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Saving · August 10, 2022

How to Increase Your Income: 5 Actionable Tips

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Learn how to increase your income with actionable steps you can start taking today. There is something everyone can do.

The concept of a financial crunch can be particularly daunting, no matter whether it refers to an overarching global problem or something specific to one’s situation. 

Our top option when facing financial difficulties is to cut expenses and find ways to increase income. Depending on where you live, you will have different options to earn some extra money. Let’s see how you can do this.

How to Increase Your Income

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Ask for a Raise

Ideally, if you still have a traditional job, ask for a raise. Make sure you follow whichever system your boss has set up for asking for a raise. Since most jobs today do not offer regular raises because of time invested, you will need to ask for one if you haven’t received one in a while. Find out what the pay range is for your expertise by doing your due diligence.

If you operate your own business, you could raise your salary. Before attaining this goal, you must bring in more income, reduce expenses. This might involve sending out more emails recommending new products or creating new products. A little extra effort can help most self-employed people make more money.

Learn more with How to Ask for a Raise.

Take on a side hustle

There are times when having a side gig can be necessary and bring you a sense of security. You can drive for Uber.com, shop for Instacart.com, walk dogs, and clean houses at Thumbtack.com. Most of these platforms allow you to sign up and begin working within a week or two, depending on whether background checks are required, but in general, you can sign up now and begin working immediately.

Another great side hustle is blogging. It’s a side hustle that can be done from home and allow you to share your interests with others. Once you learn the basics for how to start a blog you can get up and running in no time.

Learn more with The Best Side Hustles with No Expertise Needed.

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Sell Your Stuff

Selling your stuff is another quick and easy way to earn money. Listed on platforms like eBay.com, Poshmark.com, Facebook Marketplace, Craigslist.com, and others, you will earn more. Organizing a garage sale is another way to sell. Consider having a community garage sale to attract more people.

Learn more with How to Become a Reseller.

Grow and Sell Vegetables

Selling house plants, seeds, vegetables, or microgreens can make you extra money if you have even a quarter acre of land and live in the right area. There are even people who make money by selling mushrooms. It isn’t as hard as you may think to generate extra cash this way.

Cut Expenses

Although cutting expenses isn’t technically an income increase, it will free up the money you need to spend on necessities. You should cancel your subscriptions, cut out cable, drop down to one smartphone, and eat more beans and rice instead of meat. Try reducing or eliminating any unnecessary expenses until your finances are in order.

Additional Resources

  • Financial Tips to Help Your Family Survive During Tough Times
  • What is a No Spend Challenge?
  • Easy Frugal Tips for Families

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Posted In: Saving

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Hello! I’m Lisa – your personal financial guide! I’m here to bring you non-judgmental and practical information to help you live your best life.

Money should be a tool for both personal freedom and collective good, let’s navigate that balance together. Learn more about me and In Harmony with Money here!

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