10 ways to make more money
Many of us could use some extra cash each week to help pay bills, reduce debt, and get ahead in life. By applying the right strategies and putting in a bit of effort, there are numerous ways to improve the flow of money in your favour.
Improving your financial situation typically involves two key strategies: increasing your income and reducing your expenses and debts. For instance, if you manage to increase your income by 20% each week while simultaneously cutting your expenses by 10%, you would effectively be 30% better off. It’s essential to make the math work in your favour. Over time, these changes will accumulate and lead to significant improvements.
Here are several ways to increase your income and earn more money. While these methods may not make you a millionaire, they could help improve your financial situation significantly each week. Who knows? You might even surpass your expectations!
10 money-making ideas
1. Sell unused items: Turn items you no longer need into cash by selling them on online platforms like eBay, Gumtree, or Facebook Marketplace.
2. Rent out a spare room: If you have a spare room, consider renting it out on Airbnb to create a new source of weekly income.
3. Rent garage space: If you live near a city or a busy commercial area, you can rent out space in your garage to commuters looking for parking.
4. Drive for Uber: Consider driving for Uber during weekends or weeknights. You’ll need a five-seater car that is less than ten years old and in good condition. Focus on busy times to maximise your earnings.
5. Food delivery services: You can also earn extra cash by doing food delivery work with platforms like Uber Eats, Deliveroo, or Domino’s. Requirements are generally more flexible; you might only need a car (even a model from 1990 or later for Uber Eats), a motorbike, or just a bicycle. Working a few hours on Friday or Saturday nights during dinner service can yield quick cash.
6. Participate in online surveys: Make small amounts of money by completing online surveys. Research companies offer numerous surveys that you can complete in a short time, earning anywhere from $5 to $25. Some popular options include Toluna, Swagbucks, PuraProfile, and MySurvey Australia.
7. User testing: UserTesting pays you to visit websites and apps, complete specific tasks, and share your feedback. You can earn $10 for every 20-minute video review you complete.
8. Crowdsourced work: Pick up extra cash by doing crowdsourced tasks through Clickworker.com. You can choose tasks such as data entry, form filling, and web research based on your interests and availability.
9. Write an e-book: If you have a knack for writing and are passionate about a specific topic, consider writing an e-book. E-books sold on Amazon can earn you 70% of the sales. After the initial effort of research, writing, and publishing, your e-book can provide an ongoing stream of passive income if it becomes popular.
10. Open an online savings account: Start an online savings account and transfer the first $50 (or whatever amount you can afford) of your paycheck into it every week. These accounts often offer interest rates that are 2-3% higher than regular accounts. If you pursue some of the above money-making ideas, consider depositing your earnings into this account and watch your savings grow.
With a bit of effort, your financial situation can improve significantly by adding extra income streams. Next, let’s look at the other side of the formula, ways that you can save money. Read – 10 ways to save more money.
If you’re facing a debt situation that’s spiralling out of control due to mounting interest payments, consider requesting a free debt assessment. Everyone can benefit from support at times, and if you genuinely need debt relief solutions, we’re here to help. We have assisted many Australians in reducing their debt, freezing interest, and achieving financial freedom. Contact us today – what do you have to lose but your debts?