Increase your income

How to increase your income?

There are several ways to increase your income. If you’re employed, negotiating your salary is the first step. But the opportunities for more income are endless, even if you have a steady job. Consider starting a side hustle (projects you can do in your spare time to earn extra money) or investing in dividend stocks.

Negotiating your salary

Think back to when you got your first job. Did you negotiate your salary, or were you just grateful for the opportunity and signed immediately?

If you chose the latter, you’re not alone. In fact, 93% of women don’t negotiate their salary. And that has significant consequences. By not negotiating your starting salary, you leave a lot of money on the table—especially if you also miss the chance to push for a serious raise during annual performance reviews, settling for just an inflation adjustment or a small perk. Or if you let salary discussions slide when you get promoted, simply because no one brings it up. As a woman, standing up for yourself and negotiating what you’re worth is crucial!

Side Hustles

Side hustles are activities, often in addition to your main job, that generate extra income. These can be a variety of activities, some passive and some more active. It’s the perfect way to supplement your primary income. Sometimes, side hustles even grow into your main source of income and can fully support you. Some side hustles, like starting a blog, take time to set up, while others can be done more quickly from home, like mystery shopping, taking surveys, or creating an online knowledge product.

Passive income

Passive income is money you earn after doing initial work, with little to no ongoing effort. Sometimes it’s short term, but in some cases, it can last a lifetime. Saying passive income requires no work at all is an oversimplification. It’s more about a process of sowing and reaping.