The vast majority of us would say that we struggle to get by most months. And it makes saving up for things like Christmas, holidays, or high-cost items such as cars an almost impossible task. But, if you are struggling to get by on your household income, are you sure you aren’t missing out on some free money?
There is a multitude of different ways UK citizens are missing out on massive amounts of money, and all it takes to start reclaiming it is a little hard work and learning where to look.
In this guide, I’m going to go through a few ideas of how to find free money – and hopefully give you a chance of getting a nice lump sum to contribute towards your holiday, new set of wheels, or even a deposit on your first home. Let’s take a closer look.
Shop around for utilities
Want to make an instant impact to your income without doing extra work? Then start shopping around for all the services you use. It’s possible to save a small fortune every year – up to £500 in some cases – just by switching your electricity and gas suppliers.
Could you find a cheaper phone contract? If you don’t bother upgrading your phone, you might be able to save £2-300 every year. Cancelling your Sky or Virgin TV service can save you a four-figure sum, too – why not give it a go and replace it with Netflix, Amazon Prime, or Now TV?
There’s no reason why shopping around and streamlining your services can’t save you somewhere in the region of £1-2000 – a great start for a fantastic holiday fund.
Check your banking records
According to reports, British households are leaving billions of pounds-worth of assets in ‘zombie accounts’ – old bank accounts that are no longer in use.
There’s mis-sold PPI claims to consider, too – and many people who put in a payment protection insurance claim get four-figure sums paid back. It’s worth checking out, as it doesn’t have to cost you a penny – it just takes a little hard work and dedication.
Go through your old stuff
Are you something of a hoarder, who finds it hard to get rid of anything you buy? If so, why not change your habit of a lifetime and start being more ruthless – you could be sitting on a small fortune.
I’ve spoken of the potential of old vinyl record collections being a possible gold mine, and vintage toys from the 70s, 80s and 90s also go for ridiculous sums on eBay and auction sites.
Antique furniture is another possible source of a fantastic haul – as are first edition hardback books.
As a final point – I’m not saying you should get rid of all your most loved possessions, but if your old stuff is just sat there gathering dust, why not make the most out of it and put the money towards something more useful, exciting, or memorable?
*This is a collaboration post