Money, Faith & Practice: What Major Religions Teach us About Money

Money doesn’t just pay the bills — it also raises deep spiritual questions. How much is enough? What is fair? What is wrong to do in order to get rich? Many religious traditions have rich teachings around wealth, poverty, generosity, ethics, and detachment. Understanding them can help anyone — believer or not — reflect on how they use money in a more intentional way.

Below are summaries from several religions/spiritualities, their main beliefs about money, and what practical lessons individuals might take from them.

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Christianity

Core Beliefs:

• Christianity teaches that money and material wealth in themselves are not evil, but the love of money is dangerous. Jesus is quoted in the Gospels: “No one can serve two masters … you cannot serve both God and money.”(Christianity)
• Wealth is a gift or resource that comes with responsibility. Christians believe that those who are blessed materially should use those blessings generously. (trustwellfa.com)
• Generosity and caring for the poor are central. Tithing (giving a tenth) is an old tradition — though how strictly it is followed varies. (Christianity)
• With the feeding of the five thousand and the feeding of the seven thousand, Jesus showed that in reality supply is infinite. He demonstrated that when we are really close to God and we see as God sees, we understand that abundance is the truth of the universe and we experience that, not the limitations that a finite, material sense of life would impose on us.
• Christianity also teaches the reliance on God for all good , and that this expresses itself In more self-reliance and trustworthiness, rather than expecting others to provide for us. The Christian is always looking to give because he knows that God is giving unlimited good to him so he can always afford to be generous.”‘Freely ye have received, freely give” as Jesus said.

What to Take Away / Put Into Practice:

• Live contentedly: focus less on accumulating more, more on what already has been given.
• Budget with generosity in mind: decide in advance how much you will give to charity or help others.
• Avoid letting money become your “master” — monitor attitudes: are decisions driven by fear, greed, comparison, or by values?

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Islam

Core Beliefs:

• Everything ultimately belongs to Allah; wealth is a trust or provision. Humans are stewards. (The Halal Times)
• Riba (interest/usury) is forbidden. Financial dealings should be fair, honest, transparent. (Noor AlHidaya)
• Zakat (obligatory alms‑giving) is one of the Five Pillars. Typically ~2.5% of one’s savings above a threshold, to be given to the needy, which purifies wealth. (Wikipedia)
• Moderation is important: avoid extravagance or waste, also avoid extreme austerity. Money is allowed, but its misuse is condemned. (About Islam)

What to Take Away / Put Into Practice:

• Check that your income sources are ethical and lawful (“halal”) — avoid exploiting others, gambling, etc.
• Plan for giving: set aside some portion for charity annually / continuously.
• Spend wisely: avoid waste, live within means, avoid over‑debt especially in interest‑bearing forms.

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Hinduism

Core Beliefs:

• Wealth (artha) is one of the four main aims (purusharthas) of life: dharma (duty/righteousness), artha (wealth), kama (desire), and moksha (liberation). Wealth is legitimate but must be subordinated to ethics. (Hindu Website)
• There are both spiritual and material dimensions of prosperity. Goddesses like Lakshmi symbolize abundance; Lakshmi is worshipped for prosperity. But wealth gained or used wrongly is seen as leading to attachment, greed, imbalance. (Hindu Website)
• Karma plays a role: how you earn, how you use your wealth affects future fortunes and spiritual well‑being. Giving and selfless service (seva or charity) are ways to improve karma. (Hindu Blog)

What to Take Away / Put Into Practice:

• Seek balance: pursue material success, but without neglecting spiritual growth or ethical behavior.
• Give regularly or when possible: charity, service, supporting community.
• Be mindful of not becoming overly attached: enjoy life but recognize limits; avoid excessive desires just for status or ego.

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Buddhism

(Whilst not a “religion” as such, it sill holds some very interesting takeaways reguarding money.) 

Core Beliefs:

• Attachment is a root of suffering. Desire, including desire for money or status, can lead to suffering. (Bodhi Path)
• But having wealth isn’t inherently wrong. What matters is how it is acquired, used, and what attitude you have toward it: generosity, ethical livelihood, mindful spending. (Reddit)
• The notion of Right Livelihood in the Noble Eightfold Path: certain occupations or means of income are discouraged if they harm others. (Bodhi Path)

What to Take Away / Put Into Practice:

• Practice generosity: donate, share, volunteer — not just money but time or skills.
• Spend mindfully: distinguish wants vs needs, delay purchases, avoid impulsive consumption.
• Seek ethical ways to earn: jobs or businesses that align with values, avoid harmful or exploitative sectors.

