- Life & Money
- Family & Work
- Your Career
- Cathie Ericson
- Jan 03, 2018
Three Ways to Make More Money in 2018
No matter your actual New Year’s resolutions, they probably all lead to the same place: It would be really nice to have a little extra cash.
Resolving to travel more? Money would be great. Getting in shape? Those gym membership fees add up. Maybe you want to jump-start your retirement or splurge now and then without feeling a pinch.
We get it. Here are three ways to help you make more money this year.
ASK FOR A RAISE
A survey by Glassdoor found that only about 40 percent of employees negotiate their salary. So if you’re not one of those folks, resolve to start negotiating in 2018.
But before you waltz into your boss’s office, do some homework. Talk to peers in similar positions (outside your company is best) to get a sense of what they make. You can also use information from sites like Glassdoor, PayScale and SalaryExpert on what other companies pay for similar positions.
When you have the conversation, make it about the company, not you. Your manager doesn’t care that you have three kids to put through college or that your property taxes have soared. Instead, make the case for why you’re a team superstar who deserves to be compensated like one. Prepare a presentation that demonstrates your value to the company, from lucrative deals you’ve closed to ways you’ve slashed costs, taken on new tasks or hit performance metrics over the year.
FIND A NEW JOB
Feel like your current company just isn’t going to budge on the salary front? Jumping jobs is no longer the career killer that it used to be: Today, the average American changes jobs 10 to 15 times over the course of their working life. And, research has found that staying in the same job may actually cost you money.
If you’re concerned about letting your current employer know that you’re looking, you could go low-profile on LinkedIn by taking advantage of the relatively new feature called Open Candidates. While not foolproof, it’s designed to alert recruiters that you are job searching, while shielding the signal from your current employer.
TAKE ON A SIDE HUSTLE
More than 44 million Americans are making some cash on the side these days. Many side hustles today will even allow you to work on your own time and only when you want. An easy one is to drive for a ride-sharing app (assuming your car is in good shape). But virtually anything you love to do can be turned into a lucrative side gig with a little marketing and research. Whether you plan parties like Martha Stewart or can whip a closet into shape like Marie Kondo, there are likely people who would happily outsource those tasks to you. Inventory your hobbies and skills — crafting, photography, music, writing or tutoring, to name a few — and then offer them locally on a neighborhood Facebook or Nextdoor site, or more broadly on a marketplace like Etsy. Why not get paid for something you love to do anyway?
Take the next step
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