Before you ask for a raise, you should do some research on your company’s pay policies and make sure you have enough leverage to justify a raise. You should also make a list of your accomplishments, abilities, and outline your work history. This will give you objective information you can use during your conversation with your boss about a raise.
Before you ask for a raise, you should do some research on your company’s pay policies and make sure you have enough leverage to justify a raise. You should also make a list of your accomplishments, abilities, and outline your work history. This will give you objective information you can use during your conversation with your boss about a raise.
For example, you may have good driving skills and a clean driving record. You may want to consider taking up a part time driver position to supplement your income, working on weekends to drive new cars to dealerships or the drive clients around through a driver company. [3] X Research source
Starting your own business can be stressful and difficult to sustain, so you may want to retain your current job while you get your side business off the ground.
Consider investing in a rental property, preferably several multifamily units rather than one single family home. Though a rental property can be a large upfront investment, the potential income generated from this investment could be substantial. Ask a friend or business partner to invest with you in a rental property and create passive income to supplement your existing income.
When you buy a bond, you are loaning your money to the issuer, whether it’s a company or a government body, for a certain period of time. In return, you get interest on the loan, and you get the entire loan amount paid back either on a specific date (the bond’s maturity date) or a future date of the issuer’s choice. For example, if a bond is valued at $1,000, and pays 7% a year, it has an interest value of $70. You can invest in stocks and bonds by buying them individually or by buying them via a mutual fund. A mutual fund is a collection of stocks, bonds, or cash equivalents, or a mix of all three. [7] X Research source Talk to a financial advisor about the right mix of stocks and bonds for your financial portfolio. When you are young and just starting to invest, you should put money in stocks. The long term potential growth of stocks will outweigh the risks. Over time, as you get older, you should scale back on your investment in stocks. Bonds are less volatile and they are good long term investments. Over time, as you get older, increase your investment in bonds. [8] X Research source Be wary of investing in hard assets like real estate or gold. These are unstable and unpredictable assets that can be difficult to manage. [9] X Research source
Penny stocks are good for short term gains and not as long term investments. Before you invest in a company, you should investigate them online to determine if they are worth the stock purchase. You can then open an account with an online brokerage service and start purchasing and trading penny stock. To make a profit with penny stocks, you will need to keep constant tabs on your stocks to make quick trades at the highest price. Be wary of “pump and dump” stocks, which are fraudulent stocks that are pumped up to a high stock price, enticing you to invest, only to take your money and leave you with a stock that has no real value. [10] X Research source
Focus on stacking savings on top of one another to add up to a large amount of money saved. This means embracing a frugal lifestyle and not spending money when you do not need to.
Investing in a good bike means a small payment of $500-$1,000 that will provide you with free transportation for a long period of time, possibly for life. That gas money can then go towards increasing your overall income.
Make grocery shopping part of your weekly routine. Take a list of grocery items to the store to avoid expensive spontaneous purchases or buying unnecessary items.
