Our-goals-e1506053844998 Top 5 Ways to Make Easy Cash

Top 5 Ways to Make Easy Cash – Source: OurMoneyMarket Lending Pty Ltd ABN 64 605 231 669 Australian Credit Licence 488228.

So, you’re looking for ways to make a few extra dollars. I’ve been there! When I quit my job to start OurMoneyMarket I was in need of some extra cash to get by. The tasks/jobs I was looking for didn’t have to pay much, but they had to meet at least one of the following: (i) the job had to be easy; (ii) the job need to be quick; or (iii) I could do the job at a time convenient to me.

Luckily, I found enough jobs to make me, on average, an extra $200 a week. That’s an extra $10,400 a year!

So, without further delay, here are my top 5 ways to make easy cash – not become a millionaire cash, but easy extra cash:

#1 Easy Cash With Mystery Shopper

Task Difficultly Rating: Easy

Cash Reward Rating: 4/5

Oh, Mystery Shopper, how good you were to me. With Mystery Shopper, there are all kinds of jobs you can do, and you get to pick the jobs you want. Some of the jobs I did included:

  • $20 for eating a burrito at Guzman & Gomez (lunch paid for and some extra cash – tick!);
  • $35 for trying on some Lacrosse shoes and reporting on the customer service;
  • $20 for getting a Boost Juice (again drink complimentary);
  • $20 for leaving a fake reservation call with a hotel.
  • It took me, on average, around 30 minutes to complete any given task and complete the service report you must submit.

    #2 Airtasker

    Task Difficultly Rating: Easy to Hard

    Cash Reward Rating: 5/5

    Airtasker is an online peer-to-peer website that allows people to post any kind of task or job they need completed, and whether they need it done online or in person.

    With Airtasker, you can make money doing all kinds of things (e.g. writing blogs, helping someone with their resume, wait in line for the next iPhone, caring for puppies, you name it!). Generally, you stand to make between $20-$400 for tasks advertised on Airtasker.

    #3 Online Surveys

    Task Difficultly Rating: Easy

    Cash Reward Rating: 1/5

    OK, so I never really did these surveys properly, but I think that’s justified given they seem to falsely advertise the time each survey takes.

    Basically, with sites like, Valued Opinions, you can complete surveys that take anywhere between 5 to 60 minutes, and earn between $1 to $20 for your time.

    It’s not exciting money, but it’s really easy and you can do it just before bed, or during T.V ad breaks.

    #4 Sell Clothes & Furniture Online

    Task Difficultly Rating: Easy

    Cash Reward Rating: 5/5

    Selling your old clothes, furniture etc. online is a great way to make extra cash. It also removes clutter…and will make those you’re living with super happy.

    To be honest I didn’t make regular money from this (sold a couch once for ~$1,000). However, friends of mine have regularly sold their old clothes on eBay and Gumtree and claimed to make good cash doing this.

    #5 Search the Web

    Task Difficultly Rating: Easy

    Cash Reward Rating: 3/5

    Sometimes saving cash on everyday expenses is as good as earning cash. Simply add PricePal to your web browser and get notified of discounts when shopping at some of your favourite retailers!

    Due to this little beauty, I regularly received around $20 a week in cash back when I shopped at Woolworths. Friends of mine would save up to 6% when shopping at UNIQLO, Cotton On, Asos.com, etc.

    Honourable Mentions

  • UBER: If you own a car consider becoming an UBER driver. After all fees and expenses (assuming average car loan repayments), you can earn approximately $150 per week for 10 hours of driving. If you don’t own a car, but would like to become an UBER driver, get a quick rate quote today with OurMoneyMarket. We offer low rate personal loans, with flexible repayment options.
  • Airbnb: If you own property, or have a spare room at your place, consider registering for Airbnb and renting it out. Consistent users of Airbnb can earn between $1,000 and $2,000 per month. You have an asset that can make you cash, consider making cash from it!
  • Deliveroo/Foodora: If you own a bike, motorbike or car, consider signing up to Deliveroo or Foodora, you can earn approximately $20 per hour doing this and you have flexibility around when you want to work. If you’re in the market for a bike or motor bike, OurMoneyMarket offers fast cash loans, so you can start delivering.
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    This information has been prepared as general information only without taking account the objectives, financial situation or needs of individuals. All investors should seek their own financial, legal and taxation advice relative to their own circumstances before making an investment.

    OurTips-P2P-Investing-OurMoneymarket Getting A Loan - The 3 Biggest Mistakes

    Getting a loan? Before jumping into the 3 big mistakes you’re making that can impact your chances of obtaining a loan. I have a few questions.