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Sikhism

Core Beliefs:

• Sikhs are taught three main duties: Naam Japna (remembering God), Kirat Karni (earning an honest living), Vand Chakna (sharing with others) (BBC).
• Wealth is considered maya (illusion) when it becomes an object of attachment. Being attached to material things is spiritually limiting. (SikhNet)
• There is a strong emphasis on service (seva) and community welfare. Free kitchens (langar), shared meals, helping those in need are central practices. (Wikipedia)

What to Take Away / Put Into Practice:

• When earning, aim for honesty, integrity, avoid unethical shortcuts.
• Share upfront: set aside a portion of earnings to help others (charity, community work).
• Stay aware of over‑attachment: have enough, but don’t let wealth define or dominate life.

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Judaism

Core Beliefs:

• Money/wealth are seen as neutral or good when earned and used righteously. What matters is how one earns it, what one does with it, and with what attitude. (The Jewish Standard)
• Tzedakah (often translated “charity”, but more accurately “justice” or “righteous giving”) is not optional but a duty. It’s considered a central expression of ethical life. (Colel Chabad)
• Provisions in Jewish law encourage loans without interest among community members; interest (usury) has restrictions. (Wikipedia)

What to Take Away / Put Into Practice:

• See giving not as giving up, but as a way to live well, to contribute to justice.
• In financial dealings, aim for fairness, avoid exploiting people (interest, deceit, etc.).
• Use wealth as a tool: supporting community, helping those who cannot help themselves.

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Common Themes & Practical Takeaways

Across religions, there are several recurring ideas. You don’t have to belong to a religion to benefit from them:

Theme	Why It Matters	Practical Application
Generosity & Charity	Sharing wealth is often seen as purifying, elevating, building community, fulfilling spiritual duty.	Decide a regular amount or percentage of income to give; support causes you believe in.
Ethical Earning	How you get money matters: jobs or businesses should avoid harm, deceit, exploitation.	Choose work you’re proud of; avoid shady dealings; consider impact of what you sell or invest in.
Moderation & Contentment	Excessive desire causes stress, comparison, can lead to poor choices.	Budget, avoid lifestyle inflation, distinguish wants vs needs.
Detachment / Avoiding Greed	Attachment makes us vulnerable to suffering; greed can distort priorities.	Reflect on what money does for you rather than just accumulating; practise gratitude.
Purpose / Stewardship	Wealth can be used as a tool: to benefit others, support one’s values, leave a legacy.	Think of money as a resource to allocate; plan giving, impact, investment in community or good causes.

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For MoneyMagpie Readers: How to Use These Insights

Here are some ways people might integrate these spiritual teachings into real‑world money practices:

1. Set Giving Goals
   Decide in advance how much to give each year or each month. Even small regular giving cultivates generosity and keeps you aware of money as more than consumption.
2. Create an Ethical Budget
   Include in your budget not just “needs” and “wants”, but also “giving / social impact” and “future planning (savings, investments)”.
3. Reflect Before Spending
   Before a major purchase: ask yourself—is this necessary? Is this being done ethically? Will I regret this? Will this help or hurt relationships?
4. Avoid High‑Interest Debt Where Possible
   Many traditions teach that interest can exploit the vulnerable. Minimizing or avoiding very high‑interest borrowing helps maintain financial peace and ethical clarity.
5. Invest in What Matters
   Use some portion of savings/investments in enterprises or funds aligned with your values — whether in social causes, local community, or ethical business.
6. Cultivating Contentment
   Practice gratitude: regularly pause to appreciate what you already have. Awareness of what is enough can reduce stress, comparison, and overly risky financial behavior.

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Possible Challenges & Balancing Acts

While these teachings are inspiring, putting them into practice isn’t always straightforward. Some tensions:

• In modern economies, dealing with interest is almost unavoidable (for mortgages, business loans). Religions that forbid interest have developed work‑arounds (Islamic finance, etc.).
• Desiring security for family can conflict with ideal of detachment: e.g., investing, saving vs giving now.
• Wealth can amplify responsibility but also tempt misuse; what counts as “ethical” or “fair” can vary by context.

