7 Ways to Increase Your Current Income

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finance

Wouldn’t it be nice to have a little more money coming in this month? No doubt, if you knew how to increase your current income you wouldn’t give up the opportunity to do so.

This article will provide seven ways you can see a little extra green coming your way this month.

1. Negotiate Your Pay

If you’ve been at your current place of employment for some time and you are a valuable asset to the team, the first place you should look to increase your income is right there.

Companies generally appreciate employees that want to advance and show initiative. Show that you are a reliable asset and worth the extra money and you shouldn’t have any problems getting your raise approved. 

It may simply take asking for a raise from your boss but some professions require employment terms to be written in an employment contract.

Learn more about the legal aspects of this process here.  

2. Learn More

Sometimes all it takes to earn yourself a salary hike is one certain certificate. Which certificate will improve your money situation depends on your industry but with online education, it’s easier than ever to do.

Anytime that you accumulate more knowledge and skills, you are worth more to an employer. So start collecting useful certificates or skills that you can use as leverage to earn more money.

With online courses so prevalent, you have many ways to do this. Check out Coursera, Udemy, and Skillshare to see if you can find a course that’s perfect for you. 

3. Sell Something

If you need extra money in a hurry, your best bet is to sell anything you own that you don’t use.

This can be a big item such as a car or boat, or as small of an item as a piece of gold jewelry or used clothing.

You can even sell multiple items pretty quickly by posting them on Facebook Marketplace or using an app like Mercari or Poshmark

4. Start a Passive Income Stream

One of the best ways to increase your income on a consistent basis is passive income.

This type of income requires a big start up but minimal maintenance once the initial work is complete. Examples include blogs, Youtube Channels and other online marketing.

For more ideas on how to create your own passive income opportunity, read Indeed’s article on the subject. 

5. Get a Side Gig

Side gigs come in all shapes and sizes. Some only require a few hours per week while others are like a second job. 

You can tailor your side gig to fit your needs and schedule. 

Many people are taking advantage of flexible jobs that allow you to choose your own schedule and weekly hours. The job scene is definitely changing to adapt to the needs of the workforce.

You can become a rideshare driver, a package delivery driver, or a food delivery driver and earn some extra dough with your car.

You can also do some freelance work on the side as a social media manager, digital artist, or personal assistant without leaving your home at all.

You can even take advantage of “microjobs” from websites like Fiverr and Swagbucks. These mini tasks can add up over time and help out with bills without taking up a big chunk of your time.

6. Rent Your Goods

If you can’t sell your stuff, consider renting them out. You may have items that others would want to use but don’t have the ability or the space to own them outright.

If you live in an area with a bit of tourism, you can rent your bike, motorcycle, jet ski or other type of small vehicle for a day. 

You can also rent sports equipment like a surfboard or sand volleyball net and ball if you live near the beach.

You can even rent out a room in your home. There is no limit to the things you can rent but you need to be willing to part with your items for days at a time. 

7. Share Your Talents

If you have a special talent that you are willing to share with the world, this can become a source of income for you. 

Whether you have video tutorials on Youtube or create your own webinar or online course, you can make money from people who want to improve their skills in the talent that you already possess.

You can even offer one-on-one lessons. Learn more about how to leverage your talents to increase your income here


Conclusion

You may not be able to use all seven tips here to increase your wealth but surely you will find one that can help you earn more money.

Anyone with enough drive and determination can use these strategies to improve their financial situation, even if just a little bit.