Hi OZB community
I am after some ideas to earn some extra income each week. I am only thinking $100 per week and would ideally like something that is flexible as I have 2 children under 3.
I have thought about doing some bar work on weekends but I would prefer something more flexible that I could do throughout the week.
I look forward to hearing your suggestions
Cheers
Benny
Well said. These responses have certainly got me thinking.
this comment makes me sad about my weekend job. I do really need to spend some time with my 4yrs old son. thanks, Mskeggs.
Don't be sad.
Sometimes it is necessary to get some more money.
When I was in primary school my Dad occasionally cleaned rentals when the tenants left it a mess. We'd come along and push a vacuum, and explore the stuff people left behind. It was cool,and I found a pocket radio once.
He also did some window cleaning and I came along sometimes as a 7yro. It was just after dawn, and we had toast and quiet breakfast so we wouldn't wake mum and my sister. One place was the pinball/arcade machine factory/showroom. That was cool.
And when I was a teenager, he sub-contracted some assembly work for spa motors, which involved riveting a few pieces together and crimping a wire harness together. Doing some of that got me some pocket money.
Those were cool and interesting things to learn about with my Dad. Looking back, I didn't need days at Luna Park all the time (well, twice when I was a kid and once to SeaWorld.).
But it wasn't my Dad disappearing on weekends like all day during the week.
Later our family had retail businesses, so it was normal to pitch in together.
Huh. I haven't thought about some of this for 40 years. Nice. I'll give the old bloke a call later and remind him of it.
Can I have my pocket radio back thanks
Oh man what great honest insight and delightful stories you have with your parents. It sounds like you guys had it right growing up. Kudos to your parents.
Mate you have a great childhood! Thanks for sharing this to us!
Yeah, naah, dont worry. Have seen many adults who wish their old man would have slogged a bit so they could of been more comfortable. Many think the dad was just lazy. So, there's that.
I’m same train of thought… but sometimes I think gee it would be a lot better to be crying in a souped up lambo
Do you need to soup up a lambo?
If I had the cash for a lambo u bet I’m getting all the upgrades
@WhyAmICommenting: or you have too much to spare just boil it. The tyre would taste better than shoes, with a tinge of gravel and oil. Other parts are nothing quite like it.
Drinking soup in the lambo because that's all he can afford after.
Have you considered becoming an investment banker?
Nah. They're being replaced by code in 2022 and beyond.
Banking Industry Cuts Millions of Jobs Forced by AI and Digitization in Banking
Alex & Linda • 6 min read
https://www.theuxda.com/blog/banks-will-cut-millions-of-jobs…Banks could soon suffer massive wave of job losses, analysts say
BY KHRISTOPHER J. BROOKS UPDATED ON: OCTOBER 1, 2021 / 5:20 PM / MONEYWATCH
https://www.cbsnews.com/news/banking-100000-jobs-wells-fargo…
Love this comment and agree completely.
All those extra things money buys are nice but they are not what you really remember as a kid. You remember if your dad was present. Did he bathe you, feed you, play with you. Did he model a loving supportive partnership with your mum (were they happy!!!)? Was he there for you every day to support and love you?
I’m not against OP picking up extra work…my own father managed to be very present but often worked 60 hour weeks simply for us to survive - not for extra perks. He was fortunate he could work to his own schedule though which meant he was home at the hours we (and mum!) needed him most.
But you definitely have to think it through and balance it carefully.
OP I’d suggest ironing or cleaning as side gigs you may be able to work your own hours around.
I worked a 7 day roster when my kids were young, it worked to a degree when it came to caring for kids while my partner worked, but around the 5yo mark i gave it away for a 9-5 role so i could be involved in their sports. Got the 'joy' of scoring cricket, goal umpiring football and all the other jobs that come up. Worth taking the 20%ish pay cut in my opinion
Well said. I did the same.
Totally agree
While I wholeheartedly agree with this and the world could use more parents spending more time with their kids, you could go overboard with this too.
Make sure you still have a life without your kids as well, as they will grow up and start having their own one day as well.
Thst was a great post it’s not all about the money to sum it up.
I think ur suggesting the relationships of those mega rich with the beach house have come as a consequence which I don’t know about. I think it’s cause and effect they would probably have the same terrible relationships regardless of beach house or not imo but now I’m the one insinuating. Could be their relationships are strengthened in some way and they appreciate it more.
