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Tip Store: Finances: Income
Keeping Track of Rental Income
I have at times been asked how do I keep track of rental income. On the first day of every month I write on the monthly planner in the Cheapskates diary when each property is due for rent. As the rent is paid it is ticked off. This also helps me to plan the weekly budget, especially those weeks when there is only one income due. The diary has also been great to keep track of those bills, such as water rates, council rates, Body Corporate fees and insurances. My Christmas present to myself is the Cheapskates planner. Best thing I ever purchased.
Contributed by Ann Green
Contributed by Ann Green
Advertising Your Business for FREE
My friend has recently started her housekeeping business while she looks for a full time job. With very little funds she cannot spend money on newspaper ads, I suggested she join local community groups,/ buy swap sale groups and overnight she joined 42 of her local groups via Facebook, she posts her business online once a week and has been very successful In gaining clients, her audience is now in the hundreds and on her first day she was booked for two jobs!!! Now two weeks later she has put on hold her plans of looking for full time work as the housekeeping jobs provide her with flexibility and a near full time wage!!! All without spending a cent.
Contributed by K. Venn
My friend has recently started her housekeeping business while she looks for a full time job. With very little funds she cannot spend money on newspaper ads, I suggested she join local community groups,/ buy swap sale groups and overnight she joined 42 of her local groups via Facebook, she posts her business online once a week and has been very successful In gaining clients, her audience is now in the hundreds and on her first day she was booked for two jobs!!! Now two weeks later she has put on hold her plans of looking for full time work as the housekeeping jobs provide her with flexibility and a near full time wage!!! All without spending a cent.
Contributed by K. Venn
Some Beginner Markets for Stallholders
Go to marketsandfairs.com.au and subscribe to their magazine, or buy the magazine at newsagents. It gives the state wide market details. A lot of the stallholder prices in the Sydney area expensive, but start off with the cheaper ones like, Riverwood $15, Concord $10, Bexley $15. Maybe start off with non food items until you find out about those.
Contributed by Jennifer Doyle
Website: marketsandfairs.com.au
Contributed by Jennifer Doyle
Website: marketsandfairs.com.au
Tips Setting Up a Market Stall
I just started a market food stall with a friend a few months ago. If you are selling food you need to complete a food handling certificate which can be done online. You need a canopy with a covered floor and enclosed on three sides if you are preparing food at the market. Any food which needs to be kept cool has to be stored with thermometers to monitor the temperature. We bought our insurance through "Traders Voice" which was about $300 for 12 months. They also have lots of advice on their website. Shop around for containers/jars for your food. Everleigh markets are huge and one of the best in Sydney. You may have to start local and work your way into the better markets. You also need to offer a product which is different as the people who run the market only want a small amount of each type of product. Do some taste testing with family and friends to get feedback. You won't please everyone; you're just trying to please the majority. Good luck with your new venture.
Contributed by Megan Hall
Contributed by Megan Hall
What to do to Sell Food at a Market
To begin with if you are going to sell food related items you need to do a food safety handling course. The cheapest way to do this is through your local TAFE. Then, depending on what you are going to sell, you may need a kitchen license, which means you have to be registered with local council. If you do apply for this ensure all your cooking items are kept in a separate cupboard away from your normal daily use items. This includes any tea towels etc. You will need product and public liability insurance, we found AAMI to be the best and cheapest. You also need to buy new jars and lids and depending on what you want to sell you also need use by labels and nutrition labels (which can be done by following details on foodstandards.gov.au). You also need to display your name and area. It sounds so much to do but it protects you and can be a worthwhile hobby to make money. Search around your area to see if you can barter for ingredients (fruit/veggies) but again it depends on what you do. Also apply for a free ABN which allows you to shop at warehouses. When it comes to selling, usually farmer markets are the best.
