As the cost of living crisis worsens, many people will be looking for a quick ways to pick up some extra cash before Christmas.
Research from Oxfam showed that more than a third of shoppers said they will spend less on gifts this years in the wake of soaring energy prices and a rise in inflation. Many are cutting back in any way they can, including avoiding putting the heating on, to make sure they've got enough cash for Christmas.
As the countdown to Christmas continues, shoppers will be feeling the pressure to tick things off their shopping lists. Which? have compiled a few ways you can make some extra cash before the festive season.
READ MORE: Woman who loved bodybuilding loses 40 pounds as mouldy flat 'makes her ill'
Switch bank accounts
Many banks will offer you a bonus for switching your account over to them, so this can be a great way to get a bit of cash. Just make sure you check the requirements for the account, like how much you'll need to put it any, and any fees it requires to avoid losing out on money in the future.
Here's a few options:
HSBC's Advance or Premier accounts: You can get £200 when switching with the Current Account Switch Service (CASS), with at least two direct debits or standing orders. You must deposit at least £1,500 into the account within 60 days of opening it. But, you can't have held an account with HSBC or First Direct since 1 January 2019.
Nationwide FlexPlus, FlexDirect, or FlexAccount: Customers can get £200 when they switch with at least two direct debits. To qualify for the bonus, this has to be the first account you have held with Nationwide since 18 August 2021.
First Direct 1st Account: You can get £175 if you're a new customer and switch to a 1st Account. You must use the CASS to switch, and deposit £1,000 within three months of opening the account. You must be a new customer to First Direct, and cannot have been an HSBC current-account holder on or after 1 January 2019.
Halifax Reward Current Account or Ultimate Reward Current Account: If you switch before 19 December you can receive £175, which will be paid within three days of completion. This is available to new and existing customers, as long as you haven't received a switching bonus from Halifax before. You'll need to switch using the CASS, bringing all of your direct debits with you.
Earn cashback where you can
There are a few ways to get cashback, including online cashback sites, cashback credit cards, and banks offering cashback. You can check online sites like TopCashback and Quidco to see if they are partnered with the retailers you're planning on buying Christmas presents from. If they are, you can get some money back from the purchase.
A cashback credit card pays a percentage of what you spend, and this is paid either as a credit on your bill (cancelling out some of what you need to repay), or straight into your bank account – this could be monthly, quarterly or annually. There aren't as many options available as there used to be, and it's best to pay it off each month to make the most of the rewards.
Some current accounts will also offer cashback on transactions, including Santander's Edge cashback accounts, which lets you earn up to £20 back per month. Be sure to check what limits and requirements these accounts have to make sure it's the best choice for you.
Life through a new lens. We are Curiously. Follow us on TikTok, Instagram, Facebook and Twitter.
Trade in unwanted items
It's the best time of year for a de-clutter, but before you throw anything away, think about whether it could be worth anything. Old smartphones, laptops, and even TV remotes and cables could be sold on eBay, Facebook Marketplace and Gumtree. Bear in mind that some sites charge a fee to sell on their platform, so make sure it's worth selling an item.
You can also get rid of old toys, books you've already read, and clothes that don't fit or that you don't wear anymore. Toys can go on WeBuyGames and Preloved. Sites such as MusicMagpie will even buy old Lego bricks by the kilo. Books can go on WeBuyBooks.co.uk and Ziffit.com, and everyone knows about Vinted or Depop for clothes.
House or pet sitting
Sites like TrustedHousesitters can match up home and pet owners with willing sitters, so if you're able to leave your home to look after someone else's this can be a great option. To do this, your housesitting credentials will need to be verified, and you'll receive reviews each time you do it.
Mystery shopping and dining
Mystery shopping involves trying out businesses or services as a 'normal' customer to make sure standards are being met, and you'll be paid for your time. It could be as simple as visiting a shop or restaurant to see how the staff treat you, or calling a helpline and testing the customer service, then reporting what you find.
You can check out Mystery Shoppers or Market Force if you're interested in this and see what assignments are on offer.
Test new products
You can get some amazing freebies by testing products for companies to ensure they work, or if they'll be popular with a target group. Just provide some honest feedback through sites like Clicks Research, Toluna and the Boots Volunteer Panel.
Reclaim lost cash
There are currently billions of pounds sitting in dormant accounts including current accounts, savings accounts and premium bond winnings. Often, this happens when people move house without letting the provider know their new address.
If no activity occurs on your account, and you don't respond to communication from the bank, the account will be classed as dormant. If you think you might have a dormant account somewhere, services such as Gretel and My Lost Account can help you track it down.
READ NEXT:
-
Boy, 15, was last seen at bus stop on Queens Drive 35 years ago
-
Family forced to huddle together in same bed after heating and hot water turned off
-
Children lying all over the floor at 'full capacity' NHS treatment centre
-
Full list of Merseyside postcodes DPD has stopped delivering to
- Murder suspect says she didn't know 'drinking partner' was hurt until ambulance arrived
