Many ofus will have the same focus when it comes to the new year ahead, and that will be your finances. After a bit of indulging over the festive period, you may start to dread the credit card bills, or wonder if there is any way you can increase what you have left every month instead of counting down the days until your next pay day. So how do you do it? Here are some suggestions on how you can increase your disposable income and make 2019 the best year yet when it comes to your finances.
Look at your current budgets and make some changes
One of the first things that you could consider doing would be to look at your current budgets and outgoings. Make a note of every outgoing and then look to see if there are any ways that you can reduce them moving forward. You may find that switching providers for things like energy and insurance policies could help you to make a saving each month. You might also want to look at the spending you have control over. The food shop, for example, can be significantly reduced simply by meal planning or writing lists of the things that you need. This alone could increase your disposable income.
Consider stocks and shares
Not everyone likes the idea of trading or dabbling in the stocks and shares market, but it can actually be very lucrative and is something that you can do from home in your spare time. If you use software and trading platforms, like MetaTrader 4, then you could find that it is much easier to understand than trying to work out the algorithms and predictions yourself. It is worth remembering that it is never a guarantee, so you may want to start of small and build this one up slowly.
Trying online side hustles
The online world is now full of ways to make extra money and there are so many ways that you can do it. Simple searching them out will bring you a whole list of results of websites and options to try. Some of the best options include performing online surveys. They can be a great money maker over time, and they are so simple and easy to use. It can be a great way to make some extra money from your phone or laptop, even while you are watching TV in the evening.
Perform mystery shops
Mystery shops are another way that you can make some extra cash in your spare time. Many websites advertise mystery shopping assignments, and then have you perform them. Not only do you get a. Fee for your time, but you also get money towards purchases and even free meals.
Use social media
Social media can actually be a great way to make some extra money. If you have a following, or are prepared to build up a following over time, then you can start to earn some money through advertising collaborations. There are some great articles online to help you get started with this, and it can be very profitable. Many people just use social media to make some extra money, but you can also look at combining it with an online blog. Which brings me on to my next point.
Create a blog
A blog can be a great way to build up an income. Starting a website and then using it to share your passions as well as working with brands can be a great way to build up your income. Many people start blogs, and they can workout really well. Some people have even been fortunate enough to leave their jobs and have their blogs be a business. There are so many different articles online that will help you get started, and it could be one of the best decisions that you make.
Turn a hobby into a money opportunity
Finally, do you have a hobby that you could turn into a money maker? Perhaps you like to bake and have a flare for making beautiful creations. Or maybe you are excellent at organising so wedding or party planning is your thing. It could be that you like the idea of doing something you enjoy and potentially making it a job in the future. If this sounds like you then research into making a business from home would be the best option to consider.
Let’s hope that this has given you something to think about when it comes to increasing your disposable income in the new year.