Did you know you can make money from your postcode? Whether you’re in the country or in the town, you can make some extra cash simply by being where you are.
Let’s examine the top 8 methods to make money from your postcode below:
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Find local work
Perhaps the most obvious way to make money from your postcode is to look for local employment.
For example, in your area you could do:
- performing at weddings
- painting and decorating
- waiting staff
You can also use sites like Gumtree, Freelancer.com and Peopleperhour.com to find work in your local area.
Or just do it yourself. Make flyers and posters and advertise your skills in local libraries, train stations, pubs or even put leaflets through letterboxes in your area.
Be a poll clerk
When there is a General Election or any local elections, someone has to sit in the voting office to tick people off as they come in and go.
This ensures everything happening is done properly and democratically.
Get in touch with your local council to have your name put on the list.
Then once the next election comes around you can take advantage.
Sell energy to the national grid
If you’re making use of sustainable energy you can sell surplus energy back to the National Grid.
For example if you’ve put solar panels on your roof, you could sell some of your surplus. Remember it does need to be green energy to be sold.
- A programme of what are called ‘Feed-in Tariffs’ (FiTs), provides income from every kilowatt hour generated in your home. All renewable energy qualifies so check on the Feed-in Tariffs site for more info.
- Renewable Heat Incentive became another potential source of income where you could also receive a tariff for renewable heat sources (RHI).
Both of these schemes will pay you a bonus for exporting energy or renewable heat sources into the grid or network.
Renewable energy, which is suitable for domestic use, includes solar energy, wind turbines, water turbines, ground source heat pumps or biomass boilers and stoves.
These various technologies are designed to last 20 to 25 years but they do cost money to install. However, over time, you should be able to make that money back and earn a profit.
There is a variety of government grants available to householders installing renewable energy technology.
Consider renting out your driveway
Do you have a driveway, garage or private parking space that you don’t use? Do you live somewhere popular like the centre of town, near a train station or sports ground? You could make money by renting out your space.
Contact Park Let to advertise it. Even if you use the driveway regularly, you can still make money by renting it out temporarily.
For example, you might not use it at the weekends, when the local football stadium is busy. Or you might live near Wimbledon but move out during the tennis.
Rent out a room
You can make up to £4,500 a year by renting a room in your home. It’s also tax free!
We like Spareroom which includes an interesting ‘buddy up’ section where people looking for somewhere to stay can find others in the area who are also looking.
That way they can get together and find a whole house to rent together.
If permanently sharing your home doesn’t appeal, consider taking in foreign students short-term. English language schools are always looking for good homes for their growing number of students.
Depending on where you live and how nice your place is, you can make between £35 and £150 a week.
If renting out a room full time isn’t something you want to do then a part-time lodger may suit you better. The website Monday-to-Friday specialises in just this type of person. It appeals to people who need to stay in your area during the week, but go home at weekends.
For even more temporary lodgers, you can put your home, or just a room, on Airbnb or Vrbo so that you can make money hosting tourists or business visitors for one night at a time. For extra cash you could offer breakfast too.
Just rent space
You don’t just have to rent to people, though. If you have an empty, dry basement or a big loft, you could potentially advertise it as storage space, particularly if you live in a crowded city where storage is at a premium.
If you have a cellar or garage that has its own access, you will be able to charge more by offering clients their own key and 24-hour availability.
This could make anything from £5 a week for storing a few boxes in your loft to around £50 for filling a garage in central London. Try Spareground or Gumtree to get started.
Rent out your garden
If you have a large garden, consider turning it into allotments, particularly if you live in a city. In London the average waiting time for allotments can be several years.
So if you don’t mind people coming into your garden whenever they like to grow fruit and veg, then it’s a good way to make some extra cash. Not to mention keep the weeds at bay.
Municipal allotments charge very little, between £10 and £30 a year. But that doesn’t stop you from making a private arrangement and charging more.
Move to another postcode to get a better deal on insurance
When you move house your insurance premiums can rise or fall depending on the area.
For example, insurers Confused.com have found that a 40-year-old man with a five-year no claims discount driving 15,000 miles a year in a Ford Focus would pay over £1000 a year for car insurance in Bradford (BD1 postcode area), compared to around £4000 in Aberdeen (AB).
Not surprisingly, London is the most expensive city for premiums where Truro in Cornwall (TR) is one of the cheapest areas for insurance premiums.
For home insurance, Bournemouth is the cheapest area at around a third less than the average. With York and Glasgow the second and third respectively.
Of course, you don’t have to move house just to get a cheaper insurance rate. You can save cash just by switching next time you have to get a new policy.