Making more money would definitely make life a lot easier. But short of finding a new, higher-paying job, what are some of the ways you can make this happen?
1. Ask for it
Don’t be afraid to ask. If you believe you’re worth more money than you’re getting, you’ll never know unless you ask. Yes, you may be knocked back, or clients may not be receptive to the move, but if you’re good at what you do, haven’t raised your rates in a while, or believe you deserve a raise, chances are you’re due for one.
Before you ask for anything, do your research. See what other people are earning who are doing the same work as you. There are plenty of websites out there that will help. But remember, companies may use the same job title yet have a different job description, so you should always compare a few.
And remember, while you should be direct in asking for more money, you also need to balance the way you ask with your attitude. Don’t be too cocky, be friendly and warm, and frame your request in terms of what you bring to the company, not what you need from the company. A good technique is asking for a raise in terms of a range of salaries, with your preferred amount in the middle, as this shows you’re flexible.
2. Educate yourself
No matter how long you’ve been in your industry for, or what study you’ve already done, you can always learn more. The world is changing at a rapid rate and you need to be able to keep up with it, especially if you’re going to be asking for more money. Professional development is key to bringing more to the table, and improving your skills and knowledge will help further your career.
3. Sell unwanted things
When was the last time you actually took that bike sitting in your garage for a ride? What about all those old electronics you’ve been keeping for no apparent reason? EBay and Gumtree can be your best friends. If you haven’t used something for the past few months, chances are you won’t in the near future. So hop online and start selling! And don’t discount the old electronics; people will pay big bucks to use their parts.
Of course, there are bigger things you can sell as well. If you have two cars, yet one sits in the driveway 300 days of the year, it may be time to sell it. There are so many services available you can probably make do with, including GoGet and other car share services, so you’ll probably find you won’t even miss that second car.
4. Use your extra possessions to generate an income
In today’s age of the shared economy, extra rooms, granny flats, or extra cars can equate to big bucks. Check out sites like Airbnb. You can rent out your spare room or granny flat, or alternatively, earn extra money by renting out your whole property while you’re away. Just remember to check the tax laws in your state, as you may need to declare this as an income.
If your car sits at home all day, there are loads of services you can sign up with to share your car with others in the neighbourhood. Alternatively, if you don’t use your garage or a car spot you own, there are plenty of people who would pay to use it.
5. Work in freelance
If you have a skill you can use on a freelance basis, use it. Yes, this may mean longer hours during the day as you move from your day job to your freelance work, and it may also mean working on some weekends, but if you manage your time effectively, you could reap big rewards.
Companies like Uber and Etsy are helping people to earn more money on the side, either by offering a driving service, or by creating something and selling it online. Just remember to check your employment contract about what kind of jobs you can have on the side. Many will say if it’s work competing with your current company, then it’s off limits.
6. Have an opinion
There are many opportunities out where you can be paid to give your opinion. Whether it be filling out online surveys, testing websites for startups, reviewing products or services, or even reviewing apps, many companies will pay for feedback so they can better their product or service.
