Discover Seven Easy Ways to Earn £808 for Christmas Expenses

Households across the United Kingdom are projected to spend an average of £3,173 in the lead-up to Christmas, marking an increase of £713 compared to typical monthly expenses, according to research from the Bank of England. With financial pressures mounting, many families are seeking effective ways to cover holiday costs without straining their budgets. Fortunately, there are several straightforward methods to earn extra cash in time for the festive season.

Switch Bank Accounts for Quick Cash

One of the simplest ways to earn money is by switching your current bank account. Numerous banks are offering attractive incentives to new customers. For instance, First Direct is providing £175 for those who switch their current account. To qualify, customers must not have received a switching bonus from the bank since January 1, 2018. The account features a £250 overdraft, a 7% regular savings account, and fee-free spending abroad.

In addition, the Co-op Bank offers £100 for switching, along with £25 monthly for three months, contingent on maintaining certain transaction requirements. Customers can earn £175 from NatWest by moving their account and fulfilling conditions like depositing £1,250 and logging into their mobile app within 60 days.

Save by Changing Providers

Switching broadband providers could lead to substantial savings. Research from Ofcom indicates that around 34% of broadband customers are out of contract, potentially overpaying by approximately £203 annually. Sabrina Hoque, a telecoms expert at Uswitch.com, emphasizes the importance of comparing deals, noting that faster and more affordable options are often available.

Similarly, those with mobile phone contracts may discover significant savings by transitioning to new plans. Households could save up to £321 annually by switching from a bundled contract to a SIM-only plan. Hoque advises consumers to verify their contract status and provides a straightforward method to retain their existing mobile number during the switch.

Leverage Referral Bonuses and Incentives

Many companies offer cash incentives for referrals. For instance, mobile provider Three rewards customers with £80 for referring friends, while American Express provides up to £150 annually for similar recommendations.

Another innovative opportunity is through YouSpotProperty, which rewards individuals for reporting empty homes. Participants can earn a £20 gift voucher for each verified report, with the potential for a share of the purchase price if the property is renovated and occupied—potentially yielding up to £10,000.

Additional Opportunities for Earning

For those looking to earn a little extra, checking your credit score can also be lucrative. TopCashback offers £9 for users who sign up for a free credit check with Experian. This requires creating an account with TopCashback and following through with the credit check, with payments typically processed within three months.

In addition to these strategies, households struggling to manage their expenses this Christmas may find assistance through the Household Support Fund. The government has allocated £421 million to support households in England, with varying eligibility criteria depending on local council guidelines. Benefits may include direct cash payments or vouchers to help cover essential expenses such as energy, food, and water bills.

As families prepare for the festive season, exploring these opportunities could provide the necessary financial relief to enjoy Christmas without added stress. By taking advantage of bank switching, provider comparisons, and referral bonuses, households can bolster their budgets and enter the New Year with less financial strain.