Smarta founder Shaa Wasmund's latest blog tackles the
question everyone's asking themselves. How can you make more money
this year?
Change your job
You may not realise it, but if you've been in the same job for a
long time, you could be accepting a lower wage than you
deserve.
Make 2012 the year you found out how much you're worth. It might
be scary to branch out of a comfort zone but a pleasant surprise
could be waiting in your earning potential.
Push for a pay rise
If you aren't going to maximise the money you make with a new
employer, ensure your current one is paying you as much as they're
willing to.
Expressing an interest in a rise can be awkward but it'll pay
off if you sell yourself properly and make your employer know you
recognise how much you are worth.
Take on freelance work
Got the time to take on more work in 2012? Then searching online
for freelance work is a good way to make money out of your own
skills.
Think about where your abilities lie and then check out websites
like elance.com to see what's available.
Market research
If committing to becoming a freelancer isn't for you, a less
profitable but more flexible option is market research.
From mystery shopping (retaileyes.co.uk) to simply answering questions
(valuedopinions.co.uk), market research is a way
to make more money that fits into your daily routine and can
actually be very interesting.
Use freelancers
Are you currently employing anyone on a full-time contract to do
work for you? Do you really need to be? If not, save yourself some
money in 2012 and take advantage of the wealth of talent out there
for whatever it is you need doing.
From writing to website development and hundreds of other roles,
elance.com offers rated and recommended freelancers looking for
work.
Renegotiate contracts
When you do need to employ someone in whatever the role may be,
make sure you're not overpaying them.
If you want to be making as much money as possible you can't be
afraid to search for a new recruit who could be more cost
effective.
Check for benefits or grants
There's a plethora of benefits and grants out there. You may not
realise you're entitled to them but you could take advantage of
small business and regional development grants, family benefits or even funds to do up your house.
You should also take a look at your council tax as many people
are currently in the wrong band. It only takes ten minutes to
change and can save you £200 a year, as well as back payments.
Pay off loans
If you're living with both savings and debt, you could save
yourself hundreds of pounds in 2012 by using one to pay off the
other.
With the exception of student loans, it's wise to pay off as
much of your debts as possible as loan interest are higher than
what you earn on savings.
Shop smartly
Brands are desperate to grab your loyalty and this offers you
the chance to make money out of your shopping. Loyalty cards can
earn you a surprising amount and taking advantage of the best
offers will give the equivalent extra cash of a 25% pay rise.
Also, you can get paid every time you shop online if you go
through cash back websites to reach the shop you're
looking for.
Savings rate
Finally, make more money in 2012 with something you should
always be aware of.
Don't just accept the savings rate you're getting with your
bank. Shop around and see what else is available, because a quick
search could make you hundreds of pounds over the year.
For more from Shaa, visit her website www.shaa.com and follow
her on twitter @shaawasmund