The amount of money we earn is almost never enough, with many of us wanting more to support with the rising cost of living, our hobbies and general luxuries we all love to enjoy. So, when it comes to how to boost our income, many look outside the box for quick and easy ways to top up their bank accounts. Whilst short term loans can provide you with some relief, other forms of small loans may be more beneficial to you, providing greater flexibility with repayment terms to ensure you don’t end up needing to pay additional interest. With that in mind, we’re taking a closer look at some of the best ways to boost income and how you too can boost income from home to benefit your finances this year.
Get A Second Job
It can be difficult to know the best way to boost income, but getting a second job, if you have the time, is ultimately one of the quickest and most effective ways of how to boost your income and fast. Perhaps you could consider picking up a few shifts at a local bar or restaurant, or instead find a part-time role that fits around your other commitments. Either way, getting a second job gives you the opportunity to earn a sum of money that will help pay your bills or an event you have coming up.
Devote Time To Saving
When you want to boost your income, few of us consider devoting greater time to saving and instead look at ways we can earn more cash. However, devoting your time to saving can help to make sure your funds are being spent where they need to be, and not unnecessarily. For example, if you regularly go out at the weekends, consider cutting back on your weekly spending habits. That may be hosting at-home dinner parties as opposed to eating out or better budgeting your weekly cash.
Sell Unused Items
There are so many resale platforms that allow you to sell your old items and clothes for cash. eBay, Vinted and Depop are just three of the most popular, providing you the chance to get money for the items sitting in your wardrobe or in storage, providing you with extra income as they sell. By selling your old items, this will benefit not only your pocket, but the individual on the receiving end of the item you are selling. It really is a win-win!
Complete Online Surveys
Completing online surveys is another quick and easy way to boost income. So easy in fact, that more people than ever have signed up to survey money-making schemes this year. Whilst completing these surveys won’t necessarily fill your pocket quickly, you could still earn up to £100 per month depending on the number of surveys you complete and the reward associated with them. With many online surveys taking minutes to complete, it’s a convenient way to earn a little cash on the side without taking up too much of your time.
Ask For A Pay Rise
If you’re serious about increasing your income and believe you should receive one, there’s nothing wrong with speaking to your employer about the possibility of increasing your wage. When asking for a pay rise, it’s also important to be specific about your achievements since your previous pay review. Capitalising on the value you have provided to the business will also help to demonstrate the lengths you have gone to achieve the points you have stated, backing your proposal.
Make Use Of Bank Switching Offers
Even though making good use of bank switching offers won’t benefit your bank balance every month, it’s a simple way to get a little extra cash for doing almost nothing at all. Banks provide different offers when you switch to them so, if you were thinking about switching banks anyway, looking at the top offers could help you make a decision. Barclays Premier, Halifax, HSBC and TSB are amongst the best bank switching offers, offering you a bonus of up to £200 plus cashback. Please note, regularly changing bank accounts will be noted on your Credit File
Rent A Space
If you want to boost income from home, renting a space in your home is a great way to make some extra cash each month. For example, if you live near a train station, you could consider renting out your driveway to those who travel to/from work by train each day. Offering your driveway at a cheaper rate compared to parking in a car park also has the added security of the car being situated in front of a house all day. If you have a spare room in your home, you could also consider renting it out as a workspace or bedroom, helping to offset the cost of your bills.
Pursue A Hobby
To boost income, you need to be serious about making a difference. Whilst many of us enjoy hobbies because they are exactly that – a hobby – have you considered turning it into a profitable activity? Though there may be some extra strings attached when pursuing a hobby as a career, it can be well worth the initial investment and time needed to lift it off the ground. It doesn’t matter what it is, just be sure to research the legalities of how you want to turn your hobby into a reliable revenue stream first.
So, there you have it! 8 ways how to boost income without necessarily having to go above and beyond the normal to earn some extra cash during times of need. If you do need an instant source of cash in a financial emergency and have a low credit score, some may seek bad credit loans to help in the short term or even debt consolidation loans to manage their existing commitments. At QuidMarket, we offer an alternative short term option that can help those needing funds fast if you are eligible.
When considering a loan to help cover an emergency or unexpected bill, be sure to look at the options available. This way you can make sure you receive the best repayment option based on your current financial circumstances.
If you feel you are struggling, or you’re looking for more financial help, please visit Money Helper for further information.