Best spending present accounts

The study showed 85 per cent more females than males work on side businesses and 47 per cent of those over the age of 50 have more than one income stream, compared to around 38 per cent of young people. Women and older people are most likely to work extra hours.


'My daughter became a Herbalife distributor in 1999 and introduced me. I was not looking for a second job.
'When I started working on my second job I was working full-time as a secretarial PA in the telecommunications Industry. I started by building my Herbalife business alongside my career, actively working about 10 hours a week on Herbalife.
I'M TOPPING UP MY PENSION
Dawn Stanford is a 79 year old grandma who runs a flourishing Wellness Clinic in Woking, which she set up after taking on a second job direct selling with Herbalife more than 10 years ago.

You get an interest-free arranged overdraft for that 12 months, but after that a flat rate charge of 50p per day applies, this will be costly for those who regularly go overdrawn compared to a typical interest-charging overdraft.


Interest on savings and extras Santander - 1 to 3% interest and perksThe Santander 123 current account is an intriguing proposition, it pays both cashback on spending and interest on balances. But it also charges a fee.

There is a monthly fee of �2, and to be eligible for cashback services you must set up a minimum of two direct debits and pay in at least �500 every month. But to get the most benefit from this account, it's best to retain a credit balance of at least �1,000 - this might be easier if you are a couple sharing the account with two salaries.


Lloyds TSB may pay out on a bigger balance, but if you have a smaller balance it is best to go with Nationwide, which pays out 3.5 per cent more if you have less than �1,000 in your account. Remember, you would have to maintain both balances for an entire year to maximise your returns - and this may not be realistic.


If money back on your bills is the reason you want to switch, check first that your supplier is eligible - not all are included in the scheme, particularly smaller energy firms. Explaining how the cashback system works is a little long-winded - but stick with us, it is far from complicated and simply means there are lots of different ways to make money! All bills must also be paid by direct debit.

It gives 0.5 per cent cashback, cheap overseas spending and other perks.
Plus, if you�re accepted, you'll be eligible for the Nationwide Select credit card. Nationwide normally pays this interest 'net' of any tax, which means it deducts any tax due and passes it to the government for you.


If you chose to go for the popular Reward Current Account you can also get �5 every month when you pay in at least �1,000 monthly. Halifax offers a lump sum, �100, to new customers who take out a Current Account, Reward Current Account or Ultimate Reward Current Account.

That�s an extra �60 a year on top of the cash lump sum of �100, which is paid as soon as you apply.
To put this into context, �60 per year on an average �1,000 balance is 6 per cent, whereas on a �2,000 balance it is 3 per cent.

Halifax - �5 a monthHalifax offers an alternative for those looking for an interest-paying current account as it offers a cash incentive to join and �5 per month
Regular cash each month and money to sign up

Interest is clocked up on a daily basis and will depend on what you have in your account that day. Once your balance reaches �2,000 or more, you will earn interest of 2 per cent, and if it reaches �3,000, the maximum interest of 3 per cent will kick in.

If there is any chance of you slipping into your overdraft, there is little point applying for the account as the combined charges and monthly fee are likely to cancel cash benefits. This is Money verdict
Santander's 123 really does offer something different and rewards both saving and spending.

As you might expect, the 123 aspect of the account name is a running theme. As well as spelling out what interest rates you are entitled to (1 per cent, 2 per cent and 3 per cent) on your balance, it also sets out the cashback theme on services.


Both interest and cashback you earn is paid directly back into your 123 account on a monthly basis. Household bills exclude your TV licence, maintanance/insurance contracts, commercial use or commercial mortgages.

WHAT IF YOU DON'T HAVE A BIG BALANCE?
Making your money work harder in these times of low savings rates is a must, so picking an interest paying account could be a good option - especially worthwhile if you have a big bank balance.
If you don't, there's no reason why you should miss out on free money.


