If you’re interested in financial freedom and eventually quitting your full-time job, you’re in the right place. In this guide, we’ll discuss a few personal finance tips that will help you earn money from different sources, and put you on the road to financial independence.
1. Make Use Of Credit Card Rewards
First, make sure you have one or more credit cards that provide you with rewards when you shop. You can often get up to 1-5% of the money you spend back, depending on the categories and offers provided by the credit card company.
Other cards let you get rewarded in the form of airline miles, which can be redeemed for travel as well as products, in some cases.
If you shop with credit cards regularly, there’s no reason not to get one of these cards – you could “earn” hundreds of dollars or more per month in rewards for stuff you’re buying anyway! This guide from Mozo has an overview of a few great rewards cards you can apply for.
2. Find Rebates & Coupons On Products When Shopping Online
Similar to the first suggestion, this does not involve making more money directly – but saving money on products and services you already use. There are a lot of different websites that let you earn rewards and coupons when you shop online.
This, in turn, helps you save more on your regular monthly expenses – from going out to eat, to groceries, and even services like plumbing repairs, in some cases. If you want to learn more, check out this list of the 12 best Australian coupon sites.
3. Start A “Side Hustle”
Getting a “side hustle” or another part-time job is a good way to earn more income and start working toward financial freedom. There are lots of jobs you can do without much startup cash – like walking dogs, lawn care, and becoming a virtual assistant.
Create Australia, for example, lets you quickly become a refund consultant – you can help people in Australia and even in the US and UK find lost money that belongs to them, and refund their money.
You get a percentage of the payout, and the satisfaction of helping people refund what’s owed to them – and you don’t need a lot of technical knowledge or business knowledge, since Create Australia helps you learn about the entire process! Find out more about how to start your own business in Australia.
4. Create An Investment Account & Invest In A Mutual Fund To Earn Passive Income
If you’re not investing in the market, you’re missing out on a lot of potential residual income. We highly recommend opening up an investment account with a major Australian broker, and investing in mutual funds that have high dividend payouts.
Basically, a mutual fund is a large “pool” of stock from different companies. You can invest any amount of money in this fund – and get part of this “pool” along with regular dividend payouts.
Eventually, you can make quite a bit of money each month from these payouts. Click here for a
guide to mutual fund investing.
5. Consider Investing In Real Estate
Investment in real estate will require a lot of up-front cash – but purchasing a property to rent out for side income is a great option.
The time and effort you spend purchasing property, renovating it, and managing it for a renter will pay off for a long time – and once you pay off the initial mortgage investment, your rental units will be extremely profitable.
Obviously, though, you may not have the cash or the time to do this. What’s another way you can get involved? By investing in Real Estate Investment Trusts (REITs) in your investment account.
A REIT is a special type of mutual fund. Basically, it consists of a lot of different income-producing real estate properties. These can include office spaces, medical buildings, industrial and commercial complexes, single-family homes, theaters, hotels, and more.
Basically, when you buy a REIT, you will get part of the profits of the properties as dividends, allowing you to earn passive income. REITs pay about 90-100% of their profits to owners – so you’ll get quite a bit of cash if you invest heavily into REITs.
6. Start An Affiliate Marketing Blog
If you love writing, you may want to start a blog for affiliate marketing. This is the process of advertising products to buyers using affiliate links for a certain website – like Amazon.com. You can get a full guide to this process here.
When a user clicks your affiliate link on your blog or social media page, you’ll get a percentage of all of the stuff they purchase – so this can be very lucrative if you find the right industry and blogging niche.
For example, if you love pet care, you could create a blog where you review and promote pet hair removal tools, dog treats and dog food, and other products that pet owners may be interested in – and you can earn cash when customers follow your recommendations.
This will require a bit of technical knowledge to get your blog set up, optimize your content for search engines (SEO) and start earning money, but it’s a very scalable way to make money – and you can set your own hours, write in your spare time, and still get great compensation.
Need To Get Started Right Away? Create Australia Is Here To Help!
With so many options for earning money from different sources, you may be overwhelmed. So if you pick just one idea from this list, start a side hustle with Create Australia!
We make it super easy to get the education and tools you need to become a refund consultant – and find clients to start earning money right away. You can start your business in just a few days, and start earning side cash immediately. Get started online, or give us a ring at 1800617111 to ask any questions you may have.