We could all use a little extra money, especially given that the crisis caused by the rising cost of living is unlikely to stop anytime soon.
However, did you realize that you can have hundreds of pounds lying about your home? This is especially true of the electrical “junk” drawer that we all own.
Across the UK, there are around 880 million unused working devices – that’s 31 per household – that combined could be worth up to £178 billion, including laptops, old phones and games consoles.
But selling all this tech could earn you up to £6,000, if savvy sellers wipe their devices and turn to platforms such as eBay, Facebook Marketplace and Gumtree.
Of course, how much you get for an item does depend on make, model and how well it has been used.
But people selling old mobile phones could make up to £555, according research by the Recycle Your Electricals campaign, and those selling tablets could earn up to £649 on re-selling sites.
But it’s not just obvious tech like phones, laptops and tablets that people are in the market for.
Even unwanted electricals such as kettles, blenders and electric toothbrushes could give you some extra cash.
Scott Butler, executive director at Material Focus, which is behind the campaign, said: ‘We’ve all got that drawer of doom or cluttered cupboard with unused electricals at home. Your cupboard of electricals can be cashed-in.
‘If your electricals are working, they can make you money. Just make sure that you follow our guidance to destroy any data on your devices and our tips to get the best sale price.
‘And if they are broken, don’t forget – anything with a plug, cable or battery should never be binned and should always be reused or recycled!’
Financial expert Emmanuel Asuquo teamed up with Recycle Your Electricals and was surprised with how much can be earned.
‘There’s no denying that this time of year can be a financial struggle for many, and it’s common to feel overwhelmed by the huge amount of advice out there,’ he said.
‘Normally I’m helping people tighten their belts, but here you’ve got an incredible untapped opportunity to earn extra cash equivalent to over half a months’ average UK salary.
‘I’m surprised how much money can be made! I’ve estimated I have around £1,000 worth of my own unused electrical items in my house alone – the cash is literally waiting for you in your drawers! It’s a really simple yet hugely effective way to declutter your home from items you no longer use and reap the benefits!’
The research also revealed around one in five adults are conscious they are unaware of how to delete and transfer data properly.
But the team, along with the help of We Fight Fraud expert, Tony Sales, has developed a step-by-step guide for data deletion which means you can find out how much your tech is worth, and sell it with peace of mind.
And remember, when you buy new like-for-like electricals, the seller is legally obliged to recycle your old one.