As well as the potentially high interest benefits, the 123 account could be a smart choice because it really makes your money work for you, thanks to monthly cashback on key services such as mortgage payments, council tax bills, electricity, gas, mobile and home phone, broadband and TV packages.
Cashback
Cashback: How much could you be making? If your balance falls below �1,000 on any day of the month - even by �1 - you will earn no interest at all on the entire balance for that day.nAccount holders are also eligible for a for each cent overdraft for the initial twelve months, and decreased expenses of 50p for every day for organized overdrafts right after that. nYou must pay in a minimal regular monthly income of �1,000. On the last working day of each and every month Nationwide will calculate the desire you have gained every single working day and then shell out you this interest on the initial working day of the subsequent month. Nationwide's FlexDirect account pays out five for every cent in-credit curiosity on balances up to �2,500 for the 1st year - not poor considering most effortless-accessibility cost savings charges have slid in recent many years to an typical .77 per cent, according to Moneyfacts.nnnYou can set up to �50,000 a 12 months into a pension tax free of charge. There will be fees for controlling investments within the pension fund, but there will be no tax until you come to consider your pension out at retirement. From this April that falls to �40,000.nnnThis is Income verdict nMore importantly, you will have to pay out a monthly �10 price, although if you slide into under �1,000 for each month bracket, this can be avoided by getting out one more 1st Immediate item, like a credit score card. Prior to acquiring too carried away daydreaming of ways to commit the totally free cash, it is really worth bearing in head that unless of course you credit history your account with �1,000 each month you will not be entitled to the �100. First Immediate will not consider anybody with 'adverse credit' for this account.nnnFirst Direct's 1st Account is at the moment one particular of the ideal choices - in fact, based on your balance, you could stop up earning far more than you would on an interest-having to pay recent account. Some banks, like the Halifax selection previously mentioned, will reward you for switching to their present account with a money incentive.nnnIf you�re offering a services, do your investigation to locate out no matter whether you need to be accredited and registered. Get the correct licenses, registrations, and insurances in area ahead of functioning your facet organization.nnnThe 4 per cent is compensated on balances of up to �3,000 until finally March 2015. nAfter tax, the Clydesdale and Yorkshire account will pay simple fee taxpayers 3.two for each cent fee, although individuals that spend 40 per cent can nevertheless make the most of a sensible two.four for each cent. Soon after that the fascination will fall to 2 per cent. The financial institutions offer you the 2nd greatest curiosity fee obtainable on a existing account, but only for a minimal period of time.nnOn the other hand, Nationwide clients will almost certainly want to transfer after a yr when the five per cent deal drops off, whilst for Lloyds TSB consumers there is no minimal period - even though the offer could easily alter.nnCLYDESDALE AND YORKSHIRE Bank - four% FascinationnClydesdale and Yorkshire Banks, the two customers of the Nationwide Australia Financial institution Team have just released their own fascination-paying offerings paying out four for each cent curiosity in the war to get over disillusioned bank customers.nnIt�s a intelligent way to get started out. Using your house to make, grow and generate some thing is an economic, reduced danger technique of commencing a organization, that presents you versatility to perform the hours close to your main occupation.nnOn top of being renowned for client provider, not only does Initial Immediate delivers �100 if you open a Initial Account, but if you wish to switch to another bank inside of 12 months, the financial institution will give you an further �100 and aid you to go just as extended as you have held the account for over 6 months.nnIt�s a massive chance to leave a steady work and venture out into territory mysterious. Any income can also be invested straight back again in to the company. nPlus, cashflow is typically an concern for any new commence-up. It�s difficult and high-priced to borrow from the financial institution and beginning a second job although you�re even now in component or complete time work is basically reduced-risk and lower-value. Even though it will be challenging perform juggling the two, keeping in entire or component-time work permits you to test the need for your new organization thought, while preserving a security web in circumstance it doesn�t go as properly as you hope.nnThis is Money verdictnFor most people on common salaries with typical outgoings, this top charge of curiosity is not likely to be paid out. So it really is not for every person. nAlthough Nationwide offers a larger 5 for each cent interest charge, the maximum quantity it pays out on is �2,500, which would receive a year's value of curiosity of �125 (once again before tax). nOn the other hand, if you hold an regular �5,000 or much more in your Lloyds TSB present account, you will theoretically clock up �150 in fascination for every yr (ahead of tax), which is 1 of the ideal returns obtainable on a existing account.nnArranged overdrafts are billed at �1 a working day, capped at 20 times a thirty day period. The measurement of the overdraft will rely on your situation. Unarranged overdrafts shoot up to �5 a day with no cap on unauthorised borrowing. nSantander says that you will not be billed more than �95 in charges for any 1 month. At the moment they are also providing a totally free organized overdraft for four months if you change to the 123 account making use of their switcher service. This account is genuinely not for you if you typically discover oneself in the red.Free money: We pick the best of the interest-paying current accounts
Nationwide - 5% interestNationwide is offering the highest available interest rate on a current account.

