Learn how to enhance your earnings and discover artistic methods to earn a living
Amanda Nicholls made extra money during the pandemic by selling other families’ items online for a commission.
Source: Amanda Nicholls
When Amanda Nicholls was fired from her sales job last summer, she had to get creative.
The 34-year-old, who generated around 75% of the family’s income, sold used goods for local families on the Facebook marketplace and other websites for a commission.
“I basically turned my basement and garage into a warehouse and found customers through local mothers’ groups,” said Nicholls, who lives in Olathe, Kansas, with her husband and four children.
“”[I] I’ve already sold things for my own family, so I took it a step further. “
There is no doubt that many Americans need cash.
More from Invest in You:
Here is a 12 month roadmap to financial wellbeing
Follow these steps to shake off your fears and take control of your financial life
Can’t afford an inheritance plan? What you can do without spending a fortune
More than half of adults in the US, 53%, said the $ 600 stimulus check they receive for every adult and child in the household won’t take a full month, like a recent one from Bankrate conducted survey revealed. President Joe Biden has proposed an additional $ 1,400, but the plan has yet to come through Congress.
There are jobs out there – 82% of U.S. employers plan to hire new employees this year, according to Monster’s Future of Work report.
As the unemployment rate recovers, many are still left behind. For those in the lower half of the income curve (less than $ 27,000 a year), employment is still down 25% from pre-pandemic levels, according to Opportunity Insights.
Here’s what you can do to increase your earning potential and find new ways to make more money.
Look for “quick wins”
Selling used items like toys and clothing, and even selling them to others to reduce sales, is an example of a “quick win,” said Jamila Souffrant, creator of the financial education podcast, Journey To Launch.
Nicholls made about $ 7,000 before returning to full-time work.
Think about what interests you and what your skills are to make money fast.
Manu Vega | Moment | Getty Images
Do you like animals? Consider walking the dog or sitting with pets for friends and neighbors. If you’re good at math or another subject, you can offer tutoring or babysitting for families struggling with childcare needs.
Your presence can also be turned into a bigger sideline by creating a website, social media account or business cards and offering your services to a larger audience, emphasized Souffrant.
So she started her business. Originally a blog about her desire to gain financial independence and quit her job in commercial real estate, Journey to Launch eventually expanded into a media platform that featured the podcast. During this time, Souffrant also received certification as a finance teacher and quit her job.
Increase your income at work
If you are an hourly worker, see if there are opportunities for extra shifts.
Also, consider getting additional education certificates if your job makes more money for them, Souffrant said. Her husband Woody did it to raise his teacher’s salary. He also taught summer school and exercised in order to make more money.
Employees can try to negotiate a raise, but they must do some work first.
Research what you should be earning in terms of your skills and experience, said Vicki Salemi, career expert at Monster.
Then gather evidence of what you’ve done for the company, whether it improves sales, saves money, or increases morale. If you ask your boss to talk to you, do so through a video or phone call, not email, and make an appointment on the calendar, she said.
Practice what you want to say ahead of time and go into the meeting with topics to talk about.
Get a new job
The best way to make more money is to get a new job. Even if you received part of your requested increase from your current employer, do not feel guilty about leaving.
“You can get promoted and get that boost and still look for a job externally and go,” Salemi said.
“You are not obliged to pay this increase.”
Not only did she research your earning potential and gather evidence of your past successes, but she also built your networks and started bogus interviews with friends or family, she advised.
When conducting online job searches, gather a wide network geographically as many companies are currently hiring remote workers. Optimize your resume for each job you are applying for by using keywords from the job description and possibly rearranging the bullet points for job descriptions.
Look for jobs in industries that have a need for labor, such as logistics, healthcare, occupational health and safety, and solar and energy, Salemi said.
“You want to think about what … your transferable skills [are]”, she said.” The challenge for job seekers right now is not to be as effective as they can be at marketing themselves. “
SIGN IN: Money 101 is an 8-week financial freedom learning course delivered to your inbox weekly.
CHECK: The 5 states where $ 500,000 in retirement savings would last the longest Grow with acorns + CNBC.
Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.