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How to increase income without having to work more

Whether you’re looking to earn passive income or simply make some extra money, you’re not alone.  As costs continue to rise for essentials such as housing, food, gas, and transportation, it’s getting harder to save money. Many people are looking for ways to gather additional income, either to make ends meet, start a robust savings account, or fund a new adventure, purchase, or lifestyle change.

But, who has time to build wealth and reach financial goals when they’re already giving eight hours or more a day to their primary job?  

If you’re wondering how to increase income without working more, there are some potential paths you can take that you might not have considered yet.

Ask for a Raise

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Think about what you can do to increase your take-home pay. If you aren’t interested in looking for a second or third job and you don’t want to increase the work you do or the hours you work at your primary job, you can think about whether your employer would be willing to raise your salary.

Prepare to make a case for this. Companies are usually not willing to simply increase what you earn for no reason. Demonstrate your value to the company. Show them how you contribute to what they bring in and how they run their business successfully.

If you’re a good employee, you can expect your employer to consider the raise. Companies understand the value of retaining good employees. And, in the current labor market, attracting and keeping talent has become more important than ever. Be willing to talk about what you want and what you can settle for. Negotiating for more income requires a spirit of cooperation and flexibility.

Create an Online Store

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Extra income can come from things you no longer need. Have you considered selling homes, crafts, or household goods in an online store? You might be able to put together a few outfits that others would be interested in buying just by cleaning out your closet. Selling clothes and accessories online has become a fantastic way to generate more income without doing too much work.

You’ll need to take the time to clean and photograph what you’re planning to offer. You’ll need to load your listing, find a site that you want to use as a host, and manage negotiations and payments as well as shipping. That might sound like work, but it’s not exactly the same as showing up to a second job every day. You’re working your own hours, putting as much effort into it as you want, and earning money on the merchandise you’re simply selling to someone else.

Making money by selling items is an especially good idea if you are trying to downsize and eliminate the clutter and the extra things that are taking up space in your home, your closets, or your garage. Attach a fair price, be willing to let go of them when buyers are making a reasonable offer, and sell whatever you can.

This is just one example of how you can make money without putting in too much work. There’s no need to go to an office or a traditional store. Use the apps and online platforms that are available, and sell your clothes, your luxury items, your accessories, and your personal belongings that no longer serve you. The money will deliver a lot more value for you compared to the stuff.

Invest in Real Estate

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You might have heard the sage wisdom that goes something like this: “to earn money, you have to spend money.” It’s repeated just about everywhere, from business circles to social media. In order to attract money to you, it’s necessary to put a little money out there. This is how an investment works. You provide some cash up front, and then more income returns to you. Ideally, you’ll generate passive income.

Nowhere is this more possible than with real estate. Property is a tangible asset. It is subject to market forces, but it’s a great hedge against inflation and it helps you to earn extra cash without putting in a lot of working hours. You don’t have to work more when you invest in real estate; you simply have to work smart and surround yourself with professionals.

One of the best ways to build wealth without a full-time job is by investing in rental properties. Vacation homes are also a great idea, depending on the area you’re in. You can even rent out a room in your own home to earn some short-term rental income. You don’t have to rent out your entire house, just a part of it.

If you’re not sure how you can afford to buy a rental home yourself, there are a number of online courses you can take that teach you how to be a real estate investor. Spending a large amount of money upfront is not necessarily required, depending on how you structure your deal and what you expect to buy.

Maybe you’ve inherited a home. That can give you some passive income and steady rental income without you having to go out and buy an investment property. Be creative when you’re trying to decide how to earn more income through property. With interest rates rising, it may not make sense to take out a mortgage and buy a property simply because you want to earn extra money with real estate. But, you can invest in different ways and on a smaller scale.

Many investors have success joining a Real Estate Investment Trust, or a REIT. Again – there’s not just one way to do it. Think about your financial goals, evaluate where you are, and make some moves that will get you closer to owning the type of real estate that can make you more money. You might be able to do it with your own house.

Monetize a YouTube or Social Media Channel

Mastering Content Creation: How to Grow and Monetize an Online Following: (Grow your YouTube, Instagram, Twitch, Facebook, or Blog following!)

Can you entertain or educate or inform potential customers online? You may have noticed that a lot of YouTube content creators have made fortunes just by sharing videos and commentary about simple things that you would do in your normal everyday life. You can start a YouTube channel and if it’s around a passion of yours or something you love, it’s not really working more, is it? You’re engaging in something you’d do anyway, but this time you’re trying to monetize it and earn some extra income.