Agreed, it's better to just excel at one thing and then let your money do the work for you. Side hustles just detract from your main job and your lifestyle for the vast majority of people.
Defi yield farming with stablecoins at 25% interest is the way to go, relatively low risk, nearly zero effort. This is the future, don't be like David Letterman mocking Bill Gates about how dumb the internet was in 1995.
From my 10.5 months of experience in crypto, this would have made more money for me than trading risky crypto assets like bitcoin, eth or anything else. If only I discovered this earlier, now you get to know from the start.
Lol. Don’t think the Internet being important doesn’t mean stable coins aren’t the CB radio of the 2020s.
The question is easy for people considering putting money into crypto. If you were around when the Dutch tulip craze took off, would you have bought in?
A lot of people will say ‘no’, too risky to lose all my money. Some will say, ‘you bet’ and they may or may not make profits. And some will dither until they see the flower prices get to crazy levels and decide they need to join in - just in time to cop the losses.
Everyone gets to pick, but it didn’t mean tulips were the future back then.
If you were around when the Dutch tulip craze took off, would you have bought in?
I get more bullish every time people brings up tulips.
I DCA, zoom out, sit on my hands and practice patience.
@rektrading: How many tulips are you still holding? Will they be retesting past highs any time soon?
If you don’t like tulips as an example, how about South Seas stock, or Poseidon nickel or pets.com stock?
Tulips, nickel mines, exclusive trading zones and Internet retailing are all useful and retain some value. But they all were massively, massively over valued, and joining the party too late was a recipe for huge losses.
It is trivially easy to see crypto is the same. Everybody who says the technology is world changing doesn’t understand how technology works.
Even if distributed ledger/computing brings advantages that are lasting (against the threats of regulation etc,) then the technology can be simply copied. If the RBA or CCP decides there is an advantage in using crypto for interbank exchange, I can guarantee you they won’t use an existing coin.
If Goldman Sachs sees advantage in using a DAO to distribute some application, it would be literally stupid for them to use Eth or another costly token, when they can run their own for free.
If somebody wanted to assure they hold the correct IP rights to use an image, they would be the most amateur of fools to use an NFT.
I didn’t have anything against crypto until I saw its vast environmental cost, and large crime footprint. So it isn’t even like it is “whatever”. Crypto is actively making the world a worse place. Maybe there will be a final spurt up, which is pretty normal in bubbles, or maybe there won’t. But sooner or later the music will stop - so buying and holding is not a way to make money, because eventually you’ll be left holding the bag.
@mskeggs: My lowest-performing tulip is up 58% YoY. The highest performing tulip is 7200% YoY.
Like I said.
I DCA, zoom out, sit on my hands and practice patience.
May I ask what platform pays 25% for Defi yield farming?
Where to start research of Defi yield farming? Any reliable recommendations?
I logged in to upvote this, excellent!
I am only thinking $100 per week and would ideally like something that is flexible as I have 2 children under 3.
Stick with playing with your babies. You can always make money later when they grow up and stop playing with you.
or take them along, depending on the hustle.
fammmy business
Deuce Bigalow Male Gigolo?
Isn't that just OnlyFans with extra steps?
$10
do something strange for some change?
Salary sacrifice scam where you sac for a top of the line iphone 13 pro max and then attempt to figure out how to offload it at 5% off rrp for cash?
.#meta
The answer is gig economy food delivery. Preferably on a bicycle to reduce costs.
And drop the now redundant gym membership.
Savage.
With DIY e-bike set on Ebay, house solar panel set up, cancel your gym membership, get $100 easy!
whats gig econ ?
Food delivery paid by job rather than fixed salary (e.g. Uber Eats).
$100 a week, just budget harder and enjoy family life.
Agree, could achieve this with little pain.
Some ideas if OP is not doing already:
*Use Aldi (mamia) nappies and wipes, not huggies or other brands. Great products, made in Oz and about a third cheaper. Two kids in nappies could easily save a couple of hundred a year
*Don't buy takeaway coffee, make your own
*Eat out less
*Make sure you're getting the best price on your utilities - internet, gas, electricity etc. See energymadeeasy.gov.au
*Know when your electricity is peak/shoulder/off peak if applicable. For instance, i will not do a load of washing or run the dishwasher during peak hours.
