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My partner and I were looking through our bills, our savings, and our investments yesterday. He had been yearning for some new equipment for his business, while I was desperately hoping we’d have enough for the plastic surgery I’ve been hoping for. At the end of the reveal, we realized we didn’t have enough money for either.
It was like we were stuck in a rut. We kept trying to save, but to no avail. For some reason, we just couldn’t get any money at the end of the month! It was then we realized that what we needed to do was to figure out ways to make more money.
After a lot of research, we figured out what the best option would be for us. If you’re not sure how to better your financial situation, give these ideas a shot.
Get more skills under your belt.
New skills means new ways to make money—and at times, can even turn into a new career. People want to hire people who have a variety of skills, and let’s face it, unskilled labor is not paid too well.
Take a look at your current interests and hobbies. Do you see any skills that you could learn that may be able to turn into a serious career or side job? Things like photography, graphic design, and even woodworking can turn into a serious source of income if you know how to market yourself.
Getting a new skill doesn't have to mean going broke due to college debt. You can get plenty of new skills through courses from Udemy, including learning how to program in C++ like the course above.
Ask for a raise.
This is the simplest of all the ways you can make more money, but it’s also one of the most effective. Studies show that people who ask for raises are far more likely to receive them, which in turn, means they’re better paid throughout their career. Amazing, isn’t it?
However, this isn’t a guaranteed money-maker in all situations. Sometimes, a raise just isn’t in the cards with a certain employer, regardless of how much or how well you work. Even though there’s no guarantee, deciding to tactfully ask for a raise wouldn’t hurt.
Showing them how you save money for the company is usually a good way to go about it.
Brush off your résumé and start applying elsewhere.
Statistics show that most people tend to get higher pay raises by switching companies, rather than waiting for their turn for a raise at the company they currently work at. The money-making difference is often fairly grand.
According to some studies, you can get as much as a 20 percent raise in pay by switching companies every three years. Take a look at your current company and ask yourself if they have given you a raise in the past couple of years. If they haven't and you can't think of how to make more money another way, it may be time to switch.
Go back to college or get certification.
Let's say that you're a very skilled worker who already knows their stuff. You're capable, you're a must-have employee, and you just do your thing beautifully. Unfortunately, employers aren't paying you your rightful wages because you don't have a slip of paper that shows you're actually skilled in it.
The best way to show HR that you are worth more money is to have certificates to back it up. Depending on which certification you pursue, your pay raise can be anywhere from $200 to upwards of $20,000 per year.
Consider building up your credentials through publishing books or attending conferences.
It's no secret that publishing a book is still a fairly prestigious endeavor. What's more of a secret is how highly certain employers regard published authors in their field—and how much extra money you could be making by adding "author" to your resume.
Publishing your own book isn't easy, but if you're willing to dedicate an hour a night to it, it's doable. This career advertising can eventually pay for itself, boosting your revenues in more ways than one.
You will need to understand how publishing works, though. This book will help you learn the ropes of the publishing world and make the most of your career knowledge.
Consider picking up a related part time job in your field.
If you want to prove to employers that you're a jack-of-all-trades, then the best way to do it is to show them. You can do that by getting a side gig in a field very similar to the one you currently work in, and show them that you're worth getting paid for both skill sets you employ.
For example, if you're an actor, you may want to start looking for singing roles or stuntman roles. If you're an English teacher, consider starting a college prep channel on YouTube. If you're a music producer, consider selling your services as a nightclub DJ.
If you're not sure whether you can pick up a gig in your field, don't pout. You can always make extra cash doing things like dog walking, freelance writing, or other similar off-hours gigs. You can make a lot of money doing simple things like this in the gig economy.
Did you know that around 70 percent of all employment positions aren't advertised? Moreover, were you aware that a lot of those unadvertised positions are extremely lucrative?
It pays to know the right people, big time. Finding the right people means knowing how to network, figuring out where to go to meet other professionals, and presenting yourself in an intelligent manner. Even reaching out via social media can work wonders!
Sure, networking is a lot of work, but it's work that regularly pays off. It's one of the most reliable ways to make more money on this list. Consider it an investment in your career.
Find a mentor.
People who are well-off know all the trials and tribulations that come with success. Just like scaling Mount Everest, it's a journey that is best done with a guide.
Mentors are guides who know what it took to get to the top, and are willing to impart that knowledge on people who want to listen to them. A mentor can offer priceless advice, words of encouragement, and at times, even the connections you need to make to succeed.
Consider hiring a life coach.
Many people might deride life coaches as hooey, but this is not the case. Life coaches are people who help you decide what you want out of your life and career, then offer you advice that can help you focus on achieving your goals.
Life coaches are ideal choices for people who want to make a major, sweeping change in their lives. In many cases, this can reflect in your career. Hiring a coach might be one of the more roundabout ways to make more money in your career, but it could definitely prove to be worth it.
Though there are outliers in every industry, it'd be a bold-faced lie to say that all careers pay the same. A career in fast food will likely never pay a good wage, but a career in finance most likely will. Monetarily speaking, it would make sense to choose the finance career over a life of managing a Taco Bell.
If you're looking for one of the fastest ways to make more money in your career, go back to college and switch careers. People change careers around three to five times on average, so it's worth knowing how to switch careers successfully if you're not happy with your pay grade.