10 Ways To Boost Your Monthly Income
Boosting your monthly income can seem like an impossible task. However, no matter what job you have – or how much you get paid – wouldn’t it be great if you had a few extra dollars each month to help you get by more comfortably? If you put your mind to it you can bag yourself some extra money in no time. Here are 10 ways you can increase your cash flow and improve your bank balance.
#1: Ask your boss for a raise
(This one might not be possible for everyone but it’s worth mentioning). You may be struggling financially because your boss simply isn’t paying you enough, and as we’ve all experienced within the last few years, living prices are always going up. You don’t have to march in and demand that you’re paid fairly; you just need to be wise about it. Why do you deserve more cash, and can you prove it? If you don’t ask, you don’t get.
#2: Change your bank account
Sometimes, the main problem that you have is that your bank – particularly your savings account – simply isn’t giving you as much as you deserve. Banks always change up their rates, and you could benefit by switching your account to a different company, where the interest rates are higher. Sure, it may only be an extra £100 a year, but who’s going to complain about getting more free money? Plus, most big banks offer a sign up bonus too!
#3: Sell your old stuff
Old is the new… new, in 2019, and there’s a reason why. We all have a drawer full of unwanted and unloved items. Kindle, we’re looking at you. However, this may be something that others are willing to spend some cash on, so why let it just sit around? Put your unwanted stuff up for sale, declutter and earn some money in the process.
#4: Start a freelance side hustle
There are tons of people out there who do things out of enjoyment (like writing and sewing). And some people will look at your creations and say, ‘wow, I wish you’d sell this stuff.’ So why don’t you? Something that you can do from home is turn your hobby(painting, knitting, graphic design) into a money maker. Perhaps you’re good at dancing? Sports? Languages? Why not turn your talent into a class.
#5: Rent out a room in your home
Sure, you could get a fast loan in times of need, but there are tones of other ways to keep yourself in the clear financially. If you’ve got a room in your home that is currently unoccupied, then why not rent it out as a holiday stay, or on a more full-time basis? People are always looking for this kind of thing, and it’s a great way for you to get a passive income, on a consistent basis, so sign up for something like Airbnb.
#6: Use your tasteful eye for vintage
In the past few years, people have become obsessed with vintage clothing. And the obsession doesn’t stop there; vintage furniture, collectables, and other interesting items. If you’ve got an eye for things like this, then why not pay a visit to your local thrift store or car-boot. Spot the vintage/collectable and you could be earning big profit when you sell them on. If you really want to go all out, you could open your own online vintage store, too.
#7: Be a clever shopper
When it comes to food shopping, you don’t always have to pay those high prices. This isn’t a way to boost your monthly income as such, but looking out for great deals will help you save money every month. Shopping at night to get the best deals is a good idea (look out for your local shop’s reduced section), and be selective about which supermarkets you actually go into (avoid the expensive ones). If you’re shopping online, always do so through a cashback site – that way you get a % of your spend back!
#8: Start a blog
OK, so we may be a bit biased. However, a blog can be a great money maker, because you can use ads to generate income, and post about products that you’ve been sponsored to review. Not only will you get cash for this, but you’ll also get a lot of freebies, which could help you to cut down your monthly outgoings. Start writing, and see what you can get out of doing so! Follow my guide to setting up your own blog.
#9: Use a discount code plugin
When you’re shopping online, there’s nothing better than finding out a discount code. Now, you don’t have to pay full price for what you want, but you probably have had to spend a while looking around for one. There are plenty of plugins that can do this for you, although some are more reliable than others. Try this out if you haven’t got much time, and you could save a lot in the long-run. Honey is my favourite discount code extension.
#10: Become a pet sitter
This is, obviously, the best income booster on the list. If you want to make some cash from doing something really fun – and wholesome – then why not look after somebody’s cat or dog for the weekend whilst they’re away, and get a fair bit of money from doing so? In some cases, you may even get to stay in the house whilst you do this, which can be pretty cool. Look into your options here, and get paid to hang out with cute animals!
If you want to boost your monthly income, then try out these 10 things. You’ll have a little more cash in the bank in no time. Whether you’re feeding somebody’s pet for the weekend, or arranging a meeting with your boss in order to get a raise, there is something for everybody out there, so give it a go! Good luck, money maker.