The cost of living is going up – sometimes it seems by the second – which means that some people are struggling to cope. Not surprisingly, many people are turning to new and inventive ways to increase their income. Here are a few ways you can use your home to make money, or make some cost savings:
- Rent out a room – renting a room to someone can help pay towards your mortgage, as well as your household bills. Under the governments rent-a-room scheme you can earn up to £4,250 a year tax free or £2,125 if letting jointly..
- Rent a parking space – if you have a parking space that you are not using, and you live close to an airport, train station or office block, then you could advertise your parking space in return for payment. Some people can earn up to £500. Those living close to Wembley Stadium can earn up to £17 during an event.
- Storage room rental – if you are not keen on having a lodger, then why not rent your spare room for storage, or even rent out your garage?
- Offer your home for TV appearances – TV companies are always looking for homes they can film as part of a programme. You can register on various websites. Fees can be as high as £1,000 a day if your home is featured.
- Grow your own vegetables – this does not necessarily make you money, but it could save you some. All you need to do is find an area of your garden to turn into a veg patch and you can get started.
This article was checked and deemed to be correct as at the above publication date, but please be aware that some things may have changed between then and now. So please don't rely on any of this information as a statement of fact, especially if the article was published some time ago.