Something you may commonly search online for answers about is how to make more money. There is no doubt in my mind that most people want to find ways to earn good money, no matter current income levels.
However, instead of some of the traditional countdown posts with tons of random ideas, I wanted to explore a bit more in-depth into some specific areas. Many of these tips I’ve applied in my own life, which has helped me amp up the extra money I make each month. And these tips are all possible without having to go back to school!
Make More Money In Your Current Career
Now, I want to preface this section that these ideas might not apply to every career or full time job out there. Every job and industry is different and some will require more formal training or schooling to get you to that next salary phase. But there are ways to make money and more of it in your current career.
Ask for a Raise
The first option for you to make more money is to ask for a raise. While it can be intimidating to confront your manager for money, many times you’d be surprised at the positive response you can get.
If you come prepared and can show your value, good managers will work with you in bumping up your salary. But you also have to be in control of the ask, so you can steer the conversation and potentially get a raise you are comfortable with.
I’d recommend diving into our asking for a raise tips in order to set yourself up for success. And if anything, you may get some bonuses throughout the year which can add up.
Get certified
Again, this might not apply to every specific job or career. However, there might be options for you to get specific certifications that will help elevate how much money you can make.
These certifications can also help you get that raise or negotiate a higher salary for a new job later on. Pending what certifications are out there specifically for you, there might be free ones or ones you have to pay to take.
However, certifications that cost money are a fraction of the cost to pay to go back to school and something you can do in your spare time.For example, I was working towards a career in digital marketing, so I took some free certifications from Google and a marketing software called HubSpot. This helped me land a marketing position with higher pay.
Shadow other people and departments
Sometimes asking for a raise doesn’t work out in your favor immediately. While that can be a bit frustrating, you should work with your manager on a plan to how you can get to that level.
Many times you may need some more experience or knowledge. A great way to learn is to shadow other people and departments to increase your paycheck and money making power.
This is actually a good thing to do ahead of asking for a raise, to showcase even more initiative. But you can start learning how to do more things or see how things operate.
It can help you transition to a new role within the company that pays more or to help you become more well-rounded if you are looking to level-up your job title.
Negotiate a higher salary
Sometimes, you can do all the right things to make more money within your company but it still doesn’t work.
Unfortunately, not all managers are great to work with, companies have super strict budgets, or they are not interested in helping you grow.
If that’s the case, then it might be time to move on. During this time is when you want to practice your negotiation skills.
As you apply for new jobs and get offers, the hiring manager will either ask what you are looking for or generally try to give you their lowest option. But you’ll be prepared!
And since you are getting a fresh start, it’s time to show them your knowledge and skills. Besides a resume, bring any major accomplishments to showcase, talk about how you continue to learn and improve, and know when to walk away.
If you recently got an offer or looking to be prepared ahead, take a deeper dive into our salary negotiation tips.
Earn More Money Freelancing
Working on your career, asking for a raise, or negotiating a new salary are great ways to really ramp up how much income you make this year. But sometimes those things can take time and you want to start making extra cash sooner rather than later. I hear you, as I think most of us can relate to that feeling!
The best way to earn extra money is to start freelancing. It’s a great way to start making money on the side. Or as you may refer to it as “side hustling,” which that term has exploded in popularity.
But freelancing and side hustles are pretty interchangeable in my opinion. If you plan on freelancing within the same field as your career, you want to be careful and maybe follow-up with HR.
Some companies do not want you to be in similar industries doing outside work, especially if in your hiring papers you signed a non-compete clause.
How to find freelance jobs
First, ask yourself some questions that can help guide to some extra work you want to do to make more money:
- What are your current skills? What are you knowledgeable in?
- How many hours will you dedicate outside of your normal work hours?
- What do others think you are good at or come to you for often?
Once you know your skills and what you are interested in doing, start finding freelance opportunities.
What I like about freelancing to make extra money is you can do the work on your own schedule. Now, if you are working directly for a business there might be some set hours you need to do or deadlines to hit.
But, you have a bit more control in when and where you work, plus you can generally set you own prices for the work and start earning money.
What’s really cool is your freelancing opportunities can quickly grow into your own full-time income. And vice versa, if your life gets busy or your career takes up more time, you can scale back as well.
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