3 Ways to Make More Money

For many people, a little extra money would go a long way toward helping them live more comfortable, stress-free lives. Whether you need more cash to meet your monthly expenses, you want to pay down debt or you’d just like some extra spending money, consider these three ways of boosting your income.

Get a Side Gig

Starting a new business can seem daunting, but did you know you can actually breathe life into a small business idea without having to invest your life’s savings or go into debt? There are many low-cost startup options from which to choose. Some are online and some aren’t. A small-investment business can give you the opportunity to try your hand at self-employment without the burden of a high-risk endeavor.

Here are a few business ideas you can start for less than $100:

  • Operating an eBay or Etsy store
  • Driving for Uber or Lyft
  • Delivering food for UberEATS
  • Flipping furniture
  • Freelance writing or blogging
  • Tutoring
  • Dog walking
  • Babysitting
  • Being a virtual assistant
  • Website design

These options for side gigs don’t require a large investment, and they have the potential to be profitable right away. While it will take a while for your small business to grow enough to replace a full-time job, it can at least provide some extra money now to help meet your financial goals.

Go Back to School

Another way to earn more money is to go back to school. Completing an unfinished degree or going for further education is a great way to increase your current income. In many career paths, the salary grows in direct proportion to the amount of education a person has. Your college education demonstrates your motivation and work ethic, and it can be leveraged to secure a raise or a better position as an employee. For example, RNs who go to school for a BSN increase their earning potential to as much as $85,000/year.

At other times, a degree can simply help you switch to an entirely different and more lucrative path. If you get a degree in a field with a strong demand and high pay such as computer science or the allied health professions, it’s even possible to have job offers lined up when you graduate.

Ask for a Raise

This straightforward method of making more money may not always work, but if you’ve been at a company for a year or more and you’ve been working hard, your boss probably sees you as a valuable part of the business. Most employers are willing to pay a little extra in order to keep an employee whom they know takes the job seriously. It’s usually preferable to taking a chance on hiring and training someone new. One of the best ways to build your business case is to show how your actions have improved the company’s bottom line.

These few ideas offer an excellent starting point for your quest toward a better income. However, increasing your income may not happen overnight, so don’t get discouraged. If you’re determined, you’ll succeed.

If you’ve had difficulty with your credit or with your finances, let JA Financial Group help!

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