There are so many money-making opportunities both online or offline, but if you actually want to raise some cash, you shouldn’t do low-skill tasks and get minimum wage. Instead, you should learn a new skill and spend some money to start getting money.
1. Try to pay less for your bills
Not everyone thinks about it, but you can negotiate the price for pretty much every service. Including the fixed monthly costs. And saving money is the same as earning money.
The examples of fees you can pay less for include:
- Gym fee
- Credit card rates and fees
- Cell phone fee
- Cable fee
- Car insurance
Make a phone call, and ask if these costs can be lowered, it’s that simple.
Pro-tip: remember two great phrases:
- “Times are difficult.”
- “Is there anything you can do?”
Always be nice. If something goes wrong, don’t panic. Just hang up and call back later. Chances are that you’ll be talking to a different person, maybe they’ll be able to help you.
2. Do the same with rent
Probably, rent is your biggest expense. So if you lower it even a little, it will quickly add up.
So how can you do it?
You should figure out what your landlord needs.
These are a few things you can offer in exchange for lowering the price:
- Prepay in advance
- Sign a long-term lease
- Suggest extending the termination notice from 1 month to 2 or 3
- You can give up a parking space if you don’t need it
- Promise things that will save them money once you move out like not smoking inside the apartment not having cats at home (if those things are allowed for you now), etc.
3. Sell something on the Internet
If you have a pair of great shoes you never wear or a collection of old baseball cards or an outdated device, sell them on an online marketplace like eBay, Craigslist, etc.
4. Negotiate your salary
With just a small conversation you can earn thousands more and the best part is that the gains only add up year after year. So, a great deal all around.
- Find out how much you should earn. To do so, you can use different sites, for example, PayScale.com, Glassdoor.com, or Salary.com, to see the salary range for your position and area.
- Prepare your boss for the talk. Tell your boss that you’d like to discuss your salary with them.
- Use the information about your achievements at work during the negotiations; also, think about the problems your company faces and how you can solve them.
Just make sure that you actually do a great job, so that you had the arguments in favor of the raise.
Such negotiating takes some upfront work, practice, and lots of courage. However, what you get out of just 1 conversation is definitely worth the effort.
5. Find another job
If you’re wondering whether you should find a different job or even change industries, you can use the so-called Bezos Regret Minimization Framework.
It’s quite simple. The question you need to answer is: what will I regret more in 20 years: changing nothing or trying out something new (and maybe failing)?
6. Become a freelancer
Both finding a new job and preparation for negotiating a more competitive salary take time. But starting a side hustle on the Internet is much faster.
Remember that freelance is a skill, and you have to learn to become better at it.
To choose a side gig that suits you, answer the following questions:
- What do I like doing?
- How much free time do I have?
- What am I good at?
- How can it be helpful for my potential clients?
Some people don’t have enough time to organize their closets. Others need a website designer, there are lots of examples.
Analyze these things
- Your skills (like coding, languages, copywriting, etc.).
- Your hobbies, things you like to do in your free time.
- Next, what makes you knowledgeable enough to be paid for what you do?
- Maybe you have a degree at this, or you’ve finished some online-courses? That’s very helpful, but probably the most important thing at this stage is to have a good portfolio, showcasing your best works.
- Finally, start looking for clients.
You can just print out some business cards or create a website. But first, make sure to understand what people want.
– Know your clients, their needs, and wants.
– Talk to them directly. Don’t just sit around and wait for someone to find you. As soon as you’ve found a potential client, send them an email directly.
Hopefully, these ideas will help you with earning more money. After all, financial freedom is worth working towards!