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Looking to make some extra cash?

Whether you’re looking to boost your regular income, save up for a big purchase or create a contingency fund to fall back on, there are plenty of ways to put more money into your pocket. Here are a few ideas to get you started:

1. Sell things you don’t need anymore

Getting rid of clutter around the home is a great way to earn some extra cash, but it has other benefits too, such as reducing stress and giving us a greater sense of control and wellbeing. Don’t go overboard. Selling pre-owned items usually means you’ll be selling them at a discount to the price you paid for them. And, if you happen to sell something that you need in the future, it could mean you end up buying the same thing again down the track. To get your selling underway, check out eBay, Gumtree, or your local Facebook marketplace.

2. Make the most of online platforms

Most of us have more skills to offer than we realise. Thanks to the internet, you don’t need to start a business to use these skills to create an income. You can access a wide range of online platforms that can help you exchange your talent or time for money. From selling your handmade creations, to becoming an online tutor or helping out with administrative tasks or manual labour, there are countless ways to make some extra dollars. Some popular platforms you may want to check out include:

  • Air Tasker – help others out with day-to-day tasks, from pick-ups, to furniture assembly, gardening or cleaning.
  • Freelancer – sell your admin, design, marketing or IT skills to businesses around the world for an hourly rate.
  • Etsy – if you’re the crafty type, you can sell your handmade items, such as clothing, jewellery or art to buyers looking for a more unique purchase.
  • Udemy – create an online video course and teach others your skills. As an instructor, you earn money each time someone purchases your course.

3. Get involved in the sharing economy

Whilst renting out your spare room to holidaymakers might be off-limits right now, those living in your area may need some of the things you have and take for granted. Is your car sitting idle on most days? Try listing it on car-sharing site Car Next Door. Do you live in a convenient location? Rent out your driveway on Parkable. Do you have highly coveted storage space? Try renting out your garage on Spacer.

4. Get savvy with your finances

You can also increase your income by making sure you lose less of it to unnecessary expenses. Are you over-paying on fees on your bank accounts or super? Have you reviewed your insurance policies in the last 12 months? When was the last time you reviewed your budget? Have you checked whether you have any long-lost super? The pay-off from scrutinising your finances from all angles could surprise you.

These are just some ideas that could get you on your way to making more dollars. Thinking outside the box and being creative with what you have, will bring you the most success.

This information has been provided without taking into account your objectives, financial situation or needs. Before acting on this information, you should consider its appropriateness, having regard to your objectives, financial situation and needs. All loans are provided by Beyond Bank Australia Limited, 100 Waymouth Street, Adelaide, SA 5000 ABN 15 087 651 143 AFSL/Australian Credit Licence 237856. © 2020.