Check insurances every damned year too!
yes, also if you had your car is no longer under finance (incl salary packaging) you need to inform the insurance company, the premium will drop, maybe by $20, but financed car insurance is higher.
You are assuming OP is not already doing all of this. There may be a reason why they specifically need the extra money in pocket, eg need to upgrade car, need to pay off a debt etc. But yes with 2 kids if they use childcare all that may happen is the extra money gets eaten up by less CCB
There's no such thing as "enough" cash. When you get the extra $100/week, you're going to wish you had more.
Like others have said, your time is better spent with your kids while they're young.
I don't know what you do now for a job, but assuming you're on a salary that is within the 30% marginal tax rate, you just need to ask for a $7K payrise to net that extra $100/week.
The $100/wk should also be assessable income, so only need a $5k payrise (assuming OP wants to be above board).
All of the ideas proposed will have expenses and there is risk it won't make the money expected, so the deductions are probably worth making it legit?
OP works at a uni, you cant just 'ask for a payrise' there are specific bands same as public service
I work 2 jobs, fulltime 45 hr weeks and 3 hour shifts as a casual nightfiller at woolworths $34/hr. So far i have netted an extra 7.5k in the last 6 months averaging around 12 hours a week.
Not a bad flexible side hussle to help repayments on my mortgage.
Slaving away while the bank owns you and one accident will cause it to come tumbling down.
Although i agree 'work can feel like modern slavery' to some extent.
I feel like in Australia we have adopted the mentality that 38 hours a week is full time and that is 'enough' and should be enough and perhaps it 'should be but in most cases It simply isnt in the modern world where property prices are high, taxes are high, cost of living is high - if you follow the crowd and earn the median income in Australia ~63k then in most major cities you cannot expect to own a home let alone live a comfortable life-style.
It all depends on what you want out of life but imho if the money is there to be made then make it - i have kids so these days i draw the line on weekends i refuse to work and ensure that is 'family' time but during the week i got no issue doing 12 hours days if the money is there to be made. - it prob depends on what industry you are in, i got a few mates that work commercial trades and without the weekend OT penalty rates money they would never got ahead or at least go into their family home.
I do understand that working extra 'sucks' for most people but the avg standard of living is declining in Australia but if you do what the average does then you need to start expecting less in regards to life style with the way things are heading…
38 hours a week is far too much in this day and age. It is not healthy or sustainable to work your guts out 5 days a week for 40 years in a miserable job. I want to see us fully embrace the gig economy, and the government should step in, abolish Centrelink and provide a UBI in its place. Give everyone a living wage, and free up time and ability for people to start businesses or do gig work to supplement. Work sucks, but when you work on your own as your own boss there is great satisfaction and lifestyle benefits to be had. I know I couldn't handle working full time for somebody else. There's plenty of opportunity to make money and have a flexible lifestyle nowadays, but it's the ever increasing cost of rent, groceries, housing etc that is strangling people. Something needs to change.
@nubzy: I dont actually disagree with some of what your are saying but im going to 'play devils advocate' for a moment -
I would like a UBI over centerlink as i think the current means tested system doesnt work and a social security system should be for EVERYONE regardless of being rich/middle class or poor i dont like this idea of 'those who need it most' it should be 'for those who fall on hard times' - I think we have become a country in which the system that looks after the top 1% and the bottom 5% but completely neglect the remaining 94% of people.
however a liveable wage UBI probably wouldnt work if the recent COVID payments are anything to go by all that will happen is people wont want to work 'low paying jobs' thus your Coles/Woolworths/Bunnings/Officeworks etc will need to pay more $$$ to attract workers resulting in 'higher' costs of living - thus making the 'set' liveable wage 'unlive-able' very quickly.
@Checkmate3023: Problem is capitalism relies on the exploitation of the underclass. People ( those with decent salaries) have gotten too comfortable without realising people are being exploited on low wages and even wage theft to live their current lifestyle. COVID has only exacerbated the problem and it has come to the mainstream attention. It’s now an employees market and the employers need to adjust or suffer the consequences.
@Griffindinho: of course but that just isnt 'capitalism' that is 'human nature' my family came from a communist nation and it was no better matter of fact i dare say it was worse.
no system is perfect - but the best way to 'fix' capitalism is to tax a 'individuals' wealth not their income - however i dont know how one would do that.
