Money

What Is Your Spare Time Worth?

It’s something we’ve all heard before – time is money. But have you ever really stopped to think what your spare time could be worth?

With declining rates of full time employment, it seems more of us are asking ourselves that question. “More Australians are finding themselves in part time work, and are using that flexibility to have multiple jobs or to fit around other enterprises”, comments Martin Dineen, the Director and founder of leading office support recruitment consultancy, MJD Executive.

Part of this trend is the emerging sharing economy, which is allowing people to become micro entrepreneurs. Australians are now able to make a lucrative side income out of their spare time and assets. That time you’re spending binge watching Sherlock? You could be using it to make some sweet coin.

If you’re looking for ways to choose your own hours and even pay, we have some top ways you can do just that, to make the most of your time and money.

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Spend it with some furry friends

How does hanging out with some cute cats or walking an adorable dog, AND getting paid for it sound? Like a pretty great way to spend an afternoon or evening. MadPaws is an online portal that connects pet owners with trusted pet sitters to help out with tasks such as looking after animals while their owners are away or at work.

Spending on average 3 days a week pet sitting, you could earn around $160, not to mention bonus puppy kisses.

Make some space

If you were looking for an excuse to clean out your garage, spare room or attic but were really lacking the motivation (because it’s not exactly the most inspiring way to spend a weekend) consider the fact that a few hours of your time could make you some money all year long.

Rent out your spare space in your home via Spacer.com.au to people looking for extra storage in their local area. A mere few hours of work to clear out that space could earn you an average of $250 to $350 per month in passive income off your garage alone.

Hit the road

If you’ve got a set of wheels, the possibilities are vast – and you’re not just limited to driving for Uber.

You could get behind the wheel and help get stuff where it needs to go with on demand courier service Zoom2U. Drivers can make from $200 to $2,000 a week.

If you would prefer to kick back and let your car do the work for you, Car Next Door lets you rent out your car by the hour or day at times when you’re not using it. Lending your car to others several times a month can earn you on average between $300 to $400 a month.

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Sharing is caring

If you’ve got a shed full of tools, golf clubs or electronics that you’re presumably not using all at once, you can actually help out your neighbours by renting them out! OpenShed lets you list your gear online for others to browse to help them get jobs done around their house. Renting out around 6 items a month could make you over $3000 a year for minimum effort.

If you love cooking…

You can feed hungry locals through FoodByUs. As Australians become more dynamic with their taste buds, so has the demand to try out food from talented home cooks. You can choose your own hours, and charge what you think your food is worth. Simply deliver the food or let locals pick their dinner up. The average FoodByUs cook earns around $50 an hour.

 

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