Despite South Africa being ranked among the most hard-working nations globally, many citizens fail to achieve their monthly financial goals. Although the average South African citizen receives around R23,982 per month, many still find it hard to make ends meet and suffer economic anxiety. Whether they’re saving for a significant purchase, trying to create a nest egg, or just attempting to get through life, increasing their income is the best way to avoid financial hardship.
Not only can boosting your income help to ease financial anxiety, but it can also help people achieve their savings goals and improve their overall quality of life. Plus, with more and more people worldwide looking to enhance their monthly yield, various means of doing so are lucrative and enjoyable.
From more traditional means of enhancing your income like asking for a pay rise or looking for a better paying job to less conventional means like starting a side gig, there are many options for individuals looking to boost their income. So how do you make this happen? Below we list several easy ways that individuals can boost their income to get started on the path to financial freedom today:
Ask Your Employer For A Pay Rise
When you start thinking about boosting your income, one of the first things to enter your head is asking for a pay rise. Yet a shocking 46% of employees have never had a conversation with their employer about increasing their salary, despite 54% feeling as though they’re underpaid.
Typically, this conversation is skirted around as many individuals are reluctant to bring it up because they fear rejection or the discomfort of broaching the subject; however, those who don’t ask don’t receive, so it’s essential to put aside any doubts and broach the matter with your boss.
Have you recently taken on more responsibility at work? Or have you not received a pay increase in a while? In that case, you could be eligible for a pay rise – just ensure that you enter the meeting prepared with examples of why you deserve this reward.
Some of the best ways to prepare yourself for this conversation are as follows:
- Collect all the positive praise you’ve received since your last performance review.
- Nothing speaks louder than data or facts, so collate any relevant data or figures that prove your role in benefiting the company.
- Think about what you are worth to the company and what you can expect to bring to it in the coming year and beyond.
- Ask yourself why your manager would want to give you a pay rise and whether the time of year will affect the meeting outcome.
However, just because you ask for a pay raise doesn’t necessarily mean you’ll be successful in getting one. So don’t be disheartened if the meeting outcome isn’t what you expected. Sometimes the result of a pay rise meeting isn’t necessarily a reflection of your abilities, it could be declined because the business doesn’t have enough budget for pay rises or the business trading performance doesn’t allow any additional costs at the time.
Instead, take the rejection in your stride and ask how you could work towards this pay rise and schedule a performance review in a couple of months to see if you are making progress toward these goals.
Start A Side Gig
Over the last several years, it has become increasingly popular for individuals looking to boost their income to start side gigs, also known as a side hustle. In short, a side gig is a piece of work or a job that someone takes on in addition to their regular job to make more money.
Due to their popularity, there is now a vast array of side gigs that individuals can get involved in that can even align with their interests and talents. For instance, if you consider yourself to be someone who flourishes in a social environment, you might consider becoming a rideshare driver or getting a job at one of the local bars.
On the other hand, if you consider yourself quite introverted, you could consider taking up a side gig that allows you to work from the comfort of your home, such as filling out online surveys or playing video games online.
The latter is one of the most popular ways to make additional income while working from home since it is relatively easy to start, has no requirements to begin, and there are a variety of gaming categories for users to choose from.
Some popular paid game categories are strategy games, puzzle games, trivia games, and online casino games, with one in ten South African citizens engaging in online gambling games as entertainment. Online casino games are top-rated as they offer bonuses without requirements, various games, and many more benefits for players.
If you’d like to gain more information about playing online casino games as a side gig and the benefits of doing so, consider looking at the website of leading providers such as Jackpot Casino. On their website, you can get bonuses without requirements, view a selection of casino games, read the latest gambling news/advice and much more. Head to their website and start taking advantage of their bonuses without requirements today.
Sell Or Donate Unwanted Belongings
Another way you can boost your income is by going through your belongings and selling or donating unwanted items as an additional source of cash. Start by going through each room of your property and sorting things into piles to keep, sell, or donate – you’d be surprised at how much clutter your home can accumulate over the years and how cathartic going through it all can be.
Ensure you are ruthless while going through all your belongings to make the most monetary gain possible. Once you’ve determined which items you will be keeping, donating, and selling, you can start deciding which sites to begin listing them on. Nowadays, there is a range of online marketplaces for people to sell their unwanted belongings, such as Facebook Marketplace, eBay, Craigslist, and many more.
Additionally, for well-worn items that won’t fetch much monetary value, you could consider donating them to local charity shops, hospices, consignment stores, or friends and family members that could give them a second lease of life.
Look For A Better Paying Job
On average, it is estimated that South African citizens will change jobs five to seven times in their lifetime. There are several reasons why individuals seek a new career, from seeking more flexibility to identifying more exciting opportunities elsewhere; however, one of the primary motivators is better pay.
If you find yourself in this position like many South African citizens, before starting your job search, ensure that you update your resume with any relevant work experience or skill sets. Upload it to any employment-related online services like LinkedIn to start getting attention from potential employers.
Additionally, before uploading your resume to these websites, don’t be afraid to look for opportunities within your current organisation and let management know that you’re open to growth opportunities. You may find that your current employers are willing to make you an offer to avoid losing you or are eager to give you a pay rise in your current role to prevent you from looking elsewhere.