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Conclusion

Religions & spiritual traditions offer more than rules — they offer perspectives that help us hold money lightly, use it wisely, and see it as a tool (not a goal). Even for those with no faith tradition, there’s value in asking similar questions:

• What role do I want money to play in life?
• How do I want to be remembered for how I used it?
• What kind of person do I want my money to help me become?

These questions can help shape a healthier, more purposeful financial life—more peace of mind, more alignment with values, more satisfaction.

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What’s an Allowable Expense on a Self Assessment?

Freelancers have to complete a Self Assessment tax return by January 31st every year. This includes listing all your income for the tax year – and your allowable expenses. But what can you include as a legitimate expense -and what will HMRC refuse?

Let’s look at what you can – and can’t – include as an allowable expense on your Self Assessment. This guide is for sole traders – taxes for Limited Companies, PLCs, and charities are different.

The Trading Allowance	Office Equipment and Furniture	Clothing and Uniforms
‘Wholly and Exclusively’ Explained	Computers and Tech	Continued Education
Simplified vs Actual Expenses	Contractor Expenses and Professional Fees	Travel and Vehicles
Traditional vs Cash Basis Accounting	Banking Costs	Other Expenses to Consider
Working from Home	Marketing Costs

 

The Trading Allowance

The Trading Allowance is perfect if you turn over less than £1,000 a year with your self-employment. For example, if you occassionally babysit or do some garden chores, or if you have a small business that’s just getting started.

You don’t have to register as self-employed with HMRC if you turn over £1,000 or less in a tax year. However, you can’t claim expenses if you do it this way. So, if you turn over £1,000 but your expenses cost £500, you can’t write off that £500 to maximise your profits. If you think you will turn over more than £1,000, or you want to offset your expenses against your income, it is best to register as self-employed with HMRC.

Wholly and Exclusively Explained

Before you start throwing everything on your business account as an expense on your Self Assessment, hold up! You may need to prove to the tax man that your expense was incurred ‘wholly and exclusively’ in the line of work.

For example, you can’t book a two-week holiday to attend a one-day conference and claim the entire cost. You can, however, claim the travel required to get to the conference, and the hotel one night before (or even after, depending on the distance from home and travel requirements). The rest of your accommodation and trip expenses – i.e., your holiday – must come out of your own pocket.

Personal Use Items Used for Business

Sometimes, especially when you’re starting out, you’ll use personal stuff in the line of business. You might use your mobile phone, for example, or your laptop, when you’re first operating your freelance business.

You can’t claim the full bill – but you can work out the reasonable portion of the cost that’s used in the line of business. For example, you could work out how many minutes you used from your mobile phone monthly tariff for business purposes and use that as a proportionate amount to claim.

Simplified vs Actual Expenses

If you run a low-overhead business, your costs may come in at under £1000 a year. If this is the case, you can claim using ‘simplified expenses’ for some things. This includes the business use of vehicles, cost of working from home, and living in your business premises. Everything else needs to be worked out as actual costs.

Simplified expenses saves you a big headache! You use flat rate expenses set by HMRC to make approximated expense claims, rather than adding up every single mile you’ve travelled in the year (for example). Check out the Gov.uk website for more details about simplified expenses.

The flat rate for working from home, for example, is £10 per month for between 25-50 hours a month, £18 for 51-100 hours, and £26 for 101+ hours a month. This can net you more than working out actual expenses (see below).

Traditional vs Cash Basis Accounting

Decide if you want to follow the traditional or cash basis accounting options. Traditional accounting is where you count the invoices sent out that month – not necessarily the money received. This can be useful when you’re setting up if you have a lot of inventory or long payment terms, as you’ll be able to offset unpaid invoices.

Cash basis accounting is often simpler for sole traders to use, though. It only takes into account the money you’ve actually received in that tax year, and the actual expenses incurred.

Whichever basis you use, make sure you keep ALL RECEIPTS for at least seven years. You will also need to be prepared for Making Tax Digital, which starts rolling out from April 2026 for those with a turnover of £50,000 or above. So, consider getting a business bank account with integrated HMRC-approved MTD software like Freeagent or Xero. This will make the quarterly returns required much easier.

