When we think about making more money, we tend to think about looking for a better paid job or starting a side hustle to bring in a little extra income, but what if I told you that, sometimes, you have a chunk of cash ready and just waiting for you to find it? Many of us “lose money” in a variety of ways over the years, but you know what? You can find it again, and boost your bank balance significantly. Here’s how:
1. Old Bank Accounts
Remember that savings account you opened back in the day, with the grand plan of “saving” up for something big? Chances are, it’s still there, gathering a bit of dust (and maybe even a bit of interest). Thousands of old accounts go untouched each year because people simply forget about them. If you suspect you might have one lurking, try checking with My Lost Account, a free service that helps you track down any hidden funds you might have forgotten.
2. Lost Pensions
If you’ve had a few different jobs over the years, you might have accumulated a few pension pots along the way. When we change jobs, it’s all too easy to lose track of workplace pensions, but those funds could be worth a pretty penny. The Pension Tracing Service can help you locate any old pensions you’ve lost track of. Even if it’s a modest amount, it all adds up towards a comfortable retirement (or maybe even that dream holiday you’re still eyeing).
3. Heir Hunters
Here’s a fun twist – you might have a distant relative who left behind a bit of cash or property, but no one’s claimed it yet. Enter the heir hunters, a group of detectives for hire who specialise in tracking down beneficiaries of unclaimed estates. These modern-day treasure hunters sift through records to find people who may not even realise they’re entitled to an inheritance. If you get a call from one of these pros, don’t dismiss it as a scam – it could be the start of a family fortune you never knew about!
4. Unclaimed Tax Refunds
We’ve all heard of tax refunds, but did you know that many go unclaimed? HMRC sometimes owes money to people who’ve overpaid on taxes but haven’t come forward to collect. Check in with HMRC or look through any old tax paperwork to see if you’re due a refund. You never know – that forgotten bit of cash might be waiting for you to claim it, and it’s easier than you think to get back what’s rightfully yours.
5. Loyalty Points
Loyalty points might not be cash, but they’re as good as it when it comes to treats and savings. Whether it’s old Tesco Clubcard points, Nectar points, or even airline miles, check in with your loyalty accounts and see if you’ve racked up any savings you forgot about. Sometimes a forgotten stash of points can pay for a meal, a bit of shopping, or even a mini-break!
6. Unclaimed Benefits and Grants
Surprisingly, councils often have grants, benefits, or rebate schemes that go unclaimed each year. Whether it’s help with energy bills, home improvement funds, or council tax rebates, a little digging on your local council’s website can reveal all sorts of hidden financial support you might qualify for.
Go find that cash!
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