It's Government Budget week, and our learned politicians in Wellington have again being preaching the virtues of surpluses, the vices of debt and the need to live within your means.
Though the amounts are obviously much smaller when it comes to household budgets, the principles are nevertheless the same: spend less than you earn.
Unlike the Government, increasing family earnings is not as easy as increasing taxes as most of us do not have a captive population that can be squeezed a little harder as the need for more money arises! We have to work more hours or work smarter.
Here are three big oily-rag ideas for how to earn more.
1. Make better use of your "downtime"
According to Statistics NZ, the average New Zealander watches about 14 hours of television a week. That's equivalent to about two days of work, or just over $190 a week for a person being paid the minimum wage. How about using that downtime for casual work or on money-saving activities such as growing your own vegetables and selling or swapping the surplus? The benefits should be multiplied by two in a two-person household.
2. Clean out the garage
Although the amount of money tied up in household items may not appear very great, most families accumulate bits and pieces that are no longer of use. Oily raggers are known to be hoarders, so they usually have lots of stuff that can be turned into cash. Surplus assets typically include a second car, sports gear, boats, books, caravans, clothing, old furniture and so on. When sold, these bits and pieces can add up to serious money that could be used to make a dent in the family's mortgage, or could be converted into something else that could bring pleasure.
3. Never go past something that's free
Everything is worth something to someone. One oily ragger recalls being offered a piece of old machinery that was cluttering up shed space. The oily ragger jumped at the chance. He sold the workable parts through an online auction site and to a scrap dealer for a tidy sum.
These three ideas are just the tip of the proverbial iceberg when it comes to money-making ideas. Here are a few others to show just how creative the oily rag community is:
Lots of businesses now have internet-based office systems, which means admin work can be done from anywhere, including your home. This is ideal for home-based parents with office skills who want to earn a few extra dollars.
If you have spare space in the garage, rent it out as storage. Offer the space, for a small fee, to friends or family members heading off on their OE.
For those with spare land, grow Christmas trees. This cash crop will be ready at exactly the time when you are likely to need a little extra.
Become a courier. If you routinely travel long distances, offer to be a document or parcel courier for businesses in your area. The business gets personal service at a super-cheap rate and you get someone else to pay for your petrol.
Frank and Muriel Newman are the authors of Living Off the Smell of an Oily Rag in NZ. Readers can submit their oily rag tips at www.oilyrag.co.nz