Contributed by Glenda Mieni
Contributed by Glenda Mieni
Tips for a Car Boot Sale
I set up a stall in many a car boot sale when my boys were young. All those clothes and toys still in great condition but outgrown. The money paid for school excursions as well as new clothes etc. The following websites are informative and helpful in advising you of both your legal responsibilities and how to maximise your sales. www.fairtrading.nsw.gov.au (click on market stallholders), www.marketstallholdersaustralia.com www.trashandtreasure.com.au You could also check individual Sydney markets such as: www.glebemarkets.com.au/stallholders My personal experience? Get there early. Make your stall as attractive as possible i.e. clothes clean and ironed, jars clearly labeled etc. Make sure you're prepared for bad weather, both rain and heat! Do NOT drop your price until you're almost ready to leave!
Contributed by Maggie Hodges
Contributed by Maggie Hodges
Market Experience from the School of Hard Knocks
Jenna, I believe I can answer most of your question after being in the business for the past 10 years. The part about best markets in Sydney I cannot answer as we only work in Queensland. You most definitely need to comply with all labeling laws. For the past 3 years all Australian states and NZ are under the one set of laws, they no longer vary according to council boundaries. You will need to show full nutritional values of food and all ingredients listed according to highest % of content and the address where the food has been packaged. This will need to be a registered packing premise (complying to and registered with your local council). Specifications include sealed, vermin proof premises with smooth, washable walls, hand washing sink with hot water, separate sink for washing up, appropriate tables that can be sanitized. This can be a part of your house but not used for any other purpose, you must be able to close it off. If you were thinking of doing home baking ,that is much more complex. You cannot do that in a kitchen that is used for other than your commercial venture. Same applies for walls, hot water, you possibly may need to have a greasetrap inserted in the drains, your council environmental health officer would advise of this. Probably a third sink for draining, sealed smooth floors, refrigeration and cooking appliances for commercial use only (not necessarily commercial grade but single use only). You would need to do a course for safe food handling. Your local council will send out brochures on food labeling laws to get you started and a talk to one of the officers will be the best place to start if you think you have a suitable infrastructure that can be used. Yes you need insurance, there a several companies who do this. Most people use Internet sourced insurance, each market will ask for a copy of this. Use by dates are also mandatory in the labeling laws. I do not know if there is a mentoring program anywhere. Unfortunately I only attended the school of hard knocks. However in the long run the harder you work the more your business grows. I wish you all the luck in the world but you won't need it if you keep working at it. p.s there maybe other specifications that I've forgotten, your local council will advise.
Contributed by Debbie Payne
Contributed by Debbie Payne
Check with Food Standards for Regulations
Yes you will have to comply with the food standards requirements. This includes labels, with nutritional information, allergen statement, best before dates, ingredients (including the percentage of the main ingredient) and your contact details. Depending on what you would like to sell you may have to have an approved kitchen. Go to Food Standards Australia www.foodstandards.gov.au
Contributed by Cindy Landsborough
Website: www.foodstandards.gov.au
Contributed by Cindy Landsborough
Website: www.foodstandards.gov.au
What You Need to Run a Market Stall
Not sure of NSW laws but in WA you if you're selling food products they must have the nutrition panel, ingredient information, batch number, best by or use by date, name and address (not PO Box). Most of our markets insist that you have a certificate showing that your kitchen has been inspected by the Health Officer of your local Council/Shire and many markets also insist that you have your own public liability insurance. It can be very expensive to get set up but I did it for six years with a home made jam business and had a lot of fun (but also a lot of hard work!). Packaging and presentation is really important as is signage, tables, shade/rain cover. My advice would be to contact the Health Department of your local Council/Shire and also your State Health Department for guidelines. FSANZ (Food Standards Australia New Zealand) have a very good nutrition panel calculator on their website. Good luck!
Contributed by Kay Allum
Contributed by Kay Allum
Market Selling Checklist
I have been doing markets for a while so I developed a checklist for myself. Market Checklist: Things to sell i.e. Clothes Books Toys Hats Bric a brac Jewellery Shoes Bags Scarves Accessories Records, CDs . Display items Racks or shelves Carry bags Mirror Signs for prices Signs for your business Float (money) Money bag for float Food Water bottles Notebook Pens Textas Sticky tape Blutac Business cards Mobile phone Camera Clothes pegs Dummy for clothes Hooks for hanging items Mat to define your space Cloth to cover tables Rubbish bags Dropsheets for your car Gazebo or umbrella if you have booked an outside stall Tables and chairs. Dress appropriately for the weather, especially if it is an outside market. Layers are best! Even if you are selling large items you may want to consider having a few small items i.e. $2 or $3. Note: If you are selling food you must be aware of all guidelines covering food handling and preparation.