Working from Home vs Renting Office Space

Many freelancers work from home – either for cost reasons or personal preference. Others like to rent a desk in an office – or have a membership to flexible co-working spaces for the days that the same four walls drive them loopy!

You can claim some costs incurred by working from home as an allowable expense on your tax return. You can’t, unfortunately, expense your entire Council Tax or electricity bills – but you can expense some of them.

Rooms you can include

Use the number of rooms in your home for the calculations. You can include living areas, bedrooms, kitchens, office spaces, even garages if you work in it. You can’t use lobbies, porches, hallways (including mezzanine areas) – but if you have a garden room that’s on your main power supply, you can include that.

Count how many rooms you have in your home. Divide your monthly bills total by the number of rooms you’ve got. Say your bills come to £350 and you have five rooms – that’s £70 a room. Then, look at the amount of time you use each room for work.

Let’s say you work 100 hours a month. You spend 50 hours in the living room (room cost £70 x 50% time = £35), 30 hours in the kitchen (£70 x 30% = £21), and 20 hours in your garden room (£70 x 20% = £14). So, that’s £35 + £21 + 14 = £70 expenses allowed.

Why not use one room?

Even if you have a dedicated home office, make sure you use it for personal use somehow. This could be storing personal items in it or sometimes watching a film on your laptop in there. Why?

Capital Gains Tax! If you sell your home and have used only one room exclusively for work, you open yourself up to a CGT bill. That’s why it’s better to work out percentage time rather than just one room’s use!

Bills you can expense

Calculate every bill: rent or mortgage interest (not total mortgage repayments), electricity, gas, Council Tax, water. Your telephone and broadband bills can be worked out on a percentage usage rather than room calculations, if you don’t have dedicated business phones and broadband.

Office Equipment and Furniture

Do you use a specific desk, chair, or filing cabinet? Have you purchased bulbs for the lamp on your desk? Perhaps you’ve got a noticeboard on the wall for your important paperwork and reminders.

Anything that you buy that’s wholly and exclusively for your business can be claimed. If there’s any personal use – such as an office chair you sit on to watch YouTube on your lunch break – discount the proportion of time you use it for personal activities against the cost.

Power cables, surge protectors, monitor risers: everything and anything you use to equip your office space can be included.

This also includes business expenses such as postage, envelopes, printer ink, paper, and stationery. You can also include software purchases – including monthly subscriptions to things like Dropbox or Office 365.

Computers and Technology

Do you use a desk with a PC and monitors? A laptop raised up on a stand? A specific mobile phone for work?

You can discount all these costs as an allowable expense! However, you should make sure it counts as an allowable expense rather than a capital expenditure. An allowable expense is something you’ll use for less than two years – such as rent, bills, and stationery. If you use cash basis accounting, computers are allowable expenses, too. However, if you use traditional accounting, equipment is a capital allowance.

As with the other things, if you use your computer or mobile phone for personal use, you have to claim proportionately.

Contractor Expenses and Professional Fees

“You have to spend money to make money” is really very true when it comes to launching and maintaining a self-employed business.

One of the best investments you can make in your business is getting the right people to do each task for you. While many self-employed people running their own business are simultaneously accountant, marketer, sales person, doer-of-the-actual-thing, social media executive – it’s actually better to hire people if you can.

You can offset the cost of professional fees, such as accountants and solicitors, as an allowable expense. Using a professional will save you a LOT of time and help you avoid potentially massive (and costly) headaches in the future.

If you need a helping hand to help run a stand at an exhibition, or you want to pay someone to run your social media, these costs fall under allowable expenses, too. This is different to having an employee: you must use contractors here, rather than hire someone on payroll. If you want an employee, you’ll need to be a Limited Company and make employer National Insurance and pension contributions. Using contractors means you pay the set fee on the invoice without the above costs.

Banking Fees

Sole traders don’t HAVE to have a separate bank account – but it’s advisable to set one up, especially with Making Tax Digital around the corner, which can involve direct reporting from your bank account. You can use a current account, rather than a business account, which often means no banking charges.

