How to get free cash to help pay off your debts and bills this year
Aneira Davies
Social and newsletter writerHere's how government schemes, grants and more can help your finances in 2024
With a new year upon us, many families are feeling the pinch after Christmas.
However, there are a number of financial freebies that could help low-income households in the next few months – without too much effort.
From ways to earn extra cash, to benefits you could be claiming but don't, here are some of the ways you could get some FREE cash to help pay off your debts and bills.
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1. Energy grants – up to £1,500
Many energy suppliers offer extra help to households struggling to pay their gas and electric bills in the form of energy grants.
These one-off grants can be used to pay off up to £1,500 in bills or debts, with many different suppliers offering the help to their customers.
Suppliers including British Gas, Octopus Energy and E.ON are among those who support families in this way, but if your energy supplier doesn't offer this help, you may still be able to get it, just through a different supplier.
For example, British Gas offers its own financial assistance through two separate schemes – one of which could help you out even if you're not a customer of theirs.
To claim this help, you'll need to be in financial difficulty (and be able to prove this), and struggling to pay your energy bills.
What you'll get depends on which supplier you're with, but you may be given up to £1,500 of free cash to help towards your bills, a payment holiday, help towards purchasing white goods or even a free electric blanket in some cases.
2. Fuel vouchers – £50
Customers on prepayment meters could get extra help worth up to £50 towards their energy bills from the Fuel Bank Foundation.
The charity's fuel voucher scheme gives vulnerable customers same-day credit top-ups on their meters and practical help.
The Fuel Bank Foundation's website states:
'We give emergency financial support to households identified as being in fuel crisis. This gives them vital breathing space to help them get back on their feet.'
The website adds:
'The unique Fuel Bank solution provides same-day help to address self-disconnection. Emergency credits are made to prepayment meters for families in crisis. Any supplier’s meter is topped up within a couple of hours.'
The help is given through Local Authorities, housing associations, local debt charities and community groups, but households should first apply for the help through their local council.
Other energy suppliers offer their own vouchers, while some also give £150 towards energy bills through the Warm Home Discount Scheme, so it's also worth checking in with your supplier too, to see if they can help.
3. Switch your bank account – £175
Switching to a new bank account could get you a whole heap of cash – and it only takes a few minutes to do.
You can do this by using the Current Account Switch Service (CASS), as Netmums writer Amber did, which will move over your current account to a new bank and close your old bank account for you.
And many banks, including First Direct, offer cash incentives for doing so, up to £175 in free cash.
The whole process takes around sven working days to switch over your account and you'll likely have to wait up to 10 working days for the cash boost after that.
It might also be worth switching for the extra incentives too, which include 0% overdrafts and access to savings accounts.
4. Rent out your spare space – up to £130
While not everyone will have the space to rent out, if you do have a free room, driveway or garage, you could make some extra cash by letting it.
And it could get you up to £130 a month.
Calling it a 'very easy' and 'quick' way to make some extra money, one man told The Sun he made £130 a month for renting out his garage for storage and received his first booking within days.
'So if you have a space which is not useful, you might as well use it to help pay for extras like holidays,' he explained.
You can also rent out a spare room via Airbnb, spareroom.co.uk and your driveway via JustPark.
5. Household Support Fund
Many local councils offer help to low-income households via the Household Support Fund. Running until March 2024, this is a government scheme to help those struggling with the rising cost of living.
Each council is allocated money from a central pot and it's up to the local authority how they use it to help those in their area. Eligibility criteria and what's on offer vary from council to council, however Dorset council is offering £150 supermarket vouchers to low-income residents while Birmingham City Council has £200 hardship grants available.
Contact your local council to find out what's available in your area.
6. Sell old furniture – up to £1,000 per item
Considering a New Year declutter? If you've got furniture that's taking up space and you don't need anymore, then it could come in useful to someone else – and earn you some extra cash.
Antiques dealer Brad West told The Sun that items you already have in your home, such as coffee tables, mid-century sideboards and lamps, could sell for up to £1k per item.
Certainly worth a try!
7. Complete online surveys – up to £100
Certain websites will offer you up to £100 just to fill out online surveys. Others will give you shopping vouchers or points you can then turn into vouchers.
You can earn Amazon vouchers on sites like i-say. And on Swagbucks, you can earn points – which you can turn into vouchers – by doing surveys, watching videos or playing online games.
If you do these regularly, you could make around £5 an hour, or £100 a month.
The surveys are tailored to your individual circumstances and usually take around 10-15 minutes to complete, so shouldn't be too taxing either.
8. Deliver food – £7 to £13 an hour
Signing up to food delivery apps such as Just Eat, Deliveroo and Uber Eats are quick ways to make some extra money on the side.
While you don't need a car to sign up, you will need some sort of transport such as an electric bike, a moped or a bicycle.
But it could get you up to £13 an hour.
9. Pension Credit – £290 a month
Anyone over retirement age and on a low income could get help in the form of Pension Credit – extra financial help from the Government towards living expenses.
The cash boost is designed to top up your income and also offers pensioners free TV licences, Cost of Living payments and housing benefit help.
The average claimant could get around £3,500 a year, or £290 a month, and you can claim it up to four months in advance of reaching state pension age.
You could also get up to three months of benefit with your first claim, as payments can be backdated by three months.
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