A lot has been said about how you can cut costs and reduce your living expenses when living on a shoestring budget.
However, sometimes, cutting down costs might not be the answer. Rather, giving your income a boost might be the only way out.
Increasing your income can reduce financial anxiety, help you reach savings goals and improve your overall quality of life.
Below are 7 ways you can increase your income:
Ask To Work From Home
Commuting to work is not only tiring but very expensive. An easy way you can increase how much you have left with every month is by asking to work remote.
Save on commuting by asking your boss if you can work remotely, either full time or a few days per week. Skype, Slack and other networking apps make remote collaboration easier than ever.
Ask for a Raise
Sometimes the only thing between you and your dream salary is just you.
Talk to your boss. Ask whether you can get a raise and if not, what you need to do so that it happens.
Research current salaries of people in your field using information from the Bureau of Labor Statistics or other reputable websites. If you feel it’s the right time to ask for a raise, go for it.
Look for a New Job
Sometimes you might be in a dead-end job and no matter how much you fight for a better salary, you’ll never get one.
You may need to start looking for new opportunities if you feel like your current job leaves little room for advancement.
Create passive income
Passive income is how to earn extra income continuously. The best thing about passive income is after the initial set-up or work you continue to earn from it.
For example, investing in the stock market, earning royalties from a published book, and renting properties are all ways to make passive income.
Improve Your Productivity
You get paid for your value, not time. A simple way you can boost your earnings is by increasing how much work you can do and still maintaining the quality of your work.
Turn trash into cash
Sell what you don’t need. Most houses are filled with clutter that can be turned into quick cash.
Decluttering can make you money while also helping you clean up around your house and get rid of things you don’t need or want anymore. Try selling more valuable items online through Facebook marketplace and Jiji.
And once you successfully sell your stuff, you can sell for your neighbours and friends and get a commission.