Yahoo Finance 23 ways to make extra money in lockdown in 2021
The COVID-19 Delta strain has sent several million Australians into lockdown, with many experiencing insecure work and uncertain futures.
Every hour of lockdown costs the economy $19.1 million, with more businesses forced to close and residents relying on disaster payments and business grants to get by.
However, the experts have revealed there are small, unconventional ways people in lockdown can make a few extra dollars.
If you’ve got a bit of spare time during lockdown, here are some ways you can make some cash on the side while you wait for life to get back to normal:
WHAT TO SELL FOR MONEY
Even though many across the country are feeling the pinch from the lockdown, online shopping has jumped. A record 9 million, or 82 per cent, of all Aussie households shopped online in 2020, a recent Australia Post report revealed.
With people in NSW stuck in lockdown browsing eBay in their spare time, savvy Australians who don’t mind parting with some of their items for a quick cash boost stand to benefit.
Watches, car parts, clothing, tech
If you’ve got a watch you don’t wear anymore, people living in Sydney’s CBD and Liverpool would be keen to snap it up, according to eBay data.
And if you have some spare car parts, there is high demand for this from residents living in Greater Western Sydney as well as Campbelltown and Blacktown.
Fashion items like shoes and women’s clothing are also popular, as well as tech items like computer monitors, graphics cards, laptops and video game consoles.
Declutter and sell your pre-loved goods
Using your time in lockdown to declutter could also bring you a $5,300 windfall, according to a recent Gumtree report, which found most Aussies have around 21 items they can sell for quick cash.
So if you have accessories, books, DVDs or electronic goods you don’t need anymore – sell them online.
And if you’re willing to let go of old plush toys from the ‘90s, the nostalgic factor of Beanie Babies and even Pokemon cards make them highly valued collectable items.
This ‘Rainbow the Chameleon’ Beanie Baby toy could fetch you more than $66,000 online, while sellers who own first-edition Charizard Holo Pokemon cards can make $27,000.
WHAT TO DO TO MAKE MONEY
Do paid surveys
If you find yourself with spare time in lockdown, you can sign up to research websites to complete some surveys and get paid for it.
“Sites such as Stable Soapbox and Pure Profile offer payments to take surveys,” said financial adviser Amanda Cassar.
She estimates you can make anywhere between 10 cents for a question, to $250 for in-depth market research.
Some online jobs could be a perfect fit
Businesses have been forced to rapidly move all their operations online amid lockdowns – so if you have strong online skills, anywhere from software development to customer service, you could find suitable side hustles.
“Many are looking for support staff such as virtual assistants who can help with admin and call centre enquiries,” financial adviser Helen Baker told Yahoo Finance.
Data from Airtasker has also revealed that the following job ads have increased in the last months:
Graphic design
Writing and editing (e.g. advertising copy, blog writing, script writing)
Social media support (e.g. creating content on social platforms like Facebook, Instagram, TikTok etc)
“If you're not sure where to start and are open to any type of work to stay busy and earn a bit of cash, check out the online marketplaces for tasks such as Fiverr or Airtasker,” said financial adviser James Gerrard.
“You can view and apply to do short-term work such as writing website content, designing logos or providing general administrative assistance,” he added.
“Examples of gigs you can apply for are content writing projects, administrative tasks and market research roles.”
Meanwhile, if you’ve got a knack for coming up with clever business names – you could turn this into a side hustle. According to a new Fiverr report on global small businesses, the volume of Fiverr searches for ‘business name’ has nearly doubled (89 per cent).
And it’s even better news if you’re a ‘Shopify expert’: search for these eCommerce whizzes has just about tripled (176 per cent).
According to Fiverr data provided exclusively to Yahoo Finance, NSW businesses in particular are looking for digitally savvy experts.
During the months of June and July, the following gig listings saw huge growth: Content Marketing (+226 per cent), Sales Copy (+133 per cent) and Social Media Advertising (+113 per cent).
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Teach online
Some surprising and unexpected gigs have taken off online. Demand for singing lessons, language training and maths tutoring have spiked, according to Airtasker data, so if you’re a whiz at any of these things – or other subjects – advertise your services online.
Do odd jobs
As parts of the country enter and exit snap lockdowns, and with NSW’s extended to at least the end of August, more people than ever are ordering their food, groceries and items online – and these items need deliverers.
“Many others are staying at home and are looking for delivery services whether they be food deliveries or someone to go and pick up items that they need because they can’t leave the home,” Baker said.
“I would look at Airtasker for those one-off jobs that you can do as well as contacting delivery services and touching base with those industries who are thriving.”
And if you’re good at fixing things, you could turn your skill into a service, she added.
“Whilst many people stay in lockdown there’s a big focus on home improvement and getting those jobs done around the home which has seen a lot of people reaching out for tradies or handyman/handyperson to come and do those jobs around the house.”
Meanwhile, those with a knack for gardening could find now is their time to shine. Gerrard has seen gardening become more popular in the last 12 months all across the country, corresponding with a boom in demand for house plants as people stay indoors.
“So if you have a green thumb, good money can be made by selling vegetable seedlings, plants and trees online,” he said.
GET CREATIVE
Ultimately, there’s not really a limit to how you can make money in lockdown; it’s up to your imagination, Gerrard said.
“Pick something that you're interested in and think about the different ways you can make money from it. For example I have a client who is interested in fashion so she has been buying items from Facebook Marketplace and then reselling them on eBay for a profit,” he said.
“Vintage designer bags, scarves and shoes are among the items she has been flipping for a tidy profit.”
He also urged people to use lockdown to start on that project or side-hustle idea they had been sitting on but never had the time.
“One of my clients is passionate about gemstones and has finally been able to create an online course on how to buy gemstones and hopes to start selling it soon via Udemy,” Gerrard added.
Are you making money in unexpected ways during lockdown? Drop me a line at jessica.yun@yahoofinance.com.
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