6 WAYS TO INCREASE YOUR INCOME

Posted by brandstad in Sep, 2017

One important thing to remember when trying to increase your income is that you should aim to have more than one source of income. That way if your main source goes down or you have some unexpected bills then there is a buffer to cushion the potentially negative impact.
This 5 minute blog is all about how you can increase your income. Some of the ideas are short term fixes to immediate cashflow issues and others are more long term slow burn solutions. Hope you find the tips useful.

 

  1. Minimise your expenditure – it has already been covered in a previous post but if you are spending more than you are income you are in big trouble. It is a no brainer.  Look at every area of expenditure and see how you can reduce it. Shop around for better deals on consumer items in your weekly shopping, shop online, even consider downsizing your house if you can’t afford the rent or move to a cheaper area.

  2. Check your benefits entitlement– millions of pound is unclaimed every year because most people don’t bother to check what they are entitled to. Especially if you are working but on a low income. You may be able to get additional financial support in the way of working tax credits or other benefits.

  3. Go freelance or part time working using your skills – if you can play an instrument or have some other skills then it is worth looking into how you can sell your skills on an hourly basis either as a freelance trainer or private tuition. You can also get a part time job filling the hours outside work to supplement your income.

  4. Sell your stuff on EBAY – we are a nation of hoarders.  Most people have so much ‘stuff’ accumulated over time that is just sitting in our cupboards gathering dust. Why not sell it on ebay or gumtree or some other second hand website. There are even ebay sellers who would happily take your ‘stuff’ for a small fee and sell it for you so you don’t have to do all the hard work of taking pictures and posting it online.

  5. Start your own business part time– It is much easier than you think to start a business and it doesn’t have to be from scratch. There are many legitimate network marketing companies in the UK which cost little or nothing to start up. They have the marketing infrastructure and pay structure to support you as you begin, develop and grow. This is important because as a new start up you do not have the brand image to attract major sales initially where as the network marketing companies do. All you need to commit is your time. The returns may be small initially by they begin to grow quite quickly if you stick at it and it usually does not interfere with your regular job.

  6. Make money online – this can be as simple as using cash back websites to do your shopping. Or by signing up to do paid surveys and surf the web. There are a number of marketing companies and opinion polls who need consumer opinions and will pay you to submit yours. Again it just needs your time commitment no costs involved.