Christmas and its accompanying feast have probably led to you loosening your belt a notch or two recently. When it comes to your financial belt however, it’s time to start tightening!
The festive season has no doubt left a hole in your wallet the size of a Christmas pudding. Filling it is usually a challenge, especially on a student budget.
Have you considered all the options when starting things afresh in 2019? There are long-established ways of earning a little extra on the side, such as cashback, where you can get chunks of money back on major brands. But are you keeping an eye on the latest trends…?
Our guide takes you through some of the latest developments, giving you useful inspiration for the 12 months ahead and making sure your finances are in the best of health…
5. Switch accounts
It’s something you maybe don’t think much about, yet it’s simple to switch current accounts for a quick financial reward.
This is a no brainer, particularly if you’ve found your bank’s performance unsatisfactory of late. Switching to First Direct will bag you a cool £100, for instance.
HSBC offer a generous £150 for your relatively minor efforts. Then if you’re still with them in 2020 they’ll top it up with another £50. More details can be found here.
Of course expert guidance should be sought and a lot of shopping around done before picking a new bank. Thankfully there is plenty of material out there to help.
An emerging branch of financial services that is offering value for money for customers and opportunities to make cash along the way is Fintech.
Here’s the thing. Fintech has had success cutting out the middle man in the often complex world of managing finances. It’s certainly one to watch in 2019.
The main idea is it takes the legwork out of keeping your accounts in order by supplying you with various tools, such as money transfer apps like Venmo.
These apps bypass banks, making it easier for you to move your funds. And as your money becomes more straightforward, you use it better and crucially make more as a result.
3. Online surveys
It doesn’t bring in mega bucks, but people are turning to online survey sites as a relatively quick and simple way to earn extra cash.
And it isn’t all mindless box ticking. You can also watch videos, play games and use the site as a search engine to release those potential goodies.
As you can do it all from the comfort of your own home, and with each survey lasting around 10 mins, it’s little effort for a reasonable reward.
2. Work from home
Should you want to go from online surveys to making a full time income from home, it appears trends in this area will become more prominent in 2019.
Great news. There are various areas you can get involved in if you’re looking to turn your front room into your office. Blogging or freelance writing are just two examples.
If you have a skill to impart, online tutoring is a popular way of making yourself known. All you need is a webcam, and your students could live anywhere in the world.
Working from home can be a double-edged sword, and while there are numerous pros it’s worth hearing about the flipside. Read about this here.
1. Passive income
Do you fancy earning money for doing almost nothing? Welcome to the world of passive income, where the less you can do to make money the better.
Sounds too good to be true? Passive income typically involves getting a return from something in which you’re not actively involved.
Investments are identified in this category, as well as more fanciful things like writing a best-selling ebook. (Some guides recommend writing a short one for minimum effort.)
This is definitely something to have on the side rather than devoting all your energies to. Who knows, you might strike lucky and not have to lift a finger to pay those course fees…