Your Money: How you can make yourself £1,000 in 2023

By Keith Findlay

January 9 2023, 12:01 am

There are all sorts of ways to bring in extra cash. Image: Shutterstock / Krakenimages.com

The new year is typically a time when a lot of people take a look at their finances, and with the cost-of-living crisis adding pressure to household budgets, it’s even more important that consumers make their money go further in 2023.

Consumer champion Which? has come up with some tips to make consumers extra cash this year. Combine a few and they could make you £1,000.

Switch bank accounts. First Direct is offering £175 to new customers who use the Current Account Switch Service and deposit £1,000 within three months. Which? has seen lots of banks introduce time-limited switching incentives over the past year, and expects more to launch soon.
Boost your savings. If you have savings in an account paying a low-interest rate, it’s a good time to shop around. Which?’s guide to the best rates is regularly updated for those looking for instant-access and fixed-term accounts.
Share your skills. It is possible to be paid for skills such as photography or doing DIY. For example, Taskrabbit connects people who need a hand with odd jobs, and those who have the time and know-how to do them. If you’re good at photography you may be able to earn money by selling images online. Shutterstock, Alamy and 123RF pay contributors when their members download.

Why not turn your passion for hobbies such as photography into hard cash? Image: Shutterstock

Sell your old clothes or accessories. A Which? reporter made £160 selling clothes at a car boot sale. Another way to sell preloved items is via secondhand marketplaces such as Vinted, Depop, or eBay. Do some research to see which platform is best, and how much people have sold the same or similar items for. Also factor in seller fees for using the platform.
Make cash from your trash. Old or unwanted items such as toiletries, clothes and printer ink cartridges can be recycled in exchange for money and vouchers. Empty printer ink cartridges can fetch as much as £2.50 on websites such as The Recycling Factory and Inkviro. Some stores offer rewards when shoppers return empty beauty products. For example, John Lewis, Boots and Lush have schemes offering vouchers or loyalty points that can be used towards your next purchase.

Used ink cartridges could be making you money. Image: Shutterstock

Make money from your car or driveway. You can make cash from your driveway or garage by listing it on sites such as JustPark and YourParkingSpace, and renting it out to motorists searching for a parking spot. You can earn anything from £50 to £800 a month. Car owners can rent out their vehicle on apps such as Turo, Hiyacar, Karshare and Getaround. Which? said some people earned £400 a month. Meanwhile, owners of electric vehicle chargers can rent them out via sites such as JustCharge and Co Charger.
Check for unclaimed benefits. More than seven million UK households could be missing out on help and benefits like council tax discounts, pension credit, and Universal Credit, according to entitledto. Which? suggests checking what may be available by entering details about your household into the entitledto calculator.

A spare parking space or electric vehicle charging point outside your home could be earning you cash. Image: Shutterstock

Try cashback sites. Shoppers can claim cashback on their purchases via sites such as Quidco and TopCashback. Retailers may offer cashback as a fixed amount – up to £50 on fridges, for example – or a percentage of the purchase.
Rent out your belongings. You can make money renting your clothes, sports equipment and household items. Prices for renting a dress from By Rotation start from £9. Similar sites include My Wardrobe HQ, Hurr, and, for children’s clothes, Bundlee. You can rent out household items on Fat Llama and Pa-rent. Which? found cameras listed for £35 to borrow for the day, and you can earn £30 for renting out a paddleboard.

Sports equipment like paddleboards san be rented out when you’re not using it. Image: Shutterstock

Flog old books, CDs and even Lego. Sites such as WeBuyBooks and Ziffit allow users to trade in books for cash, while MusicMagpie will also take old CDs, computer games, DVDs and used Lego.
Complete surveys and tasks. Sites such as Swagbucks and Gift Hunter Club pay users to complete short tasks, such as playing games, answering polls and surveys, and watching videos.

‘There are steps you can take’

Which? Money Expert Reena Sewraz said: “Many people are feeling financial pressure at the moment as high food, energy and fuel prices squeeze household budgets.

“However, there are steps you can take that could help you make some extra cash.”