Whether you need to pay off debt or increase your savings, there are several ways to increase your income this year and meet your financial goals. Maybe you’re living paycheck-to-paycheck and barely earn enough to cover your current monthly expenses. Have no fear. I will offer practical ways to increase your income.
1. Turn Your Hobby into Income
What do you like to do in your free time? Write short stories? Clean your house? Bake cupcakes? If you enjoy these activities, why not make some cash on the side? This is one of the easiest ways to increase your income. Market your services to coworkers, friends and others. Print and pass out fliers/business cards, or run a small ad in the local newspaper.
2. Sell Products on EBay
Think of items in your house that you no longer need or use. If upgrading your electronics or furniture, you can make extra cash on the side by selling your used items on eBay. And if this is successful, you can visit yard sales or flea markets and look for items to resell. All it takes is a computer and Internet to bring in additional income.
3. Be a Consultant
If there is a subject or area of business that you know well, be a consultant and offer useful information to others. Maybe you already run a successful business. If so, you can provide start-up advice to entrepreneurs on the side and boost your income. Then again, maybe you’re a teacher. In this case, consider running a tutoring service from your home.
4. Work Extra Shifts
If you have extra time and want to pick up additional shifts in the evenings or weekends, talk to your boss. With your willingness to work longer hours, your boss doesn’t have to hire additional staff. You can earn extra hours and income each week. This can put you a step closer to your savings goals.
5. Start a Nighttime Daycare
People who work the night shift cannot always locate suitable nighttime childcare. Offer nighttime care and you’ll bring in extra income. And because you’re caring for children at night, you can provide this service in addition to your other employment. To ensure you get enough rest at night, you might avoid caring for infants and stick with older children.
6. Learn a New Language
If you’re somewhat fluent in a language, attend a class or workshop to brush up on your skills. This is especially useful if your employer has a need for bilingual staff members. With this skill under your belt, it can open the door to better employment opportunities within your company. In the end, this bonus skill can help you command a higher salary.
7. Ask for a Pay Raise
Most people hesitate to ask their boss for additional money. But if you aren’t being paid what you’re worth, it doesn’t hurt to discuss a raise. Be prepared to present your case. You might highlight your different roles or assignments with the company, your experience and education. You can also provide information regarding average salaries for people at your level.
The average amount of consumer debt per household has increased in recent years, and in this present economy, it’s become harder to earn a buck. But despite the challenges, you can increase your income and get your finances on track. What steps have you taken to increase your income?