Tuesday, 3 May 2022

5 Outside The Box Ideas For Boosting Your Savings

With holiday season coming up and the every day cost of living increasing all the time, there's no doubt that most of us are spending a lot of time trying to come up with ways to increase our earnings and give our savings account that bit of a boost!

Over the last few months, we have really noticed that the little bit of disposable income we were once able to send straight into our ISA has now started to be swallowed up by increasing fuel and electricity costs - which means that our rainy day fund is really starting to dry up.

Keen to find a way to fix this, we've been thinking about ways we can increase our income without taking away lots of our family time - here are some of the things we've come up with.

1) Offer Up A Service

Although starting a side hustle can be demanding on your time, there is really little else that has such unlimited earning potential and it doesn't need to be something really draining...why not have a little think about the kinds of every day tasks that you don't mind doing, that someone else might be only to happy to pay a service provider to avoid?

For example, starting an ironing on demand service for your local area could be a great way to bring in extra cash as there are bound to be plenty of time-poor people who would love to outsource that particular task. The same could apply to other household tasks such as laundry. 

Or if you live in a tourist area, how about offering out your services as a local tour guide? 
Whatever your particular interest and skillset, there will no doubt be a market for it somewhere.

2) Declutter Your Wardrobe

Ok so this might seem like a fairly obvious one, but instead of selling your unwanted clothes on Facebook marketplace for mere pennies or paying extortionate listing fees on eBay - it's well worth checking out some of the newer buying & selling apps out there such as Vinted.

They don't charge seller fees and they make it so much easier for users to list items from their phones  I've made £60 in the past month and created loads of space in my wardrobe, ideal!

3) Invest In Cryptocurrency

As I mentioned in a recent blog post,  I had always assumed that cryptocurrency would be something for much more financially experienced and wealthy people but it turns out that it's actually much more accessible than I thought.

It can also give some very impressive returns, for example did you know that investing in Tether can allow you to earn up to 12% tracked daily interest? 

It might seem a little overwhelming at first, but platforms like AQRU make things super accessible and easy to understand as well as allowing you to earn the highest yields from your Tether - can you afford NOT to give it a try?!

4) Sell Your Story

This one is definitely out of the box, but hear me out - there are tons of magazines and newspapers who regularly offer money for readers true stories. I've sold various stories to magazines and newspapers over the years, and have been paid anywhere £200-£500.

The story doesn't even need to be something super dramatic or out of the ordinary as these magazines are always looking to fill space - you'd be surprised at what a journalist can make into an interesting story so get thinking!

5) Try Life Modelling

For those are body confident, have you ever considered selling your body?! No no, not like that - I'm talking about offering yourself up as a life model for local art groups.
Life modelling usually pays around £10 per hour, and with each class lasting around 3 hours it can be a good way to earn a bit of extra money while also giving you an opportunity to boost your confidence and contribute something to modern art! Why not, eh?!

I'd love to hear your thoughts and ideas on unusual ways to give your savings account a boost!

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