5 TIPS TO INCREASE YOUR INCOME



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Ever since my first lemonade stand in elementary school, I’ve been an entrepreneur. At age 16, I replied to a published job announcement and started my door to door Avon sales business. In college I made “hippie” shirts and sold them to my friends. While working as a business intern in Spain, I gave English lessons on the side. I enjoyed my stint selling real estate, as my compensation was directly tied to my effort. After obtaining my first Masters degree in counseling and while employed at San Diego State University, I had a side career counseling practice to help offset my husbands huge graduate school tuition bills. I’ve held garage sales and sold stuff on Craigslist. Embedded in my DNA are ways to increase income.

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Women are particularly suited to increase their income. Yes, I know we make less than men per hour, but do not let that stop you from increasing your income. As moms, students, and employees, we are adept at going from one task to another. How many women have fed a baby while checking their email? Earning more money is a mindset. There are money making opportunities wherever you look, if you want to trade time for money, make it a priority.

Actions Determine Priorities

We are all dealt our own individual hands. Some have more money to start than others. Opportunities are more available for others. There are those who are more beautiful and smarter than the rest. Don’t worry about where you begin or what you cannot change. Spend your time and effort on what you can control. Say no to people and activities that do not move you forward. If you want to increase your income, take action! Create a money making plan and stick with it. Don’t expect money to roll in immediately, but over time, if you commit to increasing your income, you can make it a reality.

5 Strategies to Increase Your Income

1. Ask for a Raise

If you have a job, are a valued employee, and help your company reach its financial goals, ask for a raise. The economy is improving making it a great time to participate in your company’s growth. How to ask for a raise? Never say, “I need the money”. Who doesn’t? Schedule the meeting at a “low stress” time in the day and week. List how you help the company meet its goals and how your individual contributions contribute to the collective progress of the company. Consider how you interview for a job, and translate those type of accomplishment oriented selling strategies to your pitch. Don’t stop if the answer is no. Ask to revisit the discussion in three months.

2. Start a Side Business

What skills do you have that others need or want? Are you a teacher? Mow lawns or paint in the summer and over breaks. If you have older children, enlist them in your money making scheme. Are you a whiz at selling on eBay? Offer to sell other peoples stuff on eBay or Craigslist for a commission. Is your skill writing and editing? Promote your proofreading and editing expertise. Do you have a particular in demand skill or subject knowledge? Offer tutoring or teach a class. Everyone has some particular skill; sell yours. Elance and Odesk offer a forum for freelancers to market their skills.

3. Sell Your Stuff

If you’re like most individuals in the USA, UK, Australia, Europe and the rest of the developed world, you have too much stuff. Hold a garage sale or market your unwanted stuff on eBay and Craigslist. There are many guides and tutorials online to help you get started. My neighbors held garage sales twice a year, and with three girls, had lots of stuff to get rid of. They make extra cash to fund an annual vacation.

4. Open a Flea Market Business

Passionate about antiques? Love electronics? Visit garage sales, search online, and collect goods. Resell them at a flea market.   This is another money maker in which the whole family can participate. Make it an adventure to hunt for goods to resell. Buy inventory at the dollar store and mark up fifty percent. If you like shopping and selling, this is a fun money making strategy.

5. Open a Dirty Business

There are certain tasks that people hate to do; clean out the garage, clean out the gutters, wash their car, clean out the attic, apartment move out cleaning etc. These types of jobs command high compensation because they are unpleasant. Advertise with flyers in proximate neighborhoods and on Craigslist or other online bulletin boards.

Take a personal inventory and figure out what strategy suits you. Be prepared to put in time and effort. Expect disappointments and set backs. If one strategy doesn’t work, try something else. Visit the Women’s Money Week site for more great money articles.

How have you made extra money?

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23 Responses to 5 TIPS TO INCREASE YOUR INCOME
  1. Glen @ Monster Piggy Bank
    March 4, 2013 | 7:17 am

    It is amazing how many people don’t ask for a raise and then get all cranky that their coworkers out earn them.

    I have never been shy about asking for more money. Sometimes it works, sometimes it doesn’t. One thing is for sure though – If you don’t ask, you won’t get.

  2. Michelle
    March 4, 2013 | 10:13 am

    I’ve been working on starting multiple side businesses. Loving it and I’m having fun.

  3. John S @ Frugal Rules
    March 4, 2013 | 10:41 am

    “As moms, students, and employees, we are adept at going from one task to another. How many women have fed a baby while checking their email? Earning more money is a mindset.” Great point Barb! I see this mindset in my wife as well and I think a lot of it comes down to the many things that women tend to juggle. I try to check my email while tending to one of the kids and it just won’t happen. :) We’ve done many of these things and at the end of the day all you need is a little creativity and willingness to act.

  4. krantcents
    March 4, 2013 | 10:48 am

    I can relate to your early Avon experience because I was a Fuller Brush dealer at 17 years old. I think it helped me overcome shyness and open the possibilities of earnings based on effort. It was a game changer! I grew up with a woman (my mother) who never understood no or you could not succeed because you were a woman. Great points!

