10 Key Income Sources That You’re Yet To Exhaust

Whenever you find yourself a little short on the money that you need, you probably wish that you could earn more. It’s something that many of us think from time to time. Because when you’re generally quite good with your finances, you know that you’ve covered all of your other based. When you’ve been through your monthly expenses to cut them down to a minimum, when you watch how much you spend, and you’re very conscious to save some money each month, you’re already on the right track. But what are you meant to do when you’re paycheck just isn’t quite covering what you need it to? Whether you still struggle to make ends meet, or you’re doing okay but you’d like to increase your income, it’s time to take action.

Because that’s the thing about your monthly earnings – they aren’t always going to increase themselves. And when you’re only working with the one paycheck, you’re probably quite limited on how you could increase it. But, at the same time, don’t let this dishearten you. Because it really doesn’t mean that your paycheck will stay the same forever, or that your financial situation will have to stay like this. Instead, when you accept your situation for what it is and then vow to make a change, you can start to improve your income. The key is to start taking steps towards making it happen. So let’s look at ten different income sources that you’re yet to work on.

1. Getting A Pay Rise

First up, you’re going to want to think about the ways that you can raise the paycheck that you already get. For many of us, it would be great to get a payrise in the next few months. If you’re not somebody that actively chases a pay rise every few years or so, then you may want to start thinking about how you can do it. Ask for a payrise can seem scary. But if you know that you work hard, and you have evidence to show that you deserve it, it can often be so much easier than you think.

2. Getting A Second Job

Another simple way to make sure that you’re increasing the income that you have, is to get a second job. Maybe you’ve already reached the top salary that you can get, or you just want to get an instant top of us cash, then there are a range of second jobs that you could work on to bring that extra money in. If you have time in the evenings or weekends, this could work out for you really well.

3. Starting A Side Hustle

Then, there’s always the option to go with a side hustle. If you’re not too happy with your job and you’re not sure of what more earning potential there is to be had, starting your own thing on the side is a really great idea. Whether you want to write freelance, make crafts to sell, or create an online business selling a service, go for it. Doing this alongside your full-time job is a great way to build up that extra income you want.

4. Starting Your Own Business

As a step on from that, you may want to launch your own business on a much bigger scale. Think putting months into researching and planning to be able to pull this off. If you have always wanted to do your own thing, go for it. You could either start this in the side-hustle format alongside your full-time job, or go into it full-time so long as you have some financial backup to protect you.

5. Increasing Your Savings

Next, you’re going to want to turn to the money you do have. Because you don’t always have to look for new streams in order to increase your income. If you have exhausted what you’ve got, then you’re missing a trick. You should definitely look to increase your savings potential by moving your money into an account that is going to give you the best return. Then, you could even generate some income from this.

6. Starting To Invest

If all of your savings are instant access, then you could also be missing out on further income potential. Investing can help you to bring in a monthly income if you do have the right amounts to invest. So consider getting started here and make your money work harder for you.

7. Cashing In On What You’re Due

If you think you could be due some money, then definitely pursue this avenue too. By seeking assistance from the experts, such as McKinney, Tucker, & Lemel Law Firm, you could really maximize the amount that you’re due too. If you are owed the money for personal property damage, loss of income, or even something like medical bills, then definitely cash in on what you’re due.

8. Considering Passive Income

Then, there’s a range of passive income, such as Good Financial Cents show, to consider. Passive income can generate you money while you sleep, so if you’re willing to put the prep in to make it happen, this could be a great way to create a strong income source.

9. Making Money From Your Home

Next, you’re going to want to think about some income sources that are a little closer to home – such as your home itself. Because you can make money from your property in a range of ways. From renting out a room or storage space to even setting up a B&B, you may find that you can maximize the money you earn from the comfort of your own home.

10. Selling Your Old Stuff

Finally, you should definitely think about having a bit of a clear out too. If you have an attic full of stuff, you may find that you could make some great money to put into your savings or help towards living expenses, just by having a clear out and selling the things that you no longer need.

