How to Earn Extra Income in Australia

Earn extra income in AustraliaThe easiest way to save more money is to make more money!  Your full-time job doesn’t need to be your only source of income.  I’ve put together his post with 15 ways you can earn extra income.  Some of these methods can be done in your spare time with just 15 minutes, and others can grow into part-time jobs.

Here are my favourite ways to earn extra income:

Start a Money Making Website

Starting a website is one of the best kept secrets for making extra income.  These days, anyone can setup a website without any technical skills in about 20 minutes.    I’ve been building websites and blogs for the last 15 years and it’s now my number one way to make extra income.

I recommend starting a website on Siteground – it’s what I use!  Using Siteground, you can build a WordPress blog like this one, automatically in just a few clicks.

Creating content for your website can take a while, but once it’s up and running you’ll have yourself a a source of income that makes money while you sleep!

Copy other Traders

Trading is hard!  But what if you could copy the stock trades made by profitable and experienced traders.  This is called copy trading.    All you need to do is find the right people to copy and check in your portfolio every now and then.  The traders do the hard actively investing for you.

Find people on eToro Copy Trading

You can find out how to use copy trading here.

Earn Dividend Income

Dividends are company profits that get distributed to shareholders.  Dividends are probably the purest form of passive income.  Once you’ve bought a dividend stock, you’ll automatically earn dividends without you needing to do anything more.

To earn a serious amount from dividends you’ll need a lot of money.    To earn about $30k a year, you’ll need at least $500k invested.  However, dividends can compound if you reinvest them back into buying more stock.  So even if you start with a small amount, your dividend portfolio will progressively grow faster and faster.

Dividend stocks on Stake
Some of the dividend shares you can buy on Stake

I use Stake to build my dividend portfolio with U.S shares – it has zero commissions and supports fractional shares (invest with as little as $10).  So I’m able to build a portfolio using a small amount of starting capital.  If you’re looking to buy Australian shares I would recommend either Superhero or Selfwealth.  Both are low cost brokers but you’ll need at least $500 to start investing.

Extra Income Tip: Get a free stock on Stake here

Make money Proofreading

Proofreading is a job you can do with just a computer/laptop/iPad and an internet connection.  It can be done anywhere in the world.    It makes a great side hustle as you don’t need to spend a huge amount of time working and the work you do is flexible.

If you want to get into proofreading, I would recommend taking this free course.  You’ll learn everything you need to know about getting started as a proofreader and how to find jobs.

Publish a book on KDP

Kindle Direct Publishing or KDP is Amazon’s self publishing platform.  Anyone can use it to publish a book in the kindle store.  Writing a book will take time, but once you published a book it can generate passive income for years to come.

Amazon also runs a program called Kindle Unlimited.  It’s a bit like Spotify but for books.  You’ll earn a share of Amazon’s income based on how many people read your books.

The top authors on KDP earn more than a full-time income, but it’s also possible to earn just a little bit each month as a side hustle.

Sell your old Stuff

You’d be surprised just how much money you have sitting around collecting dust.  What might be a forgotten item for you, could be valuable to someone else.

Sites like Gumtree make it really easy to sell stuff online.  I’d recommend giving Gumtree a browse to find items that people are selling, and which you can sell too.

If you want to take selling to the next level –  why not flip items from Garage and estate sales!  Selling online will put these products in front of a larger audience and create more demand.

Earn interest on your Crypto

Do you have crypto sitting around in a wallet?  Are you waiting for the next bull run?  Well while you wait, why not earn interest on your crypto.

I use YouHodler to earn up to 12% APY.  This is waaay more than what you’d get from a bank.     The amount of interest you’ll earn will depend on the crypto you deposit.  Stablecoins generally generate more interest, but you can also earn interest on Bitcoin and Ethereum.

Youhodler Earn Interest

Youhodler is the platform I currently use, but I would also recommend Blockfi as an alternative option.

Sell your Skills on Fiverr

Fiverr is a marketplace for online services.  On Fiverr you can get anything from a logo designed to a resume typed out.  There are tens of thousands of people who are selling their skills in a writing, design, marketing, coaching and more.  You too can sell on Fiverr.

The best way to figure out what to sell on Fiverr is to browse through the site see what is currently available.