However, if you want access to business credit cards, loans, and even to work with public organisations, you’ll need a business account. These come at a cost – but you can offset monthly fees as an allowable expense. You can also claim overdraft charges, credit card interest payments, leasing costs, and currency conversion fees.

Those using traditional accounting can also claim for bad debts. This is when a customer hasn’t paid you. You’ll have to show you’ve tried to recover the money first, but if there’s no luck (such as your customer has gone bankrupt) you can write this off against your profits.

Insurance Counts, Too

As a business owner, it’s imperative to have business insurance. At the very minimum, professional indemnity insurance helps protect you against claims from clients. If you run exhibition stands or people visit your premises, you’ll also need public liability insurance by law. These costs all count for allowable expenses.

If you’re a member of a professional organisation or union, you can often include professional indemnity insurance in your membership, so it’s worth checking the fine print before you take out a separate policy.

Marketing Costs

You can’t run a business if you don’t shout about it! Everything you do to market your business can count towards allowable expenses.

So, when you set up your website, your hosting and domain costs are allowable expenses. Your flyers, business cards, and online pay-per-click adverts are all counted, too! If you have a product to sell, sending free samples to reviewers is classed as marketing.

Attending an event? Get branded items from Vistaprint like pens, stress balls, keyrings, and everything else you need to give away as tempting freebies – they all count as a legitimate marketing expense. The same goes for print advertising in your local paper or national magazines and newspapers, paying to list your business in a directory, and your direct mail costs.

Alas, taking potential clients out for dinner does not count as marketing. ‘Client entertainment’ isn’t an allowable expense. If, however, you meet with someone to get their advice on a business aspect and buy them lunch instead of paying for their consulting time, this can be expensed as it is a payment in kind. You can also charge subsistence for drinks and food to a reasonable amount if you are working away from your usual place of work, such as if you have to visit a different city for a conference.

Clothing and Uniforms

Do you want to get t-shirts with your logo on? What about branded hoodies from Vistaprint? Perhaps you want to wear a smart uniform that’s only used for your line of work, such as if you run your own cleaning business. Or, if you need special clothing such as steel-capped safety boots, those can be claimed.

You can claim branded clothing as a marketing expense. You can also claim uniform costs – and you can claim laundry costs for uniforms, too.

You can’t, however, claim for clothes that you’d wear normally at home. Or even a business suit for meetings if you’re usually in jeans and a hoodie! The rule with clothing is very much that it either has to count as marketing (i.e., branded) OR used as a uniform ‘wholly and exclusively’ for your business.

The one exception to claiming for clothing that is not task- or uniform-specific is for performers like actors. They often need to buy clothes for auditions or their own performances, so if it is a costume it is an allowable expense.

Continued Education

This is an interesting one. You can include things like trade magazines in your allowable expenses, plus membership to recognised industry organisations if they’re related to your business.

Further education also counts as an allowable expense if it builds on a skill you already have for your business. For example, if you’re a freelance events producer, your job is mostly marketing. So, you could claim for a marketing diploma or even a full CIMA qualification. However, you couldn’t decide you wanted to change careers as a bricklayer and count that course as an allowable expense.

This still leaves your opportunity base pretty broad, especially if you’re a sole trader. For example, let’s say you’re a freelance writer – lots of writers benefit from learning how to use graphic design software. So, an online Photoshop course could count. Or, any business-related course such as a bookkeeping qualification will also qualify for any sole trader, as they need these skills to build and maintain their business.

Attending trade conferences and events also counts as continued professional education – so make sure you put your ticket costs down as an allowable expense, too!

Travel and Vehicles

If you commute regularly to an office, you can’t claim those costs as an expense. Everything else though is a great big tick in the Yes You Can Claim column!

Train, bus, even air fares all count if you’re travelling wholly and exclusively for business purposes. If you buy a vehicle solely for your business, you can count the purchase as a capital expense (or the lease fees as an allowable expense). All MOT, insurance, servicing, repairs, parking, and fuel is allowed, too.

If you use your personal car to travel for work, you can claim mileage costs. This is based on the HMRC mileage rates which is set fairly high so should cover fuel costs as well as wear and tear incurred.

Other Expenses to Consider

There are lots of other costs that MIGHT be an allowable expense. You need to ask yourself if it’s used ‘wholly and exclusively’ for business use. Here are some examples you may come across – it all depends on your line of work and whether you use something only for your business with no personal use.

