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Last updated: 26 April 2019

While cutting down on cost is one way to help you save if you’re struggling to pay off debt, you should also consider other avenues to supplement your existing income so you can get out of the debt cycle sooner. Here are 5 ideas for a side hustle you could try to increase your income stream:

 

Become a driver

Ride-sharing services, such as Uber, are now more popular than ever! These services allow many Aussies to generate additional income using their car, which would otherwise be sitting unused in their garage.

As a driver-partner of these types of services, you can have the flexibility to choose your own hours and the freedom to drive different locations. This can be a great way to maximise your earnings when there’s a surge in pricing during peak hours or in certain hotspots (like CBD or airport areas).

How to get started: All you need is a moderately recent car, a driver’s licence and the right to work in Australia.

 

Deliver food

Don’t have a car? That’s ok, some food delivery services (like Deliveroo) can be delivered using a bicycle or a scooter.

How to get started: All you need is a scooter, motorbike or bicycle, a smartphone, a valid ABN and the right to work in Australia.

 

Rent out your space

Got an extra bed or bedroom that’s not being used? Why not consider listing it up on Airbnb and become a host. If you have room to spare with location relative to attractions and public transport, you could start monetising your space.

How to get started: All you need is a space, a bed or a room and that you have the right to host under your local laws and regulations.

 

Sell stuff online

You can basically sell anything you want online using eBay, Gumtree or Facebook Marketplace. If you have unwanted items that are either new or used lying around the house, this can be a great way to help earn some extra cash.

How to get started: All you need is to ensure the items are in good condition and they have resale value.

 

Take up tasks

People always need help in some way, so why not offer your helping hand but also get paid for it? Airtasker has a whole range of different tasks posted by the community, from home-related to office-related type projects. Pick the task you want and get paid for the price you offered.

How to get started: All you need is to have time and the determination to deliver the task well.

 

Want more tips on how to save more effectively? Visit our Learning Hub for more information!