Contributed by Laura Parsons
Contributed by Laura Parsons
A Little Extra "Fun" Money
Approximate $ Savings: $60+
I joined a market research company and received two jars of free pasta to test over two weeks. After filling out my opinion they sent me a $60 voucher. My husband received $80 cash for trying out four types of "Milo" type products and filling out his opinion. It doesn't cost anything to join and you get free products to boot. They also have discussion groups and taste tests outside the home which pay anywhere from $50 to over $100. The one we joined was RealTime Research, but there are probably others as well.
Contributed by Kathryn Hanish
I joined a market research company and received two jars of free pasta to test over two weeks. After filling out my opinion they sent me a $60 voucher. My husband received $80 cash for trying out four types of "Milo" type products and filling out his opinion. It doesn't cost anything to join and you get free products to boot. They also have discussion groups and taste tests outside the home which pay anywhere from $50 to over $100. The one we joined was RealTime Research, but there are probably others as well.
Contributed by Kathryn Hanish
Sell Not Spend to Boost Savings
Approximate $ Savings: $1478
January of 2009 my partner and I booked a trip to Bali. As we live on one income due to me being in my final year of uni I had no idea how I was going to save any spending money!! Then a friend referred me to a website called Gumtree where people buy and sell without all the expensive fees eBay have. I did a big clear out and in twelve months managed to hit my goal of saving $1,000 for my trip. I sold books, clothes, ornaments - you name it! Every dollar added up and the other bonus was that I cleared our home of things I wasn't using! We have recently booked another trip to Bali for February 2011 and I have already saved $478 by selling things on Gumtree again! My goal is $1,500 for this trip. It is a great site, easy to use and well worth my time as I do it all from home in my spare time and all you need is Internet access. Happy selling everyone! P.S. You'll find tons of bargains if you're looking to buy, but be careful as we are trying to save!!! My motto is sell not spend!
Contributed by Lauren Pesqua
Website: www.gumtree.com.au
January of 2009 my partner and I booked a trip to Bali. As we live on one income due to me being in my final year of uni I had no idea how I was going to save any spending money!! Then a friend referred me to a website called Gumtree where people buy and sell without all the expensive fees eBay have. I did a big clear out and in twelve months managed to hit my goal of saving $1,000 for my trip. I sold books, clothes, ornaments - you name it! Every dollar added up and the other bonus was that I cleared our home of things I wasn't using! We have recently booked another trip to Bali for February 2011 and I have already saved $478 by selling things on Gumtree again! My goal is $1,500 for this trip. It is a great site, easy to use and well worth my time as I do it all from home in my spare time and all you need is Internet access. Happy selling everyone! P.S. You'll find tons of bargains if you're looking to buy, but be careful as we are trying to save!!! My motto is sell not spend!
Contributed by Lauren Pesqua
Website: www.gumtree.com.au
Earn Cash and Give Back to the Community
Approximate $ Savings: $500 plus Having recently moved house and remarried and retired to be my new husbands carer money is tight. We have also combined two households of goods, and I have been slowly sorting through boxes and pricing and packaging items to sell. Since we live in a small country town I have been selling these items at a local market which charges a 20% commission on goods sold, but which is open 7 days a week. The price on the goods is the price it is sold for, and the commissions aid local groups like the volunteer ambulance, hall restoration, and volunteer fire fighters. I have collected over $500 in "sales" and have not had to have hoards of people at my place, or transport stuff to an open air market day or car boot sale. There are a lot of small church/community shops/markets in our state, and it is really so great to be able to sell surplus items, de-clutter, have a bit of spare cash and know you are helping community groups too.
Contributed by Glenys, Maydena
Contributed by Glenys, Maydena
Getting Paid to Shop
I have just discovered a website called mysteryshopping.com.au where you register to be a mystery shopper! After registering you can pick which jobs suit you to apply for. The company will get back to you if you are suitable and away you go! On the day and time specified you head off and do your mystery shopping, maybe on your way to drop the kids at the school, maybe whilst doing your own shopping. Payments vary depending on what assignment you do.