If you’re creative and have the technological know-how to manage video and editing equipment, this is a great way to make money. You will need to think about your audience and what they’ll expect from you. Are you teaching them how to do new things? Are you giving them educational tips on your areas of expertise? Maybe you simply want to entertain, as a comedian or a writer or a philosopher.

A YouTube channel is a great starting point, but it’s not the only platform you can use. Social media has a lot of different options, and if you have what it takes to become an influencer in some specific industry, you’re likely to earn more income.

Start a new social media account specifically for this purpose. Do as much social media marketing as you can manage, and wait for your content to catch on. It may take longer than you expect, but if you’re providing interesting contributions to the online world, you’re likely to develop a following and from that following, some extra money.

Provide a Valuable Service

Would you be interested in earning additional income with freelance writing? If you’re a creative writer with ideas, you won’t feel like you’re working when you tell your stories or put together some high-quality content for publishers, magazines, newspapers, and websites. You write already, so why not earn money on it?

When you can provide a valuable service that isn’t work but instead a passion, you have a great chance of easily increasing what you earn. For example, maybe you love animals. If you do, consider freelancing as a dog walker or a pet sitter. You can earn some extra cash and even travel a little bit if you’re willing to stay in people’s homes and take care of their furry friends while they’re out of town. This earns you more money while making new friends with dogs and cats and horses and who knows what other types of animals. Plus, you can deduct legitimate business expenses that you accrue on your taxes.

There are also ways to earn income by sharing your opinion. Several online sites invite consumers to talk about what they like and what they don’t like about specific brands, products, or services. Sometimes, you’ll be paid in cash, and other times you’ll be paid in gift cards or things that have a monetary value. This is a good way to earn more income when you don’t want to work more hours. Simply fill out surveys and provide feedback on specific products. You’ll be thanked with money or something similar.

Earn More by Spending Less

Earning more income isn’t always about doing. Sometimes, it’s about not doing.

What does that mean, exactly?

Well, you’ll have more income when you spend less. There are surely ways that you can increase your wealth by cutting out what you spend.

For example, if you have a lot of debt, every paycheck you earn probably gets divided up among the many credit card bills and loan payments you have to pay. When you eliminate that debt, you have more income because there’s an extra pool of money that you don’t have to spend right away. So, pay down your debt. Start with the debts that have the highest interest rates because those are the most expensive loans and they’re taking more of your income than anything else.

Once you’ve got a grip on the money that you owe, start thinking about where you can make changes to save more money, which ultimately gives you more income.

What kind of car insurance are you paying for? Do you need a low deductible or can you bring that up a bit in order to pay a lower premium? Are there competitors out there that may offer a lower rate but you haven’t considered them because you’ve been with the same company for so long?

When you’re trying to build wealth and attract increased income, these are the things you have to consider. Look at your health insurance as well. Are you using it all, or can you cut back on some benefits that you don’t necessarily need in order to save money on what’s taken out of your paycheck every pay period? The next time you have an open enrollment, do some price comparisons and see if there’s a way you can save some money with what you’re paying out.

Make some changes in your lifestyle so you can have more money without giving up your spare time. If you live in a city where you really don’t need a car, maybe you can sell your car. Rely on public transportation, which is a lot cheaper than gas and doesn’t require maintenance, upkeep, or car insurance. Downgrade to a smaller place if you can. This might give you an opportunity to sell your house and pocket the proceeds. Rent a place with roommates so you don’t have to foot the housing bill yourself.

Look at what you spend on groceries and food. Are you buying hundreds of dollars’ worth of groceries every week, but then going out to eat every day? Make some changes that keep more of your income in your own control. Go out to eat twice a week instead of five times a week. That’s like paying yourself to stay at home, save money, and eat what you already have.

Start a side business that’s passion-based. Think about selling items. Work out a way to get more money from your primary job. Look for low-cost ways to live. It might seem impossible to meet your financial goals and attract additional income, but it’s not. You simply have to be committed and creative. That’s how to increase income without working more.



Shawn Manaher is a former financial advisor, has founded 5 online businesses, and is a coach, speaker, podcast host, and author.

He’s been featured on Forbes, The Consults Corner on TAE Radio, The Writing Biz, What’s Your Story, and more.

He loves to share his personal finance tips and money management wisdom with others on his website, ShawnManaher.com, to help them find financial freedom.

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