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Saving money is a crucial skill. Here are some tips on how to increase your salary by making a few subtle changes.

Ways to increase your salary

The classic situation is that the salary is not enough to cover all the expenses. Sounds familiar? We will not talk about relatively complex instruments such as stocks, mutual funds, and bonds. Only the simplest and most accessible ideas laying on the surface, but for some reason, many do not think about them.

So, how to increase your income?

1. Sell Unnecessary Things

Do not think that this is a penny. Yes, this is a one-time income, but sometimes it can reach quite impressive amounts. A technique that stands idle, a second car that you use once a week (it’s easier and cheaper to use a taxi), old books that you don’t read and which may include rare second-hand books, jewelry that you don’t wear. Do not shy away from small things — sell and distribute clothes, children’s toys, household little things that you no longer need. In addition to extra income, it will simply become easier for you to live and there will be a lot of space for fresh ideas.

2. Cash Stash

If you have a relatively large amount that you, for some reason, keep in cash, it may be time to open a deposit and start earning interest. If the amount is large, then think about how to invest it in real estate: buy a studio apartment and start renting it out.

3. Idle Property

If you own real estate (a second apartment, a room, a summer residence, a garage, etc.) and for some irrational reason it is not used (“I don’t want any strangers to live in my country house, which I visit once a year” ), stop brainwashing yourself with nonsense — rent out your property and do not lose large sums of money every year!

4. New Job or Promotion

We recommend that you always be aware of what is happening in your professional market: monitor vacancies, compare your salary with the market average, find out what skills can affect your income level. If, with an assessment of the situation, you realize that you are clearly on the average or below the salary level, negotiate with your employer for a raise. If they are not ready to pay more — feel free to leave.

5. Car

Turn your car into a moneymaker. You can earn money as a taxi driver at a time convenient for you. You can rent your car to taxi services. And you can also use cars as an advertising medium.

6. The Apartment You Live in

Rent out part of your apartment, for example, one of the rooms, to tourists for daily rent. In addition to material interest, remember that communicating with people from different countries is intellectually and culturally enriching.

7. Your Abilities and Knowledge

Think about what you do or know better than the rest. And then look for ideas among friends and on the Internet, how it can be monetized. This can be a part-time job related to teaching, photography, design, translation, tourism, working with texts, computer assistance, plumbing services, etc.

Or you can get new knowledge on the Forextime blog and find out about Forex trading in Nigeria. Create a Forex trading demo account and try new techniques there! Check your knowledge and intuition and start earning more.

8. Take What You Owe From the State

Do not be lazy to receive tax deductions: for the purchase of the real estate, for education, for expensive medical treatment, etc. Find out which child benefits you are entitled to. Take from the state everything that it is ready to give you by law.

9. “The Dollar Saved Is the Dollar Earned”

Let’s say that none of the above methods works for you: no car, no real estate, no savings, no free time. You may not be able to change jobs or get promoted right now. What to do? Save. Think of it as additional income too. Take on the savings wisely and passionately. Just try it and see the outcomes.

10. Use Your Free Time

And, finally, about something more global. Don’t forget that time is our most valuable resource. You can simply waste it, or you can use it to your advantage. If you have extra time, try to make use of it — learn, master new skills, gain experience. In short, increase your market value and future earnings. It will definitely help you in the long run.

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