What would you do with an extra $5000 in your pocket? Go on that dream holiday? Buy a better car? Add money to your emergency fund?
We can think of so many things we’d do with it!
We’ve put together 12 different ways for you to immediately start putting building up that bank balance!
1. Save up to $400 for singles and $700 for families by switching your Health Insurance provider.
Everybody’s health needs are different, so there’s no such thing as the ‘best health insurance’ overall. But once you’ve found cover that suits your health needs, the next step is ensuring that it is cost-effective.
Free health insurance comparison services will take a look at your policy with you and compare it with a number of other policies to see if you have the most cost-effective policy for your situation.
When you switch policy’s you could save up to $400 for singles and $700 for families. Let the private health insurers battle for your business!
Here are our tips on how to save money on your health insurance cover and get more in return:
- Take out cover before your 31st birthday
- Choose a cover that suits your personal needs and situation
- Consider increasing your hospital excess
- Pay your premium annually
- Set up direct debit payments
- Use your fund’s approved providers
- Join a not-for-profit or member-owned fund
- Find out whether you’re eligible for a restricted membership fund
- Compare policies and figure out the value for money from your perspective
2. Get paid to shop with CashRewards
Join hundreds of thousands of Aussies who have earned over $40 million through CashRewards.
They’re all about giving back! When you shop through CashRewards, they receive a commission and share it with you.
CashRewards offers Australia’s largest selection of online stores. Take advantage of discounts, coupons, points, promo codes, sales and vouchers while also receiving money back on every purchase you make.
On average they give 7% money back on every purchase. As the money flows in, you can transfer it to your bank account or PayPal account.
3. Earn an extra $100 bucks joining online Paid Surveys and Focus Groups.
If you have a few spare minutes on the bus or train, or simply lounging around at home watching TV, why not answer a few quick questions and make yourself some cash?
Here are some of the best Paid Survey sites we’ve found:
PureProfile – Get real time rewards for sharing your opinions. Spend them on things that you need, the things you crave, or the causes that matter to you most.
MyOpinions – They make sure that your valuable insights are generously compensated and rewarded. As you fill out our online surveys, you will accumulate points that can be redeemed instantly for gift cards and vouchers from a range of our partners, including iTunes, MYER and Woolworths.
Toluna Influencers – Inspire anything that is new and cool in this world. Products, services, pet care. Heck, even how your spaghetti tastes. You have the power to influence some of the world’s largest brands, share your insights, and be rewarded. Instantly.
4. Change your energy provider and save up to $500.
Switching your energy provider is quick, simple and completely FREE. Signing up to a new bundle deal for your home gas and electricity can save you a small fortune. However, keep in mind that each state is split into different pricing regions. This means picking the right pricing region is very important.
On average, it is estimated that switching energy providers will save you $200 a year. In some cases this number will amount to $500 or more a year. It’s like free money that you wouldn’t have had in your pocket otherwise.
However, before you switch, there are some useful things to consider so don’t just rush to the first company you find. Make sure you use a comparison service to help you get the best possible deal.
5. Get a better interest rate on your home loan.
Did you know that on a $500,000 loan if you reduce your interest rate by half a percent then you can save approximately $50,000 over the life of your loan? That’s HUGE.
Did you also know that you don’t have to do any heavy lifting to make this happen? You don’t need to hunt down hundreds of loan options to try and figure out the best loan for you.
With just a single, no obligation phone call, the friendly team of mortgage specialists at RateReview.com.au can do the hard work for you and get you a better rate!
Are you ready to save? Learn more at RateReview.com.au.
6. Got a car? Turn it into a money machine.
The city is buzzing and Uber makes it easy for you to cash in on the action. Plus, you’ve already got everything you need to get started.
Partnering with Uber in Australia is flexible. You can drive with Uber any time, day or night, 365 days a year. When you drive is always up to you.
Trip fares start with a base amount, then increase with time and distance. And when demand is higher than normal, driver-partners can earn more with dynamic pricing.
Just tap and go. When you’re on a trip you’ll get turn-by-turn directions, be able to find areas of high demand, and get 24/7 support. It’s all available right in the app.
Whether you’re supporting your family or saving for something big, Uber gives you the freedom to get behind the wheel when it makes sense for you.
