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Career & Money, Living

Different Ways to Increase Your Income

401(K) 2012 via Flickr

Even with a steady job and secure living situation, finances are a constant concern. No matter what we hope to achieve, it probably takes an investment of time and money.  Therefore, finding ways to increase your income is integral in realizing your ideal standard of living, and achieving your goals. Three specific ways to increase income include pursuing freelance opportunities, cutting costs, and becoming a donor.

Pursue Freelance Opportunities

Depending on your field, there may be freelance opportunities to take advantage of on the side. Professions in writing and design are the primary fields with freelance opportunities, though any talent can be marketed. Some individuals can even make a living through freelance work; recent statistics suggest that freelancers can even earn more than the average worker in their field.

Building a strong social media presence, creating a portfolio of your work, and knowing where you can find freelance opportunities are essential for improving your income in this fashion.

Increasing Income By Trimming Costs

Trimming costs is an excellent way to increase income and is often overlooked despite how simple it can be. Things like couponing, buying seasonal produce, or purchasing clothes from thrift shops can save you money. Consider learning about basic car maintenance and cooking; simple auto work is considerably cheaper when done at home, while frozen foods and restaurant portions are expensive compared to homemade meals. Cost cutting methods are not a direct increase to income, but they do decrease your expenditures to allow for greater spending potential.

Donations

Plasma and reproductive cells can become a secondary source of income. Plasma, in particular, is in high demand with some facilities paying twenty to fifty dollars per donation. You can earn two hundred dollars a month or more if you donate twice a week, which is the safe maximum for donors.

Sperm and egg donation is especially lucrative, with donors routinely making thousands of dollars. However, sperm and egg donation opportunities typically have complex layers of requirements and obligations just to begin the process. The screening process continues for many months, and many potential donors are disqualified, so this is not for everyone. Donation of reproductive cells should be carefully considered for other drawbacks as well; some religious institutions may consider this method as an affront to their beliefs, or offspring resulting from the donation may search for their donors. This creates moral and interpersonal concerns that can threaten an individual’s religion or their relationships.

 

These ideas are only a small sample of methods to earn more money. Getting a weekend job, selling items through eBay and Amazon, doing odd jobs, investing in stocks and so on are all viable choices to consider when trying to supplement your income. With the right mixture of imagination, dedication, and talent, your options are limitless.

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