Ok so the heading sounds great, and who wouldn’t want more cash?  With rising interest rates and general market uncertainty, we all want a little extra in our bank balance.

Let’s have a look at some options out there that may just provide an added windfall.

1. Lost Super

Remember that job you had once packing shelves at the supermarket, or the paper delivery?  Ever wondered where the super went?  Changed jobs and never really looked at the paperwork you signed?  Changed address or email and lost contact with an old fund?  Chances are you may have some lost super out there and it is worth checking.

Good news – the money is still yours, you just need to claim it.  It will either be with the ATO or with the original super fund.

The search is relatively simple.

  • Go to MyGov website and log in
  • Ensure your account is linked to the ATO
  • Select ‘Super’.

This will show detail of your super accounts and consolidate them into one fund if that is your preference.  Not everyone wants to do this – consider whether there is insurance held in super you require, which account to consolidate to and if there are any advantages to a particular fund.

You can also call or fill in a form to look for super. More detail can be found at https://www.ato.gov.au/forms/searching-for-lost-super/.

Sorry to say, that unless you meet a condition of release, this isn’t going to benefit you until retirement.

2. Unwanted items

One option for an immediate cash injection is to sell some unwanted items from around the house.  Remember those presents from last year, that unwanted home décor, the kid’s bike they have outgrown, computer games that just aren’t cool anymore?  Clothes can definitely raise a few dollars from a clean of the closet. With a multitude of options to sell online, this can be an excellent way to raise money and buy something you want now.

Depending on the online platform used, take care with scams, consider insurance for expensive items sent out and consider where is best for pick up / drop off of items.

Yesterday’s goods are today’s treasures!

3. Grow your own plants

So the kids are now on holiday and looking for something to do. Why not put them to work on making a veggie garden?  This can be a fun experience for the kids and yourself.

Take the kids to your local garden centre and let them choose some of their favourite veggies and herbs. The enjoyment of eating your own carrots or cherry tomatoes combined with a few extra dollars off the grocery bill.  Planting a citrus tree will also pay off over time.

4. Airtasker / Uber and part-time roles

Part-time roles can help fill a gap at this time of year and whilst time with the family is important, a few hours spent on an odd job could just get the ultimate present for someone.

Airtasker is an online site where people list odd jobs they want done. If you can assemble flat packs or trampolines, this may be for you. Have a look on the site for typical prices and know what you are worth before you sign up for a job.

Uber will allow you the flexibility to choose your hours and your trips. You don’t always get to choose who the passenger is, but if you are going from point A to point B anyway and can get some money from someone needing a lift, this may be perfect.

These ideas may not be for you and perhaps controlling the budget in other areas is a better way to save. With rising living costs and loan repayments, planning on how to manage your finances is critical. If you need some help, talk to one of our financial advisers.

Please note this article provides general advice only and has not taken your personal, business or financial circumstances into consideration. If you would like more tailored advice, please contact us today.