Chris Dillow, of Investors Chronicle explains: 'Say you have 30 shares, and that the chances of one beating the market are independent of another doing so. It then follows that there�s a two-thirds chance that your portfolio�s annual return will be within 5.5 percentage points of the market�s. And let�s say each has a one-in-six chance of out- or -under-performing the market by 30 percentage points; this is true for middling FTSE 100 stocks or more staid FTSE 250 ones. If you hold baskets of baskets, therefore you will quickly have something like a tracker - except with higher fees.' This is because - as I�ve just shown - any basket of stocks will tend to rise and fall as the market rises and falls.
'If you hold funds, the chances of ending up with a closet tracker are even higher.

However, there is also a risk that if you do not discriminate carefully enough you suffer over-diversification and spreading your risk too much to the point where your investment barely performs or just follows the market, rather than outperforms it. In this situation it would have been cheaper to have just put your money into a tracker fund.

This can effectively generate free money as your employer will often match contributions in a workplace scheme and the government will give you tax relief on what you put in. You can also take advantage of the tax system by contributing to a pension.
This means that a basic-rate taxpayer gets an investment for 20 per cent less, a higher-rate payer 40 per cent, and a top-rate payer 45 per cent.

If design isn't your thing, how about a review blog or website copywriter? This may not be the world-changing idea you were hoping for, but they are a way of slowly building up business and if you hit the market right with an idea that snowballs can be potentially very profitable.

Companies tend to have a strong brand name - Coca Cola, McDonalds and Gillette feature in his holdings - and a good history of solid earnings growth.
British fund managers willing to do something different have also done well.

MY TOP TIPS ON BECOMING A PART-TIME ENTREPRENEUR
Kate Craig-Wood: Successful businesswoman and part-time entrepreneur
Kate Craig-Wood is a successful entrepreneur who recently started a virtual cryptocurrency business, CipherMine, which she plans to run as a part-time business.

Seven financial fads that failed
Invest for the long term It sounds obvious, but the earlier you start saving the more you will get in returns.
Starting to save early can get you used to putting money away and investing for the future rather than spending your pay packet as soon as our get it.
You can benefit from reinvesting dividends, so that your returns grow each year and if you start younger you can also afford to take more risks early on.

I�ll be 80 next month and I�m continually looking forward to expanding my business. 'Running two jobs was enjoyable, stimulating and exciting (I�d never worked for myself before) and after about 18 months with Herbalife I resigned from my job because I wanted to concentrate on building my own successful international Herbalife business working from home.


If you are going to invest in Aim shares you need to be willing to do your research into a company's strength and prospects and only put a small chunk of your pot on individual firms to manage risk carefully. You are able to put Aim stocks in an Isa which makes them more attractive, however, Investors Chronicle warns that Aim stocks are very seasonal and tend to do best at the turn of the year.

The Reward Current Account will only be available to those who use it as their main bank account.
You will only be eligible for the �5 reward if you remain in credit. You'll need to have at least two different direct debits set up on the account and
pay in a new, lower, minimum of �750 per month.
Halifax will also add a fee free overdraft buffer of �50 on these accounts.

Nick Train's Finsbury Growth & Income Trust has just 24 holdings and focuses on high quality global brand names. From 2001 to 2013 it delivered an annualised return of 9.7 per cent, compared to the FTSE All Share's 5 per cent.
At the other end of the scale, small company specialist Giles Hargreave's Marlborough Special Situations fund has delivered an annualised return of 15.6 per cent over the past decade compared to its benchmark index's 8 per cent and holds 197 companies.

