Making money is a hobby that will complement any other hobbies you have, beautifully. – Scott Alexander
With Christmas and Diwali around the corner, it is a stressful time for many people. Here are my top 10 tips for making some quick money without spending a lot of time or effort. Happy reading!
1. Bank accounts and credit cards
Banks and credit unions regularly offer attractive deals to bring in new customers which include free money, bonus points or cash backs.
For example, at the time of writing, HSBC is offering $100 for opening an Everyday Global Account with them. In addition, BankSA and St George Bank are offering $40 for opening a new Complete Freedom everyday bank account when you apply online by 24 January 2022.
2. Utilities Energy providers often try to entice new customers with delightful offers like free credits or special discounts. Red Energy, AGL, Energy Australia, Alinta Energy are some of the many energy providers which offer sign up credits to sweeten the deal for new customers.
3. Get cash back on purchases It may be hard to believe but you can actually get cash back on purchases. For instance, if you register with Honey or Cashrewards or Shopback, you can get either discounts or anywhere from 1% to 15% cash back on your purchases.
Both Cashrewards and Shopback use similar platforms and cashback methods. Let's say they are both offering 10% cash back on making a purchase from Chemist Warehouse. Here are the steps you could take:
i. Step 1 - Register an account with Cashrewards or Shopback; ii. Step 2 - Log into your account;
iii. Step 3 - Seek out Chemist Warehouse from the database of Cashrewards or Shopback; iv. Step 4 - Click on the Shop Now icon which will take you to the Chemist Warehouse website where you make your purchase; v. Step 5 - Withdraw cash back after your purchase is tracked and approved.
So, if you spend $100 on Chemist Warehouse, a 10% cash back would equate to $10 cash back which you would be able to withdraw after it is approved.
4. Market research
Market research is a relatively easy way to make some quick bucks. Some of the more prominent players in the market are Focus People, RealTime Research, Telmy, Red Galah, Stable Research and so forth. If your visit their websites and register, they will send various opportunities your way and if you meet the prerequisites, you may be asked to join a 1 hour to 3 hour focus session paying around $50-$60 per hour.
Usually, you need to visit a nominated venue for a market research session but nowadays these sessions are mostly held online over Zoom.
5. Online surveys
There are numerous online survey companies like Swagbucks (paid in USD), Pure Profile (paid in AUS), Octopus Group (paid in AUD) and so forth which would literally pay a penny for your thoughts. However, it is necessary to remember that these surveys can be quite time-consuming and may ask for a lot of personal information while maybe paying around $1 per minute of your time.
6. Sell pre-loved items
You could make some quick bucks from selling pre-loved items through a garage sale or via online platforms such as Ebay, Gumtree or Facebook marketplace. Not only can you do some spring cleaning and de-clutter your house, you can also turn your trash into treasure. It is judicious to request payment first or payment in person to avoid getting scammed by scammers pretending to be potential customers.
7. Cash in reward points
You should check your reward points on your Flybuys (Coles) and Everyday Rewards (Woolworths) accounts and turn your points to gift cards or money off grocery shopping. Moreover, your credit card company may have rewards programs which may allow you to convert points (earned through shopping) into cash backs and gift vouchers. These reward programs are usually free to join.
8. Rent out a room or rent out your house
If you have a spare room or if you are planning on going away during the holiday season, you should consider renting out your room or house on Airbnb or Flatmates to make some dough. For long term rentals, you could consider using RealEstate and Domain websites.
9. Rent out your garage
If you have a garage that you don't use, you can rent it out. I have a friend who lives in Melbourne CBD and rents out his garage for $200 per month. You can ask family/friend/neighbours/colleagues or put up ads on various websites like Parkhound Parking or Spacer.
10. Rent out your car
You could consider renting out your car and make $100-$500 per month. Some of the more popular websites you can use are CarNextDoor or DriveMyCar.
Disclaimer:- Please note that information contained in this article is not financial advice. Please do your own research before embarking on any of the money making pathways identified above.