Lenders are desperate to get hold of our money as conventional credit streams are harder to come by.
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For many people with debt management problems, a possible way to raise some extra money is to let a room in your home.

You can receive up to £4,250 per year tax free on top of your regular income - just over £80 per week. If you let the room for more than this, you will have to pay tax on it.

You can choose to take advantage of this tax break if you let furnished accommodation in your only or family home to a lodger. (Your only or family home is the one where you/your family live for most of the time.

For more information see rent a room scheme on direct.gov.uk.

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Have you had a good or bad experience renting out a room?
If so, please share your experience by leaving a comment.

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You own stuff that is worth more to others than yourself. Cash in on that fact.

• Have you got clothes and shoes you’ve not worn for 2 years?
• Old Books, DVDs and Cd’s cluttering up your home?
• Stuff in cupboard than have not seen light for day for years?
• Kids toys than will never be used again?

Free yourself from emotional attachments to the junk in your home and make a few quid into the bargain.

If something is worth more to someone else than it is to you, then it makes good business sense to sell it. You’ll benefit in other ways as you make more space at home.

This is also a good psychological exercise as it will focus your mind on how much you paid for items, who little value you have had from them and how little they are worth now.

This will help educate you as to the foolishness of spending on things you just do not need.

Leave a comment
What’s the most you’ve earned from selling something you thought was worth little? Please share your experience by leaving a comment.

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