Every Little Helps: Money Saving Tactics For Everyday Costs

Why pay out more than you have to? It is something that many people think, but seem to forget all about when it comes to their own finances. In fact, too few people know how to save on every day, and mundane costs, something that might not be all that much money on their own, but sure can add up over the long term! To that end, check out the guide on every day money saving strategies below.

Coupons are well worth using.

Now, whether you are an avid fan of the show Extreme Couponers that you can see in the video below, or not, using coupons in your own life is something that can save you a decent amount of money.

In fact, here in the US, we are lucky enough to have coupons that offer products at a greatly reduced price, or even for free. Some coupons, when combined with smart shopping, can even mean you get paid to take products home from the store, reversing the entire transaction process completely. That is why clipping and using coupons is an action you need to add to your everyday money-saving arsenal.

Spread payments need to be interest-free.

Hands up if you spend hours online looking for the best insurance, or loan quote? Well, you are not alone as many of us see the value in this. Sadly what too many folks forget is that if you then choose to spread your payments out over a year, it can cost extra because of the interest that is charged for the privilege of doing this. Something that can end up eating the saving you have made!

With this in mind, looking for products and services with spread payments that are interest-free like the high-risk car insurance offered at https://servoinsurancebrokers.com/high-risk-auto/ is an important money saving tactic that you also need to aware of. Especially as so many products are offered on these terms.

Negotiation is not a dirty word.

Shopping is simple, right? You go into a store find the item you want, look at the price ticket, check you can afford it, and then make your purchase. However, that isn’t necessarily what the process of shopping needs to be.

In fact, for some types of items, it is OK to negotiate an haggle down the price as suggested in this post :https://jezebel.com/5875539/how-to-negotiate-for-a-lower-price-on-anything. Obviously, you have to be sensible with this tactic, and I’m not suggesting you haggle down the price of a single apple unless you want to start annoying shop owners in your town.

However, for bulk buys and electronics items you may find that there is more leeway on the price, or that the vendor can throw an additional bonus item in to seal the deal.

In particular, if you are happy to take a display model rather than one that is still factory sealed you can get some great bargain in this way. Something that makes it another smart tactic to add to your money-saving arsenal.

What You Need To Consider Before Making Your First Investment

When you’re new to investing, it’s only natural that you’re going to be a bit intimidated. Up until now, you may have played it relatively safe with your money and savings. Maybe you like to see your money and keep it in cash, or you like to have your money in instant access savings so you can get to it? Either way, you probably also know that you’re not going to be getting the best return for your money, particularly when you compare those methods to investing. So it’s often exciting to be able to consider making an investment that will give you a great return. From traditional financial investing in stock and bonds, to things like property, cars, or art, you do have the potential to make some great money when you invest. But before you do, here’s how you need to approach it.

1. The Type Of Investment

Before you get ahead of yourself, you’re going to want to work out what kind of investment you want to make. For this, you can research online to see what kind of options you have, or you can choose to work with a specialist broker that can advise you. In short, you’ll want to know whether you prefer to invest your money in stocks and bonds, or whether you want to go with something different and specialist, such as commodities.

2. The Amount You Invest

The next step is working out how much you want to invest. While this decision is up to you, the type of investment that you choose may also have a say in the amount you will need to invest – especially when it comes to minimum amounts that may be accepted, or that would even get you that investment in the first place. Again, your research in step one should help you to come up with a figure that you’re comfortable with.

3. Any Tactics You Want To Use

From here, you may also want to think about your investing tactics. If you are investing in the stock market, then this is going to be particularly important. Deciding on your approaches, such as bear put spread and other tactics, will often determine how the investment goes. Whether you play to play it safe or be aggressive, having a plan of action can help you here.

4. The Term You Want To Invest For

Another key point to decide on before you invest, is the term. Some investments may come with a minimum term, meaning that you may not make any money until the market changes. So you’ll want to be comfortable with the term that you’re tying your money up for.

5. The Risk

If you’re a little weary of making your first investment, measuring risk is going to be a good thing for you. Working out the risk, and getting to know exactly what you’re facing will not only give you peace of mind, but it will help you to decide whether or not you want to make the investment in the first place.