Rent out free spaces

Do you have space for extra car parking whether in your garage or on your driveway?

Well, don’t just let that space go unused, you can now go online to rent out your extra space and make up to £200 in particularly busy areas of the country – especially city centres. Close proximity to sports stadiums and train stations also tend to be popular.

Additionally, if you have a spare room in your home you may wish to contemplate renting it out and earning some extra cash.