Turning Your Home Into A Financial Safety Net

If you own a house and you’re having money troubles then the answer to your problems is surrounding you. Your home isn’t just a valuable asset when it comes to selling the place on the market; it can be a valuable asset to you whilst you’re living in it. There are so many costs and so many potential avenues to profit related to your home that you may well be missing every day.

You don’t need to leave your employment just yet, and you probably shouldn’t ever do that if you’re having financial difficulties, but you also shouldn’t ignore the additional sources of income that can stem from your home. Here are some tips to help you turn your humble abode into a financial safety net and start to improve your situation.

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Become a landlord.

You could rent out a spare room in your home. If you don’t have one then think about any unused space you have. Maybe you’re not doing anything with the loft or the garage. You could convert these spaces into miniature apartments of sorts and rent them out to people. This would provide a steady and regular stream of income that could give your family that extra financial boost it needs to get out of the red zone.

 

If you feel that you don’t know the first thing about renting then you could use popular sites such as Airbnb and maybe even look into companies who provide easy Airbnb management services to help simplify the whole thing for you. Having a team working under you to help manage guests who come into your home could make the whole thing easier and ensure you make more money from renting out space in your house. You could create your own letting agency, in effect, and you don’t even need to be experienced to do so.

 

Reduce energy bills.

The majority of us waste a ridiculous amount of energy around our homes every year. The worst part is that it’s entirely avoidable. Perhaps you already turn light switches and computer screens off when you leave a room, and that’s a good place to start, but it’s barely scratching the surface of potential energy waste around your household. Windows leak energy, for starters. So do thin walls. You might want to look into insulating the walls of your house and the loft, as well as double-glazing the windows. Not only do all of these things help reduce energy waste and protect the environment but they’ll also save you a lot of money every month in terms of reduced energy bills. Of course, you should monitor your utility bills in general. Try to place limits on the amount of water you use; allocate yourself 3 minutes of shower time per day and don’t leave the hot water on continuously. Reducing energy bills requires self-discipline and a smart household.

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Do surveys and mystery shopping.

These are just two examples of great ways to make money online. The point is that you can make a lot of money from the comfort of your own home every time you have a few minutes to spare. Instead of watching another episode of that Netflix show you love, you could take 10 minutes to make a few quid off a simple and straightforward survey; perhaps it’ll even be a survey on that very same show you love so much. Mystery shopping is great too; get paid to buy and review things online that you were going to get anyway.

 

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