Three Great Methods for Generating Extra Income

It is human nature to always want more. You may have a good job and a healthy monthly income, but most of us will look at our bank account and wonder how we can boost it: how we can make £2,000 into £4,000; how we can leave a large enough surplus for our next holiday; how we can obtain enough for a deposit on a bigger house.

These are not always easy questions to answer. Working extra hours is an obvious option, but overtime can be hard to come by. Seeking a promotion or new job role is the next natural consideration, but you might have already reached the highest point you can in your current company, and enjoy your work too much to want to move elsewhere.

Luckily, these are not your only options. Here are another three that you might want to think about…

#1: Freelancing Your Skills 

Although some people may be too time short to consider this as a viable option, have you thought about freelancing your skills? A few extra hours of work in an evening, or one burst of productivity on a Sunday, will do wonders for boosting your income, and research has shown that freelancers can often charge much more highly for their skills than their office-based counterparts. 

#2: Tutoring or Teaching 

If freelancing feels like it would disrupt your work/life balance to too great a degree, why not look at the other skills you possess? Most of us have hobbies that we enjoy, and if you’re proficient in the things that you like to spend your time doing, you could offer to tutor or teach others for a fee. If you can horse ride, for example, how about offering a few riding lessons throughout the week? If you can play the piano, look for local pupils in your area. You have talents, so why not use them to increase your turnover?   

#3: Investing

Although you want to boost your income, you might not be willing to do extra work in order to increase it, and it’s perfectly reasonable to feel this way. You need time for yourself outside of your employment in order to strike a healthy balance, so something less involved may suit you better. Investing could be the answer, and companies like FxPro are ideally suited to help guide you in your new venture. Offering the opportunity for significant profits, they could make all the difference to your monthly total.

If you’re looking to maximise your turnover, could one of these options be right for you?