Contributed by Kylie, Newport
Website: www.mysteryshopping.com.au
Contributed by Kylie, Newport
Website: www.mysteryshopping.com.au
What Can You Sell to Raise Money
When we need a bit of extra cash around the house or might need to buy something, I often sell things on eBay that aren't being used around the house. For instance my husband has a mini disc player that he never uses now that he has an ipod. I sold the mini disc player for over $50! The buyer paid by PayPal and I didn't have enough money in the account to withdraw it without significant fees. At the same time my baby son really needed a rocker. I bought my son a rocker from eBay which ended up costing me nothing, courtesy of the mini disc player! Ever since, I always scrounge around the house for things not being used...maybe gifts given that weren't appropriate but couldn't be returned etc. When we really need something but don't have the money for it, I think about what I can sell to raise the money. Works a treat!
Contributed by Hannah, Yallambie
Contributed by Hannah, Yallambie
Debt Free in 2009 the Cheapskates Way
I have been a cheapskate for a couple of years now. All my utility bills have been reduced by turning off lights, TV's at the power point etc and by comparing my bills at uswitch.com.au. I have saved approximately $560 a year just by switching to the cheapest supplier in my area. I have compared and switched my phone, car and house insurance. I only grocery shop once a week and use a shopping list so I don't buy things I don't need. I even grow my own veggies! And yet when I do my monthly budget we are only just making ends meet. Obviously my husband and I need to earn more! As we have three young kids, I still want to be at home with them during the day, so I have decided to register with findababysitter.com.au and do some babysitting in the evening. A friend of mine used this service and now pays her babysitter $18 an hour. Hopefully, this will help us reach our goal of being debt free by the end of 2009. And hopefully I will win the Top Tip competition so I don't have to buy a membership to cheapskates.com.au (told you I am a cheapskate!).
Contributed by Caroline, Mt. Eliza
Contributed by Caroline, Mt. Eliza
Pay Less Tax, Keep More Money in Your Own Pocket (My Yearly Saving = $6,864)
Approximate $ Savings: Over $6,000 per Year
I save $264 in tax each payday...by paying less tax to the ATO than the tax table requires and I put the money in my pocket instead! For example, with a gross pay of $2,200 per fortnight my employer must withhold $462 in tax, but instead they now withhold only $198...a saving of $264/ftn. This is possible (and totally legal) by using the "PAYG Income Tax Withholding Variation" form from the ATO (formally known as a 221D form). It basically means that instead of waiting until the end of the tax year to get your refund, you can receive a portion of the 'refund' each payday. Why give your hard earned money to the government to use or invest for a whole year when you could be using/saving the money yourself. There are quite a number of reasons for varying the amount of tax you pay, but most often it is if you own property or other negatively geared investments. Visit www.ato.gov.au and your accountant for more details.
Contributed by Karen, Launceston
I save $264 in tax each payday...by paying less tax to the ATO than the tax table requires and I put the money in my pocket instead! For example, with a gross pay of $2,200 per fortnight my employer must withhold $462 in tax, but instead they now withhold only $198...a saving of $264/ftn. This is possible (and totally legal) by using the "PAYG Income Tax Withholding Variation" form from the ATO (formally known as a 221D form). It basically means that instead of waiting until the end of the tax year to get your refund, you can receive a portion of the 'refund' each payday. Why give your hard earned money to the government to use or invest for a whole year when you could be using/saving the money yourself. There are quite a number of reasons for varying the amount of tax you pay, but most often it is if you own property or other negatively geared investments. Visit www.ato.gov.au and your accountant for more details.
Contributed by Karen, Launceston
Canned Savings
Approximate $ Savings: $15
Our family walk our dog on a daily basis and my daughter takes a plastic bag and collects aluminium cans on the walk. The amount she collects is sometimes quite alarming. When there she has about 3 garbage bags full, I cash the cans in for her. This gives her a little pocket money (approximately $15 -$20). So this little activity provides our family with the following benefits: - exercise and enjoy our dog, -family time to talk on the walk, collecting cans and recycling and pocket money.