Their regular salary continues to pay for everyday expenses.
With annuity and inflation rates at rock bottom, some side business owners have started their companies simply to fund their retirement. The perks
Employer pension contributions can make up a sizable chunk of your pension pot - which is not to be sniffed at. Your firm may also offer other perks, such as health insurance, a free travel-card or a mobile phone. Many people begin a part-time business in order to save for something they couldn�t otherwise afford like a house, car, or holiday.This page is kept up-to-date throughout the year - bookmark it for the very latest developments. Savings rates are at an all-time low, providing a good incentive for checking out alternative ways to make your money work harder - you could be earning as much as 5 per cent on your in-credit bank balance every month.
We have scoured the small print to round-up the best interest-paying accounts.


Collaborative consumption has also spawned a whole range of new sharing and caring services. Soon you will see how this new breed of business can help you to make extra cash from every part of your life.

Or, how about a pop-up restaurant which you can hold in your home for free?
Monetise your assets Gardening: Make money by selling flower pots or produce
Do you have a room in a house that�s not being used that you could rent out? Do you have a garden that you can grow vegetables, herbs and flowers in for the local market?

Say goodbye to your weekends Leaving your job could mean you will miss out money-saving perks, so setting up a second business in your spare time means you could get the best of both worlds.
Things to consider before becoming a part-time entrepreneur
1.


Two years ago, Philip Jones, 69, bought into the Ventus venture capital trust, which invests in wind farms. There are different ways to approach the sector. One option is to buy a fund that invests directly in the infrastructure of renewable energy such as wind turbines or solar panels.

If you are selling something priced at less than 99p then you won't be charged a seller's fee, but anything above that and you will have to pay. Fees from private sellers (as opposed to people with an eBay shop) start at 15p, and can go up to �1.30.

As Professor David Rae, from the University of Lincoln, points out: 'Selecting something you enjoy or are passionate about will help immensely in terms of building up your business - the enjoyment factor essentially changes who you are, it shapes your identity and is a key ingredient with any successful business.'


Taken a step further, collaborative consumption has spawned a rise in the number of people clubbing together to get a better deal.
For example, rising energy costs are spurring people to come together to try and get a better deal. Consumer magazine group Which tried it last year with a mixed result - but it will no doubt spur on others to make their own attempts. Ecomodo styles itself as the market place for good returns and landshare.net connects people who want to grow plants or vegetables with people who have land to spare.

Leave clear instructions to visitors on how to use some of the appliances around the house such as the oven and washing machine, to ensure that you will need to be contacted infrequently while the property is being let.

His words, writ large at the London 2012 Olympics, have never been so apt.
The internet is now inspiring a very new sort of business revolution, which helps us make and save money together by tearing up old business models and reinventing better ones through a concept called collaborative consumption.

Make sure that you have good photographs that show your property in its best light. Wimdu, for example, will not take properties on that don�t have good genuine photographs that will provide quality and comfort for people looking to rent.


If you are a married couple you can combine your CGT allowances and pass assets between yourselves free of tax. Every year you get a new CGT allowance, so try to keep any asset sales within this bracket if you can and if you have a very big profit consider drip selling. For example, you are also entitled to make a profit up to �10,900 on investments in this tax year before having to pay capital gains tax.

Take into account the distance to Olympic events and the local area attractions. You don�t want to price yourself too low, or scare people off with sky-high prices. Look at other properties that are being listed and price your property accordingly.

A �100 investment in the average investment company on 28 February 2003, when markets were at one of their most recent low points, more than tripled to �347 over 10 years and three months to 31 May 2013, according to the AIC.

Even if you go into the red just the once you will miss out on interest for that entire month. Planned and unplanned overdraft fees vary on other Lloyds TSB current accounts.
After that, Classic Account customers with Vantage that dip into planned overdrafts will be charged a one-off �6 fee, and 1.53 per cent interest - this will quickly cancel out any interest cashback you may accrue.
There is a �10 overdraft buffer and a small �25 interest and fee-free planned overdraft, but that's not much leeway if you fall into the red. This account is probably not a good option for you if you often find yourself overdrawn.


