Five ways to increase your income within the next 90 days.
The path to the NAD is to pay down debt, save a ton and invest in indexes. That's all well and good however, what if you are living paycheck to paycheck? What if you are swimming in a pool of debt and you are just barely holding on? How are you going to turn around and get off the consumer path and jump on the interstate freedom?
You are going to have to do one of two things:
- Increase your income.
- Decrease your expenses.
This post will deal with ways you can increase your income in the next quarter or so. Part 2 will be on ways you can save money. ( without cutting out your favorite lattes)
Ask for a raise
This seems a no brainier but more than 57% of people surveyed in this study said they couldn't ask for a raise. Among the 57 percent who didn't ask for a raise, the top reasons were that they got a raise without asking (38 percent) or that they would be uncomfortable asking (28 percent). Only eight percent reported that they were satisfied with their salary. How can you say you want to increase your income if you never take the obvious first step?
The key to asking for a raise is doing your research and understanding what the value is for your job.
Do yourself a favor and go here and figure out how much people in your field are getting paid and see if you can get closer to the top 5%.
75% of people who ask for a raise end up with some kind of raise.
Do you know how to play the guitar or piano, teach little kids how to play in instrument? Are you good with numbers? Start tutoring. Chances are you have some type of skill that you can be using to make some extra cash on the side.
Remember we aren't trying to start the next apple, we are just trying to get some extra cash flowing in so we can A) pay down debt, or B) save to invest.
Maybe you aren't the best guitar player but so what, you aren't trying to be. You are simply teaching what you know and charging a fee.
Freelancing is a great way to leverage your skills you already have to turn a extra 300-1000 a month.
Become a driver
Do you have a car? If so uber is looking for drivers. Uber is this great little app that links people in need of a ride to people who are willing to pick them up - for a fee of course.
The great thing about Uber is that you set your own schedule many people are making a great amount of side cash by driving people around on the weekends.
Rent out a room in your home
Yes, it is scary to have someone you don't know living with you, but if you take the necessary steps to screen them you will be OK more often than not.
Background check, Job history, credit score, references and set ground rules. Most people aren't serial killers but you can't tolerate most people either. Sit down and figure out what you are looking for then only except those kind of applications.
Get a part time Job.
Last, but not least, getting a part time job may seem " so last millennium" but some people just don't have it in them to find clients and nurture them. Working a more traditional part time job is often times a good alternative to freelancing.
Do you know any ways you can people can make extra money? Please leave a comment or two below.