Whether you’re building your emergency fund or need some extra cash for a night out, we’ve all been in situations where we need to make some extra spending money. Before you exert the effort to work for additional income, your first stop should be a budget. This more long-term approach will enable you to plan and monitor your spending over time, with a budgeting app making it easier than ever to get more in control of your spending.
If you’ve got the budget in place and want to top up your income this month, here’s 5 ways you can source that extra spending money.
1. Sell what you don’t need
In an increasing consumer-focused culture, we have whole houses filled with items we’ve bought or held onto but which we don’t necessarily need or use. With clothing prices becoming cheaper compared to our average income over time, our wardrobes are teaming with clothes. Rather than getting frustrated at past spending decisions, instead see these clothes as potential income, particularly if your items still have the tags on. If you’ve been inspired by Marie Kondo, first look at how you can make money from your wardrobe and save the planet, for a more ethical way to make cash from the clothes you no longer use than carelessly dumping them in an overflowing charity bin.
Watch: Simple budgeting with a banana. Post continues after video.
If you’re looking at furniture, you can use local selling websites like Gumtree or Craigslist to snap a few good quality photos, a quick description and wait for the offers to roll in. I would also recommend that you stay safe when arranging to meet people through these websites – bring someone with you and have a look at their buying history through the site so that you’re aware of who you’ll be dealing with. I have used Gumtree whenever I’ve moved around the world and love how easy it is to shift furniture that I can’t take with me – particularly IKEA furniture which has a great resale value.
2. Use your free time
Whether you work full-time or study during the week, most people can find additional free time on weeknights or weekends. You can use your existing skills on websites like Fiverr, which is a great option for creatives, with a range of skills you can make money from using, including writing, editing and graphic design. If you’ve got some experience under your belt, you’re bound to find an audience for your creative skills on this website. Those with digital skills will love Upwork for freelance work covering everything from content creation to programming, so that you can focus on making money from the skills you already have.