'My business partner, Haley Pascal, and I noticed a gap in the market and knew we had found something new and exciting, worthy of exploration. 'It is of immense benefit because, even as a pensioner, I enjoy on-going financial security with the opportunity to continue earning more through my own efforts.'
I SET UP MY BUSINESS FOR �197
Lara Sheldrake, 26, works in recruitment, but decided to set up Y-Pro - a website where young professionals compare experiences and stay up-to-date on the latest topics - from home. I have a full-time job so finding the time can be a challenge, but it is refreshing to come home and be able to pick up Y-pro - it is so rewarding having an idea and seeing it through. n'Setting up Y-Pro from home has its benefits as it allows for flexibility.From driving, to eating to saving, there is always something going towards the taxman.
But when it comes to money you are able to minimise what you give the taxman, even without using dodgy tax avoidance schemes. Minimise taxesIt seems that most things we do are taxed these days.

That means that for the DIY investor, without a clear cut and tested strategy, it can be a fruitless exercise
There are a number of seasonal stocks that will perform better at particular times of year. Be comfortable
Investing is a long-term game. So don�t let emotions dictate your investment choice. It is very easy to panic about your portfolio when a company you invest in appears in the news, but the best rewards often come from time in the market ahead of market timing.
Timing the market is notoriously hard, even for professional investors.

For example you may need to take out insurance against faulty operation or accidents caused by your product. Equally, if you decide not to get protection, make sure you understand the risk you are taking on.

Instead of allowing advisers to skim a commission each year of the charges paid to product providers, investors must agree to pay a fee direct to their adviser - either by the hour or as a percentage of their investable assets.

It is it free to register with the site, it has an average of more than 14 million auctions going on at any one time. So if you want to reach a lot of people with that rubbish bin or whatever it is you're selling, it's worth a go. nBeat high post charges: The trick to sending Christmas presents that could save you a packet

You can add Vantage to the bank�s range of current accounts for free in order to get access to tiered levels of interest up to 3 per cent, which are available dependent on how much money you keep in your account.


Cashback
The bank has recently added a new incentive to its current accounts offering between five and 15 per cent cashback on your shopping in certain stores.
Halifax credit card customers will also be able to clock up on cashback, as long as they also hold a current account with the bank.
Existing customers will also be able to access the deals from their online banking account from mid-September according to the bank.
Currently there are partnerships with Morrisons, Hertz, Ocado, Glasses Direct, Argos, Urban Outfitters, Homebase, Oasis, O2, Domino�s Pizza, Pets at Home, Marriott, Play.com, Q-Park, New Look and The Body Shop. There is no cap on the amount you can earn. Depending on your situation this could be up to �5,000. The other bonus with this account is that it comes with a six-month interest-free arranged overdraft should you need it.

Save into one and no matter whether you are a basic rate or higher rate taxpayer you don't pay income tax on the interest. nAs you might expect with a good thing, Isas come with limits. You can stash up to �5,640 into a cash Isa this tax year, which began on 6 April, but if you don�t use your annual limit for this year by the time the deadline rolls around in 2013 it is gone forever.

The minimum investment is �10,000. Goldfield Partners has now launched the Solar Green Energy Fund. This is being structured as a pension investment, allowing those with self-invested personal pensions to draw a target annual income of between six and eight per cent.

The investment will fund the installation of solar panels on homes in southern England, with the feed-in-tariff income going to the debenture holders. Ethical: Mark Churchill is a fan of Triodos Renewables
Investors willing to tie up their funds for 20 years can lock into returns of between six and 7.8 per cent a year through buying debentures from Padero South Downs.

This comes in handy if you are selling a number of identical items, and is also great for buyers - all buyers pay the lowest successful bid price.
If you're trying to get rid of unwanted gifts, you aren't solely limited to auction sites. There's a good explanation of how it works on the eBid FAQ section. It also offers different forms of auctions, like a Dutch auction.

Worthwhile: Philip Jones wants to help cut dependency on fossil fuels - and make money
�People are motivated to invest in this sector both by profit and by their principles,� says Mark Hoskin, a partner at independent financial adviser Holden & Partners in Farringdon, central London, a specialist in environmental and ethical investments.

