5 ways to improve your income

5 ways to improve your income
March 29, 2016 admin
5 ways to improve your income

Is your bank balance not looking quite as impressive as you’d like it to? Here’s how you could improve your income.

Whether your outgoings are currently higher than your income, or whether you’re just looking to earn a little more for some of life’s luxuries, there are many different things that you can do to increase your income.

We’ve picked out 5 of the best ways to improve your income:

Ask for a pay rise

Before you look elsewhere, it makes sense to start by boosting income where you already have some to boost!

Don’t just ask your manager for a higher wage or salary. It’s important to have reasons for your request, and evidence to support it. Work out how long it’s been since you last received a pay rise – is it reasonable to ask for another? How much are other people earning doing the equivalent job elsewhere? Can you take on more responsibility to earn the extra money? What have you done so far to deserve a salary increase? Pick out some of your key achievements, particularly if they’ve directly benefited the business by increasing turnover.

Work more

Can you do overtime to improve your income? Can you take on someone else’s shift, if they don’t want to do it? Taking on overtime hours can improve your income considerably. Even if your current employer doesn’t actively offer overtime, they may have something that you can do if you need the extra cash.

Alternatively, if your employer allows it, work freelance in your spare time or take on a second job. Some employers will let you do this, as long as there are no direct conflicts of interest. The benefit of taking on a second job is that you can do something entirely different to your full time career, which can be very refreshing.

10% of all workers have a second job. Your options might include shelf stacking, babysitting and leaflet delivery.

Make and sell

If you have a skill that you can put to use, why not make things and sell them? Websites like Etsy are popular with people that want to sell what they’ve made, whilst other options include selling on eBay and opening up your own Facebook page.

Check your benefits entitlement

The Department of Working Pensions estimates that more than £12 billion of benefits are currently going unclaimed by people that are entitled to them. You can use the Turn2us benefits calculator or the entitledto benefits calculator to see what you could claim.

Do online surveys

Online surveys won’t dramatically increase your income, but will bring in a little extra money that could pay for the occasional dinner. The more survey sites you sign up to, the more you’re going to make overall. There are definitely more effective ways to earn the same amount of money, but many people choose survey sites because you can complete the occasional survey whilst you’re lying in bed or watching your favourite TV show, with no commitment required.

Remember that every penny counts when you’re boosting your income. Don’t rule out the possibility that you could earn more than you are, because there are always additional income streams available.