7. Earn money as an Airbnb host.
No matter what kind of home or room you have to share, Airbnb makes it simple and secure to earn money and reach millions of travellers looking for unique places to stay, just like yours.
With Airbnb, you’re in full control of your availability, prices, house rules, and how you interact with guests. You can set check-in times and handle the process however you like.
Airbnb offers tools, hospitality tips, 24/7 support, and an online community of experienced hosts for questions and sharing ideas for success.
It’s free and easy to create a listing on Airbnb, check out how much you could be making now.
8. Invest spare change automatically from everyday purchases.
Raiz is a financial service, helping you to save and invest your money. They enable Australians to start early, invest often, and reach their financial goals.
Raiz helps you proactively invest. A “round-up” is the virtual spare change captured from rounding up a transaction to the nearest dollar. When you link a credit or debit card to your Raiz account, they track the spare change from your transactions and make it available for you to invest. Your round-ups will be viewable in the app. Simply choose which ones you would like to invest, or change your settings to automatically invest round-ups after each purchase.
For example, if you spend $3.50 using your credit card then that $.50 will eventually come out of your funding account when the round-ups add up to at least $5.
9. Grocery shop at half price.
Each week with just a little bit of planning you can save BIG on your groceries. Coles, Woolworths, and IGA all slash the prices by 50% or more on 100’s of products.
The Banana Stand updates you on this week’s 50% off specials every Wednesday, you can check out the latest here:
Pay close attention to non-perishable items for sale. You can save a stack of cash bulk buying non-perishable items to last you months. You can literally save hundreds of dollars per year doing this.
Also, consider planning you meals for the week around what’s on special. Love Chobani yogurt? It’s regularly 50%, so why not buy 3-4 weeks worth at a time. Just check the expiry date and calculate how many you might consume during that time and save!
By saving an extra $20 per week you’ll add $1000 per year to your bank balance!
*Do you shop at Woolworths? Don’t forget to check out how to SAVE a minimum 5% extra on all your groceries, liquor, petrol, homewares and more. PLUS as an added bonus if you shop Woolworths Online you can receive another 2.00% cashback on your shop, find out more here.
10. Spend less on fuel, servicing and tax by plugging GoFar into your car.
Your car speaks. It pays to listen! Understanding your car has never been easier with GoFar.
In six tests, GOFAR delivered average fuel savings of 9.8% in 80,000km of tests. That’s like 10c off every litre!
GOFAR installs in minutes with no tools or technical skills needed and alerts you when there’s a problem with your car – in plain english – so you can deal with it BEFORE it becomes expensive.
Don’t waste time struggling to and from the dealer. Our top rated mobile mechanics come to you!
Get GoFar today – Try it risk free. Free returns within 60 days
- 1 Year Warranty
- No Ongoing Fees or Contracts!
- Free Shipping!
- Free returns within 60 days
- 100% money back guarantee
- Free lifetime updates
11. Receive cashback from your Superannuation, Life Insurance or Manage Fund.
Did you know you could be entitled to a YEARLY cashback payment on your existing financial products from YourShare.com.au?
Australian banks, brokers and advisers are paid over $3.9 billion every year in fees and commissions on mortgages, superannuation and insurances.
Typically these fees and commissions are paid to brokers, financial advisers and other intermediaries who in most cases you may not even know. Even if you purchase the product directly, fees and commissions may still be retained by the financial institution.
You can take back your share today.
For example, if you had $100,000 in superannuation, $30,000 in a managed fund, and a $700 life insurance premium, then you would be eligible to receive $302.25 in cashback each year.
It’s simple, you pay nothing upfront, there’s just a service fee from the fees and commissions YourShare collects on your behalf.
12. Earn rewards for shopping – Shop, Scan, Earn
Be part of the IRI Shopper Panel and help shape the future of shopping. In appreciation of your time, you will be rewarded with points every week which can be redeemed for a great range of gifts. Also get a chance to enter into lucky draw to win exciting presents, gift cards and cash!
Shop, Scan, & Earn. It’s free to join and you can earn rewards simply by scanning the products you buy. The shopping information they collect will help influence manufacturer and retailer decisions.