How much do you earn every week? What is your yearly salary? How do you think it compares to other people in this country? Did you know that the annual average UK earnings are around £33k? How does your salary stack up? If you could do with finding some extra money to settle that debt, pay off those bills, and make yourself that little bit more financially stable, let's have a look at how to increase your income.
Ask For A Pay Rise
If you love your job but it simply isn't helping you make ends meet, why not speak to your boss? If you are going to discuss a pay rise, it is a great idea to get your evidence together before the meeting and book it in as a proper one. This isn't a water cooler chat. You need to take this seriously, be prepared with reasonings as to why you deserve more money in your pay packet, and have some proper time set aside for the discussion. After this meeting, you will know where you stand. Remember though, businesses are struggling at the moment as well so your boss might not be able to increase your pay by much, if at all.
Change Roles Or Retrain
It's worth having a look at how much other roles similar to yours are paying. This can help you decide if it is worth applying for other jobs that you are suitable for. Whilst you might be happy with your current employment, there could be great opportunities and a better pay cheque if you start applying elsewhere. Of course, maybe the role you are qualifications for and experience in simply isn't cutting it for you anymore. Maybe you have reached the glass ceiling of what you can earn. Is it time to retrain which could help you earn closer to or perhaps well above those average UK earnings?
Cut Back
When you are spending more than you are earning, it is time to reassess and start finding ways to cut back. Sit down with your online banking and figure out where you are spending your money. Write it down in black and white, it can be quite an eye-opening experience. Who knew that you were spending so much at the supermarket every week? Did you even realise that those subscriptions that you barely use are adding up to three figures every month? When you know where you are spending, you can see where you can cut back.
Side Hustle Or Second Job
In order to get closer to those average UK earnings, it might be time to find a second job or start a side hustle. Many of us have skills and expertise that are needed by people on a freelance basis. This could be a great second job, using the spare time in the evenings to earn a bit of extra money. How about getting a job at the corner shop a couple of nights a week? A second job can help plug the gap between what you are spending and how much you are bringing in. It could even help you to start saving!
Those average UK earnings might seem well out of reach, but they can actually be more attainable than you think when you put your min, mix things up, and start to earn what you are worth.
