Appearing on Side Hustle: How to Earn More money? on ITV this week, father of two, Malcolm Baker, from Cambridgeshire was advised by the show’s experts on simple ways he could make a little bit of extra cash. Malcolm is unable to work due to a painful genetic degenerative spinal condition which has left him in a wheelchair. Malcolm told the ITV program that the rise in the cost of living had affected his family quite heavily.
Malcolm said: “We’re finding ourselves with less and less spare cash and we are having to look at other options to get the money together to be able to afford those just bits and pieces.
“To get a bit of extra cash here and there would be an absolutely massive benefit for us.”
First Malcolm was visited by East Anglian entrepreneur Tom West who created the app RentMy.
The app, which is free to join, enables people to make money from hiring out items they already own.
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This could be anything from electric drills to fancy dress costumes to musical instruments.
Owners are then covered by the company’s guarantee which covers items up to £ 5,000.
Mr West rooted through Malcolm’s shed and pulled out several items which he would be able to rent out through his app.
Mr West highlighted that Malcolm could rent out his drill, leaf blower and pressure washer each for £ 10- £ 15 for a weekend.
For all three Malcolm could possibly earn around £ 60- £ 70 if he rented them out for a weekend.
Malcolm said: “Honestly, I never thought that there was money to be made from the bits that were just hiding in my shed.”
Malcolm then met personal finance expert Lynn Beattie who owns the budget advice website Miss Mummypenny.
She showed Malcolm how he could sell his old books, tech, and broken gadgets on different apps.
She also advised Malcolm on using cashback sites when his bills, such as broadband, were up for renewal.
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She told Malcolm that he needed to search around and find the best deal out there using price comparison websites and that Malcolm should then go to a cashback site to find that deal and sign up for it through the cashback site.
This would mean that Malcolm would receive money back on top of his deal.
Ms Beattie said that she uses cashback sites for the last nine years for any online transaction such as switching bills or anything she buys online. By doing this, she claims to have made back around £ 4,000.
Ms Beattie told Malcolm that she received £ 100 cash back after she renewed her previous broadband bill and said it was “easy money” and “money for nothing”.
With the advice given to him, the ITV show estimated that Malcolm would be able to make £ 260 a month by renting his equipment.
They also estimated that by switching his bills and selling his old books and tech, Malcolm could save an extra £ 300.
Overall, this would be around £ 560.
When he found out, Malcolm was visibly stunned stating that it was “just phenomenal”.
He said: “I’m kind of speechless really. I’m so shocked, it is just amazing what we can make. “
This episode was broadcasted at 8.30 pm on June 30 2022 with the next episode returning next Thursday.