Time is money – 10 ways to use your extra hour to boost your bank balance

The clocks go back this Sunday, so why not use that time to fire up your finances?

Here are ten ways to boost your bank balance in 60 minutes or less…

1. Make sure you’re not missing out

Every year, £24bn in benefits and social tariffs goes unclaimed in the UK (Policy in Practice). Make sure you’re not missing out with our free benefits calculator. It shouldn’t take anywhere near an hour.

2. Get organised

Make a start on creating a budget. I’m saying “make a start” because when our writer Gabrielle tried it, she suggested setting aside a couple of hours to get the most out of it. Once you’ve got a budget that shows you exactly what you’re spending your money on, you should find it much easier to spot where you can make cutbacks.

3. Secure a cheaper energy deal

Ofgem figures show that two-thirds (35 million) of UK households are on the energy price cap, and paying the maximum their supplier can charge. According to Totally Money, fixing could save households up to £679 a year. 

If you’re still on the energy price cap, it might be worth spending your extra hour this weekend checking out what deals are available.

Just bear in mind, the price cap changes every three months. So before deciding whether to switch to a fixed deal, consider how the price cap’s likely to change over the next year. Currently, experts are predicting the price cap will rise, remaining roughly the same in January and increasing in April.

4. Switch bank accounts

Banks are keen to attract new customers, and many offer switching incentives of £100–£200. An hour spent looking into banks you’d be happy to switch to (check out their customer service reviews first) could well pay off.

Just make sure to check out the terms and conditions – you may need to pay in a certain amount each month or set up a few direct debits. Also, your credit score may take a hit if you switch too often. But if you haven’t moved accounts in a while, it could be an easy way to make at least £100.

5. Have a clear out

How about using your extra hour to turn clutter into cash? With Christmas on the horizon, toys and gadgets may go down particularly well. Platforms like Vinted, eBay, Facebook Marketplace and Gumtree make it simple to sell locally or nationwide.

6. Sign up to cashback websites and apps

When shopping online, using cashback companies like TopCashback or Quidco could see you pocket significant savings. Spending a few minutes signing up to these sites could be a profitable use of your time.

7. Get alerts for cheap flights

Foreign holidays are beyond reach for a lot of us at the moment. But if you have got your heart set on an overseas trip, you could do worse than spend your extra hour signing up to price alerts from companies like Kayak and Skyscanner.

8. Check if you’re eligible for a grant

If every month is a struggle to get by, it may be worth seeing if you’re eligible for a grant. There are thousands of grants available for people in loads of different situations. Why not spend an hour this Sunday exploring the Turn2Us grant checker.

9. Comping

Comping just means regularly entering competitions – usually ones that are free to enter – with the aim of winning prizes. Competitions can be found across websites, social media, magazines, newspapers, product packaging and even on receipts. Some are quick-entry prize draws, while others may ask for a short story, photo or slogan. Prizes range from small freebies like cinema tickets or snacks to big wins like holidays, gadgets, and even cars. We reckon there are probably worse ways to wile away an hour.

10. Market research

Market research focus groups pay as much as £50–£100 for your opinions and an hour of your time. So spending an hour or so, registering with agencies like Saros and Angelfish Opinions could result in you being quids in.