Contributed by Carym, Greenfield Park
Our family walk our dog on a daily basis and my daughter takes a plastic bag and collects aluminium cans on the walk. The amount she collects is sometimes quite alarming. When there she has about 3 garbage bags full, I cash the cans in for her. This gives her a little pocket money (approximately $15 -$20). So this little activity provides our family with the following benefits: - exercise and enjoy our dog, -family time to talk on the walk, collecting cans and recycling and pocket money.
Contributed by Carym, Greenfield Park
De-clutter and Cash Up!
Why have something sitting around for the 'rainy day' that may never arrive or keep things because they 'might be useful one day'? Why not de-clutter your life and make some cash? Go through all of your possessions and make a list of everything that you either no longer like or have not used in the last two years. Work through the list selling all of those things. Use garage sales and markets to liquidate small items and ebay or the trading post for larger or more expensive goods. After everything is sold you will have enough money to buy something that you like or need right now. My husband and I got rid of about a cubic metre of junk (I can't even recall what those items were!) and bought ourselves a killer barbeque that we use every day in summer.
Contributed by Helen, Blackwood
Contributed by Helen, Blackwood
Taking the Mystery out of Shopping
Approximate $ Savings: $30 per shop
I have recently signed up to a few mystery shopper companies on the Internet. They send you emails when a store comes up in your area that needs to be assessed, you can choose to do the mystery shop if it is something that interests you. They pay around $30 for each job you complete. I have shopped at pizza shops, KFC, fruit and veggie shops and game shops and all you have to do is outline how good the service was, if it is clean and simple things like that. It doesn't take much time , you get reimbursed for any purchases therefore getting things free and you get to have your say on customer service. Some shops you don't have to buy anything you just have to ask about a product. You can find different mystery shopping companies by doing a Google search and if you sign up to a few you are sure to be offered some jobs.
Contributed by Carly, Nambour
I have recently signed up to a few mystery shopper companies on the Internet. They send you emails when a store comes up in your area that needs to be assessed, you can choose to do the mystery shop if it is something that interests you. They pay around $30 for each job you complete. I have shopped at pizza shops, KFC, fruit and veggie shops and game shops and all you have to do is outline how good the service was, if it is clean and simple things like that. It doesn't take much time , you get reimbursed for any purchases therefore getting things free and you get to have your say on customer service. Some shops you don't have to buy anything you just have to ask about a product. You can find different mystery shopping companies by doing a Google search and if you sign up to a few you are sure to be offered some jobs.
Contributed by Carly, Nambour
Rent Your Stuff
There's a great site I've found on the net - www.rentoid.com - that helps you to make money off of the items that you have around the house, but don't want to sell. All you do is list your lawn mower, for instance and people who need a lawn mower for a weekend can contact you and rent it off of you! It's also handy if you need to rent things like renovation equipment without the outlay of buying it!!
Contributed by Kathryn, Belmont
Contributed by Kathryn, Belmont
Saving and Making Money
Approximate $ Savings: $90 - $100 per week
As a stay at home mum and carer to my husband I needed ways to save money and find a few extra $ each week. Firstly as a family we started delivering catalogues and newspapers in our local area, I figured I was out walking everyday anyway and why not get paid for it! The kids help me out in the evenings and I am bringing in about $70 a week and getting more quality time with the kids. Next I needed to cut our phone bill. I started by putting a lock on outgoing mobile calls (teenage kids) and I have quartered our monthly bill already. Then I discovered several websites offering free SMS text messages, just for looking at looking at some emails. These are free to sign up and are saving me heaps texting the kids, try smspup.com.au. I am obsessed with the Internet and now get all my recipes, money saving tips and handy hints online and have started making my own cleaning products and laundry liquid, all while saving money and the environment, having fun with my new budget ways and getting fit in the process, its a win-win situation.
