Thursday 23 August 2018

Making More Money For Your Family The Smart Way

If you want to make more money for your family so you can improve your quality of life, you’ve come to read the right post. It’s important to remember that many people associate earning money with working hard, and while that can be true sometimes, this post is about working smarter, not harder, it's about making small changes that can help you in the long run.

Credit: Pixabay.
You don’t want to swap too much more of your time for money if you’re already working, as this will mean spending less time with the people you love. Would it be worth it? Probably not! With this in mind, read on for ways you can make more money for your family the smart way.

Ask For A Pay Rise
The first and most simple thing you can do is ask for a pay rise at work. If you’ve been working hard there for a while, it could be time to arrange a meeting with your boss and prepare a compelling presentation to get more money. You will need to prove that you deserve a pay rise, and there’s no guarantee that you’ll get one right away. You may have to go away and work on a few things before your boss will consider it. Of course, some places, like supermarkets, are less inclined to give employees pay rises as they prefer to pay the minimum wage. If this is the case, you may want to look for a role with better pay.

Use Cashback Sites
Cashback sites are an awesome way to make money back on things that you were going to buy anyway. Whether you’re buying clothes or an electrical item, you can make a percentage of the money back. You’ll need to wait a few weeks for the cashback to be confirmed, and then it has to be paid into your account. It’s a waiting game, but at the end of the year, you can have a decent chunk of money in there.

Always Look For Discount Codes And Vouchers
Before buying anything, always look for discount codes and vouchers so that you get the best price. There are even apps, like Honey, that will instantly check all of the discount codes online for you to ensure you’re getting the best price. Bear in mind that when using a cashback site, you may forfeit some of your cashback if you use a discount code not listed on there.

Build Up Loyalty Points
There are many stores that offer loyalty points and cards so that you can get things for free, as well as great deals. Collect cards for the stores you shop at most and use them whenever you buy anything as it can all add up! My favourite store loyalty/membership cards are Boots, Morrisons, Tesco's, Sainsburys and Nando's.

Start Investing As Soon As Possible
Investing may seem like a foreign idea to you, but it’s one of the only true ways to build wealth and set your family up for the future. If you don’t understand it, don’t panic. There are apps that can round off your purchases and invest the small amount of money left over, as well as robo advisors that can help you to make better decisions. When you feel more confident, you can look into things like new launch property investing. One thing’s for sure, the sooner you start the better thanks to the magic of compounding!

Use Your Car To Advertise
If you drive a decent amount most days, you could sign up to turn your car into a moving advertisement. Depending on how often you drive and where, a company may pay you to advertise their brand. They will come out, apply shrink wrap to your car (which does not damage the paintwork), and will remove it when their campaign is over. You’ll usually be paid within a month.

Reassess Your Utility Suppliers
If you’ve been with the same utility suppliers for a while, it could be time to reassess them and see if you could be getting a better deal. Use comparison sites and make sure you look at doing this yearly to enjoy the best prices. It’s easy to swap if you find a better deal, and usually, the company will do most of it for you. You may not believe that this would save you much, but actually changing energy suppliers can save you on average a few hundred pounds a year!

Make Smart Swaps
When shopping, make smart swaps. For example, can you buy something second hand rather than new? Could you buy a supermarket brand product rather than a name brand product? There are often very few differences and you’ll save money over time! 

Oh, and remember never to go shopping when you’re hungry. It will affect how much you buy, and science proves it.

Look Into Passive Income Streams
If you really want to make more money, and you’re willing to put a little time and effort in to get a venture started, then you can look into passive income streams. There are lots of free resources online that can help you with this. Here’s an idea of what you can look at doing:
  • Drop Shipping - dropshipping is researching and picking a popular product, before branding it and then marketing it. In many cases, you don’t come into contact with the product and it is delivered straight to an Amazon warehouse to be purchased. Many people sell the same products, which is why high quality items, great customer service, and a strong brand is a must.
  • Making video content - video content can be uploaded to YouTube for free, and you can monetize your videos so that you make money when people click on ads. It can be a slow start, but if you take the time to build up your channel, you can make a decent amount of money.
  • Writing an Ebook - if you have knowledge on a specific subject, consider writing an Ebook. Ebooks are great, you don’t even have to use your real name, and you can write multiple to continue earning money as you sleep.
  • Becoming an affiliate - using affiliate links to advertise products you trust is a great way to earn more money. You can use them in conjunction with your video content, or even a blog.

I hope you've found this post helpful, I'd love to know how you make more money for your family if anyone has any tips to share?


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