How to make £50 extra every month

Here, have £50 extra a month. No seriously – it’s all yours. Go on, take it.

OK, it is not that straightforward, but if you can earn an extra £50 a month, that is a whopping £600 a year! There are plenty of ways of making £50 extra a month so here are a few ideas to get you started.

Turn parking into pounds

A driveway, or empty parking space can quickly earn a bit of extra dosh through apps like YourParkingSpace and JustPark.

Storage saving

You can even earn extra cash from unused parts of your house. Hire out space in the loft or spare room for storage with sites like Storemates and Storenextdoor.

Rent a room

Supplement your income by renting out a room in your house. Become a B&B with AirBnB or host a foreign exchange student through EF. Take in a lodger, full time or part time (eg. just weekdays) through SpareRoom. Earnings are also tax free up to £7,500 provided you are resident in the home.

Cash in the clutter

Swap unwanted junk, CDs and DVDs for cold, hard cash through sites like eBay and MusicMagpie  or at your local car-boot sale. Take it to the next level even by picking a collectible niche, such as vintage sewing patterns, toys or crockery and scour second-hand shops for cheap items to sell online.

Turn spare time into money

Sign up as a film extra, answer survey questions for money or earn offers, discounts and prizes as you exercise.

Sell your skills

You could even hire yourself out for an hour or so a week. Services that require minimal setup include gardening, cleaning, dog walking and pet sitting. It is important to remember that any additional earnings you make, may have to be declared to HMRC.