The pandemic forced many Australians inside, and to think about where their money is coming from. As work from home became the norm, many began exploring ways to make some extra cash online, whether through a side hustle or a full-time gig.
If you’re looking to replace hours of doomscrolling during weekends or your free time with something more productive while growing your savings, making money online is a good option.
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Savings.com.au’s two cents
Making money online isn’t about finding a shortcut, it’s about matching your skills, time, and risk tolerance with the right opportunity.
From freelancing and investing to selling unused belongings or building an online presence, these options show there are many ways Australians can supplement their income online.
Freelancing
Freelancing is a way of working where you offer your skills or services to clients on a project-by-project or contract basis. Freelance work is usually paid per project, per hour, or per task, rather than receiving a salary.
A key appeal of freelance work is that it can be done remotely and typically online, making it a popular way to make money on the side.
Freelancers can work in almost any field, including:
- Writing and editing
- Graphic design
- Web development
- Marketing and SEO
- Photography and video editing
- Consulting and coaching
- Accounting and bookkeeping
- IT and tech support
Research during the Covid pandemic found lockdowns and reduced hours forced many Aussies to freelance their way to an income using online platforms such as Fiverr and Airtasker.
These online platforms allow users to create a profile and complete one-off tasks for businesses or individuals, setting their own rate and schedules.
The realities of freelancing
Melissa Gerke is a former teacher who transitioned to freelance copywriting in 2018. She told Savings.com.au that while freelance work offers many freedoms, it isn’t without challenges.
“The leaner times you have to tell yourself things will pick up, and they do. Also, you have to learn and wear many hats, such as accountant, marketer, and sales,” she said.
“You need to get comfortable with sharing your image, phone number, and some facts about yourself online, which is a big step for some professions, such as teaching.
“Also, don’t get caught in the race to the bottom. It’s difficult at first to price your work, but don’t get into the trap of discounting what you do.”
In-demand freelance skills
According to Fiverr research and recent Business Trends Index reports, the following skills are among the most in-demand and higher-paying freelance services.
|
Skill |
Earning range per project* |
|
NFT development / art |
$700-$2,100 |
|
YouTube editor |
$335-$840 |
|
Shopify developer |
$1,000-$4,200 |
|
Blockchain developer |
$1,000-$5,620 |
|
3D animation |
$1,300-$4,900 |
|
Facebook ad manager |
$700-$3,300 |
|
Voice over |
$150-$700 |
|
Website copywriting |
$160-$680 |
Source: Fiverr
*Estimated historical project ranges. Actual earnings vary.
Peggy de Lange, former VP of International Expansion at Fiverr, said non-fungible tokens (NFTs) are becoming a useful way for illustrators, artists, designers, and developers to monetise their skills and work with businesses and individuals investing in this space.
What the expert says
The fact that over four in five Australians freelancers are already earning income by selling NFTs and related services showcases the foresight that freelance talent have in staying on top of the latest technology trends.
It also shows the massive opportunities that NFTs and related services, such as blockchain technology and the Metaverse, have for future job creation.
Australian startup Canva has also analysed popular online side hustles in the country.
|
Job |
Average cost per job
|
|
Proofreading and editing |
$121 |
|
3D and 2D modelling |
$126 |
|
Blog post services |
$36.10 |
|
Illustration |
$42.10 |
|
Social media advertising |
$29.50 |
|
SEO services |
$85.80 |
|
Video Editor |
$19.60 |
|
Ghostwriting |
$28.30 |
|
Animation |
$19.60 |
|
Website design |
$45 |
Source: Canva
Whether you are transitioning to using freelancing as your main source of income, or just looking for a side-hustle, freelancing could be a viable option for making money online.
Need somewhere to store your part-time gig income and earn interest? The table below features savings accounts with some of the highest interest rates on the market.
Important Information and Comparison Rate Warning
Important Information and Comparison Rate Warning
Investing
Investing online is a way to grow your wealth over time, note, however, that it always carries the risk of losing money.
See also: Beginner’s guide to investing
Shares or ETFs
A common way Australians invest is through companies listed on the Australian Securities Exchange (ASX). You can buy individual shares or invest in exchange-traded funds or ETFs, which bundle together a selection of assets.
Investing has become more accessible via online share-trading platforms. A typical minimum investment is often around $500 per transaction, and brokers generally charge anywhere from $5-$30 to place a trade, so investing in larger amounts may help make brokerage fees worthwhile.
Micro-investing apps
For those wanting to invest smaller amounts, micro-investing apps have grown in popularity and have further helped democratize investing.
These micro-investing apps allow you to invest spare change, even less than a dollar, into ETFs and other diversified portfolios, depending on what’s available on the app.
Cryptocurrency
Investing in cryptocurrency has gained popularity in recent years but comes with significantly higher volatility than traditional investments. The rise in crypto trading has also led to a rise in online scams.
Digital currencies such as Bitcoin or Ethereum appeal to some investors due to relatively low transaction fees and decentralisation. However, crypto values can rise and fall dramatically, making them a considerably risky investment option.
Sell unused belongings
Selling clothes, furniture, or even a vehicle is a common way to make money online in Australia.
Online platforms like Gumtree, eBay, or Facebook Marketplace allow sellers to advertise items quickly and connect with buyers directly.
Social media groups dedicated to second‑hand clothing are also popular and can speed up sales.
You could also potentially make a quick buck from selling high-value items you no longer use, such as furniture, sporting equipment (snowboards, surfboards, camping gear), technology and camera equipment.
Used utes, SUVs, and other vehicles can also be sold online.
See also: How to navigate the used car market
Online surveys
Another common way to make money online is taking paid surveys. Although the pay is generally modest, completing many surveys can add up over time.
Some survey platforms offer gift cards instead of cash, while others place limits on when or how often earnings can be withdrawn. Before signing up, make sure the platform suits your expectations and financial goals.
Monetise your online presence
The rise of influencers has seen brands increasingly partner with people who have strong online following. This can take the form of paid advertising, sponsorships, or free products.
Importantly, you don’t necessarily need a lot of followers to attract brand interest, sometimes a few thousand genuine followers will be enough for brands to start reaching out.
Twitch streaming
Twitch is a live‑streaming platform best known for video games and e‑sports, but it also hosts music and creative content. Talented gamers or entertainers may earn income through subscriptions, donations, or paid advertising.
Vlogging
Vlogging, short for video blogging, typically takes place on YouTube and other video platforms. Successful vloggers can earn money via advertising revenue, sponsorships, and affiliate marketing.
Every view, like, or subscription contributes a small amount of income, which can add up significantly if a channel gains traction. If your video meets the criteria for ads, you can make more money from it.
Influencing
Influencers usually operate on platforms like Instagram or TikTok, monetising their presence through endorsements and product placements. While not every collaboration results in cash, gifted products can reduce personal expenses.
Although ‘influencing’ isn’t for everyone, it can be a legitimate way to make money online if you enjoy creating content and engaging with followers.
Podcasting
Platforms like Spotify, LISTNR, and Apple Podcasts host content on almost every imaginable topic. Building a successful podcast can lead to endorsement deals and paid partnerships as brands look to align themselves with popular shows.
