Soon you will retire, or are retired already but having a tuff time making ends meet. You want to live instead of just survive. I mean you worked your whole life to prepare for this but still can’t enjoy it.
You need to boost your income, but how.
Well I have a few suggestions:
Get a part time job
It is one way to get instant income. Any part time job is good. Look at me for example, I’m a teacher and I got a part time job at a corner store on weekends at night. An extra 140$ a week. It ads up after a while. You can do what you want with that extra money, you can spend it or save it. Me I opted to pay my bills, which will result after a while in major savings. No credit card bills to pay means I can invest 100% of my extra cash for a better retirement.
Ask for overtime if possible:
Many of you work jobs that are paid by the hour. Ask your boss to work extra. Often you will be surprise of their answer. I know what you will say; taxes will take it all. Well that is not entirely true. Sure a good portion will go to it but you will still end up with extra cash.
Ask for a pay increase:
Asking for a salary increase is often the hardest thing to do. Many of us don’t want to ask because we are affraid of the answer. I always say: what have you got to lose. But in many cases if you present to your boss many arguments why you think you deserve an increase, he or she will agree or will tell you what you need to do to get it. In both cases you are ahead.
After you have the increase invest it for later. Remember you are doing this to increase your income for later. If you spend it now, your are not getting ahead.
Make money with your skills:
If you are a hands on type of a person. Let people know that you can fix stuff. I am always amazed when I speak to people and tell them that I change my brakes on my car, or fix the microwave. You see I am a curious type of a guy and I don’t like to not know about something. So I learn about it and fix it if I can.
People are willing to give it a try if they will save some money. Let your friends know and you will see word will get around in no time. Don’t be afraid.
Rent space in your home or garage:
If you have a big home and are alone in it, why not get a roommate or rent to students. I remember a few years back, I moved out west to teach and was looking for a place to stay until a settle there and my fiancé, now wife of almost thirty years, joins me. I rented a room with a eighty five years old lady. She was the best. She liked taking care of someone. She cooked for me, even would prepare my lunch if I aloud it.
I’m not saying to go that far. But the point is that she needed some extra cash and had space available.
Your garage is an other place. Many people live in the city and have very little room to spare. Many of them need room to store boxes, car or a trailer. You can rent that space if you don’t use it.
Start a business from home:
The last one I can suggest it to start a business from home. It is not as complicated as you might think. Check with your local regulations, but most places will allow you to have a small business from home. All you need is an idea. You can let people benefit from your experience, if you want you take a course to fill out income tax paper as an example. Many people don’t like to fill out that stuff or don’t understand it. You can charge a small fee and it will help at the end of the month.
If you have a lot of time on your hands and are willing to learn. You can try the web. Many people are benefiting from that world. All you need is an idea like I said earlier. If you want to look at a starting place I can suggest this community, Wealthy Affiliate . It is free to start.
As my site progress I will add many more ideas and suggestions.
Feel free to let me know if you have any ideas or experiences you would like to share with me. I’m always looking forward to hear from you.
Founder of : How to supplement your retirement income