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Need to clear some debt? Worried about a potential interest increase driving up the monthly cost of your mortgage? If you are in a bind, then talk to www.moneyadviceservice or similar organisations, about how you can reduce your debt and avoid the health, work and relationship worries that are so often a consequence of badly-managed debt. And if you need to, here are some sure-fire ways to make some extra money quickly, without necessarily getting yourself into other problems!

Make your property earn

Do you have a spare room you can rent out? This can be a great extra monthly income, and you can boost it further by including meals or other services such as washing. If you live in a university city you can make a good income during term time, then during the holidays you can either enjoy having the house to yourselves again, or you can make money from short term lets, such as through Air BnB. Alternatively you could make money from renting your driveway to a commuter on a monthly basis, or perhaps your garage as a storage unit. You may want to check with your local council though as some do frown on these techniques.

Sell, sell, sell

We all tend to have a bit of clutter around our homes that just builds up over the years. Some of it may be of value and could be worth selling – the pair of skis you bought on a whim but could never be bothered taking a ski holiday; the second TV, those old computer games you collected but will never play again if you’re honest – stick them on eBay or Gumtree and watch the money roll in. At the very least you’ll be tidying your home and clearing some space.

PPI

One of the big financial scandals of recent years, huge numbers of people were sold payment protection insurance on loans, car finance, credit cards and overdrafts, which they didn’t really need. It’s not difficult to check if you’re owed money, and you could potentially get thousands of pounds back if you’ve been seriously exploited. Best of all, reclaiming needn’t cost you anything but a bit of time!

Downgrade your handset

People on contracts are entitled to a new handset every few years, but we’re often perfectly happy with the one we already have. Why not sell your new phone to someone else, or if you’re not due an upgrade soon, you could also sell your current phone and pick one up with slightly less features or capability second hand, and make a fair bit of cash in the process.

Switch your bank

It’s very easy to switch your bank account, simply a matter of filling in a few quick forms. All of your direct debits and standing orders are transferred automatically. You could get a better rate of interest, and some banks such as the Co-Operative offer you a financial free gift when you switch.

Go car-less

Running a car is a huge household expenditure. Does your family really need more than one? Do you need one at all? Many people feel liberated after they get rid of theirs – no more worries about repairs, fuel bills, and of course the benefits of getting more exercise. Alternatively you could simply sell your car and buy a smaller, more efficient model.

Tax Back?

Always worth checking if your tax code is correct, as you may in fact be owed a rebate. Be warned though – you could just as easily be paying too little as opposed to too much tax, so you could find out you have to hand over money!