Here on Tilly Money we have spoken about numerous ways to save money and some ways to invest that money, but now we want to talk about using a side-hustle or separate forms of income streams to earn extra cash.
There are many ways to pick up another income stream that do not require huge amounts of time or an initial investment of money. Here are some options you could look into:
There are a lot of online sites that offer vouchers and cash for completing online surveys. Be careful to pick a reliable site. Some of the top sites in Australia include; Opinion World, Octopus Group and Pureprofile.
An easy way to freelance and pick up odd jobs when you have the time is by using Airtasker, Fiverr or Upwork. You may be able to do something that doesn’t seem like a big deal to you, but someone out there is willing to pay you to do it for them. Some tasks are as simple as washing a car, writing resumes or putting together IKEA furniture (maybe that last one isn’t so simple)!
Managing an Airbnb:
If you are fortunate enough to own your home, you can rent out your place when you go away for a holiday, rent out a spare room or if you have a granny flat, use it as constant stream of income through Airbnb.
Rent out your clothes:
Do you have a few designer pieces in your wardrobe that you’ve only worn once or twice, but you keep them hanging in your wardrobe anyway? You could rent out your clothes on websites like The Volte, Rent a Dress or Outdress.
Become an extra on a tv or movie set:
This one may not be as regular as some other side hustles, but if the opportunity arises to be in the background of a TV show or movie AND earn some extra cash, why not! StarNow is one of the sites you can sign up to and be alerted to any opportunities that suit you.
Rent out your garage or driveway:
Do you live in a busy area with limited public parking but have an empty car spot of your own? You can rent out that spot on an ad hoc basis or a short to long term basis. There are a few apps that facilitate this kind of rental, one of them is Parkable.
According to a report by the National Broadband Network (nbn), 80% of Australians are looking for fulfillment outside of work and 25% of Aussies already have their own side hustle.
In some circumstances, a side-hustle is not just about making more money, but about building up a skill or passion that got pushed aside to make room for a full-time job. Many people’s side-hustles are passion projects that help them switch off from a stressful day job. This is the case for Sarah, a paramedic who enjoys picking up a paint brush on her days off. She now sells her art on Etsy and is currently busy with commissions leading up to Christmas.
After a four-year break from painting and drawing, Sarah wanted a creative outlet that was worlds away from her job as a Paramedic. After building up the courage to start posting her art on Instagram under @sarahmorritt.art, other accounts started sharing her work and people started to ask if they could buy the pieces and she thought ‘Why not?.’ So Sarah opened an Etsy account to start selling her art.
When asked what the biggest benefit to having a side-hustle is, Sarah replied, “The biggest benefit for me is having a different identity. Sometimes it’s hard to not just be a paramedic and to switch off from that persona. Emotions, empathy, fear, clinical judgement and adrenaline is worlds away from sitting down with a paint brush painting flowers and beaches… The other benefit is if I need to prematurely retire from ambulance for whatever reason, there is a potential to build up to a survivable income for the future.”
On success Sarah says, “I think my journey is successful in my own way. It’s definitely not a massive amount of sales for sure but that’s not why I started doing this. It definitely has the potential and I can see that, but it’s not the right time. It’s more successful to me because all of it makes me happy, people follow my account and it’s my little passion project that I’ve watched grow.”
Sarah’s advice for anyone wanting to start their own side hustle is have fun with it, be creative and enjoy it!
Important: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. Consider the appropriateness of the information in regard to your circumstances.