Thread on how to save/make extra money

(22 Posts)
olaflikeswarmhugs Sat 07-Jun-14 21:58:57

I looked but couldn't find a thread with tips on how to save money and find extra cash . I need money to appear out of thin airgrin

Here is what we have planned/done so far please everyone add your tip/tricks/advice smile

Music magpie our CDs and DVDs

Going brand free - no more Fairy, Converse, Vans, Pepsi, Finish, Walkers etc etc

Spotify

DelightedAuntie Mon 09-Jun-14 17:02:52

Www.webuybooks.co.uk is pretty good too.

MadMonkeys Tue 10-Jun-14 11:58:56

Delighted - webuybooks looks great - what condition do the books have to be in? I can't find anything on the website about that.

MadMonkeys Tue 10-Jun-14 12:34:21

Sorry, I found it now smile

HayDayQueen Tue 10-Jun-14 13:22:41

Just worked out that my 8 kg dryer costs me nearly 60p per load to run.

So far in the last 2 days I have saved £3 just by hanging the washing out.

I've also been buying Basics freezer brand and instead of small packets of crisps etc, buy a larger one and divide it up into the bags for the DC's snacks.

beccajoh Wed 11-Jun-14 20:29:37

That books site looks good. We've got several boxes of books in the loft I'll go up there and have a rummage when I get a moment.

CremeEggThief Thu 12-Jun-14 18:12:05

webuybooks also take DVDs and games and they pay out quickly enough.

specialsubject Sun 15-Jun-14 19:27:35

stop buying adult clothes.
plan washing for days when it will dry outside.
stop buying books - use the library.
no food waste: if you are binning anything except peelings and teabags, something is wrong. Serve less, they can always come back for more if it is there - but once it has been on the plate it probably can't be re-used although I do.

specialsubject Sun 15-Jun-14 19:27:57

oh, and crisps are bags of fat and air - don't buy them!

JokersGiggle Mon 16-Jun-14 15:47:57

I found bulk buying works out cheaper than buying just one of the BOGOF offeres ect, just got to find space to store the stuff.
Buy fruit and veg from markets rather than supermarkets.
If mags have a free gift (like nail polish for example) buy one in each colour way/design or just stock up if its something you use. We're normally programmed to take one but taking more is fine. The other day I got 3 new high end nail colours for £3.60 each. normally £12.15 each. Or buy quite a few, wait a few months then sell on Ebay at just under full price.

JokersGiggle Mon 16-Jun-14 15:51:28

and buy good stuff from charity shops and re-sell on Ebay. Some people don't like doing that though.....

Jamie1981 Tue 17-Jun-14 17:28:23

I'd like to suggest something, a good way of making money, but please do your own research. This is not gambling, because your money is not at risk, but it may seem like it. My husband does it, and makes £500 a month without ever risking his own money. Read all of this before you say "its gambling, i'm not interested" because it isn't.
Google "matched betting". You'll find a money saving expert thread on it. I'll cover the concepts very briefly. You'll need at least a couple of hundred pounds as a float to get going.

Everyone will be familiar with bookmakers. You go in, you place a £10 bet at odds of 4/1 (or 5.0 to use the decimal equivalent). If your horse loses you get £50 back - your £10 bet, plus £40 winnings. This is gambling and you will always lose.

However, you may have heard of Betfair, BetDaq or Smarkets. These are "betting exchanges". On these sites, you can BACK a horse/team as you would at a bookies, or you can LAY a horse or team.

When you lay a horse, you are betting that it won't win.
So let's see it in action:

I go into a betting shop and place a bet of £10 at 5/1. If i win, i make £40. The bookie, on the other hand, loses £40. If i lose, i lose £10 and the bookie earns £10.

But if you place a bet at somewhere like Wiliam Hill, and then lay it off at Betfair, then you have essentially been both punter and bookie.

