In what ways can you fight inflation?

Australia is battling high inflation. The price of almost all commodities, including petrol and vegetables, are skyrocketing. One of the main reasons behind high inflation is the supply chain woes, the Russia-Ukraine conflict and sanctions put on Australian goods by China. As a result of rising prices, the RBA has increased the cash rate and might increase it further in upcoming months.

Owing to the current inflation scenario and the rise in mortgage rates, the common citizen of Australia is being crushed with lesser real disposable income left in hand. So, to combat the present challenging scenario, several Aussies are trying different methods to make some extra dollars to meet their daily household expenses.

Some of these ways are clever- thus, Aussies who haven’t yet embarked on the journey to make extra income apart from their permanent wages can learn a lot from these methods. Let's glance at some of the cleverest ways of earning extra that Aussies have adapted to fight inflation.

Selling clothes on social media platforms

One of the most interesting ways, and one that does not involve a significant financial investment, is through selling clothes on social media platforms. These clothes can be the ones that you are not using anymore. Since they are just lying in your cupboard, why not make some extra money out of them? Additionally, many Aussies are also doing thrift business in which they buy cheaper clothes and sell them at higher prices to earn a profit margin.

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Aluminium cans and bottles

The next way is to collect important waste, which is not actually waste. When bottles and aluminium cans are sold back, they can provide you with a good amount of money. Thus, in times of financial crisis, being economically vigilant is important. Therefore, you can look around the things lying around and see what can help you earn an extra dollar.

Renting rooms on Airbnb

The next clever way of earning more money is by renting out rooms on Airbnb. If you have a house with some of the rooms lying vacant, then you can rent them out on Airbnb. What’s a good room lying empty well for when you can make some money? All you need to do is see that the room and its utilities are in good condition and then register on Airbnb.

Lastly and most importantly, be economically vigilant. See in what ways can you save and in what ways can you spend less. These times are economically challenging for Aussies so the more you spend vigilantly, the more you can save and secure your future.