Contributed by Michelle, Banks
As a stay at home mum and carer to my husband I needed ways to save money and find a few extra $ each week. Firstly as a family we started delivering catalogues and newspapers in our local area, I figured I was out walking everyday anyway and why not get paid for it! The kids help me out in the evenings and I am bringing in about $70 a week and getting more quality time with the kids. Next I needed to cut our phone bill. I started by putting a lock on outgoing mobile calls (teenage kids) and I have quartered our monthly bill already. Then I discovered several websites offering free SMS text messages, just for looking at looking at some emails. These are free to sign up and are saving me heaps texting the kids, try smspup.com.au. I am obsessed with the Internet and now get all my recipes, money saving tips and handy hints online and have started making my own cleaning products and laundry liquid, all while saving money and the environment, having fun with my new budget ways and getting fit in the process, its a win-win situation.
Contributed by Michelle, Banks
Party Plan Plastic Earns Good Money
My suggestion is that you look into becoming a Tupperware demonstrator. It is a no cash outlay start-up and once you get started the financial rewards are fantastic - approximately $120 or often a lot more per party. I have been a demonstrator for almost 4 years now and it has certainly been of great financial benefit to me and my family. You can set the hours you work, how often you work etc etc. Best of all there are lots of extra rewards offered by Tupperware as well! Give it a go, you won't regret it :-)
Contributed by Mandy, Rockhampton
Contributed by Mandy, Rockhampton
Start Your Own Business
My husband and I began our own cleaning business. If your health is good and you have a vehicle then you are set. We put leaflets out in letter boxes and advertised on Internet sites with free adds. Anyone can do it as the costs are low for setting up a cleaning business. If you use your own name as your business name then there is no cost and registering for an ABN is free also. If you use the customer's cleaning gear then the only cost is fuel. Hope this advice will be of help to you.
Contributed by Hannah, Springfield Lakes
Contributed by Hannah, Springfield Lakes
Work Outside the Home
My suggestions are for work out of the home, but I personally know of people from 50 - 80 years of age enjoying these casual jobs. Your local university may need invigilators for exams. This is usually at end of semester, and sometimes mid-semester for a couple of weeks. If you like kids, you could also try for a nanny role. This could be an all-day job for small kids or during school holidays, after school running kids around to after-school activities or maybe working with the local resorts for guests. Try some of the local nanny agencies. Good luck.
Contributed by Kylie, The Gap
Contributed by Kylie, The Gap
Selling on eBay Makes a Good Living
Rhonda, if you have a reasonable computer set up you could consider selling stuff on ebay. After you've sold what you don't want around your home you could progress to purchasing good bargains on in-demand things on sale in dept. stores to resell on ebay e.g. to customers in rural or outer suburban areas or those who can't get to shops much.
Contributed by Emma, Blackburn
Contributed by Emma, Blackburn
Google for Work Ideas
If you put "make money at home" in any search engine lots of good ideas come up. I have a friend who spends a lot longer on the computer than I can and earns actual cash for doing surveys on-line. So far I've only managed a $20 Dymocks voucher but after an hour or so my eyes have had it - apart from my life intervening. I volunteer time at a Vinnies Op-shop. I've just thought, if Rhonda has a spare room or two she could have lodgers. Now that my son's working his board helps out.
Contributed by Julie, East Victoria Park
Contributed by Julie, East Victoria Park
Tupperware If You Want to Work From Home
I am a Tupperware manager and we are always looking for new people! You work from home, the hours you want, and no experience is required! Age is no barrier - in fact the more knowledge you have, the better! There are no start up costs involved either - just your time to learn the ropes!
Contributed by Eliza, East Ipswich
Contributed by Eliza, East Ipswich
Regular Catalogue Deliveries Pay with Bonus Free Exercise
Contact a brochure/catalogue letterbox distributor in local area to become a regular deliverer. Earn a little income but keep fit at the same time by walking your delivery route over a 2-3 day delivery deadline.
Contributed by Joanne, Berowra
Contributed by Joanne, Berowra
Lots of Options for Extra Cash
Try delivering pamphlets- this doesn't pay lots but they always need people. The lady who delivers in my area uses an old pram to carry the brochures. Or what about selling something like Avon. Do you garden? Sell pot plants or excess fruit and vegies.
Contributed by Michele, Mackay
Contributed by Michele, Mackay