There is a limit to how much you can save but there is none when it comes to making money. There are a few ways to potentially do that:
- Boost your Salary
If you are a salaried worker (like what 99% of the population out there), there are 2 possible ways to increase your pay:
- Negotiating a Salary – Ask for a pay raise assuming you know that you are bringing much more value to the company
- Switching Jobs – According to a survey from this site, those who stayed in the same company often get the shorter end of the stick when it comes to a pay increase. While frequent job hopping may give you huge pay jumps in a short period of time, it may leave a black mark in your resume in the long run. Thus, it is best to exercise caution and do it within reasonable bounds.
- Start a Side Hustle
Owning a business can be a real eye opener. You will deal with issues you normally would not deal with when working for someone else.
From how to incorporate, to balancing the books, to developing a business plan and managing cash flow — there’s always something new to learn.
Moreover, it does not cost an arm and leg to start an online business in this digital age as compared to a traditional business where you need to fork out huge chunks of money for rental and labour costs etc.
And touchwood – if you should lose your job, you still have a Plan B waiting for you.
- Turn your Junk into Ka-ching $$
Look around your house for items you no longer use; chances are you may have lots of items still in good condition and able to be sold for some cash. All you need is a free account in online marketplaces such as http://www.mudah.my or https://sg.carousell.com/ and you are on your way to make some quick bucks.
On a side note, you should not be-little how much you can earn for this. As the saying goes: “One man’s trash is another man’s treasure”. Who knows if you can luck out and sell off something worth 10x the original price?!