  5. Barb
    March 4, 2013 | 11:33 am

    @Glen, Those who are assertive and go after what they want, again and again, have a greater liklihood of getting it.
    @Michele- Congratulations, it’s great to get a payoff for the extra effort.
    @John-If you think about and work towards a goal, no matter how cliche, you have a possibility of success, if you don’t put in effort, you definitely will not meet your goal.
    @Krantc-Yes, both my parents were very action oriented, and my dad didn’t see boundaries for women!

  6. Heather Stephens
    March 4, 2013 | 3:50 pm

    Hi Barb,

    I so agree with you that earning more money is a matter of having the right mindset, being open to the opportunities in front of us and making them a priority. I’ve found that when I’ve been hungry for change, it is easier for me to become resourceful with my skills, talents, and experiences. When life feels too cushy, I go too easy on myself and I’m not willing to push myself to make it happen. I love your list of ways to increase income! Thanks for sharing it!

  7. Camille Gaines
    March 4, 2013 | 5:26 pm

    Thanks for the great ideas Barb. I especially love the new side business. We all have at least 2 or 3 in us!

  8. Brick By Brick Investing | Marvin
    March 4, 2013 | 8:20 pm

    All great points! I especially like #2 start a side business. Everyone is good at or has a passion for something! All they have to do is leverage that into a side hustle.

  9. The Happy Homeowner
    March 5, 2013 | 11:57 am

    My post today touched on the idea of money opportunities being there if you’re willing to look and work hard…love this!

  10. Barb
    March 5, 2013 | 12:21 pm

    @Heather-My “psychologist” husband always says “Being comfortable is over rated.” :)
    @Camille and Brick by Brick- So true. I still can’t believe how much I paid a guy with a pick up to haul away some junk. Great side business!
    @Happy- Effort is never over rated!

  11. Julie @ The Family CEO
    March 5, 2013 | 12:53 pm

    Knowing how to effectively sell your stuff is a great skill to have. I don’t often sell on eBay, but I’m glad I know how. Yesterday I listed an unused electronic item we had laying around and it’s already up to $71 with six days of bidding to go.

    Great list, Barb.

  12. Barbara Friedberg
    March 5, 2013 | 5:12 pm

    @Julie, We have sold lots of stuff, usually on Craigs list and you never know how much you may earn!!!

  13. Squirrelers
    March 5, 2013 | 10:54 pm

    Agree on each of these, and particularly like #2 and #5. One of those businesses from #5 can be a side business, and people can make decent income in that way. People can pay big bucks, relatively speaking, to outsource things they don’t want to do or have time to do.

  14. Jules@Faithful With a Few
    March 6, 2013 | 7:24 am

    Great ideas! I think the key is definitely not to just sit back and complain about no money. We need to get creative, and many of these take action.

  15. Barb
    March 6, 2013 | 1:12 pm

    @Squirrelers-I choose to outsource a lot of things which are not cost effective to perform; some website tasks, house cleaning, some home repairs and maintenance etc. Great business opportunities for others :)
    @Jules_ACtion is one of the best keys to success!!! I have a mindset that the more scary an activity is, the more I need to force myself to dive in!

  16. CT - Cashtastrophe
    March 7, 2013 | 9:14 am

    Making more money – increasing your income – is an important part of being balanced in your financial life. It’s not all about spending less. Great tips!

  17. Barb
    March 7, 2013 | 10:40 am

    @CT-Well put. You can only cut back so much.

  18. Will Van Hartog
    March 8, 2013 | 4:33 pm

    Another tip I’d give is Network with as many people as possible. It’s not what you know but who you know at the end of the day!

  19. Barb
    March 10, 2013 | 3:20 pm

    @Will-Thank you for mentioning that tip. I completely agree!! TEll everyone you know that you’re looking to boost your income.

  20. Pat Drummond
    March 22, 2013 | 8:57 pm

    6. I would have to say spend less. It’s not really making more more, but the opposite is making money is spending it wisely. By saving money, buying less coffee, or eating out less often, you can use that extra cash to invest into something else.
    -Pat.

  21. thepotatohead
    May 14, 2013 | 11:52 pm

    Like Pat said, I think #6 should be spending less each month. A penny saved is a penny earned after all. So anything you can do to save and scrimp will help you in your financial life. If you combine saving money off your monthly bills with increasing your income you have a killer combo.

  22. Barb
    May 15, 2013 | 4:42 pm

    @Pat, Sometimes it’s a lot easier to spend less than to make more.
    @Potato Agreed, in fact just a few tweaks by cutting back a bit and earning a bit more…. invest the difference and your on your way to building wealth.

  23. Ned Hubbord
    May 27, 2013 | 11:45 am

    the best way to increase your income is be :
    1- a smart beggar always pretend to be poor and in debt and ask for other peoples money .
    2- be your boss’s best dog , and shake your tail well , you are supposed to be a spy or a slave no problem as long as your boss is satisfied by you
    3- if you have husband/wife then try to take all his/her money for yourself otherwise no love no nice life .
    4- have no morals : steal if you can , smuggle , cheat , … and etc
    best wishes

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