Australians had a tough year in the job market. As the unemployment rate ended the year at 5.4 percent, many citizens found themselves out of work and in need of money. Finding a way to acquire money during this tough time can be a lot easier than you think. Let’s discuss some of the best ways to get money without having a job.
1. Sell it
This is the perfect time to take stock of all the material things you have accumulated throughout your lifetime. Go through the garage, attic, basement and your closets in search of any items that you no longer need or want. Do you have an old coin collection or old comic books that you wouldn’t mind parting with? If so, take them to someone that specialises in selling these types of vintage items and you may be surprised at their worth. You can also have a garage sale to raise money to help pay your bills until you find a job.
2. Rent a Room
If you need money and own a large home, rent out one of your rooms or your basement. Make the rent reasonable to ensure that you get a tenant quickly. This additional income can help tide you over until something else comes along. Even if you are renting your current residence, you can sublet a room and act as a landlord for the subtenant. Before you do this, make sure you have your landlord’s written permission. Even after you go back to work, this can provide additional financial assistance for the family.
3. Build a Website
Do you have a great idea and want to get it out to the masses via the internet? Build yourself a website and then research ways to get free marketing. Your idea could turn into a million dollar business. Sometimes the best motivation comes from when we have nowhere else to turn. Instead of waiting for the next job to call and offer you employment, create the job and life that you want.
5. Speciality Loans
There are different non-profits and community based initiatives that provide small loans for emergencies and special circumstances. In addition, these types of organisations may help with the purchase of necessities such as white goods. Also, if you have a pension or some form of income not coming from a job, there are speciality loans for people who are unemployed, you just need to be able to prove you have a stable income stream.
When there are minimal to no job opportunities available to you and you find yourself unemployed, making good financial decisions becomes very important to your lifestyle. By selling items around the house, renting out a room, building a website or becoming an independent contractor; you can make it through the tough times. This can help bridge the gap between the next financial opportunity, in some cases you may find a new career path or find yourself starting your own business.
This article is brought to you by Simple Living Australia, a personal finance blog that helps families and individuals with everyday money matters.
Great info here. We went through a spell 3 years ago when Rick lost his job. The independent contracting work he did during that time really made a difference for us.
Laurie @thefrugalfarmer recently posted..Encouraging Entrepeneurialism in Your Children
As long as you have something to fall back on then at least you can bring in a bit of extra cash while looking for another job.
Glen recently posted..Top Personal Finance Articles
Freelance! Diversify your income as much as you can.
Michelle recently posted..How I eliminated my debt in less than 1 year
I think I will be looking into contracting a lot more once our house is paid off.
My “unemployment” eventually turned into freelancing because I did exactly that. I didn’t wait around. And I’m still freelancing!
Budget and the Beach recently posted..Frugal Habits of the Rich
I like the idea of freelancing, but you need to be sure you will be able to provide for yourself and your family.
Good tips! Thankfully we’ve never faced this but these are some of the first things I’d look at. I would suggest freelancing as well as a hope to bring in some possible income if you have a marketable skill.
John S @ Frugal Rules recently posted..4 Reasons Why Having an Investment Plan Will Save Your Butt
I also have never had to deal with anything like this before, but that doesn’t mean it might not happen in the future.
small gigs here and there can really add up to enough to pay the bills. there are a few on sites like gumtree, I used to get lots of tutoring jobs like that and recruited builders and cleaners when I needed. Some bid very low though, chances are with word of mouth you get a higher rate.
Pauline recently posted..Can you gamble responsibly?
I agree, if you have someone put in a good word for you then your chances of being employed go up significantly.
Great ideas! I’ve done 1 and 3, and I’ve done 4 as well, but not for pay; maybe not the best strategy in retrospect.
I thought that if I could do it for free to build my reputation, then go from there. But, unfortunately, if you don’t put a price value on it, some may not value it.
Vicky recently posted..Money Rules
There are many occupations where people start out working for free in order to get a foot in the door. I think even the great Steve Jobs started out that way.
I agree on Number 1, we can earn money from our old stuff. We need to collect them and sell it through online like eBay or Craiglist.
My Wealth Desire recently posted..Dave Ramsey’s Best Tips To Stop Overspending Money
My wife and I have plenty of “stuff” that could be sold for money.
I think renting a room is a great option if you have the room and if one is comfortable having someone live in their home. You can make upwards of $550 a month renting a room where we live so it’s a nice chunk of a mortgage payment each month. Great Ideas.
Canadian Budget Binder recently posted..Dumpster Diving~The Top 5 Rules For Finding The Good Free Stuff!
I also like that option, but I don’t like potentially living with a weirdo, especially now that I have a youngster.
(knock on wood) I have not been unemployed since getting my degree, but sometime I think that if I did it would be the kick in the butt I need to really pursue my passions and try to make them a reality and a business.
Edgar@ Degrees and Debt recently posted..Weekly (ish) Roundup 1/24-2/13
I have had the exact same thought Edgar. Sometimes it takes a big shake up before you will get out of your comfort zone.
These are unique suggestions. Most of us have a ton of “stuff” that we can definitely sell to ensure our bills are paid. Websites are a lot of work and while they can be very lucrative, they can also be a money suck if you aren’t careful.
Daisy @ Young Finances recently posted..How Young Adults Can Budget for a Wedding
There are many creative ways to earn money quickly if you need it. Love your examples. Just last weekend I joined my sister and her friend while they were having a garage sale and made $200. I got rid of useless crap that was cluttering up my house. You know the old saying “one mans trash is another man’s treasure.”
I think running freelance work is one of the best ways. You can setup easily and with little to no money and just use your current skills to bring you some money.
Debt Roundup recently posted..Budget Fail: A Best Man and A Bachelor Party
I think renting a room is a great option for people who need to make some cash. If you have the space – why not? Your renter won’t be there forever and you are using an asset you already have in order to make money.
I’m trying to convince my parents to do this with their spare bedroom. They’re in a tough spot right now and could use all the extra money they can get.
CF recently posted..APR on credit cards highest in years
Thanks for sharing unique ways on how to make good money if your are unemployed. In our generation, i think building a website plays a big role in openings our ways to make money if you are unemployed.
Young people should not spend their valuable time complaining how the government is not creating jobs for them, instead, they should use their time to find for ways to get income without necessarily being employed
Peter Mutiso recently posted..30 Ways To Make Money For The Unemployed
Building a website can generate money, however it does take a lot of time and effort before it is worthwhile. It certainly isn’t an easy way to make money.
Great info! I always tell people the very first step is to purge your house. Have a garage sale or sell it on Craigslist or Ebay. There are always so many people who struggle with debt and complain about money yet they have iphones and plasma tvs. The only way to get out is to give those up until you’re comfortable again. Great post!
Sometimes selling a bit of junk can go a long way to improving your finances.
Nice post – a lot more people really should learn self-sufficient ways of making side-income (and even do it if they HAVE a job; for extra, and practice) just in case they do ever (most people will at some point) find themselves out of work and need some extra cash whilst finding another job. Many people, specifically of the older generation I think – panic and think it’s the end of the world if they’re out of work, but, you really shouldn’t give the job market that much of a stranglehold over your life…
Another good way to make side-cash that I’d recommend is writing. If you are a good writer, people – individuals, companies… they’re always looking for good writers. If you have a style, a voice, a flair or even if you DON’T – many people online are often after reviews of their products etc. writing is always a surefire way.
And, one of the easiest ways to get started in that arena is on Fiverr.