Easy Star Bits in Sling Pod Galaxy
There is a comet where there are a lot of Star Bits. Grab onto the nearest grey tree, and collect all the Star Bits. You will get an extra life because of the number of Star Bits. Once you have collected all of the Star Bits, intentionally fall into the black hole. You will not lose a life because of the previously awarded extra life. After you have jumped into the black hole, you will respawn at the last grey tree you were on. Collect all the Star Bit again, and jump off. Continue doing this to get as many Star Bits as desired. Each time will result in about fifty Star Bits.
Easy lives in Space Junk Galaxy
Select the Tarantox's Tangled Web Star. Play through the level until you get to the glass-covered planet. If you have not already done so, feed the Hungry Luma fifty Star Bits. Use the Launch Star it creates to go to the Yoshi head planet. Then, without killing them, collect as many Goombas as possible, and get them to follow you. You will need at least eight of them. Jump and keep bouncing on them without hitting the ground. A number should appear that counts up to "7". On the eighth Goomba, you will start getting extra lives for every Goomba you bounce on. It is possible to get more than ten extra lives per attempt.