Most people would love the chance to earn some extra cash. Whether you’ve got a specific savings goal you’re trying to hit, are hoping to get together enough money for a house deposit, or simply want a more comfortable life, boosting your income is a common goal. It’s also a more prudent option than turning to loans or credit cards, which can leave you in a spiral of debt.
So, how can you make a little more money in a sustainable way? Here are four ideas to get you started.
1. Ask For A Raise
While the thought of asking your boss for a pay rise might fill you with dread, if you haven’t had one for a long time then it’s an option worth considering. Firstly, do some background research to find out what sort of salary you should be receiving and compare it to what you are currently on. You should also make sure that you can show you are consistently producing work of a high quality, or going above and beyond your job description. This will put you in a strong position to negotiate a raise if you feel you’re not being fairly compensated for your work.
2. Pick Up Extra Shifts
If you have some free time on your hands and there’s extra work going in your company, you could always try to pick up some extra shifts or overtime jobs. The availability of this will depend on your industry, and if it’s not appropriate for your employer then you could always look for work externally. For example, if you’re a qualified pharmacist then you can find extra hours in your area without having to make a long-term commitment by working as a locum dispenser. These days online systems enable you to instantly book shifts with no hassle.
3. Start Your Own Side Hustle
For those who have an entrepreneurial mindset, setting up your own side business can be a fantastic way to earn some extra money. The ideas for this are almost endless, with opportunities to suit all different personalities and skill sets. For instance, if you’re a creative type you might like to make and sell artwork or jewellery. Alternatively, you could offer IT services if you’re good with computers, personal training if you’re into health and fitness, or teach English to non-native speakers via Skype if you’re good at languages. Remember to consult an accountant regarding the tax implications of this option.
4. Apply For Promotions
In some cases where it’s not possible to get a pay rise and you feel as though you’re ready for a new challenge, applying for promotions might be your best option. This could be either within your current company or at a new one, depending on your specific goals and passions. Peruse the job listings in your industry to get an idea of what’s out there, and polish your CV so it’s up to date and as impressive as possible. Networking can also be hugely helpful when job hunting, so consider attending conferences and workshops to get your name out there, and find out about positions that are not being publicly advertised.
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