Savvy seller reveals how she makes money from old clothes
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
On the BBC Moneybox podcast, Felicity Hannah spoke to different guests about how they have been able to make money from things they do not need. Melanie called in to explain she was able to make over £500 last year by selling her old clothes, and encouraged others to do the same for sustainably purposes.
She said: “I took a pledge to decide to be more sustainable with fashion and with the Vinted app.
“I was able to upload photographs and a description of what I was selling, and people could scroll through and find it, like Instagram.
“They then can make a purchase through the app and on there I’m very quickly and easily able to upload the clothes mainly that we don’t wear anymore.
“It’s quick, easy, simple and free.
“Over the last year I’ve made £500 selling unwanted clothes.”
Naomi Wills, the co-founder the money saving blog Skint Dad gave tips for people who may be considering using a selling app to make extra income.
She said: “You want to try and make sure you get as many pennies as you can back.
“You should have a look at if there are people local to you that are using it. That can help cut down on postage costs because you don’t have to go thought the Post Office.
“It’s worth having a look seeing if other people are selling similar items to you otherwise you might just be listing for nothing, and it doesn’t help.”
Additionally, for those who may have New Year’s resolutions to make more money, something else to consider is renting out one’s space.
Alan called into the podcast to explain how he and his wife are able to earn extra income with their drive.
He said: “We advertise two spaces on our drive, and it brings in extra income.
“We are able to have that bit extra to go to a restaurant one night, or an extra holiday and also on the grandchildren.
“We normally rent one at £5 a day. Most of it is people visiting the hospital.
“The people we have had on our drive have been really nice.”
Ms Wills explained that people can rent out just about everything and it can prove very useful.
When making extra money it is important people are aware of their tax liabilities.
HRMC explained that renting out car spaces is covered by the rules regarding property income.
People have a tax-free allowance of £1,000 per year.
Britons are urged to check their tax when buying and selling things “to avoid any nasty bills”.
BBC Moneybox is available to listen to on BBC Sounds.
Source: Read Full Article