With rising costs and an underperforming stock market, 2023 hasn't been the best year for our finances. Now it's more important than ever to have multiple streams of income.
These are the best ways to make money online in Australia for 2023.
The Best Ways to Make Money Online in Australia
Over the past few years, I've been testing out the best ways to generate a side income online. These are the ways I found worked best:
Paid Surveys
One of the easiest ways to make money online in Australia is by completing paid surveys. Unlike other methods, making money from paid surveys requires no special skills and it's possible to make money quickly.
I signed up to a bunch of Australian Paid Survey sites and I was able to make around $20 in a day. Some of the paid survey sites I was using support instant payouts. So I was able to get cash quickly into my PayPal account.
The amount of money you can make in a day really depends on how much time and patience you have. Completing surveys can be quite boring. But it is something you can do while sitting on the couch watching Netflix.
While you won't be able to get rich completing surveys and I don't think you'll be able to make anywhere near a full-time income, it is a good way to make around $100 a week. It does require quite a bit of time.
Best Surveys Sites for Making Money Online in Australia:
- PureProfile – This has been my number one earner. They have a large number of surveys for Australians.
- Qmee – Qmee is my second best earner in 2023. They give a bonus if you complete surveys regularly.
- Swagbucks – One of the oldest survey sites. Offers a huge range of ways to make money online, although I get screened out of more surveys on Swagbucks.
Referral Codes
One of the quickest and easiest ways to make money online in Australia is to take advantage of referral codes. A bunch of apps and services will give you a little bonus just for signing up to their site. Each app has different requirements. Here are some apps that offer bonuses when you sign up using a referral code.
- Spaceship – Get $10 Free when you sign up and invest at least $5. Use the referral code: S8Z6TJ1NUF
- Raiz – Get $5 free when you sign up to Raiz and start investing. Use the referral code: V9FYBD
- CoinSpot – Sign up using a coinspot referral code to get a bonus $10 worth of Bitcoin.
- Ubank – Get $20 free when you sign up to neo-bank Ubank and make 3 purchases using your new debit card. Use this Ubank referral code.
- Cashrewards – Get $10 free when signing up to Cashwards using this promo code and make a purchase.
Remember if you're signing up to an investment app always read the PDS. And this post shouldn't be seen as investment advice.
Niche Websites
Starting a Niche Website is one of the best ways to make money online. Niche Websites offer numerous income opportunities. You can place ads, use affiliate marketing, sell sponsored posts, sell your own products and many more.
What is a Niche Website? It's a website that focuses on a particular topic. For example you could start a niche site about Gap Year Travel, Cat Toys, Organic Gardening etc. The best topic to choose is a topic that you're familiar with.
Building your own niche website is hard work and there is quite a big learning curve. But unlike paid surveys and matched betting, there isn't really a limit on how much you can make.
Some solo niche site operators that I know make well over $100k every month. For those starting out, don't expect to make much for the first year.
So how do you get started building a money making niche site? I used SiteGround to start my niche site journey. You can use SiteGround to build a WordPress Website without needing any technical skills. They walk you through the whole setup process.
Cashback
If you're not using cashback sites you are potentially missing out on hundreds of dollars. Did you know you can earn cashback every time you shop online? All you have to do is visit a cashback site, and click through to the online store.
I've been using CashRewards to earn cashback on my online purchases and I've made over $4k in cashback. I make sure I book all my flights and hotels through Cashrewards and I also make sure to use it before making expensive purchases from places like Apple.
Tip – Make sure you sign up with Cashrewards promo code to get a bonus $10
You can earn Cashback from most Australian online retailers and there are also ways to earn cashback from in store purchases as well.
While you can't earn more than you spend, Cashback is a great way to save a little extra money.
Sell Your Unwanted Stuff or Flip Products
If you're anything like me, you've probably got a lot of unwanted stuff just lying around the house. One easy way to make money online is selling these unwanted goods. You can use marketplaces like Gumtree, Facebook Marketplace or eBay. You'd be surprised just how much value you have in stuff that you'd probably throw away anyways.
Another option is to flip products. This is becoming a more popular side hustle. This involves buying second hand items like furniture, bikes, exercise equipment and musical instruments and then repairing/refreshing them and flipping for a profit. It does require some expertise, but it definitely has a lot of profit potential.
Matched Betting
I learnt about matched betting after reading about an Australian multi-millionaire who ran a massive matched betting syndicate. While replicating his results isn't going to be easy it does prove that matched betting is a legit way to make money online in Australia.
Matched Betting is where you take advantage of special offers from bookmakers and place bets that are hedged and can't lose.
I used BonusBank to learn how to make money from matched betting. It's an Australian membership site for matched betting and basically walks you through the entire process. You can find my full BonusBank Review here.
How much money can you make from Matched Betting? Realistically I think you can make ~$200 a week from matched betting. I found I was limited by the number of bookmaker offers, liquidity and my time.
