24 money-making tips for 2024 - how to make £100k in the year ahead
January can feel like the longest month - not only are many of us trying out new healthier regimes after an over indulgent Christmas period, money tends to be much tighter too. But don’t worry if you’re looking for new ways to make money in 2024, there are plenty of options to choose from. From spotting properties to making money from renting out your sports equipment - the Mirror has come up with 24 ways to make more money in the year ahead.
Rent out household items
One of the easiest ways to make money is by renting out items you already have in your home. Research from found some savvy Brits are making a whopping £5,000 a year renting out household appliances, sporting equipment, hairdryers and straighteners, outfits for special occasions and even furniture via sites like fatllama.com or rentmy.com.
Take the Amazon turn £200 into £100k challenge
The Amazon £200 to £100k challenge was created by Des from the popular YouTube channel Goodbye Poor Hello Rich. Des’ plan is to use Amazon FBA (Fulfilment By Amazon) to distribute products through Amazon to all its shoppers which may mean you will have to look into buying external storage for the stock at some point.
Spotting a derelict building could earn you £10,000 (Andrew Teebay Liverpool Echo)Earn up to £10,000 spotting derelict properties
YouSpotProperty gives you the chance to earn up to £10,000 by hunting out derelict properties that can be sold onto developers. Users who report a property meeting the criteria will get a £20 gift voucher but they’ll get one percent of the selling price further down the line if the deal goes ahead, up to a maximum of £10k!
Turn your knowledge into a course
Whether you’re a tutor or a tradesman, have you thought about monetising your knowledge by turning it into a course? Many bloggers explain how to do this and sites like Thinkific can help walk you through the steps. Once it’s up and running, it could be earning you money while you sleep.
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Sell your pre-used kitchen
Selling household items is nothing new but what about selling your pre-used kitchen through ? Rather than sending your old one to the tip, customers can sell their pre-loved kitchens and make money. Or, if they're after a lovely new one they can find a high-end, ex-display one on the online platform and also save £1000's.
Make money from old phones
We all know selling your old phone could help you make a few bob but now it’s easier than ever! Some 294 Asda stores now have SMARTDrop kiosks installed by musicMagpie meaning customers can get paid for their old devices instantly. Obviously, it will depend on the condition, but you can expect to receive £175 for an iPhone 11 (128gb).
You could earn up to £1,500 a day hiring out your house to a film crew (Liverpool Echo)Hire your house out to a film crew
You don’t need to own a mansion to rent out your home to a film or TV crew for a day and some agencies may be looking to just use the exterior. Websites such as Amazing Space claim you can earn up to £1,500 a day depending on the property and whethere there is access and parking for a number of vehicles.
Consider cashback
Cashback sites mean you can save money when you spend and most are completely free to use. Try cashback.co.uk and quidco - on average, TopCashback members save £300 a year by shopping through the site.
Invest in clean energy
If you're thinking of investing in 2024, then why not go green? Finn Wheatley, a financial expert and risk analyst at , says: "Five years back, I started putting part of my retirement savings each month into the iShares Global Clean Energy ETF. Since then, it has consistently done better than the overall market year after year as green solutions have grown worldwide."
Start a side hustle
There are so many to choose from so the best advice is to do your research and opt for something you’re passionate about. Diets are popular right now and Katy at 121resultswithkaty earns £6,000 a month for 50 hours work promoting the 121 diet.
Shop around to find cheaper deals including ones on petrol (Getty Images)Pay less for petrol
Shopping around for the best prices should include paying less for petrol, especially if you use your car a lot. Try the to find the cheapest petrol station near you and fill up for less.
Hire out your car
If you don’t use your car every day then why not hire it out and make some money back? Daniela, from London, has made £700 a month since joining Turo, hiring her car out for between 10 and 15 days a month, which allows her to still use her car on the days she needs.
Consider your savings options
Don't just leave your savings in your current account, let 2024 be the year you open a designated savings account. A good place to start is an instant-access savings account, which means you can pay in and take out money whenever you need to. One of the best rates currently is with Metro Bank which is offering 5.22% for the first year.
Savings pots can help save money for Christmas, birthdays and holidays (Getty Images)Create pots for special occasions
It doesn’t matter whether you do this online through an app or in real life, but creating savings pots for specific occasions like Christmas, birthdays and holidays is a great idea. Most online banking apps allow you to set up unlimited pots and automate the amount you put in each one each month or if you prefer get some glass jars and put labels on them. Saving £20 a month works out at £240 by the end of the year.
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Turn on round-ups in your banking app
Most banking apps now have a round-up feature and turning it on could help you save. If you spend £3.70 on a coffee three times a week, your bank will round this up to £4. They’ll automatically put the 30p difference into a separate pot which, over a year, would add up to an extra £46.80. According to Monzo, its customers saved an average of £129 a year by using round-ups.
Sign up for loyalty card schemes
Research by Which? shows signing up for a Tesco Clubcard could save you 6% on your shopping, while Co-op claims its loyalty scheme could save regular customers up to £300 per year. These days, most loyalty schemes offer digital versions, so you don’t need to carry extra cards around in your purse or wallet.
Earn between £20 and £80 an hour tutoring online (Getty Images)Become an online tutor
Online tutoring is a great way to earn some extra cash on the side, you could earn between £20 and £80 an hour via sites like superprof.co.uk or mytutor.co.uk. It’s not just academic tutors they are looking for but also people who specialise in arts and craft and health and wellbeing.
Ditch cards for cash
Cash payments are making a comeback in the UK and it’s easy to see why. Paying for everything with a swipe of a card can lead to overspending but one way to cut back is to draw out a weekly amount and pay for everything with notes and coins. A simple change like this could save you up to £250 a month.
Look for forgotten cash
My Lost Account is a free service that helps you trace your lost accounts and savings and the pension tracing service does the same for pensions. Almost half a million (430,000) young people are thought to have unclaimed Child Trust Funds (CTF) which could be worth around £2,000.
Earn extra money as a TV or film extra (Martin Burton/SussexLive)Become a film or TV extra
Fancy yourself as the next James Bond? If you’re not a slave to the world ofnine to five then why not sign yourself up with an agency? The standard pay for an extra can vary anywhere between £80 to £120 per day and although the days are typically long, it can be a lot of fun.
Sell your skills
Whatever your skill set, it’s now easier than ever to sell your skills online through sites like Airtasker, TaskRabbit and Skillshare. People are often looking for help with DIY, cleaning or learning an instrument like playing the guitar. Some people treat it as a way to work full time and earn over £2,000 a month.
Rent out a room/take in students
Anyone can earn £7,500 a year tax free from renting out a room, whether you choose to airbnb it, take in a lodger or host foreign language students. If you live in a city like London, Bristol or Manchester, providing bed and breakfast to students learning English could earn you up to £1,500 a month.
Homesitting
It won’t earn you a fortune but if you’re looking for a lifestyle that offers both relaxation and the adventure of discovering new places then home sitting could be for you. who carry out a week’s homesit with no pets can get £87 per week (the pay rises with each pet) and the average working time per day does not exceed 1.75 hours per day.
Sell your unwanted Christmas presents
How many of us received a Christmas present this year that they just won’t use? Rather than shoving it a way in a cupboard list it on a site like Facebook Marketplace and earn some money. January is a great month to declutter the rest of the house too, sites like Vinted and Depop are popular when it comes to selling clothes.
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