As another year rolls in, people start to give serious thought to what they want to change in their lives. Many resolutions focus around finances and wanting to improve them. One way to do this is to earn extra money - money which could be used to pay down debt or put into savings.
If you’re planning on making some extra money this year to help your financial situation, there are a few precautions you need to be mindful of so that your hard work pays off. To protect yourself, look to avoid these 4 mistakes when trying to earn some extra cash:
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
The Government’s MoneySmart website shows you how small amount loans work and suggests other options that may help you. https://www.moneysmart.gov.au/
This statement is an Australian Government requirement under the
National Consumer Credit Protection Act 2009.