7 Ways To Increase Your Income in 2020

Wednesday, December 11, 2019

The new year is in sight, and one of the best ways you can plan and prepare for it is by deciding what your goals and plans are for the coming year. By doing this before the year even starts, you will get it off to the best possible start! You won’t be able to procrastinate, or have a good excuse for not getting started on your dreams. 

One think many people would like to do now and in the future, is find ways to increase their income. This may take a little work, but it’s certainly doable. Below, you’ll find 7 ways you can increase your income in 2020. Take a look:

  1. Use Cashback Sites
Using cashback sites is one of the easiest ways to increase your income - although it could really be classed as saving money. You need to give it time, but every time you make a purchase online, a small percentage will be logged in your cashback site account. Eventually, you will be able to withdraw the money in there. It may only be small amounts, but it’s worth starting now, especially when shopping for Christmas! 

  1. Open A High Interest Savings Account
A high interest savings account is a great way to make your money work harder for you. If it’s sad in any old account, it’s not going to help you accumulate more wealth. In fact, one of the best ways to make your money work harder for you is to invest in various stocks and accounts so that your money can accumulate over time. Savings depreciate and will not make you rich. Having money that automatically multiplies in the form of your investments could well make you wealthy. 

  1. Be Smart About What You Spend Money On
It isn't always about what you can make, but the money you can keep if you don’t spend it. It can be too tempting to spend money the second it lands in your account, but staying mindful of what you actually spend it on is a must. Make sure you can separate your needs from your wants, and don’t feel under pressure to spend all of your money. Keep some behind and let it build up. Of course, you may have to pay for something like if you get into trouble and there’s no other way out. This is why you should always have money in reserve, as well as an emergency fund. You just don’t know when you might need to use it! 

If you can sell some old items online, that will help you to de-clutter your home and make more money, too. See if you can get used to living a more minimalist lifestyle. 

  1. Make YouTube Videos
Youtube videos are a smart way to make money - vlogging is the new blogging! However, you need to be consistent with them. It’s also a good idea if you can make your channel fairly niche, rather than general, as this will give you more of an opportunity to build followers. You can then monetize your videos and get money using ads. If people begin to trust your opinion and judgement, you may even be able to share affiliate links that others can use to buy products you recommend and you will make a small commission. This is something you should enjoy doing, as you won’t make money overnight. However, if you’re good at it, it could be very lucrative.

  1. Create An Online Course
If you have knowledge in a certain subject, creating an online course could be a wonderful way to share that knowledge with others and make money doing it. You will only need to put the course together once, and after that, you will make money each time somebody purchases it. 

  1. Write Books
Love to write? Whether you like to write fiction or non fiction, you could make money by writing books. You could self publish or publish using Amazon - it’s the marketing that counts really, as well as making sure your books are professionally edited so that people actually want to read the rest of them. The more books you have, the more chance you have of earning money while you sleep. 

  1. Start A Podcast

Audio content is also on the rise, so right now could be a great time to start a podcast. You get to create a show based around your interests and discuss topics that you enjoy. All you need to do is purchase the basic equipment and choose a podcast hosting company to store your files and share them with all of the major platforms like iTunes, Stitcher and Spotify.

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