Boost your income

8 Great Ways to Boost Your Income in 2020

As 2019 comes to a close and we move into 2020, many people will be thinking over the Christmas holiday of ways to earn more money next year. 

There are hundreds of ways to boost your income these days. Mostly with the help of the internet, there are new and interesting ways to boost your income. 

We take a look at 8 practical and effective ways to boost your income in 2020. 

1. Give Yourself a Pay Rise

Boost your income
Image by Thanks for your Like • donations welcome from Pixabay

Boosting your income is not always about adding money, it can be about saving money too. You will be amazed at how much you can save simply by reviewing your bills, cutting out what you don’t need and finding better deals on what you do need. For example, if you pay £9.99 a month for a subscription you don’t use anymore then cancel it. If you pay £65 a month for your internet and TV provider go find a cheaper deal.  

These little changes that cut your bills by a little each month accumulate to huge savings over the year.  

2. Ask for Pay Rise

It sounds simple and it is. Sometimes when it comes to business if you don’t ask you don’t get. So many of us continue to work hard for our company but are too afraid to ask for more. You will be surprised at how many bosses are willing to pay you a little bit more if only you just asked.  

The biggest barrier to a pay rise is being too afraid or unwilling to ask. 

3. Sell Your Useless Things

Magazines
Photo by Umberto Cofini on Unsplash

Our houses are full of stuff we no longer need or use. All we need to do is spend a little bit of time to go through this stuff and go Marie Kondo on it. Does it ‘spark joy’ in our lives? Do we really need it collecting dust year after year? If not, sell it. 

You can now sell your things for free on Facebook’s Marketplace so it won’t cost you a penny to list an item. You can make a nice chunk of money by selling all the things you don’t need in your house.

4. Teach English

Many mums are looking for new ways to earn extra money whilst looking after the baby or kids. One new and well-paid way to do this is to set yourself up as an English teacher online. You can earn up to $35 an hour to teach young children in China, Vietnam or Indonesia. 

All you need to do is buy and pass a TEFL course which costs around £50. You will need to study for a short period of time but once you pass you can join an online English school such as DadaABC or Whales English. 

Hours are flexible and you won’t need to work for more than 3 hours at a time. If planned well, teaching could supplement your income quite easily or give you an income during your maternity leave. 

5. Let a House or Holiday Home

Holiday home
Photo by Alfred Lutz on Unsplash

 

A great way to boost your income is to let out a house. Whilst you will have the upfront cost of buying a house the money earned from letting it out is a great side earner. There are also opportunities to let out holiday homes which can also prove to be very financially rewarding. 

It’s never been easier to get holiday cottage mortgages meaning you can start making money from letting a new or existing holiday home in no time. 

6. Airbnb a Room

If you have plenty of space, a spare room or even a large garage you could rent that space out to someone on Airbnb. The Airbnb market is very lucrative nowadays with many people making good money from renting their space out. Some people have converted old garages or lofts into rooms specifically to rent out to travellers. 

If you’re located in one of the major cities or a place of particular interest to tourists this can be a great money maker. 

7. Freelance Online

Freelance online
Photo by Paige Cody on Unsplash

You can you turn pretty much any skill into a freelance job nowadays. Whether you have administration, PA, writing, design or even project management skills you can work remotely and earn money for your work. This can be flexible and work alongside your busy schedule. 

Join websites such as Upwork, Fiverr or Freelancer to see what is available. Depending on your skills and experience you could make a lot of money working from home. 

8. Reclaim Money

Little do you know there are tons of expenses that you can reclaim with just a little bit of research, time and energy. Anything from wearing a uniform to work, bank account fees, energy bills, supermarket vouchers, income tax, transport delays, lost assets, bank charges and council tax can all be reclaimed. 

It takes a bit of work to do but you could reclaim thousands of pounds.

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