Posted by Allison on 4 April 2009, 10:09
Not everyone is happy with the amount of money they earn. Some people actually struggle to survive from day to day even on the most basic level. But whatever money you earn in your current job, there are ways to increase your earnings and make your future look rosier as a result.
There are three main ways to make sure you have more money each month, and everyone can try to aim for all three in order to achieve their goal. The three ways are essentially making more, saving more and investing more.
Making more money can be done in several ways. Some people look for a part time job in addition to a full time one, but this involves a lot of hours and in reality it can't be done for any length of time without running the risk of damaging your health. The best way to make a second income is to look at doing so online. It opens you up to all kinds of possibilities and the great thing is that you can look at job opportunities in different countries. Online payment services such as PayPal mean that you can accept payment in a different currency and then convert it to your own when it arrives in your account. You can also accept cheques in a foreign currency although you would need to check with your local bank first to see what charges would be levied on such a cheque. If it is for a small amount it often doesn't incur a charge, but it is best to find out before you get involved in accepting one.
Opportunities such as promoting affiliate products for a commission, filling in paid surveys and taking part in questionnaires, writing short articles for publication and even publishing your own online book are just a handful of some of the best ways to make more money without getting a second traditional job.
You can also effectively bring in more money by making sure less money goes out. Effective budgeting is the key to success here; you can also save money by checking all your household bills and making sure you aren't paying over the odds for them. Again, the internet can be a real boon here when it comes to doing research; just ensure that whatever household services you are looking at are indeed available in your home country and are priced in the same currency that you use. It's easy to go from website to website and not realise that you are in fact considering buying a service from a foreign website which is priced in a different currency altogether!
You can also amass more money by investing it. Traditionally long term investments are always better than short term ones, since the money you put away has time on its side as well as interest rates. Even with a traditional savings account, the longer you can keep the money in there the more you will amass as a result. This is because you will start to gain interest on your interest as well as on the original amount you invested.
The ideal way forward is to gradually combine all three methods to be able to gain the maximum benefit and start earning more money from it as a result. People often tend to think that whatever amount of money or currency their regular job earns them, that's the amount they have to play with and that's that.
But it's simply not true. The key is to take the amount you get each week or month and make it stretch as far as you can by whatever legal means you can find. Many people don't do this and therefore they feel constrained by whatever amount of money they see on their pay cheque or slip.
The hardest part is to simply get started on figuring out ways to bring in more money. Once you actually get going you can turn it into a kind of game, because you will start to get your brain running in different channels and it will become more of a challenge to start increasing the amount of money you have available to you each month.
It might be that you start with a basic goal of selling some items that you no longer need. This will amass a short term amount of money which you could then invest for the long term. Once you have started along this route you will find that you start looking around for other ways to bring in more money in whatever currency you can.
When it comes to investing, think about all the different investment vehicles there are in your country. Some will be the same the whole world over – such as investing in property, earning money online, building up a savings nest egg, and so on, while others might be more local. See what is available and what is popular in your area and make sure you get as much information as you can on every possibility before deciding what to do with your money.
As you can see, when it comes to bringing in more money it is really just a matter of starting to think along the right lines. We are usually quite inhibited about how to earn money and many people feel they can only earn from a full time or part time job and nothing else counts. The reality is that it doesn't always need to be difficult to earn more money. By keeping an open mind and thinking more laterally about how to increase your earnings you will start to find you come across more opportunities and chances to make more money.
Those opportunities were always there before, but you didn't see them because you weren't thinking about earning more. By turning the worry of not earning enough into the pro-active stance of thinking about how you can earn more, you will succeed in boosting your income more quickly.