Taking out a payday loan can feel like a way to sort...
6 ways to find unexpected cash
We’ve all done it – stuck our hand down the back of the sofa to find a slightly fluffy coin or two! It might only be 20p, but when you’re living on a budget every little helps.
There are other ways to land extra cash, ones that don’t involve searching down the back of furniture for coins.
Here are our top six…
Forgotten bank accounts
Remember when you opened that bank account as a kid? You diligently paid in your paper round or babysitting money for a few months and then promptly forgot about it. We’re not saying it’ll be worth millions today, but it is your money and it would be nice if you could track it down.
My Lost Account is a service brought to you by 43 banks and 47 building societies; it also helps search for lost, misplaced or forgotten National Savings and Investment bonds. It’s estimated that £850 million is lying unclaimed in lost and dormant accounts.
The service is completely free and can take up to three months to complete. You will be expected to provide some documentation as proof of your claim.
You can help reduce your debt by reclaiming mis-sold payment protection insurance (PPI). If you think you were sold mis-sold PPI by a bank in the past it’s definitely worth reading why claiming PPI could be a scandal for those in debt.
It’s important to avoid the pitfalls and it’s easy and straightforward to reclaim mis-sold PPI yourself.
Don’t believe it’s easy to reclaim? Listen to this one minute advert from Martin Lewis (MoneySavingExpert.com) and Richard Lloyd (Which?).
Tell them what you think
Finding extra income isn’t all about taking money back from the bank; it can often involve a bit more leg work. A lot of people make a little extra cash by signing up to survey sites. We all love to give an opinion, and this way you get paid for it too!
Sell sell sell
Another way to find extra cash is to utilise what you already have. Have you got any unwanted items that you can sell on eBay or Gumtree. Even better why not copy our American cousins and organise a garage sale? It’s a good way to clear out clutter and you also get to know your neighbours a little better in the process.
It’s also worthwhile keeping on the lookout for local car boot sales. These are great fun in the summer and you might even pick up a few bargains for yourself.
Park your cash
Consider renting out your drive, garage or car parking space with Park on My Drive, Parklet or Your Parking Space you don’t necessarily have to live near a major attraction or a city centre to make this profitable. Visit the sites and give it a try; there could be extra cash quickly parked into your bank account.
Grab a grant
One other thing that is often forgotten about is the availability of grants for particular sets of circumstances. It’s always worth browsing Turn2Us to see if your circumstances qualify you for any extra cash.
We hope this gets your mind racing and helps put some extra money in your budget. Lastly, don’t forget about us; we’re here to give help, advice and support while you’re on your DMP.
If you’ve got any questions email us or give us a call. If we can’t help we should be able to point you in the right direction.