Is it time to upgrade your lifestyle? Of course, that usually entails more money, but where are you going to get it? Did you ever consider giving yourself a raise? The concept is not a new one. As long as working people have struggled with finances, inflation, recalcitrant bosses, and tough economic times, they have figured out how to improve their lives in spite of it all. How do you give yourself a raise? Besides the most obvious solution, getting a second job, there are always more creative solutions. They include reducing monthly expenses by refinancing student loans, earning passive income in affiliate marketing, and acquiring dividend-paying stocks. Here are more details about each tactic.
Get a Second Job
For most working adults, a second job can take many forms. Some choose to find a traditional part-time position with a local company and spend 20 hours each week toiling away to boost their bottom-line monthly income. Others take the modern route by working online for 10 hours or fewer per week. These so-called micro jobs offer versatility in terms of positions, schedules, and rates of pay. The math is in your favor if you acquire a second job as a way to boost income enough to give your finances a little breathing room. Even a simple online micro-job that pays $12 per hour can help you sock away more than $6,200 during the course of a year if you work 10 hours per week.
Tweak the Budget by Refinancing Student Loans
Getting a raise means having more money at the end of the month. In a roundabout way, anything you do to boost the amount of cash on hand is a raise. And one of the fastest ways to end each month in the black is to refinance education loans. Paying on one refinanced loan that you can combine into a single payment instead of several individual ones is more convenient and much less costly. With refi terms that allow you up to twenty years to pay, high set borrowing limits, and allow for customized terms, refinancing is a no-brainer. Borrowers can set their own monthly payment amount, choose their preferred rate type, complete the entire application in minutes, and lock in all the savings by signing the agreement online when they’re done.
Become an Affiliate Marketer
Affiliate marketing typically means setting up a website for the purpose of driving traffic to the website of a third-party seller. You get a commission on any sales made by the third party from buyers you sent. Online affiliate marketing has exploded in popularity as a way for people to earn passive income by creating high-quality websites that attract large numbers of potential buyers.
Build Passive Income with Dividend Stocks
Acquiring dividend stocks is a straightforward way to create a passive income stream. While it could take more than a year or two to amass enough shares to make a significant difference, the task is easier if you stick with blue-chip shares that have a long history of paying quarterly dividends.