10 WAYS YOU CAN MAKE AN EXTRA £500 BY THE SUMMER

There are endless ways to make money that require little effort, from switching bank accounts to caring for a neighbour’s cat.

If you start now, you could earn an extra £500 by the summer, which you could put towards a holiday, a DIY project, or a savings account for a rainy day.

1.Pause your subscriptions

If you’ve finished Severance and binged Squid Games, why not pause or cancel your subscriptions?

In two months, you could have an extra £43 (from pausing Apple TV and Netflix).

It’s also worth checking what you’re paying for, what you’re using, and what else you can cancel.

According to Citizens Advice, we spend around £688mn annually on accidental subscriptions, usually after a service auto-renews.

2.Rent your driveway

If you have a drive or an unused parking space, you can list it on a website like JustPark and charge people to use it.

Prices vary depending on where you live, with locations in city centres and near train stations attracting higher price tags.

In zone three in London, for example, you could earn between £160 and £197 per month, while in Manchester, you could earn between £113 and £138.

Always check the terms and conditions of any website you’re joining so you know what fees apply, what insurance (if any) is provided, and what help you have if something goes wrong.

3.Use cashback websites

By using a cashback website like Topcashback or Quidco, you can get paid to do your shopping, if you use the link provided by the site.

Read Next: How to build a savings pot from nothing – with one in 10 yet to save a penny

Deals change regularly, but right now, you could earn up to 15 per cent cashback via TopCashback when buying train tickets through Trainline.

If you have time, always check a couple of sites to ensure you’re getting the best cashback rate.

4.Consolidate debt

If you’re paying off several expensive debts, a debt consolidation loan can save you money.

This is a way of combining multiple existing debts into one new loan.

People switching to a lower interest loan via the Experian credit comparison site, for example, save £139 per month on a debt of around £8,500. Over a 36-month loan term, that’s a saving of over £5,000.

John Webb, consumer expert at Experian, says: “Debt consolidation might be a good option for many people looking to reduce their existing monthly repayments.

“It could be a great way of taking control of your finances, simplifying your repayments and helping you clear your debts more quickly.”

Use a free eligibility checker first, which won’t impact your credit score, to see how likely you are to be approved for the loan.

5.Earn money for your opinion

There are several big market research companies, such as Saros or Research Opinions, where you can earn money from giving your views or testing out new things. Prices vary but are around £40 to £100 for two hours.

You can also earn money from filling out online surveys, which pay in cash or gift vouchers. One of the most well-known is Ipsos iSay, and it lists potential opportunities on the website.

6.Sort your stuff out

Before you throw out your old junk, check a reselling site to see if you can make some money.

There are customers for just about anything, and you may be surprised by what you can sell.

Clothes, jewellery and toys may be obvious – and Vinted, eBay and Facebook Marketplace are the most popular sites to use.

But many weird and wonderful items can also be sold. Recently, a used Samsung TV remote sold for £8 on eBay, along with an empty Jo Malone candle for £14 and a box of 20 toilet roll holders for £5.

7.Cat sitting

You can earn around £25 for popping in on a stranger’s cat and carrying out duties, including putting food and water down and clearing out the litter tray.

Websites such as Cat in a Flat list potential opportunities near you, and you set the price for visiting a cat and staying overnight, if required.

Before you sign up, always check what protection is in place for you as a cat sitter – such as insurance if something happens to the pet – and only sign up if you’re happy and willing to carry out the required jobs.

8.Switch banks

Great perks are on offer for switching current accounts, including £175 from First Direct and £150 from Natwest.

You will need to meet the bank’s criteria, such as putting a minimum amount of money into the account each month and setting up a few direct debits.

Kara Gammell, personal finance expert at MoneySuperMarket, says: “Switching to another current account can be an easy way to get some extra cash. Always compare account features and benefits when deciding on whether to switch, including monthly fees, interest rates, cashback, fee-free card use abroad, and money management tools.”

9.Start the 50p challenge

Even though 50p doesn’t seem like a huge amount, in two months of embracing the 50p savings challenge, you could save £1,189.50, says Rajan Lakhani, head of money at Plum.

“All you have to do is start with 50p and every day increase the amount you save by fifty pence, so, on the second day, you’ll save one pound and the third day one pound fifty.

“Obviously, this challenge requires you to put aside a lot of money towards the end, but to make this savings goal more attainable, you could take part with your partner,” he explains.

10.Ditch your energy provider

Energy prices have gradually started to come down, and it is now possible to save money by switching providers.

According to Moneysupermarket, a fixed-rate tariff may be cheaper than the energy price cap, and switchers can save an average of £162.

However, it is worth considering that standard variable rates may come down during the course of your fixed deal, which you will likely have to pay to exit.

2025-05-17T05:31:07Z