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Home Personal Development How to Augment Your Income During the Financial Crisis

How to Augment Your Income During the Financial Crisis

We all know how bad the economy is right now; people everywhere are losing their jobs and many are even losing their homes to foreclosure, but this doesn't have to happen to you. You can boost your income and protect your family during the financial crisis!

Go Above & Beyond
One way to protect your job is to bring more value than what you're being paid. In other words, help the company make more money than what they're spending on you. When your boss recognizes the value you're bringing to the company, it will decrease the chances of losing your job.
Here are some ideas of boosting your value:
1.    Save the business money. Find ways to cut expenses and eliminate wasted time and resources. Chances are, you can lower the company's costs significantly with just a little research.
2.    Work more efficiently at your job. Make full use of the tools available to you so you can increase your productivity. For example, create templates and step-by-step instructions to follow, that way repetitive work is systemized.
3.    Help your company become paperless. In this age of technology, just about everything can be done electronically. Since most companies have computers and scanners, utilize them to their fullest. Also, by reading emails on the screen, instead of printing them out, you will cut the company's use of paper drastically.
  • Think of other ways you can help your company cut down on the amount of paper it uses and introduce them to your boss or CEO. By taking this initiative, you're showing just how indispensable you are.
4.    Help market your company to the world. The use of social media is fast becoming the leading way to market a business. Social networking can be done from home and in your spare time.
  • Be sure to let your boss know that you're doing this, not only to get their permission, but because doing so increases your value to the company and shows that you're a valuable member of the team.
  • Get active on popular social networking sites like Twitter and Facebook. Set up a Twitter account to connect with thousands of people that need your products or services. You can also offer a "deal of the day" coupon code for Twitter or Facebook users.
You can use your skills and talents to expand your income in other ways:
  • If you're a teacher, offer evening tutoring services.
  • If you know a lot about a specific subject area, start a consulting business.
  • If you're an artist or make crafts or jewelry, sell them on eBay or Etsy.
  • If you love to write, sell your article writing services to online businesses.
  • Start an online business from home. There are a thousand ways to make money online, using the skills you already have. Do a search using the terms "how to start an online business from home." The results will bring up tons of tutorials and guidelines.
  • If you have stuff lying around your house, cluttering up your countertops, bookshelves and closets, sort through it and sell it on eBay. You'll be surprised at what people will pay for something you consider junk or useless.
These are just a few ideas to get you thinking about how you can increase your income during these tough financial times.
As you begin to brainstorm ways to put more money in your pocket, you'll soon see how simple it can be to add an extra few hundred dollars - or more - to your income every month. You may even find that you have skills that you didn't know you had in the first place, which can lead you in a whole different direction in your life or career.
You don't have to let the economy take control of your life. With a little effort and some brainstorming, you'll find ways to supplement your income and overcome this financial crisis we're in.
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