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Whether you are looking to earn a little extra money, reduce everyday expenses or put something aside for a future purchase, there are several ways to make your money go further and reduce your need to rely on credit, such as a credit line for unexpected expenses.
From bank switching incentives and paid surveys to cashback websites and referral rewards, you could benefit from offers that require relatively little time or effort.
Of course, not every offer advertised as 'free money' provides cash directly. Some reward you with vouchers, discounts or money off purchases you were already planning to make. It is important to understand the difference and check whether an offer is genuinely worthwhile.
In this guide, we explore six ways to earn extra money or rewards, alongside practical discount shopping and frugal living tips that could help you keep more of what you earn.
Some UK banks offer cash incentives to new customers who open or switch to an eligible current account.
These offers can be an opportunity to earn extra money, particularly if you were already considering changing banks.
However, bank switching rewards usually come with eligibility requirements. Depending on the offer, you may need to:
Some accounts may also charge monthly fees, which could reduce the value of the reward.
Before switching: Check the full terms and conditions, including when the incentive will be paid and whether you have previously received a switching bonus from the same banking group.
It is also worth considering whether the new account meets your everyday banking needs. A one-off cash incentive may not be worthwhile if the account is less suitable or costs more to maintain.
Many businesses pay consumers to share their opinions about products, services and advertising.
Paid survey websites and market research platforms connect participants with companies looking for feedback.
Rewards vary depending on the platform and the length of the survey. You may receive cash, vouchers, points or other incentives.
Although individual surveys often pay relatively small amounts, completing them occasionally could provide a little additional spending money.
You can explore examples of paid online survey websites to understand how different platforms work.
Remember that survey availability and earnings can be unpredictable. Paid surveys are better viewed as a way to earn occasional extra money rather than a reliable replacement for regular income.
Airtime Rewards is an app that allows eligible users to earn rewards when shopping with participating retailers.
By linking an eligible payment card, you may be able to collect rewards on qualifying purchases without needing to enter a promotional code each time.
The rewards can then be used towards eligible mobile phone bills, subject to the app's current terms and participating networks.
This can be particularly useful if you are already shopping with retailers included in the programme.
Before making a purchase, check whether the retailer participates and whether any minimum spending requirements or exclusions apply.
Remember that rewards only represent a genuine financial benefit when you are buying something you already need.
Spending an additional £30 to earn a small reward is unlikely to improve your finances.
For more ways to reduce everyday shopping costs, see our guide to saving money on household essentials.
Companies sometimes provide incentives to encourage new customers to try their products or services.
Depending on the business, these might include:
Sign-up offers can provide good value, but they are not always as generous as they initially appear.
For example, a free trial may automatically become a paid subscription unless you cancel before the trial ends. Other promotions may require a minimum spend or a lengthy commitment.
Before signing up, consider whether you genuinely need the product or service and whether any ongoing costs apply.
If you are taking advantage of a free trial, make a note of the cancellation deadline.
It can also be useful to review your existing subscriptions before adding new ones. Paying for several services you rarely use could easily outweigh the benefit of an occasional sign-up reward.
Referral programmes reward existing customers for introducing new people to a company.
These schemes are common among banks, mobile phone providers, subscription services and shopping platforms.
For example, Monzo has offered referral incentives to eligible customers who invite friends to open an account and complete the required steps. The reward amount and eligibility conditions can change, so check the current offer before taking part.
Other companies may provide cash, shopping vouchers, account credit or loyalty points.
Most referral programmes follow a similar process:
Some schemes reward both the existing customer and the person joining.
Only recommend products or services that you understand and believe are suitable for the person receiving the referral.
It is also worth checking whether there are restrictions on how often you can refer people or how rewards can be redeemed.
Cashback websites allow shoppers to earn money back on eligible purchases made through participating retailers.
Instead of visiting a retailer directly, you access its website through a cashback platform. If your purchase meets the offer's conditions and tracks successfully, you may receive a percentage of your spending back or a fixed reward.
Cashback can be available across a range of purchases, including clothing, household products, insurance and certain services.
However, cashback is not usually guaranteed. Transactions may be declined, rewards can take time to become payable and some purchases may be excluded.
Cashback can help reduce the effective cost of planned purchases, but it should not encourage additional spending.
Earning extra money is not the only way to improve your household finances. Reducing the amount you spend on purchases you already need can have a similar effect.
The following tips can help you find better value when shopping online or in-store.
Online shopping makes it easier to compare prices across different retailers without visiting several shops. Price comparison websites can help you identify where a product is cheapest, while some also provide historical pricing information.
This is particularly useful for larger purchases such as electrical appliances, furniture or household equipment.
Remember to compare the full cost, including delivery charges, and check whether you are buying the same product specification.
Before completing an online purchase, take a moment to check whether a valid promotional code is available. Retailers may provide discounts through their websites, email newsletters or loyalty programmes. Voucher websites and browser extensions can also help you find promotional offers.
However, be cautious about spending more simply to qualify for a discount or free delivery. Adding unnecessary products to your basket may cost more than the promotion saves.
Outlet shops and clearance sections can offer reduced prices on products from previous seasons, discontinued ranges or excess stock.
Seasonal events such as Black Friday and Boxing Day sales may also provide opportunities to buy items at lower prices. The important thing is to research the normal selling price before purchasing.
A large advertised percentage discount does not necessarily mean you are getting the best available deal.
Many supermarkets and high-street retailers offer loyalty programmes that provide points, vouchers or member-only prices.
