5 Ways Everyone Can Make More Money

by David Ning on 23 November 2010

 

If someone asks you whether you'd like to make more money, I bet most of you would say yes. The follow-up question would be "Why aren't you making plans to make more?" When a specific method to make money is mentioned, people usually make a quick decision as to whether it's feasible. Some people can quickly adapt to the method and start making money, but what if you are the type who keeps saying no? Are you actually ready to make more money? To help you figure this out, let's look at the handful of ways people are cashing in, and see if you are willing to do what it takes.

1. Start a Business

Many people find their riches from a company that they started, but opening for business doesn't always mean looking for capital from investors and trying to materialize an idea that may take years. An entrepreneur who mows his neighbor's grass runs a business, and the lady who consults on makeup for people's weddings has a business too. I started MoneyNing.com with no funding, and it's grown to an enterprise that supports multiple people. You can start small too.

2. Change Jobs

Loyalty is cherished in any company. There's no doubt about it, but there are very few success stories of a person who moved up the ranks of the corporate ladder working for only one company. For most people, the big break (in other words, the huge increase in salary) really only occurs when they change positions to a totally different company (or at least department). Do you want to make more money? Perhaps you should dust off your resume and start trying to land interviews. People are paid to contribute, and one of the best ways to improve a business is to hire someone from a totally different company who can inject fresh ideas. Who knows? You might become the star at your new job just because you adapted what you already know from your old company to the new culture.

3. Ask Your Boss

If you like sticking with the same company, then ask your boss how you can earn more. Let him know, respectfully of course, that you'd like to earn more money and see if the pair of you can work out a plan. You will want to have specific goals with a reasonable timeline so when review time comes, you can be factual about your progress.

4. Get a Second Job

Using more hours of your day to make more money is tough work, but it's probably the quickest way to earn more bucks. I would argue that you should find part-time work that can grow into a better source of income than your primary job, because when you work two jobs, the first job will usually suffer. Examples include a small business you are trying to start or a different career that you think is more promising. Either way, don't take this decision lightly and weigh the pros and cons.

5. Start Saving, and Enjoy Passive Income

Once you have amassed a small fortune, you will see the benefit of saving as your passive income grows without much intervention. Dividends, interest payments, and appreciation are mainly why so many people can seem to live without doing much work. There are ups and downs, but if you can stay the course, the long-term picture is usually pretty.
These five methods are how people generally earn more. I bet you already knew all these right? But if you always thought you wanted to make more money and haven't yet, re-read all of the above and honestly ask yourself whether you are willing to do what it takes. Are you really ready? If you are, here are 15 more specific ways to earn more