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The secret to making more money doesn’t always lie in a specific career path or by paying for a college degree. Sometimes your financial woes can’t be solved simply by decreasing your spending. Regardless of your reasons, there are a multitude of ways to increase your income and reach your financial goals. Many people have had success using the below strategies to increase their wealth and stop living from paycheck to paycheck.

Capitalize on your skill set

1. Negotiate a raise at your current job.

If you’re a valued employee at your present job, then don’t be afraid to ask for a raise. This is a simple way to increase your income without adding hours or rearranging your life in a major way.

2. Apply for a new job.

The average yearly raise for any employee is only a few percent – but the average raise if you switch jobs is 10 – 20%. That’a major pay bump just for changing companies. Negotiating a starting salary is when you have the most leverage with your employers. Take advantage of their desire for your skill set!

3. Freelance or start a side-hustle utilizing your passions.

If you have a specific skill set or passion, others will pay for your work. Whether you’re a graphic designer, computer programmer, or love life coaching – start completing jobs for your own clients and bring in some extra cash. Read how this woman started a side-hustle that earned her an extra $4,000 a month!

4. Embrace your crafty side.

If you have a creative touch, embrace it! Sign up for eCommerce sites like etsy.com and sell your original creations.

5. Share your love of your locale.

If you love your city, share that love with tourists by becoming a tour guide. Use your knowledge of its history and show visitors to the best local attractions.

Make money on the side.

6. Sign up for temp work.

There are countless temp agencies in every city looking for hard-workers to fill temporary positions. This is a wonderful way to gain experience in various industries and make more money.

7. Be open to random jobs.

Websites like taskrabbit.com feature everything from mowing an elderly couple’s lawn to cleaning a busy family’s home. Keep an eye on the tasks listed and sign up for any that fit your schedule and abilities.

8. Drive for a ride share service.

Uber.com and lyft.com are taking over the taxi industry. If you own your car and don’t mind letting strangers ride in the backseat, consider driving for one of these ride share services. You can make the most money during holidays and weekends.

9. Become a pet walker or sitter.

Yet another flexible side job is pet walking or pet sitting. Put your profile on rover.com, set your prices, and make sure you love animals!

10. Get a gig in the service industry.

Working as a server or bartender has put many a college student through school. The schedule is often flexible and earnings are highest during evenings and weekends. Earn some tips during your weekend rather than spending money!

11. Babysit.

If you love children, become a babysitter. You’ll get to spend time with kids and make some extra money.

Be a guinea pig

12. Take part in a focus group.

Focus groups are used by companies to test consumer feedback in a controlled setting. Some participants report earning as much as $100 an hour for their time and opinions.

13. Become a test subject.

Earnings depend on how comprehensive the medical tests and procedures are. So as long as you’re not afraid of needles, you can participate in clinical studies and be paid for your time. Learn about current clinical trials from the U.S. National Institute of Health.

Take advantage of your spending

14. Go mystery shopping.

The benefits of mystery shopping often aren’t in the amount of money you bring home, but the fact that your entertainment or shopping expenses are reimbursed. Learn how it works here.

15. Sign up for eBates.

If you already plan to make a purchase, use eBates.com to get cash back for that purchase. Make sure to only use this site for pre-planned purchases or else you run the risk of spending more than you save!

Inventory your belongings

16. Sell valuable belongings.

Whether it be via a consignment shop, eBay, a pawn shop, or even just your own yard sale, take advantage of the wealth you have just sitting around in your home. You’ll get the advantage of making extra cash, as well as minimizing your collection of stuff.

17. Rent out your home.

If you live in a desirable destination, leverage that to rent out your home to travelers and tourists. Many homeowners have had success on vrbo.com and airbnb.com, renting either a single bedroom or their entire place to visitors.

Learn to think like a millionaire

18. Read for knowledge.

Warren Buffet estimates that 80% of his typical work day is spent reading. Instead of getting wrapped up binge-watching your favorite show on Netflix, challenge your mind by reading a book that will expand your knowledge of the world and give you the tools you need to improve your financial situation.

19. Find comfort in financial uncertainty.

While you may find comfort in familiarity, most millionaires find that same comfort in uncertainty. It’s what gives them the fortitude to take financial risk – and gain the most reward. Use that mindset to challenge yourself to take steps outside of your comfort zone and grow your wealth.

20. Invest your savings.

The average savings account only offers a measly .06% return to your account balance. Instead of letting all of your savings sit in the average bank account, learn how to invest and earn passive income through interest. It can be as simple as taking advantage of your employer’s 401k. There are plenty of resources out there to learn how to take your investing to the next level if you simply take the initiative to learn.

21. Surround yourself with the people you admire.

Think of this as the master class in networking. It’s true that your financial class tends to mirror the people you spend the most time with. Make it your goal to start surrounding yourself with the kind of success you aspire to. Learn from those people and their mentorship can help you take the next step towards financial freedom.

22. Stay hungry and stay busy.

Inertia is the basic law in physics that states an object is motion stays in motion, but an object at rest tends to stay at rest. Keep your momentum going by waking up early and filling your day with meaningful tasks that keep you moving towards your goals. Don’t take our word for it – read how waking up early has helped these people attain success.

23. Gain skills, not just a formal education.

Many of the richest people in the world don’t seem to think a higher education is critical to success. They look at the acquisition of wealth through a different lens. Their focus is on gaining specific skill sets that will help them make more money, rather than a college degree for a certain career path.

Work ethic goes further than any other skill.

Regardless of which tips you utilize to make more money, remember that your work ethic is the most important component to your success. Visualize what you want your success to look like, set attainable goals as stepping stones to that success, and use that work ethic to see you through. Let us know if we missed any smart ways to make more money in the comments below!

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