Earn Extra Income on Fiverr

Make Money running a Minecraft Server

Did you know you can make money by running a Minecraft server.  Minecraft is still one of the worlds most popular games with over 100 million monthly players.  Some Minecraft servers make hundreds of thousands of dollars per month.  While this kind of profit is out of reach for most people, you can made a small amount of side hustle income by running your own server.

You can make money from donations, sell cosmetic items,  sell advertising, Merch and much more.

Starting a minecraft server costs less than $10.  If you’re an experienced Minecraft player, you’ll be able to setup your own server without too much trouble.    Building a server is all about growing a community and then monetising the community.   It’s also a lot of fun!

Stream on Twitch

Streaming is a growing industry where the top streamers are multi-millionaires.  Reaching that level of success takes hard work and also a little luck.  Streaming however can supplement your existing income.  Some of the most successful streamers started while they had another job and then transitioned into full time streaming as their channel grew.

Overall streaming is a tough gig, but getting to play video games while making money sounds like a dream job for many people.

Extra Income Tip – the best Twitch streamers use multiple platforms to earn income.  They’ll upload videos to YouTube and clips to TikTok as well as sharing content on Instagram and Twitter.  This way they can make more money from sponsored deals and Merch.

Become a Trader

Trading is a job that you can do from anywhere in the world and you don’t need to rely on anyone else.  Becoming a successful trader is difficult.   It is however a skill you can learn.  I would recommend starting with a practice trading account from eToro.  It’s free and you won’t risk any money while you learn.

There are plenty of good trading courses available online, but I would recommend combining learning with practice trading.  The other benefit of eToro is you can copy other traders, as all trades are shared publicly.  It’s a great way to learn from actual full-time traders.

Earn interest with Volt

If you have cash savings then you may as well be earning interest on them.  Volt is a new neo-bank in Australia which offers a higher interest rate compared to traditional banks.  But it’s still fully regulated and covered by The Australian Government’s Deposit Guarantee.  That means if there’s any kind of financial collapse, your money is safe.

Volt Bank

Your interest will compound in Volt, so you should earn more and more as your savings grow.  Volt is one of a number of different neo-banks that are offering higher interest rates.  It’s worth shopping around to find the best deal.  Some traditional banks also offer great introductory rates that are worth taking advantage of.

Interest from HISA’s will never be huge, but you may as well earn as much as possible.

Complete Micro Tasks

You can get paid to complete micro-tasks such as transcribing audio, typing out words in images, comparing speech samples and much more.  These tasks take < 1 minute to complete and pay around $0.03-$0.30 each.

Amazon runs a platform called MTurk.  Previously this wasn’t a good deal for Australians as you weren’t able to withdraw your earnings to an Australian bank account.  Well now you can!  Amazon has just announced they support virtual accounts like TransferWise.  This means you can get paid from MTurk into your bank account via TransferWise (and you’ll actually get a really good exchange rate and there are no fees).  So working on MTurk is now a legit way to earn extra income in Australia.

Neevo is another platform that I’ve found works in Australia.

Make money with Surveys

Online surveys are one of the easiest ways to make money online.  You can get paid anywhere from $0.20-$5 per survey.  You generally get paid more for longer surveys.

I’ve found that Qmee, Swagbucks and Octopus Group work best in Australia.  I make the most money with Qmee and Swagbucks. Octopus Group does have the highest paying surveys though they only have a few available at any one time.  All three are worth signing up for.

make money with qmee

Extra Income Tip – On Qmee and Swagbucks you can withdraw your earnings to PayPal.  You can then deposit this via PayPal on share trading platform eToro.    So instead of just spending your earnings, you can invest them into shares and grow your wealth even more!

Write for Medium

Medium is a popular publishing platform.  But did you know that writers on Medium earn money based on how many people read their stories.  On Medium you can write anything from news articles, how-to guides to fiction.

You won’t earn as much as running your own website, but it’s an easy way to get started making money from writing.

Your Favourite Ways to Earn Extra Income

What are you favourite ways to earn extra income?  Let me know in the comments

Read Next: Are you looking to earn extra income online without having to leave your home?  Make sure you read: 6 Ways to Make Money Online

 

This post is for educational purposes and should not be considered as investment advice. This post is based on individual experience and journalistic research.

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