I set a 10 day fast money challenge with the aim to make as much money as possible through things like unclaimed money, new account bonuses, online surveys, selling stuff, gift cards etc. I didn’t go as hard as I planned nor did I try all I could have to make extra money.
Here’s how I went:
1.) Sell used items
I put some things on eBay and made $127 plus I put some jewellery on consignment at a local store. This has not sold yet though so I am not including it, it’s likely to be a few thousand dollars though. I didn’t have a whole lot to sell so $127 was good. Right at the end of the challenge I came across a $2 sale at a local op shop and they had dresses in the rack that I know go for $40 to $110 on eBay so I bought some to resell and have them listed. I’m not including those amounts in my total here, but it is a great way to keep the side hustle continuing past the original 10 day challenge.
2.) Search for unclaimed money
I finalised the paperwork for a claim worth $205 plus found out about another claim which will be worth thousands but takes at least 6 months to process. I have started the paperwork on it, but it is quite draining so have scheduled it in for next week when I have time and am not busy.
Check each state’s revenue office for unclaimed money. I originally used MoneySmart which has an option that is meant to check all of Australia, however it showed nothing. When I went to each individual state, my $205 of unclaimed money came up and I was able to confirm what it was from plus lodge the paper work.
On top of general unclaimed money, do a search for lost super. Think about it, how many jobs have you had in your life and how many times have you changed superannuation accounts, not consolidated them or signed up for a new one at your new work? If you have lots of super accounts then you are probably paying multiple admin fees and insurance costs unnecessarily which are eroding your super balance. Rate Detective has an option where they find and consolidate all your super plus invest it according to your preferences.
Also, Rate Detective have other services such as life or income protection insurances, car or home and contents insurance as well as mortgages. Doing a comparison can help you save more money. One month, I focused on a different area of my budget each day, compared providers and how I was spending my money. I saved thousands that month by comparing and switching. On top of checking for unclaimed money, compare all the services you currently use and see if you can save yourself some money.
At this time, I have $904 in unclaimed super I need to process the paperwork for. Not bad for a quick check, not good that I have had it sitting there for so long though!
3.) Gift cards
I didn’t end up using the gift cards we have nor did I sell them. I checked the amounts I have in my Vip clubs, how much I have earned with various points accruing and it totals $104.
So at the end of the 10 days, the total I have from these things with minimal effort is $1,008 if you include the gift cards. Not too bad. I could do better next time though!
Have you ever done a fast money challenge? What is the most you have made in a short period?