Wondering how you could save or even make some extra money?
Well, if you happen to hold some valuable fashion items, own a house, or have free time, here are some easy tips on how you could earn some extra cash.
2nd hand market and dead stock
Dead stock means the item has been produced in a certain quantity and sold out meaning you can’t buy it from anywhere anymore except second hand sales avenues.
Over the past decade, the second hand economy has boomed helped by the rise of online platforms such Facebook Marketplace, Ebay and Gumtree, which allow everyday shoppers and retailers to trade items in a serious business sense or as a bit of a side hustle.
Australia’s $34 billion second-hand economy is a lucrative market place for designer fashion labels often fetching five times their retail asking price.
Like many savvy shoppers, Gemma Crowe, who is the owner and designer of Infamous Swim has made a decent side income out of buying and selling select fashion items online, and often for much more than she paid for them.
“If it’s dead stock you can sell an item for 25 per cent more than the original recommended retail price, and that’s no kidding,” she said.
“We have also had a lot of success with Jordan shoes, especially the shoes that are numbered from when Michael Jordan played his American basketball championships.”
“The dead stock of these items resell for crazy amounts five times the amount you can buy in store or more.”
“But for some other designer items that are still available you would be looking at more like 25 per cent less for in new condition.”
Websites like Skooli, Tutor Me and Tutor.com provide resources for entering into the online tutoring space. While you don’t need to use a platform like these, they provide a lower friction entry point into the market. You could also search for online tutoring gigs on a variety of other sites like Upwork, Freelancer and many more.
What types of things can you tutor online? You could easily tutor a subject like math or science, while also teaching a language if you’re bilingual. You could also tutor musical instruments like the guitar or piano, along with a slew of other subject matters.
Rent out your home
Another way you can make money at home is to actually rent out your home. AirBnB has carved a sizable industry out of vacation rentals. While the market did exist prior to AirBnB’s arrival, it’s certainly grown by leaps and bounds since its arrival on the scene.
In 2017, AirBnB purchased luxury vacation rental provider, Luxury Retreats, and other consolidations in the marketplace have happened with leading sites like InvitedHome’s acquisition of PPG rentals and Seasoned Dreams’ platforms, and Expedia’s $3.9 billion acquisition of another vacation rental giant, HomeAway. The market is booming and the time is ripe for entry, no matter how big or small your home or condo might be.
Take part in online surveys
Simply answer online surveys or product tests and make money from home. You can easily make an extra $250 a month while watching T.V.
Basically, a paid survey is the same as any other survey you have completed in the past. You are asked a series of questions and really, that is it. The surveys are usually a decent length. They will often have a target market in mind so you will need to supply demographic details (ie age, gender, etc). This is completely normal and you will need to complete this before you will be given access.
Take a look at some paid survey websites listed below. At all of these websites you not only earn some extra cash, but also get rewarded through gift vouchers, prize drawings, free products, etc. All of these sites are free to sign up and use. Heads up: If any survey site asks you to pay, they are probably scams.
Become a virtual assistant
Work for someone from home. Virtual assistances (VAs) can do everything from checking emails and making travel plans to handling internet research or working for their small business. High-end earners can command $50-$100 an hour.
Have more tips? Share them with us – leave your comment below 🙂
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