How to make £150 extra a month: Secret cash hiding in your wardrobe

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It is estimated only half of the clothes in a wardrobe are worn regularly. Instead of letting unworn items gather dust, why not swap them for money in your bank account. This Morning’s Consumer Expert Alice Beer looked into the many ways money could be made from unwanted items. 

Depop 

Depop is a fashion buying and selling app with more than 21 million users. 

The app is designed like Instagram – users upload pictures of their item, add a caption with a description of what is being sold and choose a price.

Pros – Sellers can also swap items with other sellers, and for new sellers, the process of uploading your items and making your first sale is very easy.

Cons – Depop charges 10 percent of each sale (plus PayPal fees).

READ MORE: Households warned over buying a new TV and washing machine

Vinted 

Vinted is an online clothing marketplace, with over 3 million UK users. 

Sellers upload their items to the app, set their fee and package things off when they’re sold. 

Upmarket high street brands such as Zara and Mango tend to sell best.

According to Vinted’s Chief Executive Thomas Plantenga, sellers can make on average, £150 a month through selling clothes. 

Pros – The app is easy to navigate for first-time users, and sellers can create an account and list their items for free.

Sellers can also invite a friend to join and receive £5 when they list their first three items.

There is also an option to sell items as a bundle.

Cons – Buyers are charged a fee and sellers don’t get the money from sales immediately because Vinted retains the money for a few days to protect both buyer and seller.

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Preloved 

Preloved is a free classified ads site that lets you list items to sell within your local area. 

Upload a picture and description of the item being sold along with an asking price. 

On Preloved users and customers can buy and sell for free, however, the site also offers membership tiers, which offer different benefits such as being the first to see new preloved ads (£5 a year for full membership/£15 a year for premium).

Pros – Great for selling clothes locally, and completely free (without membership).

Sellers can also list other items, as well as clothes. 

There is also a section called ‘Freeloved’ which offers items that people are giving away for free.

Cons – Users that don’t pay for a membership, don’t get all the perks.

Facebook Marketplace 

Click on the ‘Marketplace’ icon on Facebook and discover items for sale in the local community and list what is to be sold. 

Give the item a summary, accompanied by a photo and price. 

Also, specify ‘collection’ or ‘delivery’ and wait for someone to make an offer. 

Buyers can filter items by location, price and category (so make yours as specific as possible), and then they will contact the seller directly.

Pros – Local selling means delivery costs are saved. The marketplace is also completely free. 

It is also an easy and effective way to make money on unwanted clothes.

Cons – Facebook Marketplace is unlikely to offer a great response for high-quality vintage or niche items.

How to stay safe whilst selling online 

Password – where there are financial transactions, secure passwords are key.

Postage – always use a tracking service – it’s not worth the hassle of lost goods.

Don’t get personal – only communicate through the site’s channel and don’t make an arrangement that involves collecting from your home.

Payments – Paypal is the safest way for both buyers and sellers to exchange money.

Protect your server – make sure the wifi is safe from intruders.



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