No Cash, No Problem: 100 Ways to Boost Your Finances When Savings Are Low

Steve Conley | Updated: September 5, 2023 | 12 Minutes

Introduction

The ‘rainy day’ that people often talk about saving for is here for many. With a large number of households having little to no savings, it’s crucial to find alternative ways to boost your finances. Remember, financial products don’t create wealth; people do. So, let’s dive into 100 ways you can create your own wealth.

Side Hustles and Skills

1. Create a Side Hustle: Turn your hobbies into an online business.
2. Freelance Writing: If you’re good at writing, offer your services online.
3. Graphic Design: Use your design skills to create logos or marketing materials.
4. Virtual Assistant: Offer administrative services to businesses.
5. Coding: Help businesses with website development.
6. Consulting: Use your expertise to offer consulting services.
7. Tutoring: Offer academic or skill-based tutoring.
8. Photography: Sell your photos online.
9. Voice-over Work: Use your voice for commercials or audiobooks.
10. Editing and Proofreading: Offer your keen eye for grammar and structure.

Local Services

11. Babysitting: Offer your services to local families.
12. Dog Walking: A great option for animal lovers.
13. Handyman Services: Fix leaky faucets, patch walls, etc.
14. Gardening: Offer to maintain gardens or even set them up.
15. Cleaning Services: Offer home or office cleaning services.
16. Personal Chef: Cook meals for busy professionals.
17. Personal Shopping: Help people with their grocery or clothes shopping.
18. Event Planning: Use your organizational skills to plan events.
19. Home Organizing: Help people declutter their homes.
20. Car Washing: Offer a mobile car wash service.

Online Platforms

21. Sell on eBay: A classic but effective method.
22. Use Gumtree: Great for selling locally.
23. Facebook Marketplace: Another excellent local selling platform.
24. Etsy: Perfect for handmade goods.
25. Fiverr: Offer various small services.
26. TaskRabbit: For odd jobs and tasks.
27. Upwork: For more professional freelance jobs.
28. Airbnb: Rent out a room or property.
29. Turo: Rent out your car when you’re not using it.
30. JustPark: Rent out your parking space.

Financial Checks and Claims

31. Check Benefit Entitlements: Universal Credit, etc.
32. Reclaim Tax Owed: Especially if you’re a low-income earner.
33. Lost Bank Accounts: Use services like My Lost Account.
34. Trace Lost Pensions: Use the Pension Tracing Service.
35. Mis-sold Financial Products: You may be entitled to compensation.
36. Check for Unclaimed Money: In old accounts or inheritances.

Selling and Recycling

37. Sell Old Clothes: Use platforms like Depop.
38. Recycle Electronics: Sites like Mazuma Mobile offer cash.
39. Sell Old Books: Use Amazon or BookScouter.
40. Sell Old Games and CDs: Use MusicMagpie or Ziffit.
41. Recycle Ink Cartridges: Some sites pay for these.
42. Sell Scrap Metal: Copper, aluminium, etc.
43. Sell Crafts: Use Etsy or local craft fairs.
44. Sell Baked Goods: If you’re good at baking, sell cakes or cookies.
45. Sell Plants: If you have a green thumb, propagate and sell plants.

Passive Income

46. Affiliate Marketing: Earn commissions on sales through your links.
47. Invest in Stocks: Use robo-advisors if you’re a beginner.
48. Peer-to-Peer Lending: Use platforms like Zopa.
49. Create a Course: Use platforms like Udemy.
50. Write an eBook: Self-publish through Amazon.

Quick Cash Options

51. Paid Surveys: Use sites like Swagbucks.
52. Test Websites: Some sites pay for usability testing.
53. Mystery Shopping: Offer your services as a mystery shopper.
54. Sell Photos: Use Shutterstock or Alamy.
55. Participate in Research Studies: Some pay quite well.
56. Rent Your Items: Use sites like Fat Llama.
57. Cashback Apps: Use Quidco or TopCashback.
58. Get Paid to Exercise: Apps like Sweatcoin pay you to move.
59. Watch Videos: Some sites pay for this.
60. Data Entry: Offer your fast typing skills for data entry jobs.

Financial Health

61. Review Subscriptions: Cancel unused ones.
62. Negotiate Bills: Sometimes a quick call can lower your bills.
63. Switch Energy Providers: For better rates.
64. Use Budgeting Apps: To keep track of spending.
65. High-Interest Savings Account: For your emergency fund.

Community and Networking

66. Local Community Services: Offer workshops or free classes and network.
67. Bartering: Exchange skills or items instead of using money.
68. Join Business Networks: Like local Chamber of Commerce.
69. Crowdfunding: For a specific project or cause.
70. Grants and Scholarships: Look for educational or business grants.

Advanced Strategies

71. Real Estate Investment: Consider REITs for lower entry costs.
72. Tax Planning: Consult a tax advisor for optimal planning.
73. Franchising: Buy into a proven business model.
74. Import and Export: Trade goods internationally.
75. Dropshipping: Start an e-commerce site without holding inventory.

Avoid These

76. High-Interest Loans: They often make situations worse.
77. Gambling: It’s not a reliable income source.
78. Pyramid Schemes: They’re illegal and unethical.
79. Unregulated Investments: Always seek regulated products.
80. Impulse Buying: Stick to your budget.

Additional Side Hustles

81. Pet Grooming: If you’re good with animals, offer a pet grooming service.
82. Teach a Skill Online: Use platforms like Skillshare to share your expertise.
83. Social Media Management: Help businesses maintain their social media presence.
84. Transcription Services: Transcribe audio files into text.
85. Language Tutoring: If you’re multilingual, offer language lessons.

Sustainable Living

86. Upcycling: Turn old furniture or clothes into something new and sell them.
87. Grow Your Own Food: Save money on groceries.
88. Solar Panels: Invest in solar panels to reduce electricity bills.
89. Bike to Work: Save on petrol and public transport costs.
90. Make Your Own Cleaning Supplies: Often cheaper and eco-friendly.

Technology Utilisation

91. Automate Investments: Use apps that round up your change and invest it.
92. Sell Digital Products: Think e-books, printables, or digital courses.
93. Podcasting: Once you have a following, you can monetise through sponsorships.
94. YouTube Channel: Create content and earn through ad revenue.
95. SEO Services: Help businesses optimise their websites for search engines.

Community Engagement

96. Local Fairs and Markets: Sell homemade goods or services.
97. Skill Exchanges: Trade skills with friends to save money on services.
98. Community Garden: Sell or trade the produce.
99. Volunteer for Networking: Sometimes opportunities come from unpaid work.
100. Local Sponsorships: If you have a skill or service, offer it to local businesses in exchange for sponsorship.

Conclusion

With these ideas, you now have a comprehensive list of 100 ways to boost your finances, especially when savings are low. Remember, the key is to focus on immediate, actionable steps that align with your skills and lifestyle.

For Financial Planners

If you’re interested in a career shift, consider becoming a non-intermediating financial planner. The Academy of Life Planning can help you make that transition.

For more information and personalised financial planning, visit Academy of Life Planning.