Six ways your possessions can earn you more cash

We all know that life shouldn’t be all about how much money you have – it’s about making memories, spending time with loved ones and, most of all, having fun. But sometimes, to be able to do those things, you just need that little bit of extra cash. But instead of spending all your time working overtime and missing out on some of the important things in life, have you thought about how you can make your possessions make money for you? Here are a few tips on making the most of what you already have.

Rent out a room with Airbnb

The most expensive thing we ever buy is our house – so why not see if you can use your spare room to earn some of that money back. Clear out all the clobber and give the walls a lick of paint and you have a very handy little earner right there. People look for all kinds of short-term accommodation on Airbnb – including just a spare room. And, if you sign up to be a host, you can earn over £1,000 a month, depending on where you live. Obviously the more luxurious you keep the room and the experience (think about putting a small fridge with breakfast in the room, toiletries, or even access to an en-suite) the more you can charge. You remain fully in charge of who you rent the room out to, when, how much you interact with them, and you can set house rules.

Make money from your car

Another expensive item you’ve invested in is your car. You might not have considered it, but your car is a great way to gain extra income. You can rent it out if, for example, you use it to drive to work but it sits there idle all weekend. Try easyCar.com – it works a bit like Airbnb but with your car: you can set your own terms and the cars will be insured for the agreed rental period and have breakdown cover as standard so you have peace of mind and your own insurance won’t be affected. Listings are free and you can earn up to £3,000 per year. You could also consider renting out your parking space or garage if you live in a busy city where parking is a premium (and you can really hike up your prices if you live near a stadium or shopping centre). Or why not try a logbook loan? This is a system whereby you transfer ownership of your vehicle (but don’t worry – you still have full access to drive it) to a logbook lender, such as Car Cash Point, as security for a loan of up to £100,000.

Sell things you don’t want online

There are so many options now to get rid of bits and bobs you no longer want from old clothes, DVDs and CDs to furniture and toys. Make sure things are in a good condition and take a photo or two and upload these to your chosen site. There’s Amazon marketplace, Gumtree, eBay and Facebook marketplace – have a browse and find which suits you. The best thing is you are in control; you can choose the prices you’re willing to sell at, if you’re happy to post them or if you’d rather they were collected. You can build up a good reputation on these sites by offering good customer service, being honest about the things you are selling, being reliable and quick to get the goods to their new owners.

Find a local car boot sale

Maybe online selling isn’t for you or you have some more specialist items that you want to handle the sale of yourself. Car boot sales are still a great way to flog unwanted things. Antiques experts and eagle-eyed regulars frequent them to sniff out bargains so you might be able to sell Great Aunt Mildred’s tea set for a pretty penny if you get the right customer. CarBootSales gives listings of sales across the country, so you’re bound to be able to find somewhere to set up your stall.

Get antiques valued

If you have some things in your home that you know are old and worth a bob or two, it might be worth getting them professionally valued – think Antiques Roadshow but without the TV crew. Be it your grandmother’s wedding ring, an old Tiffany lamp or some first edition books – it’s worth getting someone to cast a professional eye over them instead of just letting them gather dust in the attic. You can look for someone online or take them to your local antiques shop for a valuation – and you don’t have to sell them if you decide they hold too much sentimental value. Finding things and getting them priced could be quite an exciting trip down memory lane.

Bake, make and craft

Does your garden produce a glut of raspberries every summer? Do you bake the best homemade brownies in town? Why not try making jam, cakes and homemade crafts and selling them at local markets? It’s a great way of using up excess foods or craft materials you have lying around the house. And if you’re really imaginative, you can turn lots of things into beautiful products people will want to buy. Try turning old books into bouquets of paper flowers or confetti for a wedding, or use discarded buttons and beads to fashion new earrings, brooches or bracelets. They might even be things you could make with the family and so you could make a few extra pennies while having fun together. The possibilities are endless. And if you’re successful, sites like Etsy host many vendors selling homemade gifts and wares and you could start your own cottage industry!