Nine quick ways to make an extra $20,000 per year

An Aussie financial adviser has revealed what you need to do to earn an extra $20,000 a year.

Many of us know how to tighten our belts. The problem with that? There’s only so far those belts will tighten. But what if, once you’ve finished looking at ways to reduce your expenses, you also considered ways to find more cash? As a money expert, I can help with that. Here are nine things you can do that take 15 minutes or less to either set up or do that will find you more cash.

1. Use a cashback app

Apps like Shop back or Cashrewards here you receive cash back simply for shopping online or in store. I use both of these apps and play them off like needy lovers against one another. Now, the trick here, is not to subscribe to their emails and be tempted to shop when a large cashback is available. Instead, I add them to my browser and an alert pops up when I’m already shopping. Will that mean that they understand my browsing habits? Yes. Do I give a s**t? No, because it means that I’m more likely to do it. And so far I have saved, with thousands of dollars in my Shop Back or Cash Rewards accounts.

So why on earth? Like, why wouldn’t I do that? Let’s be honest, we’re all giving away data. We’re all giving away our sharing history. I figure at least this way, we’re getting paid for it. So this is the simplest tack. It will take 15 minutes maximum if you are a technology laggard to set it up. Once it’s set up, it will take you less than one second to click on it while you are already shopping online. Make upwards of $1000.

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2. Rent out your stuff

Most of us think about selling things when we’re thinking about finding more cash. But what if you don’t want to part with your stuff or maybe you have things you don’t realise you could rent out instead? There are so many sites available and honest, what you can rent is only limited by your imagination. Examples of things you can rent out include your caravan, motor home, driveway, swimming pool, spare room, power tools, clothes, panels on your car and so much more. Make upwards of $1500.

3. Complete surveys online

Completing surveys online might not bring in the same amount of cash, but every little bit can help. And where I love surveys, if you are sitting at the doctor’s office or if your kids have got sport and you are sitting in the car, you could be sitting there doing surveys rather than doom scrolling and actually make 20, 30, 40, 50 bucks while you’re sitting there. A better use of your time than sitting there doom-scrolling on Insta. So the sites that you can go to do surveys include Octopus, Stable Research, Chat For Cash, Farin, Askable, Purple Patch, Realtime Research, and so much more. Make up to $50 each time you do it.

There are several ways you can quickly make some extra cash. Picture: iStock

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4. Email your mortgage broker and ask for a better rate

This is the biggest bang for your buck on this list. Yes, we appreciate that some of the two and froing might be a little bit longer than 15 minutes, but to actually get the ball rolling it will take you five minutes and has the potential to save you thousands of dollars every year. Saving upwards of $3500 every year.

5. Use technology to save money on food

If you want to see where a lot of waste happens in your household, go back and add up your good bills for six months. Not to mention that according to data, the average Australian household throws out food waste that equals about $50 a week. Ways to save that include Supercook where you can put in what you have in your pantry and it will tell you ways to use it. When it comes to grocery shopping, Frugl, Wiselist and Half Price will all help youfind the cheapest deals rather than paying a loyalty tax. Save upwards of $2600 per year.

6. Pet sit or pet walk

The 15 minutes is going to be the sign up process because if you’re already walking of a morning or an evening, you may as well be paid for that by walking someone’s pet. Or, if you’re at home working, you could be paid to have someone’s pet stay with you. I have a friend who has young kids and don’t want the commitment or expense of a pet and this is a beautiful way to introduce one to the household and the money pays for the daughter’s ballet lessons. Make up to $15,000 per year.

Have you considered dog walking? Picture: iStock

7. Ask for a payrise

This is such a simple tip, but also it’s also one that is not necessarily easy to do. Now, what you don’t want to do, is say to your boss that your rent is going up so you want a pay rise. Or you’ve been there for twelve months and you want a pay rise. That’s a you problem not a them problem. Instead, the most successful way to ask for a payrise is to put a case study together for why you deserve a pay rise. What do you contribute to the business? How have you gone over and above the job that you’re in? What are others in similar roles being paid? What is the benchmark for your role? Pocket upwards of an extra $2000 per year.

8. Look for cash

This one seems really random, but look for cash. Whether that’s physical cash under your car seats at the bottom of your bag or cash that you don’t realise that you are owed. That might mean heading to the Tax Office website or there are different websites where you can find forgotten shares, forgotten bank accounts, forgotten super. This is money that is yours that you didn’t realise. It’s just about recovering it. Find from $10 to thousands of dollars.

Melissa Browne, an accountant, CEO, speaker and author. Photo: Bob Barker

9. Negotiate your bills

Cause I think there’s one thing where so many of us, for the ease and convenience of it, we’ll just have things on direct debit. And you don’t necessarily pay attention cause you go, oh yeah, it’s taken care of. You go, I’ve got the bill. Don’t worry about it. It’s automatically going to get paid, but making sure that you are negotiating your bills and your utilities and all those things because it is going to be saving you money. Basically generating your money if you’ve got more money sitting left in your bank account that hasn’t gone to bills and it’s going to be earning your interest as well. Save $100’s of dollars each year.

One final tip – open a separate bank account and put that ‘found’ money in it. Don’t let that work just go in lifestyle creep or spending. Open a bank account and be intentional about what you’re going to put that extra money towards. Maybe that’s a buffer account, a credit card debt, savings or investing.

Melissa Browne is an ex-financial adviser, best-selling author and now a financial educator who went from 5 figures of debt to becoming financially independent. Check out her resources and courses including her 8 week My Financial Adulting Plan at www.melissabrowne.com.au and follow her on Insta at @melbrowne.money