With me so far?
So you could place a £10 bet on a horse at 4/1 on William Hill and scoot across to Betfair and lay that same horse.
If you won, then you'd earn £40 at William Hill, but lose £40 at Betfair.
If you lost, you'd lose £10 at William Hill, but win £10 at Betfair.

It doesn't work quite this way for two reasons:
1. Because betfair charges 5% commission on winnings (or losings, since you are betting the horse WON'T win)
2. Because the prices at the bookies and betfair are usually a little out of line.

If you've not understood this, then read the above again until you do.

So here's how you make the money. Firstly, there are around 100 bookies in the UK that offer free bets when you place a bet with them. So what you do is this.

1. You open a new account at a bookie, place say £10 in there and bet £10 on the outcome of a race
2. You go to betfair and do the same in reverse.
3. In theory, you've lost nothing by doing this. In reality, you would lose maybe £1 if you were unlucky, because of the commission and the spread (the difference between the bookie price and the exchange price).
4. But now, you have qualified for a free bet.
5. You do the same again using the free bet.

So the transaction looks a bit like this:

Back a horse for £10, lay a horse for £10, lose £1
Get £10 free bet, back a horse for £10, lay a horse for £10, lose £1.

So you started with £10-£1 = £9.
Then your free bet £10-£1 = £9
So you've turned your £10 into £18.

Now it is more complicated than this, because you actually adjust your lay stake based on the odds offered. There are calculators available to do this. You would make £1000-1200 just from sign ups.
But that's not all. There are offers on nearly every day of the week in which you can make money. My husband spends about 4 hours each weekend and earns somewhere between £400 and £600, averaging around £500, each month. If you had the time, you could do this every day.

So, it's not gambling, because it doesn't matter whether your selection wins or loses. It is complicated to do well and i have deliberately simplified here so that you are not tempted to dive in without doing lots of research first. However, it is something that is perfectly doable, from home, using a couple of bits of freely available calculator and it is something that hundreds of people are doing every month.

"Matched betting" - google it.

TeaJunky Tue 17-Jun-14 17:32:20

hmm

deepbluetr Tue 17-Jun-14 17:39:03

Matched betting is an easy way to lose a lot of money if you don't have a good grasp of what you are doing.

Jamie1981 Tue 17-Jun-14 18:02:20

Absolutely agree, which is why i've encouraged people to go and look for the details. Nevertheless, if you do the research and make sure you know what you are doing, then you can make a reasonable amount of cash with it. As with everything in life, it requires work. However, when my husband was out of work it was the difference between being able to keep our heads above water and not.

JokersGiggle Tue 17-Jun-14 18:03:29

Ummmmm......I don't think i'm bright enough lol.

gutted2014 Wed 18-Jun-14 14:27:06

I would never advocate gambling, but when my DH was between contracts & we were broke, the £400 he won on an online casino site, using the £10 free credit he had been given, came in very handy [win]

Other than that I have found selling old baby clothes & equipment to be very successful & I also do a lot of product testing & surveys, usually in exchange for vouchers or clubcard/Nectar points [smiel]

JokersGiggle Wed 18-Jun-14 15:48:50

Where do you sign up for product surveys?

deepbluetr Wed 18-Jun-14 15:52:29

Mysurvey is good, Pinecone pay the highest.

gutted2014 Wed 18-Jun-14 15:53:00

There are loads of product trials on here. Also try Tesco Home Panels & Tesco Mum's Choice.

For surveys - Nectar Canvass (nectar points), Valued Opinions (vouchers), YouGov (cash), Bounty Word of Mum (cash), Mumsurvey (cash), Panelbase (cash)

JokersGiggle Wed 18-Jun-14 18:22:11

Thanks smile

cluttered Wed 25-Jun-14 20:50:37

Wow webuybooks is brilliant, I just got my first payment from them. I was expecting it to be reduced because the condition of some items wasn't great but they paid out the full offer and as a PP said really fast, I got the payment under a week of sending the parcel! And they have an app so it only takes a few seconds to scan items in.

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