Money Savvy Series: Boosting your income

Welcome to our second instalment of the Money Savvy series where this week we will give you some ideas on boosting your income!

Last week we gave you some tips on how to overhaul your finances, make your money work for you and get to grips with your financial situation.

This week we will be exploring the idea of boosting your income by selling items that you have already got and don’t use. 

As they say, one man’s trash is another man’s treasure, so let’s explore the options available to you to boost your income and declutter your life in the process!

Ebay

Everyone must have heard of the selling site by now and you can get some real gems on there if you look hard enough. 

The same goes for selling – there will always be someone out there who is looking for second-hand clothes that you no longer wear, kids’ clothes bundles, furniture, books, etc. Ebay is the selling site that usually pays the best in terms of how much commission is taken out by the site and if you are willing to take the time to upload images and write descriptions, then this is a great way of decluttering your life and boosting your income. 

Facebook

Facebook Marketplace is a very popular way to get rid of unwanted items. People have harnessed the power of social media and placed their second-hand goods on the site to sell to the local community (or beyond if you are willing to travel).

The best bit is that there are no fees so no commission is taken out and you get to keep all the profit! You do need to be a Facebook user in order to access Marketplace.

Music and gaming selling sites

There are sites out there that let you trade in old CDs, DVDs, books and computer games for cash. Yes, it can be time consuming scanning in all the barcodes but it will be worth it when you have that cash in your hand and a decluttered space! 

• WeBuyBooks is a great site where you can trade in your books, DVDs, CDs and games
• CeX offers cash or store credit for trade ins and covers DVDs, CDs and games
• Ziffit covers books, CDs, DVDs and games
• GameXchange is great for those retro games that you may have uncovered
• Music Magpie is quite well known and covers books, CDs, DVDs and games

Sell your old books!

Did you know that you can sell your old books on Amazon Marketplace?

This is one of the best options for selling old books because you only need to search for the book and write a short description. That listing then stays up on the site until it is sold. 

Amazon Marketplace allows you to list up to 35 books a month for free but they will charge 75p per book plus 15% of the total price paid. If you have a lot of books or cannot bear to wait a few months to get rid of your stash, then there is an option to pay a subscription. 

Get rid of those bricks!

We’re talking LEGO! If you have lots of bricks lying around in the attic then sites such as Music Magpie will buy them off you by the kilo.

Alternatively, if you had dreams of being a collector that never really materialised but you still have a few unboxed LEGO sets or figures, then get them on Ebay! It’s a case of your childhood games now boosting your income!

Turn your rubbish into cash

Yes, you have read that correctly. There are people out there (usually from the arts and crafts world) who are willing to pay money for your rubbish. Think glass jars, empty perfume bottles and pots, loo roll tubes and buttons!

Say YES to the dress!

If you still have your wedding dress in storage and are willing to part with it, then you could sell it for over £500.

First check Ebay to see if there are any similar or the same dress on there and see what others are selling it for before you set your own price. Then google wedding dress sites – there are many out there who will help you to market the dress to buyers. There are also many preloved clothes sites that are really popular such as Preloved, Gumtree, Vinted and The Dressmarket. 

Old rags to glad rags

We have all got old clothes languishing at the back of a wardrobe or in the bottom of the drawer. Have a sort out, bag them up and sell them to a ‘cash for clothes’ company. 

Some of these companies will buy more than just clothes – accessories, bedding, towels and shoes are also accepted. 

For individual items, you could sell them on preloved sites which may earn you more. 

All that glitters

Ever thought about selling your old gold? 

There are companies out there who will buy your gold off you, melt it down and then sell it on for more. 

There is a caveat with selling gold – gold prices fluctuate so always bear this in mind. 

We hope that the above has given you some ideas on how selling the stuff that you no longer want helps in boosting your income.

Make sure you come back next week for the next instalment of tips on how to be money savvy and make your money work for you!