FEELING the pinch after Christmas?
You are not alone – the average additional debt from the festive period is £460.
Unsurprisingly, nearly half of Brits are looking to side hustle for extra cash in 2023.
With the cost of living crisis, there’s no better time to earn a bit of money in your downtime.
As a nation of shopkeepers, selling, making and upscaling items is in our DNA – and you could make an extra bob or two to top up your income.
This Morning's money making expert and Million Pound Pawn star Dan Hatfield believes in ways you can make cash on the side but in a sustainable, long-term way – no get rich quick schemes here.
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Here he shares nine tips that could help you earn hundreds a month more this year.
Clear out your wardrobe
Do an audit of your clothing and try to remember the last time you wore each item.
If you’ve not worn something in years, it’s time to get rid – but don’t toss your old outfits in the bin.
As a nation 350,000 tonnes of clothes worth £12billion go to landfill every year.
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This is an earning opportunity gone to waste, quite literally.
Assess the quality of your items and think what’s going to sell well right now – for example, coats, gloves and hats are wanted in winter.
We don’t look too far ahead, so put aside your summer dresses and shorts to sell at a later date.
Facebook Marketplace is great for low value items like supermarket own brand clothes.
Anything designer or fancier will be sold for more on sites like Vestiaire. You have to pay commission, but it’s worth it for the extra profit.
Profit's child's play
Your kids grow out of toys, clothes and shoes at lightning speed – but don’t forget other people are in the same boat!
There’s a great second hand market for kids’ stuff.
Toys your kids are too big for always sell really well at car boot sales.
Clothing, prams, and nursery furniture – as long as it’s in decent condition and meets safety regulations – are snapped up quickly online.
Get techy
Technology is always a hot seller in the second hand market because of global demand.
The same goes for computer games and consoles.
But you are best to try specialist sites, like music magpie, to get best value out of these items.
Golden touch
The price of gold at the moment is the highest it’s ever been.
A gold chain bought for £150 in 2010 now can fetch £450, depending on weight.
So have a dig through your jewellery box and see if there’s anything good quality you are willing to part with.
You’d be surprised £60billion of gold is thrown out every year worldwide because owners don’t realise the value.
When selling gold you can’t just pluck a figure out of the air – you must have it valued according to its weight.
You can go to a pawnbroker who will fairly value your items, or you can pay a reputable jeweller or pawnbroker to value it for you to sell privately.
Dog sitting
After lockdown our canine population has grown from nine million to 12.5 million.
And with more of us picking up extra hours at work, we need someone to walk and feed our furry friends.
You can charge £50 an hour for three dogs and around £100 a night for pet sitting. And it’s a great way of keeping fit.
Start by sitting or walking for friends and family and asking them to spread the word.
You’ll need insurance, which costs £50 to £70 a year, and a DB check doesn’t hurt either – that costs £15.
I have one client who makes £1,000 a week through dog walking alone.
Upcycle
Remember, one man’s trash is another’s treasure – and upcycling is a £133million industry.
That old rickety chest of drawers is just a lick of paint away from becoming someone else’s brilliant second-hand steal.
Searches for the term “upcycle” have increased by 60 per cent as more of us are turning away from fast fashion and furniture.
An old table with a bit of sanding and varnish could fetch up to £270, and it’s a great creative outlet too.
And just because you think something is dated, don’t underestimate the power of kitsch on selling sites like Etsy.
Go rental
The clothes rental market has absolutely exploded over the past couple of years.
And it’s only going to get bigger in 2023 as people are less willing to buy outright.
It’s a great way of making money on items you’re not willing to part with.
You could earn an extra £250 by letting out a designer dress you own 10 times a month.
If your old wedding dress is languishing in the wardrobe, there is a huge demand for gown rental.
Even Carrie Johnson rented out her wedding dress in 2020 from MyWardrobeHQ.
Air out your spare room
There are 18.6 million empty rooms in Britain and you could make yours work harder.
You don’t need to commit to getting a flatmate or a lodger to benefit – you can rent a room out on holiday sites like Airbnb.
A private room on average rents out for £72 a night – while a whole house goes for slightly higher at £85.
By just renting a room out on weekends you could make upwards of £500 a month.
Handy when it comes to off-setting your mortgage.
Old Xmas presents
Whisper it – but you don’t need to keep the unwanted presents from your friends and family.
A whopping 33 million of us are given gifts we don’t really want at Christmas – and a fifth of us end up keeping them.
You could always re-gift it, but chances are the people close to you aren’t going to like it either.
You are best to flog it online so your unwanted present finds a home where it is appreciated.
But best to be discreet about it, so try to avoid Facebook Marketplace where your identity is tied to your profile.
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Try eBay which is a great way to sell pre-loved items.
Find more money making tips on Dan’s Instagram @danhatfieldpawn.
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