Need extra income? As the cost of living continues to increase, many are looking for alternative ways to boost their income.
80% of Australians are turning to the internet in order to make extra cash. It’s not just those who need extra money who are hustling online; according to research by NBN, those working online are doing so in part to be fulfilled in their work and family lives.
Every person has a set of skills that they may be under utilising in their day jobs, or in everyday life. The internet gives people the opportunity to take their skills and offer them to other people and companies from far and wide. The best part is that working online usually only requires a computer and a decent internet connection. So why else are people so eager to hop online and make extra cash?
It allows Aussies to be creative and be inspired. Rather than doing the same things day in and day out, people can follow their passions while working online. Work as an accountant during the day but love to make crafts or paint at night? No problem! This openness for creativity allows people to feel happy and fulfilled.
But let’s not forget about the financial aspect of being able to side hustle and have a 2nd job working online!
Money earned from working on the internet can:
- Add extra to your emergency fund to fall back on if needed.
- Invest extra into your super or other investment accounts in order to save for retirement.
- Purchase illness and injury insurance and life insurance to protect your finances and your loved ones in case the unexpected happens.
While it may be enticing to spend the extra money being earned from working online, using it towards savings, investment and retirement goals will get you further ahead, especially the younger you start. If you have debts, you can use the extra money earned online to start paying them down. As your debts get smaller, you now have more money available to invest in your future.
If you have extra cash and you’re not sure how to protect your future, speak to Paradise Financial Group. We can review your situation and provide the best strategies available to reach your financial goals.