These can be worthwhile when you regularly shop with the retailer.
However, loyalty points should not be the main reason for choosing a more expensive shop.
Compare the amount you actually pay after discounts rather than assuming a loyalty offer provides the best value.
If you do not need something immediately, consider setting a price alert or waiting for a suitable promotion. Some comparison websites and retailers allow customers to receive notifications when products fall below a selected price.
This can be particularly useful for higher-value items that you intend to purchase anyway.
Rather than responding to every promotional email, focus on specific products you have already decided you need.
Frugal living is about making thoughtful decisions with your money, reducing unnecessary expenses and getting better value from the resources available to you.
It does not have to mean giving up everything you enjoy.
Small changes to your everyday habits can help you reduce spending while maintaining a lifestyle that works for you.
Local libraries offer more than books. Depending on your area, you may be able to access free digital resources, activities, community events or other services.
Parks, walking routes and free local attractions can also provide opportunities for entertainment without the cost of expensive days out.
Before paying for an activity, consider whether there is a free or lower-cost alternative that you would enjoy just as much.
Selling unwanted possessions can provide an opportunity to earn extra money while reducing clutter.
Platforms such as Vinted, Depop, eBay and Facebook Marketplace allow people to sell clothing, accessories, furniture and other household items.
Start by looking for items that are still in good condition but are no longer being used.
Before listing anything, check seller fees, postage costs and payment arrangements to understand how much you will actually receive.
Take sensible precautions when dealing with buyers, particularly when arranging collections or receiving payments outside a platform.
Preparing meals at home, making use of leftovers and planning affordable activities can all help reduce everyday spending. You do not necessarily need to stop eating out or enjoying paid entertainment.
Instead, consider whether reducing the frequency of certain expenses would free up money for other priorities. For example, replacing one takeaway each week with a home-cooked meal could provide a regular saving without requiring you to give up takeaways completely.
Streaming services, gym memberships, mobile apps and other subscriptions can gradually increase your monthly expenditure. Review which services you use regularly and whether you are paying for overlapping memberships.
Where available, an annual subscription may work out cheaper than monthly payments, although you should only pay upfront if it is affordable and you are confident you will use the service.
While reducing unnecessary spending is generally sensible, taking frugality to extremes can sometimes create additional problems.
The aim should be to spend money thoughtfully, not to avoid every possible expense.
Certain purchases and services are important for protecting your finances over the longer term.
For example, delaying essential car maintenance to save money today could lead to more expensive repairs later.
Similarly, choosing the cheapest product is not always the most economical decision if it needs replacing much sooner than a more durable alternative. Consider the long-term value of a purchase rather than focusing solely on the initial price.
Being careful with money should not mean neglecting essential needs, withdrawing from friends and family or feeling guilty about every purchase. Constantly worrying about spending can also make it difficult to enjoy everyday activities.
A sustainable approach allows room for affordable hobbies, social occasions and experiences that matter to you.
Instead of trying to eliminate all non-essential spending, focus on identifying purchases that provide genuine value. You might decide that a regular social activity is important to your wellbeing while cutting back on unused subscriptions or impulsive online purchases.
The most effective money-saving habits are generally those you can maintain comfortably over time.
Whether you have earned a bank switching incentive, received cashback or sold unwanted possessions, it is worth thinking about how to make the most of the money.
You could choose to put it towards an upcoming essential expense, build a small savings buffer or reduce an existing borrowing balance.
For example, if you receive an unexpected £50 reward, keeping it aside for a future household expense could reduce the amount you need to find from your regular income.
If you are working towards improving your financial position, it can also be helpful to understand how different credit products work.
Our guide to credit builder cards explains how these products are intended to help people establish or improve their credit history, as well as the potential costs and risks involved.
It is important to remember that earning cashback or receiving financial rewards does not directly improve your credit score. Credit history is influenced by factors such as how you manage borrowing and whether you make required repayments on time.
Cashback, referral incentives and occasional rewards can provide useful additional money, but they are unlikely to offer a dependable solution to a significant financial shortfall.
If you are struggling to cover essential expenses, it may be more helpful to review your household budget, check your entitlement to financial support or speak to the organisations you owe money to.
Borrowing creates a repayment obligation and may involve interest and charges, so it should not be treated as equivalent to earning extra money.
If you are researching borrowing options, understanding the differences between products is important.
Polar Credit is a direct lender, meaning that lending decisions and the provision of credit are handled by the lender rather than an intermediary.
A credit line is a form of revolving borrowing that may allow eligible customers to access funds up to an agreed credit limit, subject to the terms of the agreement.
You can also read about payday loan alternatives to understand other types of borrowing and the considerations involved.
Before applying for any credit product, consider the total cost, repayment requirements and whether repayments would be affordable alongside your existing financial commitments.
If you are experiencing ongoing financial difficulties, free independent support is available from organisations such as Citizens Advice, MoneyHelper and StepChange.
There are plenty of ways to earn small rewards, receive discounts and reduce unnecessary spending.
Bank switching offers, paid surveys, referral programmes and cashback websites may all provide opportunities to benefit from activities you were already planning.
At the same time, shopping carefully, using free resources and selling unwanted items can help you make better use of the money you have.
The key is to look beyond the headline reward and consider the actual financial benefit.
A genuinely useful offer should leave you better off, rather than encouraging you to spend more, take on unnecessary commitments or sacrifice things that are important to your wellbeing.