With the cost of everything continuing to rise you may be looking for ways to boost your income, we have a few tips for you to try, which we’re covering in this post.
Jump-start your income with a side hustle
If you have a full-time job and you need to start boosting your income, one of the best places to start is with a side hustle.
It doesn’t have to be a full-time thing – just a few hours here and there can make a big difference in your cash flow, and most of the time can be done from home in your spare time, or when the kids have gone to bed.
What kind of side hustle can make you more money? It depends on your skills, interests and availability.
You might make extra cash tutoring kids, pet-sitting, selling stuff online, running errands, completing surveys, cleaning houses, or writing articles or books.
Take on extra hours if you can
If you’re currently working full-time and you need more cash flow, the best way to get it is to increase your hours.
Unfortunately, it’s not as easy as just saying “work more”. The hours actually need to be available, and then your boss has to agree to you taking them. Likewise, if you have children, it can be a balancing act between increasing your working hours and not increasing the cost of childcare beyond your wages.
If you’re already working as many hours as you can, you might try negotiating a promotion or a higher salary. You might also want to consider taking on a second job. It might be challenging, but it could help you earn more.
Boost your earning potential with an education
If you’re looking for ways to boost your income in the longer term, getting a degree or a certification can help.
The higher your degree and the more specialised your degree is, the more you can earn.
Of course, this is a long-term strategy that will take time and effort to pay off. But there are many ways to get a degree or certification online that are flexible, convenient and affordable, such as those available from places like The Open University.
Get paid to participate in research studies
If you want to make a few extra pounds, you can find online research studies that pay cash. These are quick and easy ways to boost your income without any long-term commitment. Many of these studies only last a few minutes, but they pay anywhere from £1 to £100. These include surveys, product tests and online focus groups.
Consolidate Existing Debts
If you have any debts you’re currently paying off, then you probably find that these payments are eating into a good chunk of your income.
A good way to free up some cashflow is to consolidate all of your debts into a single monthly payment you can afford.
One of the benefits of doing this is that you can usually negotiate with your creditors to remove the interest on your debts, which is often more expensive than the original amount you owed.
If you’re looking for more help or advice on freeing up some money each month by getting your debts under control, then read more about our debt services here.
Or contact us to have a chat about your needs. Our friendly, professional team are always on hand, and happy to answer any questions you have about managing your debt.