Subscriptions

Trade journals are a clear allowable expense, as is subscription-based software like GSuite or Dropbox. But did you know you could claim for other things – including buying books and newspapers, or even subscriptions like Netflix and Spotify?!

You need to prove a real business use. Playing Netflix while you’re working for ‘office entertainment’ doesn’t count! However, if you are – for example – an actor or budding film director, you could justify the subscription as a research tool. The same goes for Spotify if you’re a musician or podcaster, or even things like Twitch if you’re a gamer trying to make an income from streaming.

Gym costs

Now, 99.99% of the time this won’t wash with HMRC. HOWEVER, if you are – for example – a sports model, it’s your job to keep fit and stay looking healthy. If you’re a personal trainer, gym equipment counts as an allowable expense, too.

Haircuts and beauty treatments

If your job is based primarily on your appearance – i.e., you’re a model or an actor – you could try claiming costs for hair and beauty treatments. You’ll need to be able to prove, if questioned, that the expense was a legitimate business claim though!

Hotels

Travelling anywhere for business meetings or events often means going a long way from home. You’re entitled to claim your accommodation cost as an allowable expense if your trip is 100% business related. If you choose to extend your trip, you can only claim the nights that were required for your meeting.

Overnight meals

Like hotels, if you’re travelling away from your primary place of work for an overnight or extended trip, you can account for overnight meals. This doesn’t mean going all-out and getting a steak dinner with champagne though – the cost must seem reasonable.

Pensions

We can’t stress this enough: contribute to your pension! Self-employed people often put themselves last, especially their older-way-in-the-future selves. Start squirrelling away money into your pension every month – even if it’s a small amount.

While it’s not an allowable expense on the tax return, there is another section that asks you to declare your pension contributions. It’s important you include your total annual contributions here, as it means you’ll make the most of the tax relief on offer – meaning free money for your pension pot!

Guard dogs

One of the funniest claims we’ve heard of being accepted by HMRC is a guard dog. You’re entitled to claim for security costs to your business premises – if your dog is considered a guard dog, technically you can claim for their purchase, upkeep, vet bills and food! However, always remember that HMRC could audit you at any time – so if you’re thinking of listing your chihuahua as a guard dog, maybe think twice…

 

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How to Make Quick Money Selling Scrap Metal in the UK

When you’re looking for ways to make quick money in the UK, it’s easy to think of online surveys or selling clothes — but did you know you could turn old junk metal into fast cash? Scrap yards pay the same day, and many even transfer money to your bank within hours.

That’s why Vicky Parry, MoneyMagpie’s go-to expert on creative money hacks, is here to show you how selling scrap metal can be one of the fastest ways to make money from home.

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Why Scrap Metal Is a Fast Way to Make Money

Unlike side hustles that take weeks to pay out, scrap yards and licensed buyers usually pay you the same day. All you need is ID and a few items of scrap, and you can walk away with cash in your account — often within an hour.

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The Most Valuable Scrap Metals (for Quick Cash)

• Copper – The quickest earner. Even a small bag of copper wiring from old chargers can net £10–£20 on the spot.

• Brass – Common in taps and fittings; buyers pay fast because it’s always in demand.

• Lead & car batteries – A heavy but reliable quick-cash option.

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Household Items You Can Sell Today

If you want to get money fast, here are items you may already own:

• Old cables and chargers → Take the copper inside to a yard.

• Broken appliances → Microwaves, kettles, and laptops all contain steel, copper, or aluminium.

• Bikes, BBQs, and garden tools → Steel and aluminium sold by weight.

• Car batteries and wheels → Always wanted by authorised buyers, usually same-day payment.

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Where to Sell Scrap for Same-Day Payout

• Local scrap yards – Weigh in, get paid via bank transfer within hours.

• Scrap apps (e.g. ScrapBays) – Upload a photo and get competing quotes instantly.

• Nationwide networks – Larger sellers can arrange free collection and quick bank transfer.

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Laws to Keep in Mind (So You Don’t Get Caught Out)

• Cash-in-hand is illegal – but transfers are usually instant or next working day.

• Take ID – driving licence or passport needed.

• Collectors need a licence – one-off sellers don’t, but repeat traders must register.