Peer-to-peer car pooling platforms website and website allow travellers to co-ordinate their trips and save money. Sites such as parkatmyhouse.com, which allow you to rent out your parking space, are also gearing up for growth.
So, with your house and driveway turned into unexpected money makers - what about using your spare time and skills to make a bit of extra cash?

Its share price has risen by 50p to 190p since 2006 and it has paid 16p in dividends over the period, equivalent to a 6.8 per cent annual return. The fund invests in British wind and hydro-electric energy projects.n�In this circumstance, we do question that the customer enable us know. A spokesman for Lloyds TSB, explained: �If clients do desire to supply accommodation at the time of the Olympics, they can lease a optimum of two rooms to a highest of two lodgers. nA spokesman for Nationwide, explained: 'Our coverage is that Nationwide debtors have to notify us of their plan to temporarily enable out their property. In purchase to hire out their entire property to a tenant instead than a lodger, we require that this is accomplished as an �assured short maintain tenancy�, which shields the tenant, the homeowner, and the loan company the minimum legal time from for this arrangement, nonetheless, is 6 months. There is a allowing application fee of �50. Buyers should converse to their loan provider and check with legal tips if they are not sure of what action to get.�nNationwide suggests it will be flexible about people�s needs, so long as the financial institution is educated of the alterations.nnHoskin states: �Competition is intense. Revenue have been hard to appear by in modern months. Demand for solar panels and turbines is increasing, but so is provide, and it has been challenging for firms to make income.�nn'People request me how I locate the inspiration but it doesn�t even cross my brain, it may be tiring and arduous at moments but I adore it and to me it's my baby. n'With us equally getting complete-time positions, this most likely wasn�t the appropriate time for us to established up a company. But a great concept should in no way be disregarded and the digital media entire world, being a 24-hour area, accommodates a adaptable operating technique.' n'You just need to have to make time, have patience, passion and perseverance.'nnA sister firm to ethical lender Triodos, the fund has been operating for 16 many years and has 4,800 shareholders. One more fund in this sector is the �30 million Triodos Renewables, which is hoping to raise a additional �8 million with a new share concern.nnHomeAway.co.british isles has a useful interactive map which displays where the events are being held and the common rental prices in each and every London Borough:n&ampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampltp&ampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampgtYour browser does not support iframes.&ampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampamplt/p&ampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampampgt nOther leading suggestions when leasing out your propertynnWe are all in this collectively - and together we can make and save a lot more funds than at any time before.nTo discover out how others are coping with beginning up a new business, and to inquire any questions, visit This is Money's discussion board.nnThis permits the supervisor to hunt for returns in other locations if renewable power organization shares are under force. A reduce-threat alternative is a broader environmental fund that can also invest in sectors these kinds of as h2o, waste management and agriculture.nnDiscover out much more from the Immediate Offering Affiliation.nGet onlinenTrading - buying and selling - is a low chance way of obtaining commenced, but it�s essential to use methods and skills to your ideal advantage.nnOther nations are also eager to enhance their inexperienced energy. The Government has established a goal for twenty per cent of the UK�s strength to be made from renewable sources by 2020, offering an further push to the sector.nnWatch outnThe good news is the time period of time you�ll get the �5 a thirty day period for is at the moment indefinite - despite the fact that Halifax reserves the right to alter this at a later date if it chooses to - despite the fact that this will not be compensated in any thirty day period you go overdrawn.nnInvestments marketed just before 2013 will maintain paying out out once-a-year commission to advisers.nInvestors ought to use the opportunity of the new rules on adviser commission payments to ask specifically how a lot they are currently paying.nnAt the same time there are significantly a lot more having difficulties inventory pickers and fund supervisors than there are Warren Buffetts, so do not continually chase the latest sizzling factor and quick and large returns, as this is more difficult than it looks and typically much more down to luck than judgement. nLocate out more:nnVery handily an Isa also slashes paperwork by maintaining your investments off your tax return. Everybody has an Isa allowance of �11,520, up to �5,760 of which can go into a funds Isa and the rest in a stocks and shares Isa. The fascination on funds in a income Isa is attained tax free of charge. An investing Isa means you nevertheless have to spend 10 for each cent tax on dividend cash flow, but really don't have to fear about paying out any a lot more than that, you can also keep away from any funds gains tax liabilities when you promote property.nnnDon�t panic acquire or market n14 Methods TO Expenditure SUCCESSnInvestors Chronicle has highlighted 14 suggestions to get the ideal out of your investments in 2014. Discover out more:nThe relevance of asset allocationnIf you could commit in just one particular fund, which one particular ought to it be? nHow numerous cash need to you invest in?
Specialist magazine Investor's Chronicle recently highlighted its 14 steps to investing success in 2014. Popstars sing about it and the internet is full of ways claiming to do it, but in reality there is no easy way to get rich.
One way to start making more money is by investing and while there is no magic formula to guarantee top returns, there are steps you can follow so that you can try to minimise losses and use your hard-earned cash efficiently. We have picked six vital steps from this and highlighted helpful tools and guides.

