How a second income can help you reduce debt

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    It’s official; Australia is one of the world’s most expensive places to live.

    A report into the cost of living by Deutsche Bank rated Australia is the most expensive country to live in, a whopping 12% higher than the cost of living in the United States.

    The struggle in Australia is well and truly real, with millennials deciding that a weekend brunch consisting of smashed avocado is a superior lifestyle choice compared to saving towards owning a house.

    How bad has the cost of living become?

    A recent article in WA Today stated that the average price for chips in Perth has peaked at $11.02. Yes, that’s right, $11 for everyone’s favourite snack!

    The pain doesn’t end with unaffordable pub food; Australian house prices continue to be amongst the most expensive in the world, and Sydney is leading the charge, with property prices in the harbour city showing no signs of slowing down in 2017.

    The most worrying sign for Aussies is that the country holds the unwanted record of having the highest amount of personal debt in the world. A recent article in Finder stated that “many Australians have begun to live beyond their means.”

    Canstar reported that the “average Australian household debt is four times what it was in 1988, rising from $60,000 to $245,000 after inflation”.

    What can be done to reverse the trend of increasing debt?

    A growing number of professionals are looking for a second income to ease the financial pain. The gig economy is providing innovative ways for people to earn extra money, with on-demand jobs available through mobile applications.

    Rideshare leader Uber provides a flexible platform for Aussies to start earning a secondary income working around their primary profession. An article in Domain outlined how a 28-year-old investor used Uber to help him buy six properties.

    How can you become an Uber driver and start earning additional income?

    Splend is an Australian company that provides Members with brand new cars, coaching and mentoring so that they have everything they need to successfully work in the rideshare industry.

    Each Splend Member has a dedicated Member Success Representative (MSR) to guide you through the process of becoming an Uber driver.

    To get started, call one of Splend’s Member Success Representatives on 1800 775 363.