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How To Increase Your Income Each Year

By Charles Hopkins Published 09/19/2006 | Entrepreneur

You work hard and yet you never seem to have enough money to satisfy your needs or those of your growing family. How are you going to change that?  You really want to see your income increasing but it seems to be sitting at the same place it has for the last few years. What can you do about that?  The first thing to do is ask your boss for an evaluation of the job you have been doing. If its a good evaluation, the boss has no complaints, they seem to be satisfied with your work, then immediately ask for a raise. In those circumstances ,it should be hard to turn you down. Then take that good job evaluation and use it to find yourself a better, higher paying position.

Many people find that the best way to increase their incomes regularly is to move from job to job every couple of years. Each time you can expect to start at a somewhat higher rate of pay. The only problem with this is employers may see the pattern in your resume and not want to hire someone who is not planning on sticking around.

Depending on what you do for a living you may decide to do a little moonlighting to increase the money you are bringing in. Working a second job will easily increase your income. For example, if you are a bookkeeper who works hard for a company during the day, you may take a couple of private clients on who you work for over the weekend or during an evening or two during the week.  This will increase your income nicely without adding too many hours.

There are also many jobs that you can do from home on your off hours that can help to increase the money you make. Stay away from get rich quick schemes that charge you a fee to join something or to get lists of jobs. But there are many sites with surveys, freelance work or other jobs that can add to your income if you are willing to commit a few hours a night to them. For some its a better option then having to work two jobs and never have the time to be home with their families. 

Careful investments can also be a way to bring you more money. If instead of investing to save you are investing to increase the money you have then taking a few chances on the stock market could increase your income. This can be risky; you can lose as much as you gain. But with a little luck and a few good stocks, you may be able to not only make dividends, but also when the stocks go up sell for a tidy profit. Then use your profit to reinvest and watch as your yearly income grows.

If your goal is to up your yearly income on a regular basis you may find that a combination of things is what youll require. There are no easy answers to making money or everyone would be doing it and no one would have money worries ever again. Unfortunately, life isnt like that and aiming for a yearly increase in income  means a lot of hard work, good luck and persistence.