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It's marvelous how much money we can save - and make - by being green. For example, did you know that you could make money out of your old mobile phone by recycling it? Instead of chucking your old phones in the bin, just send them off to a re-selling company that will recycle the phones.

Many of us have been through a few phones in our time, often leaving the old ones sitting in a drawer or under the bed. Apparently, just over a billion people around the world have mobile phones, and yet there are more than seven billion mobiles floating around. Imagine how much money could be made - and how many landfill sites we wouldn't need - if those unwanted phones were recycled!

There are many sites out there that will pay either market value, or close to, for your mobile. There are also no postage costs; in most circumstances you will get a freepost bag. The main thing to remember is to be legitimate, and be legal - it needs to be your phone that you send off, not someone else's.

The companies that take in old phones will recycle them in the best way they have, depending on the make and model of the phone and what kind of state it is in. If they cannot be re-used, the phones are recycled in an environmentally friendly way. They are first shredded, and the metals are extracted and resold. They can be made into things such as printer cartridges. The remaining waste is often incinerated.

Some companies won't accept phones without their security code, and some will pay according to the condition of the phone and the battery. If phones are locked or can be proven stolen, they will be recycled without payment.

In most cases it's as simple as going to a good online reseller and typing in the make and model of your phone. Once a price has been set, the company will take your details and send you out a freebag for your phone. When they have checked over your phone and accepted it as legitimate to the details you gave them, they will send you a cheque.

The kind of money you can make depends on the make and model of phone and how new it is. Here are examples of how much you could make if you sent your old phone off to one of the recycling companies:

Nokia 6230
Cash value = £14.33
mopay.co.uk = £18.28, non-working price £6.09
envirophone.com = £16.48

Samsung D500
Cash value = £14.92
mopay.co.uk = £26.03, non-working price £17.41
envirophone.com = £17.16

Of course, if you are feeling generous, you could make money for charity instead by donating your mobile to them. Larger resellers will offer to put a percentage of your mobile worth into a charity, not only helping yourself but the environment and a good cause. Or you could give the old phone directly to your local charity shop. Many of the large charities have special deals with re-sellers, where if they can get people to donate their phones, the money they make can go towards projects to help the charity.

So, register with Mopay and Envirophone and see how much your old phone is worth to recycle, send it in and wait for your money to arrive!

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Jasmine Birtles is from Money Magpie - the website that gives you a richer life