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6 Ways to make extra cash

By Lauren Leisk, Yahoo!7 Moneyhound Updated November 28, 2012, 9:00 am

Increase your income without changing your lifestyle.


It may sound too good to be true, but you really can increase the amount of money you make, often with minimal effort on your part.


1. Sell, sell, sell!


We’re spoiled for choice with the internet these days – we can sell old books on Amazon, sofas on Gumtree or unwanted clothes on eBay. Use these sites to your advantage and clear out your cupboards on a seasonal basis. Watch trends and post items that are relevant – unwanted gift sets close to Christmas or a pretty sundress as summer arrives.


2. Bite the bullet


You’ve been putting in the extra hours for months and you’re due a promotion, so ask for a pay review. It can be a nerve-wracking experience, but if you don’t ask you won’t receive. Even if you don’t get the full amount, any increase will help out with monthly spending.


Related: How to ask for a payrise


3. Spare space


Depending on where you live, you may be able to rent out anything from a parking space to your garden to your spare room. Rentals can be an excellent source of revenue and many people use it as a second income – not bad for somewhere or something that you can do without. Think about letting out your home whilst you're away on holidays or hosting out of town guests on weekends via websites like airbnb.


4. Work more to earn more


Getting a second job doesn’t mean juggling two offices and working 24-hour days. There are numerous jobs that let you work from home or part-time on weekends or evenings. If you regularly find yourself with a few hours to spare, look into taking on a manageable job that works with your schedule and still leaves you some time to relax. It could be as simple as one shift a week at a local cafe, a newspaper run or walking other people's dogs.


Related: 8 ways to survive if you loose your job


5. Use your skills


If you are a native Spanish speaker or highly trained cricket coach, use your skills and offer private tuition or organise group sessions. Use the internet to find people in your area requiring a specialist with skills and match up with someone needing your help. You could also approach local schools and community centers.


6. Cash back from your cash


You might be saving for a house deposit or a holiday, you might just have a buffer in your bank account for a rainy day. Either way you can make the cash that's sitting in your bank account work for you buy putting it in a high interest savings account.


You might as well earn up to 5% p.a. on any idle funds you have. Most of these accounts are free to open with no minimum deposits, daily access to your money and interest is paid to you monthly - what's not to love?


Compare high rate savings accounts at Moneyhound and open one today.


Moneymaking isn’t just for the rich and famous. You too can increase your monthly income without drastically changing your lifestyle. Be proactive and seek out all opportunities.


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