Elon recently tweeted he pays 11bn in taxes which is a lot of money but in regards to his earns it is less then 1 cents of every dollar he earned and in regards to his net wealth it isnt more then 0.1%
@Griffindinho: Same old argument, leads to the same old question. Who pays for your UBI? As @Trying2SaveABuck suggested, Covid 'payments' have put this Nation in huge debt, which our children will need to address, forget about us being able to!
If someone is in a miserable job, that's their responsibility. It is not the tax payer, not the government's problem to address.
Capitalism creates, it provides productivity and opportunity everywhere, for everyone. What people like yourself don't ever wish to do is compromise. In other words, be prepared to lower your own standard of living by killing capitalisms benefits. More government intervention kills economies, the more free the market, the more productive, the better off we all are. The government produces nothing, it takes off working people then redistributes. The less there is to take, the less they have to redistribute. Yes, the rich get super rich, it's a necessary imperfection.
BTW - The top 17% of earners in Australia pay 85% of the income tax. The top 10% pay 50% of the income tax. In other words, the people most of whom work MORE than 40hrs a week are helping you to maintain your current standard of living in Australia, not the government. Have a think about that.
@FXx: I dont disagree with anything @R00D is saying i dont 'mind' capitalism but i just dont agree with the the top 10% pay more take then the bottom 60% - of course they do majority of the bottom half pay barely any tax at all but the top 10% 'majority' half what they earn if it wasnt for the plebs on the bottom doing all the work ie cleaning toilets, handling food, security etc
My issue always has and always will be tax should be based on wealth not on earnings, it is backwards approch in which 'money' or 'fiat' is the only thing of value and it simple isnt in the modern era - just bcuz you earn 200k doesnt mean you are 'rich' and just bcuz you earn 50k doesnt make you poor.
Ill give you a real life example - whilst i was at uni i worked at Woolworths there was a girl who is a single mum she worked about 15-20 hours a week earned barely enough to beat the tax free threshold from wages alone - she had inherited about 9 investment properties (which she had to split some how with her brother) and that boosted her income to sit in the 70-80k ranges (im not 100% how much she was getting but all properties were rented out) - in essences this women probably way 10-15k in tax a year but has a ne wtorth of a few million with zero debt.
Now same shopping centre their was director in a different business earning around 160k a year he had a family of 4 and a home loan of well north of 650k this man was paying around 35k a year in tax but his net worth was essentially the value of his property minus his debt (say his house was worth around 900k)
All the current system does is discourage people earning more money by dis-insensitiving work - when if anything we should be aimming to dis-inventivise excessive wealth.
Now let me get this straight i got nothing against people getting wealthy - but the issue is when wealth isn't moving or trickling down then it is a problem. Right now property in Melbourne and Sydney dictates wealth for a number of people those would have multiple properties commercial/residential are wealthier then those who dont have property or only have one but 'earn' a good wage in most cases.
It isnt just property that can make 'one' wealthy but it is the most obvious and socially 'taxing' example
thus the idea of taxing the rich needs to change to 'tax the wealthy' the example i gave the women with multiple properties should be in the highest tax bracket instantly due to her 'wealth' and the bloke struggling to support a family should be in a lower backet but in our current system it is the other way around which to me is just stupid.
@FXx: I already make compromises and am finanically stable.
I know what the conditions are like for those facing poverty and hardship. Since I was unemployed for a while before.
There’s always going to winners (the capitalists) and losers (working class/underclass) under neoliberalism capitalism. Other forms of capitalism like social democracy tend to emphasis egalitarianism and strong welfare for its citizens. Australia is heading towards what America is. A dystopian hellhole where the wealthy, who can bypass tax via capital gains loopholes, negative gearing on their property portfolios or offshore accounts.
Our public healthcare is degrading thanks to deliberate government underfunding and staff shortages.
Our welfare system needs a massive transformation to keep up with inflation since the is rate too low. You know what keeps our inflation from not rising even higher? the unemployed! Thanks to the NAIRU.
There’s no such thing as “free market” as shown during the pandemic where the government gave massive subsidies to large corporations who still made profits and choose to not pay it back, besides a select few who did.
We are at the stage of capitalism that large corporations use their power & influence for favourable policies. Also known as crony capitalism. If you think it’s a fair playing field, then you’re in fantasy land.
@nubzy: What do you mean by give everyone a living wage? Generally speaking, peoples wage reflects there inherent value they are putting into society.
