When money is tight, your first thought might be to seek extra employment, or even to take out a loan. But what if the answer can be found closer to home?
We have compiled some easy ways you can make money from the things under your roof.
First off, consider selling items you don’t use anymore. Take a look in your wardrobe; are you hanging onto certain clothes even if they don’t fit you? Or perhaps they just hold sentimental value? If so, it might be a better idea to sell them onto someone who will get more wear out of them.
This same logic can be applied with unused DVDs, electrical items, music records and more. You may be surprised at the value of old items gathering dust in your attic – take a look at our handy guide on finding rare valuables in your home.
When it comes to shifting your unused possessions, eBay and Depop are easy-to-use websites. But if you fancy something a bit more traditional, find your local car boot sale.
If you own a particularly luxurious item, head on over to second-hand designer website Vestiaire Collective. With over seven million members worldwide, it is a safe service which can land you quid’s in if your Chanel or Gucci bags are sat gathering dust.
Do you live in an inner-city area, or near a sports stadium, concert hall or airport? If so, you may be surprised to know that you could make money by renting your private driveway.
Websites such as JustPark, Park On My Drive and Park Let allow users to list their private parking areas to strangers who are visiting the area on an ad-hoc basis.
It’s usually free to list, and you can stipulate the times when you’d like to hire out your parking space.
For example, if you work 9 – 5, Monday – Friday, you can list your driveway during these times and make money when you’re away from your home.
Don’t just reserve your spare bedroom for guests, as you could be sitting on a goldmine. House sharing site Airbnb has shaken up the hotel industry, making £657 million pounds for hosts in the UK alone.
So, if you’re interested in hosting your spare room on a short-term basis, this might be the way to do it. However, if the prospect of a carousel of guests doesn’t appeal to you, you might want to look for a more permanent tenant.
Sites such as spareroom.co.uk are a great way to do this, and if there is a lot of interest you could arrange to meet with all the prospective tenants so you can choose who you prefer.
If you’re interested in listing your property or rooms on a home sharing site, make sure damages by paying guests are covered by adding Host Insurance to your Admiral Home Insurance.
Making money doesn’t have to be just about saying goodbye to all your favourite items. In fact, rental sites such as Fat Llama let you rent out your belongings on a daily or weekly basis.
The items that are rented out by people across the country vary from bicycles to wedding dresses, from children’s toys to musical instruments. If you have items in your house that you simply can’t bear to get rid of, renting it out on the likes of Fat Llama is a great alternative.
If you don’t have hordes of items packed away which you can make money from, consider utilising your storage space and renting it out to those who need it. Storemates is a site which lets you advertise any unused space in your home such as your attic, spare room, garage or shed – any place that you can store belongings.
There are no hidden costs, and listing your space on the website is completely free. All you have to do is list your item, and then wait for the requests to come in. Once the rent is agreed, you’ll receive the rent directly into your bank account.
For more ways to save money, check out more of Admiral’s money guides.
26 Mar 2018
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08 May 2019