Smart Ways to Increase Your Income

Jan 23

Smart Ways to Increase Your Income

Do you wish you had more money? While some people are perfectly happy with their financial situation, many more would rather have a bit more spare cash. But when you’re already working full-time, how can you have any more money without reducing your spending? If you want to earn a bit more but you don’t know where to start, you’re in luck because there are lots of ways you can increase your income. Some of them will require that you put in some time and effort, but there are some ways to make more without doing much of anything. Have a look at some of these methods for earning extra money and find one that will fit into your lifestyle.

Get a Part-time Job

This option isn’t for everyone, but if you have the time to spare, you can get a part-time job. The best positions to look for are ones with flexible working hours. You can choose when you work, and perhaps fit your hours around school times and holidays. If you find a job to do around your full-time occupation, whether that’s work or being a parent, you want an employer who is dedicated to caring for their employees. For example, Applebees seem to care about local people. You can apply there right here. You don’t have to work too many hours to make a bit of extra cash, and you can use your weekends, evenings or work when the kids are at school.

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Photo by fsecart

Start a Business on the Side

If you have some time to spare, but you don’t want to get a part-time job, you could consider starting your own business. There are many companies you can run from home with hardly any supplies or facilities. If you have a computer with an internet connection and a phone, you have all the tools you need to get started. A lot of people like to take their hobby and turn it into a business. For example, if you enjoy crochet, you could sell your creations online or at craft fairs and markets. You can get an online store set up in minutes and start selling whatever you want.

Another option is to use one of your skills to offer a professional service. Perhaps you work full-time as a teacher, and you could provide tutoring services in your spare time. You can run your business in person or over the internet. You can even give people lessons, for example in English or another language, using a webcam. It’s very popular to offer virtual services, from writing and graphic design to admin and PR tasks. Just make sure that you do everything legally and declare your extra income with the tax man.

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Philip Taylor

Look for a Good Savings Account

Some ways to increase your income don’t require much effort on your part. One method for bringing in a bit more money is looking for a good savings account. If you have some money to put aside, you can make your savings go further. Don’t settle for inferior interest rates when you could be bringing in more, just by putting money in your account. It might not be a lot in the grand scheme of things, but it’s better than your cash just sitting there doing nothing.

Make Sure You’re Claiming Benefits You’re Entitled To

If you’re past retirement age, don’t forget to ensure that you’re receiving the pension that you’re owed. If you’re not quite there yet, you can think about putting more money toward your future, so the money is there when you need it. There are other benefits you could be entitled to as well, such as child tax credit and child benefit, working tax credit and housing benefit. If you’re struggling with money, check to see if you can get any help.

Have a Clear-out

Everyone has things lying around their house that they don’t want or need. Although it’s not a long-term solution, if you want some extra cash it’s a good idea to start selling some surplus possessions. You might have DVDs, jewellery, electronics and more. Even if your items don’t look like much on their own, you could make a nice sum once you’ve added up the money you earn from all of them. There are a few ways you can sell your stuff, both online and offline. You could go to a car boot sale or take things to second-hand shops to see if they will buy anything.

Online, you can use sites like eBay or advertise your items on local Facebook selling groups and pages. For DVDs, books and similar items, you can use websites such as musicMagpie, where they will buy them from you and sell them on. If you use eBay, remember that there are fees to pay. You can reduce them by listing things when they have no-fee promotions on.

Rent Something Out

If you have a commodity you’re not using, consider renting it out to other people. Some common things that people hire out include garages and parking spots, spare rooms and storage space. If you have a garage, driveway or parking space in a prime location, people could be willing to spend a lot of money to park closer to their job or home. Taking in a lodger isn’t for everyone, but it’s a great use of a spare room that’s going to waste. Just ensure that you do your research to make sure that you’re complying with the law. If you have other space that you’re not using, you could also rent it out for storage. You can use websites like Storemates to put up a listing to advertise.

If you want to try something a bit different, you can also let filming crews use your house as a set for movies or television shows. If your house is chosen, you could earn hundreds a day. However, it does mean vacating your home for however long the crew needs it and having strangers in your house.