You don't get paid by not providing a useful service to others?
matched betting
the only good answer
Yes agree. Been doing it for 2 and half years now and dont think i will stop anytime soon.
Hey pretty interested in starting out do use any particular service or just the Facebook pages?
@Gumster: There is tons of stuff on the internet about matched betting, read them, listen to matched betting podcasts and get an idea. If you know anyone who does it, sit with them on a weekend and see what they are doing. It is the best side hustle ever for me.
Care to share?
if you know you know
please explain
Basically anyone who is across Matched betting knows its the best side hustle expecially in australia
Couldn’t agree more, been doing it for 2 years now and constantly make a grand every week. Best side hustle ever.
Yes same experience for me. Its one of those things that sounds too good to be true but there is actually no catches.
Exactly, most people think it is straight gambling but don’t realise it is almost risk free. I have my mates signed up with me so I use their accounts as well and slip them some cash every now and then.
would you be willing to help me out with this?
Not that simple, and a good way to get promo banned.
Try the army reserve, it is usually very compatible with a public sector job.
Buy a vending machine and refill it once a month
They usually do $100-$500 a week
Where do you place it? There must be approvals/ legislation around it.. plus it would need electricity connection etc.
tell me tooo
they hold $2000 worth of soda?
If you’re at the cinemas they probably hold $4,000 worth of soda.
1000 cans?
@Tleyx: No, a larger vending machine will hold 400-500 cans at best.
I’m more just affirming that cinemas are expensive AF
And if at an airport, then $10,000
Try to do something you either enjoy or will learn new things doing, maybe something your kids can be involved in too. Some random suggestions not knowing anything about you:
- worm farming (hear me out), get a set up where you breed the live worms and sell them for people wanting to establish their own farms, (they are $30 for 500 worms at Bunnings)
- furniture restoration, get stuff cheaply do it up (paint, upholster etc), when I’ve sold my own projects like this they sell really well
- disability support worker, there’s a bit of a gig economy for this e.g. kynd
- some sort of small scale produce e.g. growing finger limes or micro greens and selling to local restaurants
- propagate and sell plants (not sure on the regulations with this one)
- teach or tutor something (depending what your skills/quals are)
- make videos of kids toys (no need to include faces) try to get enough subscribers to monetise.
For all of these you’ll need to develop knowledge of the areas, and for disability work there are various level of qualifications, but some roles require minimal, just the various checks.
That is great advice. I have been selling seedlings and fresh produce that I have grown but this can be pretty slow and the margins are pretty small unless I did it on a major scale.
I do have a work farm and have always thought about selling the worms and castings.
Thanks again !
Create a YouTube channel teaching people how to effectively grow your own produce in your backyard garden. There is a channel called 'Self-sufficient me' and he has made many videos on garden tips.
Create a whirlpool acct. You get an instant extra 2k per week after tax right there.
Tell me more!
Sell ice popsicle's, snacks, covid rat testing along the queues for covid testing.
This topic has been done to death.
Search 'side hustle' in the forum's and your mind will be blown with ideas.
Matched betting. Profit accumulator. Say no more. Flexible and I earn an extra $2-$3k tax free a month. Not a long term solution but will last you 6-12 months.
I been doing it for 2 and half year now. You got to check out bonus bank. Their discord community is amazing.
Thanks. I'm only 4 months in. I'll check them out too.
Do you pay for membership ? Is it worth it?
Seems complicated or am I stupid
I’m going to say the boring thing and upskill your main job, go for pay rises or career change.
When the kids are little, the worst thing in the world is time away from them to get some extra cash.
My father in law ended up in the high ranks of the public service, plenty of cash, fat pension. But he drove a cab on weekends when his kids were young. He had heaps of time for them when there were grown ups, but it was not the same.
I’m poorer than he, but I trained my kids sport, turned up at assemblies, took them camping.
My kids are older now, we hang out together a lot. There is enough money. I love ‘em, they love me. Feels good.
We don’t have a beach house, but we can airbnb one and it is pretty cool. Every day there is an article in the paper about people owning vast sums of money and real estate, and it makes me think, if I worked more when my kids were little, I might have a beach house that maybe they would come to. But every article doesn;t say how their relationship with their family is better because of it. It is very quiet, or sometimes mentions a divorce.
My lifestyle doesn’t sell papers, it is too drama free and nice.