How to Increase Your Income – Fast Fixes to Add Your Fixed Salary

Of course, the flip side of the cut spending/savings is to increase your income. There are some fast fixes to add money from your fixed monthly salary. We urge you to be sure to add some targets to get some sources income. Here are just a few to consider:

• Ask your employer for a hard-earned raise. Visit www.careerjournal.com to document average wages for your line of work. Gather hard numbers to present to your employer.
• Research which employers in your area pay the most and seek a higher-paying job. Quit your job and join that company.
• Take on an additional part-time job. Consider babysitting or delivering newspapers.
• Rent out a room of your home or get a roommate to share the rent fee.
• Buy a home and rent your existing home for a positive cash flow, if possible.
• Clean out your attic and hold a garage sale.
• Consider earning extra income as a mystery shopper. Visit the Mystery Shoppers Providers Association at www.mysteryshop.org to find available assignments in your area. Beware, however, of answering blind newspaper ads for mystery shoppers. Many have been scams.
• Make certain you’re getting advantage of tax breaks possible. Military combat personnel, who aren’t filing federal income tax returns, for example, may be missing out on the valuable Earned Income Tax Credit. The tax credit, which means you get money back, is for certain people who work and have limited earned income. Visit www.irs.gov for more information.
• Check out the IRS withholding calculator at www.irs.gov to determine whether you might increase your income by taking fewer income deductions on from IRS Form W-4.
• Put all change that threatens to burst your wallet into a large container. Periodically deposit it.
• Search www.missingmoney.com to see if you inadvertently left behind any assets anywhere—perhaps in safe deposit boxes, forgotten financial accounts, or with previous employers. This website, sponsored by the National Association of Unclaimed Property Administrators, helps owners recover lost assets legally required to revert to participating states. Great news! While researching this article, we found assets belonging to at least one family member!