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How Quickly Can You Get Paid?

• Small loads (like cables) → often £10–£30, same day.

• Bigger items (like boilers, radiators, bikes) → £50–£100 in one trip.

• Car batteries or catalytic converters → £20–£200 depending on type, usually paid immediately by transfer.

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Final Word: Scrap = Quick Cash

If you need fast money today, look no further than your garage, kitchen, or garden. Scrap metal is one of the quickest side hustles in the UK — no waiting weeks for payouts, no complex sign-ups. Just gather, weigh in, and walk away with cash in your bank.

Next time you’re thinking “how can I make money fast?” — remember: that rusty bike or box of old cables might be the quickest answer.

FAQs: How to Make Quick Money from Scrap Metal in the UK

How much is scrap copper worth in the UK?
Scrap copper is one of the highest earners. As of 2025, prices range from £3,000–£4,500 per tonne for bare bright copper wire, with pipes and fittings close behind. Even a few kilos of copper wiring can fetch £10–£30 quickly.

Can you still get cash-in-hand for scrap metal?
No. Since the Scrap Metal Dealers Act 2013, paying cash for scrap is illegal in the UK. Dealers must pay via bank transfer, cheque, or prepaid card — usually same day.

How quickly do scrap yards pay?
Most UK scrap yards pay by instant bank transfer or same-day BACS. That means you can drop off scrap in the morning and have money in your account within hours.

What scrap metal is worth the most money?
The most valuable household metals are copper, brass, and aluminium. Car batteries, catalytic converters, and alloy wheels are also quick earners.

Do I need a licence to sell scrap metal?
No licence is needed if you’re just selling personal scrap occasionally. But if you plan to collect and sell regularly as a business, you’ll need a Scrap Metal Dealer Licence from your local council.

What everyday items can I sell as scrap?
Old chargers, cables, laptops, kettles, bikes, lawnmowers, taps, and radiators all contain valuable metals. Even broken appliances can earn you quick cash.

Disclaimer

This article is for information purposes only. MoneyMagpie and Vicky Parry are not responsible for any losses, injuries, disputes, or legal issues that may arise from selling or handling scrap metal. Always check current laws, prices, and safety guidance before selling, and only use licensed scrap metal dealers.

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HAPPY SEPTEMBER! MoneyMagpie’s free Autumn cash giveaway For 2025

Who doesn’t love a little cash giveaway to kick off a new season? September is here, and while the news is already buzzing with predictions of doom and gloom around the Autumn Budget, we’re here to brighten things up. At MoneyMagpie, we love treating our readers, and this month we’re giving five lucky winners a £10 cash prize each – the perfect pick-me-up to celebrate the start of September.

If you’re new here, don’t worry – our giveaways are 100% legit. We’ve run loads of competitions before and have had plenty of happy winners who can vouch for it. Whether it’s free goodies, vouchers, or cold hard cash, we’re always on the lookout for ways to give back to our loyal readers. This latest cash giveaway is just another way to say thank you for sticking with us.

So why not throw your hat in the ring? After all, someone has to win – and it could be you!

What We Are Offering!

We are offering 5 readers £10 each. There are no strings attached at all. Simply comment on the article with what you would spend the tenner on, and then in four weeks, 5 people will be selected to win the money.

MoneyMagpie founder Jasmine Birtles said: “It really doesn’t feel much in the greater scheme of things, but if it helps a few people then we are more than happy to step in. We have had a record number of people writing in and asking us how to access quick cash, and in reality there aren’t many ways that are safe to the consumer. Therefore, we just wanted to offer them a chance. We are strongly against gambling so didn’t want our readers to go there, therefore it’s simply cash.’

We will get the money to you in the form of PayPal or an Amazon Voucher.

How to Get involved with the free cash giveaway

So, as stated above, for your chance to get your hands on a tenner, just answer ‘what would you spend an extra tenner on this month?’ in the comments below. The comments will close at midnight on Sept  30, 2025.

We will notify the winners on October 1, 2025 in hope of making their Autumn that bit cosier.

Good luck. We look forward to hearing your answers.

The post HAPPY SEPTEMBER! MoneyMagpie’s free Autumn cash giveaway For 2025 appeared first on MoneyMagpie.