The 10 top ways to increase your income

In times of recession and credit crunch, thousands of people are looking for ways to increase their income. Consider the following top ten tips to bring more money in:

1.  Rent a room

The Government´s rent a room scheme allows homeowners to receive up to £4,250 a year in rent from a lodger, completely tax-free. You could also rent out your garage or parking space to increase your income.
 
2.  Testing products and services

You can sign up to be a secret shopper with www.retaileyes.co.uk for the chance to make cash from shopping and testing services. You then report back on your experience and an assignment would normally pay around £6 an hour plus expenses. Most jobs can be done during evenings, weekends or lunchtimes and can be fitted around a full time job.

3. Register as an extra

Extras or ´supporting artistes´ for film and TV productions are normally paid between £80 and £160 a day. You can also take advantage of free food and get the chance to see some famous actors into the bargain. Check out www.nasaa.org.uk

4. Online trading

If you have clutter around your house, consider selling it online to make some extra cash. E bay may not be free when selling, but it gives you access to a wide market and if you price your good reasonably in the first place, you can then take into account the commission fee.

5. Use your skills to make money

If you have any marketable ability, use it to make money. You may be able to speak more than one language, or be able to teach DIY, painting or decorating. Whatever your skills are, you could help people and earn some extra money. You can even offer to dog walk or babysit for some extra cash. Advertise in the local free paper or in the newsagent´s window.

6.  Check out a time bank

Thousands of people in the UK have joined local trading exchange systems or time banks which enable members to trade skills and goods using credits instead of cash. Check out www.letslinkuk.net and www.timebanks.co.uk.

7. Grow your own veggies

You can grow your own food in a patch of garden or an allotment. This will not only save you money but you will be eating healthier produce too. If you can´t use them all, see if you can sell some to a local pub or restaurant. Learn how to grow your own fruit and vegetables at www.rhs.org.uk/vegetables.

8. Claim benefits

Make sure you are claiming all the benefits you are entitled to. Billions of pounds in tax credits go unclaimed each year, as working tax credit and child tax credit goes unclaimed. Check if you can claim more benefits at www.citizensadvice.org.uk.

9.  Check dormant accounts

It is estimated over £15 billion is held in about half a million dormant accounts, where a bank or building society has been unable to contact the account holder. Check out www.mylostaccount.org.uk to see if you have any ´lost´ money stashed away.

10.  Part-time jobs

Consider some part time work to increase your income. Working just a few hours a week will provide a valuable supplement to a full time salary or a pension. If you don´t drive, consider cleaning or babysitting close to home, or perhaps offer to pick up friend´s children from school or look after older members of your community. Some stores, such as B&Q, have a policy of employing older people, so never think that opportunities have passed you by.