Do you know what’s even more successful than having a successful 2019?
Is having a successful 2020!
In 2019 a lot of people had financial regrets which we will cover in the next post but how can we be wiser with our finances and make more money in 2020?
There are people that have a very low income and still spend way more money than they can afford. To these people, it doesn’t really matter how much more money they make, they will destroy it and get back to where they started.
But you are not one of these people because you’ve been following the blog for a while and you know you need to make smart decision when it comes to money.
Here are my tips for having more money in 2020.
1 – Ask for a raise / change company
We start with the easy one. Yes, asking for a higher salary is probably the fastest way you can start making more money as long as you can clearly specify how much money you want and you are able to explain why you deserve that money.
If you feel like you really are worth what you ask for and you boss still can’t pay you, maybe it’s time you start looking somewhere else. Depending on your skills, you might be able to change jobs rather quickly (use a platform like LinkedIn for that).
2 – Follow the right people on Social Media
This one might come as a surprise, but think about it for a second. We spend so much time on social media that it has an influence on us, the way we think even what we do. If you follow people that are taking pictures on a beach while wearing a very cool watch or drinking a super delicious drink with no sugar, you might buy whatever they are showing. You like how it looked like on the photo and now you want that for you. It’s marketing and consumerism, nothing more.
But if you follow people (like me) that inspire you to stick to your goals rather than keeping up with the joneses, at the end of the year you will probably making more money and spending less on things that you don’t need.
3 – Sell the stuff you don’t need
From time to time, it’s a good idea to Declutter our house and sell on Facebook Marketplace or some other platform. I believe the more organised your environment is, the more productive and creative you are, plus, you make money by selling.
4 – Be smart when buying more expensive items
Uh-oh… the fridge broke, time to get a new one. This type of extra expenses are out of our control, when it happens you need to have the cash ready to buy a replacement. But you can save a few hundreds if you look online for the best price/value solution. Some stores even offer matching prices. Be careful when buying the cheapest item because it might break much faster than a slightly pricier and at the end, cost you more.
5 – Use peer-to-peer marketplaces
Your spare room could bring you a significant amount of cash with Airbnb, but if you don’t have a spare room or just don’t like the idea there are other things you can rent out like your car, bike, power tools and much more. If you have anything sitting idle, try to find a market place for it and earn some extra cash.
6 – Negotiate your debt
If you have any kind of debt to the bank, give them a call and negotiate your payment and interest. If you have more than one credit, it might be possible to conglomerate everything in just one payment and save a lot of money in the process.
7 – Sell your skills on websites like Fiverr or Vipkid
8 – Automate your investments
If you have never invested it’s never too late to start learning. A lot of people thing you need a lot of money to start investing but that’s not true. You can start investing with as little as €10 (or any other currency). You need to find the best broker available on your country and start investing.
If you have a credit card with cash-back you can set it up to automatically reinvest. Find the best way to start investing and building wealth.
9 – Cancel your monthly subscriptions
Monthly subscriptions are ultra popular these days. We have TV series and movies on demand with Netflix, Apple TV or Disney Plus, we can have clothing, food, gadgets and so much more without ever worrying to go out shopping. It’s all great, except for the money you are loosing every month that could be put to better use. Do the math, how much would you save and how much would it be worth in a few years if you invest it.
10 – Turn your phone into a money making machine
If you have a smart phone and your are not making money with it, you don’t have a smart phone, you have a dumb phone.
How many ours you spend on social media each day? You know that you can make money with your online presence, you can sell anything, products or services!
There are a lot more things you can do to earn/save some extra cash, also check last year’s post “4 Steps To Have More Money in 2019“
Obviously there are hundreds of ways you can earn more money like pet sitting or helping someone clean the house or go shopping but you have to know what works for you.
So tell me, what are you going to do to earn more this year?
See you next time.