Jumping
When jumping a long distance, maintain your speed by pressing the "O" button instead of "X" to grab. When you grab onto a rail using the "O" button, your character will quickly vault the obstacle and carry on running at the same speed as when you made the jump.
Money
To get free money, select the "Extras" option from the main menu. Scroll down to "Cheats" and enter "getmoney."
Clothing
Equipping characters with the proper clothing can increase your speed and health. After completing stages, return to the hangout and test out newly unlocked clothing items to improve your character's performance.
Break Fall
Practice using the "square" button to break your fall when you land. Rolling, by pressing the button at the last moment, will allow your character to maintain his speed and avoid losing health when landing on a hard surface.