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Best Ways to Make and Save Money in 2017

If you’re planning on making 2017 the year you save and make money but are unsure of where to start, here at Cash Shop we can help you. Many people find it difficult to open a savings account and commit to putting money in every month in order to meet their financial goals, but our top tips can help you to make some money without even realising it.

Save Every £5 Note

Every time you come into contact with a £5 note, put it to one side and save it into a jar when you get home. Some people choose to keep it in their wallets, although we think that’s too tempting! Others have a goal in mind, i.e. birthdays or Christmas, and won’t stop their saving spree until the event has passed. The great thing about this tip is that it can be done with any amount of money, whether you’d rather save £20 notes of pennies! It all adds up.

Direct Debit

Many people find it extremely difficult to wave goodbye to a chunk of their wages every month as they come in. However, if you’re serious about saving, direct debit could be the answer for you. Like student loans and tax, setting up a direct debit will mean your chosen amount of money will make its way straight into your savings account without giving you the chance to get hold of it! Your savings account will be beaming in no time.

Sell

It’s likely that you have a whole wardrobe full of clothes you no longer wear, or cupboards upon cupboards of games that are no longer played and other general bits and bobs. There are so many great websites around that can help you sell these items and send them to a home where they will be truly used and loved. Whether you decide to use eBay, Depop, Gumtree or any alike, you’re sure to make a bit of extra cash.

Overdraft

Don’t get an overdraft- scrap it. Though they seem inviting at the time, when we have somehow become £1000 deep and are struggling to pay back, it can become a real pain. Don’t rely on an overdraft to keep you afloat, instead create savings that you can dip into every now and again if you really need it. The likelihood is, you don’t need those shoes or that jacket. Keep saving at the forefront of your mind for 2017.

Pawnbroking

If you need money quickly, pawnbroking is a great way of attaining some extra cash with a reasonable interest rate. It allows an extremely practical and flexible way of borrowing money. All you need to do is give some valuables (jewellery or a watch, for example) to the pawnbroker, who will keep it secure for the duration of the loan, which can be up to six months. You can redeem your items at any time during the six months, and also make payments at any time to reduce interest and make the loan even more affordable.

If you would like some more help on saving and making money in 2017, here at The Cash Shop, we’d be happy to help. Simply drop us a message via our contact page for more information!