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Six ways you can increase your income this year

Money - By Esther Muchene | January 25th 2021 at 08:59:31 GMT +0300
Small tweaks can lead to even greater financial freedom in the future (Photo: Shutterstock)

Earning enough cash to comfortably enjoy life doesn't come easy. There is so much that goes into grocery shopping, bills, fuel and so many other needs to a point where you can literally be left with close to nothing a few days after getting paid.

We all dream about great financial success and early retirement but the reality is far from that.

The best way to get financially secure is to explore ways you can add some extra cash into your wallet. This can be accomplished through small tweaks that can lead to even greater financial freedom in the future.

Here is how you can start on that journey towards financial greatness this year.

  1. Take risks

Financially successful people have managed to get where they are by taking risks. If they decided to play it safe in their comfort zone, we probably would have never heard of them.

Gather the courage to take things a step further with your finances and explore areas you never thought you would like taking up a job offer in a different county or expanding your business.

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Basically, get over the fear of failing.

The only thing you need to avoid is taking unwise risks that obviously come with more disadvantages. But when you can see some success in sight, don’t be afraid to take brave chances.

  1. Monetize your talents

Everyone has a God given talent in them. Some people know what they're good at from a young age while others discover their hidden talents later in life.

Whatever it is you're good at, find ways to turn that into an income-generating opportunity. All it takes is for you to get a little creative, find ways to stand out and everything else will follow. If you're good at baking for example, create your own brand of pastries, reach out to customers around you and expand your business with time.

Find ways to turn your talents into an income-generating opportunity (Photo: Shutterstock)
  1. Increase your skills

A good option for you could be improving on your skill level or adding entirely new ones to your qualifications. This could be through taking extra lessons by watching videos that can train you on certain areas, doing more practice to perfect your skills and in many cases, going back to school to advance or study for another degree.

This is a very effective route to success because it opens you up to many more opportunities like a new job offer or a promotion at work which means more income for you.

  1. Start a side business

The world of business can give you unlimited opportunities for success. The most important step is to do enough research that will help you identify your niche as well as areas like capital requirements for the type of venture you're interested in.

Once you have everything sorted and finally launch, you'll only need to find a balance between your normal job and side hustle.

Taking an extra shift at work can earn you some extra cash (Photo: Shutterstock)
  1. Find thrifty ways to earn cash

There are so many simple ways to get rewards that many people ignore. They don’t usually offer huge amounts of cash, but you can still earn enough to top up what you already make.

You can make extra cash by doing annual sales on stuff you don’t use anymore such as electronics, take online surveys that pay you or offer services such as babysitting.

Use your creativity to find unique money-making opportunities.

  1. Take extra shifts at work

Committing yourself to what you really want requires a lot of sacrifice. When you increase your hours at work, you won’t have as much time for leisure like you're used to but it’s worth it in the end when you receive that extra cash.

Start work earlier than you usually do or extend your shifts longer than you would. As long as you're not overworking yourself and saving enough time to de-stress, you'll be good to go.

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