Quick tips: This is Money's Five favourite cash Isas
Move banks
Also consider your bank account. Some of the big high street banks, or online banks are offering bonuses of �100, incentives such as travel insurance or cash back on household bills if you switch your monthly income.

Will you need special insurance? But will your mortgage lender allow you to rent your home? What kind of demand is there for London Olympics rental properties? Which websites can you advertise your property on safely?

In fact, the British are more likely to take on extra work to supplement their income than other Europeans, according to research by nutrition company Herbalife, which uses a business model that employs independent distributors to sell. The figuresPart-time entrepreneurs are actually more common than you might think.

It is hard to predict the economic cycle so one way to prepare for potential losses is by diversifying. Dont just diversify, simplify Certain asset classes will do better in particularly market environment.

These websites may be fine to use, but you should always be careful of websites that suddenly pop up with search engine friendly names and are unlikely to be around once these Games are finished.What security do they offer if things did go wrong?

Innocent Smoothies started out in this very way - selling drinks at a music festival to test the market and gain valuable feedback from their customers. They also allow you test your sales, marketing and negotiation skills. There are lots of opportunities to create pop up stalls - from festivals and family days out to local markets and events.


If you have a useful skill you can even set up a course or an experience for like-minded people, using innovative new services such as website whose goal is to empower women, or theamazings.com, which helps people over the age of 50 to find a new lease of life. Taskhub.co.uk, an 02 Telefonica backed start-up, aims to make a similar impression in the UK. Lend it to someone for a return with Zopa. Let somebody store things in it website Rent them out (rentmyitems.com).
Spare cash
Giles Andrews, of Zopa Finance
Spare savings? TaskRabbit has gained a fair amount of traction, certainly in the US, by providing a platform for people to outsource their errand and to-do list, from house cleaning and picking up the shopping to that dreaded Ikea wardrobe assembly.

Imagine this scenario: a demanding client from your side business calls during office hours, demanding immediate attention.
It can be tougher than you think to separate your working hours, so you will need to assess your priorities before you start.

Established sites like Wimdu, HomeAway.co.uk, Holidaylettings.co.uk, Holiday-rentals.co.uk, Ownersdirect.co.uk have a reputation to protect and will want to ensure things run smoothly and all problems are properly dealt with.

Street food organisation Feast's summer festival
You'll need to be realistic. How about a pop-up? Part time entrepreneurs have the opportunity to make a go of working on something they are passionate about, but expectations should be kept in check.

Savings with a smile: We outline three easy ways to make more of your money
I need some help sorting my finances and I know that there are some changes to the way financial advice is now offered, so before I seek help are there some rules to stick to so that I can make the most of my hard-earned cash?
Smaller investors who use professional finance advisers must get used to a new way of paying for it.
Linda McKay, of This is Money, replies: Financial advice rules changed on December 31 2012 and so the way it is offered and paid for will affect the average investor.

Collaborative consumption is here to stay, with ever more innovative and sophisticated services bringing more power to the people in the real world, beyond the computer screen. A whole range of initiatives are being set up to get local people to help other locals and this is just the beginning.