    Do you know what your credit score is?

    If you don’t know what your credit score is it’s worthwhile finding out. You can do this for free via Credit Savvy, Credit Simple and Get Credit Score. Forewarning, by obtaining your credit score from these websites you can expect to receive emails offering you credit (not from us, as we don’t have any affiliation with them, but from our competitors).

    So, what is a credit score?

    In short, it is a number that represents your “creditworthiness” and provides an indication to lenders of the likelihood of something “bad” happening on your credit file in the next 12 months (e.g. bankruptcy, consumer and commercial defaults etc.). A diagram of Equifax’s credit scores and what they generally mean in terms of credit quality is below.

    OurTips-P2P-Investing-OurMoneymarket Getting A Loan - The 3 Biggest Mistakes

    With Equifax (previously Veda) your score can range from -200 to 1200. The higher the score the better, for example, a score of 600 means there is a 5.88% chance that something “bad” will happen on your file in the next 12 months.

    What do you think your score is?

    I guessed mine would be at least around 750 (i.e. “Very Good”). I’ve never defaulted on any loan, I’ve never missed a payment, though as I’m relatively young I figured the “age” of my credit file might go against me (i.e. not much data to draw on). Well I was wrong. My credit score is 518 (i.e. “Average”) …Ouch! So how did this happen?

    Well I made the same mistakes a lot of people make. Here are 3 common mistakes that impact your credit score and your ability to get a loan or the interest rate you deserve.

    #1 Don’t Get Sucked into New Credit Card’s Unless You Really Need It

    This was my downfall. Oh, the glory of 50,000 frequent flyer points for just signing up to a new credit card with ABC Bank – “I’ll just get a few of these bad boys and my dream holiday to Argentina will be sorted”. Sadly, each time you make a credit enquiry it impacts your credit score. Below is what happened to me the last time I opened up a new credit card:

    • Credit Score Prior to Credit Card Enquiry = 554

    • Credit Score After Credit Card Enquiry = 518

    My score dropped 36 points! Suggesting that I was now 2% more likely to have a “bad” event occur on my credit file in the next 12 months.

    Now I did this quite a few times over a couple of years (flights to Argentina are expensive and points aren’t worth what they used to be), and I know I’m not alone in doing so. It does seem unfair. My behaviour as a borrower didn’t change. I always honour my commitments. I didn’t even need the credit card. To the credit bureau’s however, the pattern of my enquiries suggested desperation and I was penalised for it.

    So what do you do if you actually need a credit card or personal loan, but are worried about the enquiries impacting your credit score? Check whether the lender has a “pre-approval” process. For example, with OurMoneyMarket you can obtain a rate quote for a personal loan in minutes, without it impacting your credit score! We’ll also test whether you meet our eligibility criteria too so you’ll know if you have a good chance of getting a loan before you proceed.

    #2 Avoid Payday Lenders If You Can

    So not only do enquiries impact your credit score, but the type of enquiry also impacts it too. This is particularly the case when making an enquiry with a ‘Payday’ lender, but also applies for credit cards.

    What is a payday lender?

    A payday lender typically provides loans of up to $2,000 with repayment terms between 16 days to 1 year. They will often charge interest rates in excess of 45% (sometimes in the hundreds), promise you quick cash within an hour and from time to time can be seen in advertisements dressed as bunnies or wizards!

    Sadly, we’ve seen some good borrowers badly impacted by payday loan enquiries, which prevented them from accessing credit 12-24 months later. Unfortunately, these borrowers had no idea the ‘Payday’ lender was considered “high-risk” by the credit bureaus. So, please check the terms and conditions before getting a loan. If the interest rate is 45%+ or is for an amount less than $2,001, then there’s a good chance its considered ‘Payday’.

    #3 Don’t Let Your Broker Run Wild

    There are many people who have had great experiences with brokers, however sometimes it can go horribly wrong. Please keep a check on your broker and don’t let them “shop you around” to lenders, as all these enquiries will negatively impact your credit score and just make things worse.

    In the case of home loans, Mortgage Managers are hard to come by, but companies such as Mortgage Direct, make it their business of knowing the “in’s and out’s” of lender’s credit policies when it comes to home loans. They can be helpful in giving you an indication of whether your home loan will be approved without impacting your credit score.

    Getting a loan with a bad credit score – How can I fix it?

    Yes, you can. However, we’ll explore this in detail in a future article.

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