Option 1: Build an app

You need: some basic coding knowledge

If you’ve got an original app idea, getting it built has never been easier. Registering with Google’s Android App Inventor program – appinventor. googlelabs.com – gives you access to a simple drag and drop-style app builder. You can then place the app on Android Market and charge per download. Apple does its best to make appbuilding easy, but you will need basic coding experience to create anything worth big bucks.

Option 2: Make a business website

You need: something to promote

Whether you’re selling products, services or just yourself, you need a professional-looking website. TrendyFlash.com is a cheap website design package with near-endless aesthetic options. It guides you through setting up e-commerce options – PayPal etc – and helps you to optimise your website to appear higher in search engines. It also helps you to create a
mobile-friendly version of your site.

Option 3: Earn money from online advertising

You need: a quality website

Once you have a website – see Option 2 – you can begin selling advertising space. Sign up with Google AdSense and Google will search for companies willing to advertise on your site. Once the ads are online, you’ll instantly begin making cash every time someone clicks the link on your site and each time that click-through results in a sale. Google doesn’t reveal how much you make per click, but it’s very easy money.

Option 4: Sell unwanted gadgets

You need: to clear out the attic

There’s no need to set up a stall at your local car boot sale. Plenty of companies are willing to do the legwork for you when it comes to shifting old gadgets. Envirofone, MazumaMobile and SellMyMobile all value your old phone and deliver an addressed jiffy bag for you to send it to them. MusicMagpie will do the same for CDs, DVDs and games, while WhyBuyNew happily exchanges cash for your old hi-fi kit.

Option 5: Play the online stock market

You need: to invest wisely

Buying shares on the stock market won’t lead to a quick injection of cash, but it’ll work out far better than the interest on a savings account if you master the art of buying low and selling high. Head to SelfTrade.co.uk for a crash course in investment. The site also provides 24/7 support for investors and handy hints such as “The riskier [your investment] is, the greater the potential reward.” Cheers.

Option 6: Save money at home

You need: to think green

The Wattson (£100, www.firebox.com) monitors your home’s electricity usage in real time, letting you stay on top of your spending and keep strictly to a budget. T3’s Green Gadget of the Year 2010, the Intelliplug (£20, www.oneclickpower. com) automatically switches your tech off when it’s not being used. By not using standby modes you save electricity, cash and increase the battery life on your gadgets by up to 15 per cent.