You don�t need to take out a huge loan or even quit your job to be an entrepreneur - developing a business idea, testing it and even take it to market can cost only a few hundred pounds. Most of those polled said they needed the extra cash to pay for their basic needs (71 per cent), with the rest saying they wanted to boost their income to pay for a holiday or pay off debt.
The research reflects the tough economic times, as well as a change in mentality among workers. Today people tend to change jobs, or even professions, more often throughout their working life - which means it is easier than ever before to become a part-time entrepreneur.
Best places to be a part-time entrepreneurIt is now much faster and cheaper to go into business for yourself.
And those stories doing the rounds have also triggered those living further afield to wonder whether they too could rent out their property for a few weeks a year to tourists and make them a nice little earner. Olympics rental: This is Money guides you through all you need to know to rent your property out for the 2012 Games
The London Olympics is less than a year away and thousands of Londoners are being tempted with stories of renting out their house or a spare room to visitors to make some extra cash.

Can you help with the best ways to turn my presents into something I can use?
Via email
Time for giving: If you're unhappy with your Christmas gifts there are options - we explain how to make money in January. If you have ever tried in the past to sell something online, this may have been your first port of call.
Linda Mckay of This is Money replies: Oh haven�t we all been there with cries of �Just what I wanted� when in actual fact it is just what you didn�t want - or expect. So now, without sounding ungrateful in the season of giving here are our options for recycling for 2013.
We could start with the site we have all heard of: eBay.

Coventry Building Society also offer an interest paying current account
If, for whatever reason, you would prefer not to bank with Nationwide or Lloyds TSB, with Coventry you could earn 1.1 per cent on your balance when you deposit at least �1,000 each month.

Gumtree has a Stay Safe guide on its website full of tips on how to do this as smoothly as possible. It doesn't cost you anything to list an item, but you don't pay online so you will need to meet with the buyer and perform the exchange in person.


The tax system treats one job as your main employment, and will usually calculate your personal tax allowance to that job. If you�re working more than one job it�s your responsibility to make sure you�re paying the right amount of tax. You might also pay less than you should if what you earn from both your jobs makes you a higher-rate tax payer, but tax is deducted from your second job at the basic rate.
You could end up paying too little tax if HMRC doesn�t know you have two jobs and is applying your personal allowance to both.

Matthew Clayton, managing director of Triodos Renewables, says the company needs more capital to invest in projects. We have a pipeline of investments already identified that we want to press ahead with,� he says.

It then only costs you 3 per cent of what you receive from your buyer (unless you want your item to be one of the 'featured' deals, which will cost an additional �1). It is absolutely free to list your item, no matter how much it is being auctioned for.

There is a challenger in the online auction market called eBid. But, it's the fee side where eBid looks like an attractive alternative. And your sale items may be less likely to disappear amidst other people's auctions. With an average of one million auctions taking place at any time on eBid, it is much smaller than eBay, but that is still a healthy level of activity.

The best they can do on easy access accounts is 3.16 per cent with West Bromwich WeBSave Easy Access 4 [more details], or 4.65 per cent if they tie their money up for five years with BM Savings [more details].


You risk being fired - or even sued - if you market a product or idea you came up with while working at your full-time job, so try not to work on your side business while at work. nSome contracts might rule out additional jobs where there could be a conflict of interest - working for a rival company, for example, or where the second job might bring your main employer into disrepute. Does your contract allow you to take a second job?
You need to check your existing contract of employment to make sure there�s nothing in it that prevents you from taking on a second job.

nInflation drops for fifth month in a row to 3.4% as falls in gas and electricity bills give relief to households And some economists fear prices may soon rise again.
Slim pickings: But with prices rising at 3.7 per cent (measured by the retail prices index), down from 3.9 per cent last month, savers will still struggle to make a return on their money
Vicky Redwood, chief UK economist at consultancy Capital Economics says: �Inflation could even rise in March on the back of the continued increase in petrol prices.� More...

'After this, the property can be let for up to six months, after which an additional letting interest rate is charged (though this won�t be a problem for the Olympics, which is obviously less than six months in length).

These investments are my little contribution to reducing our dependency on fossil fuels.� Philip, a retired union education officer from Morden, south-west London, says: �I prefer to make my money in ways that are worthwhile.

You'll also have to hand over 10 per cent of the winning bid to eBay, and if you want additional features to help sell your item, like extra photos or scheduling exactly when your product will be available for bids (up to three weeks in advance) then that will cost you as well.

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