Boosting income

I'm all about selling out! Get the best bang for buck JOB as possible!
The passion (pop) will go into property and business!

 

@bob shovel I have the same mindset with regards to this as you. The passion, energy and real focus is the property business, and the 'other stuff' is just the heavy lifting behind the scenes. Heavy lifting is rarely enjoyed.

 

I don't think a piece of paper is necessary, with a bit of luck you can find unskilled work that pays upwards of $30+/hr.

I'm doing ticket ushering at a theatre as a side job, pay is mid $30s and half the time you're just watching the performance. Most of the shifts are 6pm onwards so you could definitely do this alongside a 9-5 job.

 

Nice one @Daniel007! I assume this isn't a hoyts!

 

Nope, just a local arts theatre

 

I've tried for a long time to make this happen. Alas, I have many interests but no passion as such (esp of a income generating kind) other than perhaps playing soccer lol.

 

There you go then ! You could coach childrens' soccer on Saturday mornings !

 

The banks don't look at what you do, they only care about tax returns. Problem with any new business is that most lenders want at least 2 years worth of financials. Most businesses don't make a whole lot in the first two years so it doesn't really help.

 

@albanga - didn't you hear? The mining boom is over. There are no more "fly-in, f@#$-around" jobs available.

Oh! You meant FIFA, the tv game

 

This is one way of selling out - check out the latest from UBER but does UBER want to be associated with this type of advertising if the taxi industry can't?

 

Haha!

"While Christine's husband might have been a little disappointed to learn this news, the driver wasn't a stripper killing time between shifts on the pole, but an innovative entrepeneur"

 

Highest Overall Earnings - eSports Player Rankings :: e-Sports Earnings

Go play Dota 2 as Fifa doesn't pay to well..

49. FIFA 07 $220,555.19 31 Players 12 Tournaments

Top 3
#1
Dota 2
$56,669,019.03
1458 Players
568 Tournaments

#2
League of Legends
$26,752,984.00
3861 Players
1665 Tournaments

#3
StarCraft II
$18,344,015.70
1515 Players
3445 Tournaments

Top 10 players

1. UNiVeRsE Saahil Arora $2,085,114.64 Dota 2 | $2,085,114.64 100.00%
2. ppd Peter Dager $2,075,914.22 Dota 2 | $2,092,025.96 99.23%
3. Aui_2000 Kurtis Ling $1,883,464.84 Dota 2 | $1,883,464.84 100.00%
4. Fear Clinton Loomis $1,855,703.99 Dota 2 | $1,857,059.84 99.93%
5. SumaiL Sumail Hassan $1,761,853.34 Dota 2 | $1,761,853.34 100.00%
6. xiao8 Zhang, Ning $1,654,762.10 Dota 2 | $1,662,202.73 99.55%
7. Hao Chen, Zhihao $1,568,348.94 Dota 2 | $1,574,790.03 99.59%
8. Banana Jiao, Wang $1,205,212.32 Dota 2 | $1,217,250.16 99.01%
9. Mu Zhang, Pan $1,201,282.63 Dota 2 | $1,205,654.91 99.64%
10. SanSheng Wang, Zhaohui $1,196,438.83 Dota 2 | $1,205,274.33 99.27%

 

haha wonder how the banks would assess that income. Do you get 90% no LMI for being an e-athlete i wonder?
Who am i kidding though, making that sort of money, safe to say you don't need the banks.

 

@Noobert

Great way of thinking. Boosting income should be (or become) a part of your investing strategy. As always there are 'many ways to skin a cat'.

Take both a short and long term view.


Short - look at working additional overtime hours (if your employer offers this). Or take on a second 'unqualified job'. For me, I started pulling beers at the local bar. This actually succeeded better than I imagined, as I could get to hang out with most of my mates on fri/saturday nights, and be earning money rather than spending it. Back-in-my-day it was worth $10-12/hr not $20-30 though. I would often get shifts straight after work and would go from the office, directly to the bar and do 4-5hours. They would give me a break and I talked the cook into giving me some dinner. I would still be home by 11-12 so it wasnt too late to get a good nigh sleep. Weekends I could do up to about 25hrs.

All in all, I was pulling in more than my living costs and still had my 9-5.

The argument with 'you lose the income to tax' is misleading at best. Or completely false. As mentioned elsewhere you cant double dip the tax free threshold. In addition, your second employer will withhold the highest income bracket (47%) so yeah, it looks like you are getting only 50% of your salary. At the end of the year when you do your tax this is returned to you. However, you can submit a tax form and have the correct tax taken initially. Though I never did. I liked the end of year 'bonus'.


Long term - look at where the real money is being made. Yes - its possible to invest on low income (and is admirable and should be encouraged), but it is much easier to invest on a high(er) income.

Find where you can gain additional qualifications or additional qualifications to seriously move 'up the chain' or 'onto a different ladder' - where there is more money (and hopefully less work) - without deteriorating the enjoyment of your work/lifestyle. You will often find across industries, many job roles/functions are the same or similar.

Many employers will not only help you pay for additional and/or post grad courses, but will also allow you to study during working hours (within reasonable limits). This means you can actually complete these courses without any additional cost or time on your behalf.


Im not an overly intelligent. Im actually farmer 'trade' (not that intelligence and farming have any correlation). However, by studying and learning I have gained a reasonable understanding of many business functions (law, HR, tax, finance, contracts, management etc). Im not a 'specialist' in many of these areas, but can at least hold my own in most situations and defer to professional guidance on more specific/serious matters.

There is often a lot of focus on reducing your expenditure, however, once you have got this under control there is a much greater time/cost-benifit in increasing your income. Cutting costs is self limiting (there is always some expenditure to incur). Increasing income is exponential.

Blacky

 

Banks would want 2 years of earning history, by that time if you were number 1 you could of earned 4M lol.

 

There are plenty of people earning their main or a supplementary income on airtasker . Most would be avoiding the taxman as well methinks.