Strapped for cash? Here are some ways to make money on the side

Strapped for cash? Here are some ways to make money on the side
Photo: Aaron Amat, Bigstock

Being broke is one of the worst feelings a person can experience. If your bank balance is dangerously low, making you wonder how you’re going to make ends meet, then it’s time to stop worrying and start acting. Here are some clever ways in which you can make some money to sail you through the month.

3 Ways to make money when you’re in a cash crunch

Sell Your Car For Cash

Do you have a clunker sitting in your garage taking up space? What if you could turn that junk car into cash? There are many car wreckers in Australia who offer cash for cars. You can sell your old or damaged car to them as it is, and they will pay you cash for the car. Since they buy cars as they are, you don’t have to worry about fixing up the car for sale. Not only will you get some cash, you will also get some valuable space in your garage, space that was previously wasted on a clunker.

Become a dog walker

Dog walking is a great way to make some extra money on the side. You can do it after work and on the weekends. You’d be surprised at how many people pay for dog walking services. In our busy world, with our hectic schedules, more and more dog owners are finding that they simply do not have the time or energy to take their dog for a walk every day. The solution? Hiring a dog walker. Once you build your reputation as a reliable and trustworthy dog walker, you will get referrals and can charge a high rate, making quite a bit of cash on your spare time.

Become an Airbnb host

Australia attracts tourists the way honey attracts bees. People from all over the world come to Australia to see our natural wonders and experience the Aussie way of life. And what better way to do that than to stay at a local’s home? Rent out your home on Airbnb. It’s a great way to make money.

Quick tips to save money

Making money is only half the battle won. If you don’t know how to save money, then you will forever find yourself in a dire financial situation, chasing after money. The trick is to not just make enough money but save it and make your money work for you. And how can you do that? Here are some quick tips that can help you save money in the long run.

  • If you eat out a lot, try to cut down, limiting yourself to a maximum of 2 to 3 nights a week.
  • Love coffee? Invest in a good coffee machine so you can make the morning coffee at home instead of getting one on your way to work. You’ll end up saving a lot just by doing this little thing.
  • Peddle or walk to work. If your office is within walking distance, ditch the car and walk or peddle to work. You’ll save on fuel costs, and if you pay for parking, you’ll save on parking charges as well.
  • Invest in energy efficient lights and electronic appliances. If you have the cash to spare, it is also a good idea to invest in solar panels. They’ll help you save money on energy bills, but more importantly, they will add value to your house, increasing its resale price.
  • Keep your credit card in a hidden slot in your wallet or purse. Out of sight, out of mind. Limit credit card usage for emergency situations only. If it’s something you want and not need, then pay for it with your debit card. If your funds are running low, then you need to prioritise and spend the available funds on essentials such as rent, groceries and fuel, and make do without the nonessential items.

Making and saving money doesn’t have to be rocket science. A little planning, breaking some bad lifestyle habits and making some investments that give good returns is all that it takes to build your wealth. Start small and build your way up as you go. Remember, your finances should be in your control – not the other way around.

What do you think about it?