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If you have started to feel that you could probably be earning a little more, then there are always things you can do to make that a reality. No matter how impossible it might sometimes feel, the fact is that this is something that is mostly under your own control. It is all about knowing how to approach it and making the necessary changes at the right times. In this post, we are going to take a look at some of the simple ways that you can increase your takehome pay, so you can start to live a fuller life and put more money away for a rainy day.
Increase Your 401(k) Contributions
It might sound as though this doesn’t make sense, but there is actually a method to the madness here. How can increasing your 401(k) contributions actually increase the amount that you are taking home? Simple: when you increase these contributions, they are taken out prior to taxes being taken. That means that you can work it out so that you pay a little more in contributions, thus reducing the amount of your wages that are taxed, and thereby increasing your overall takehome. You will need to get the maths right to ensure you have it, but it’s a method that really does work if you know how to do it.
Get A Second Job
For many people, the simplest and most direct way to earn more money to take home is to get a second job. If you feel you are in a position to get a second job – for instance, because you have spare time and you know of something that you could easily do in that time – then you should think about this, especially if you are keen to start putting away more money. There are plenty of second job ideas to try out. You might be driving a taxi, selling a product or service online, or whatever else, but having that second job is going to mean that you are really boosting your income greatly.
Ask For A Raise
This is the one method that most people absolutely dread trying to do, and yet it is one of the most direct ways to ensure you get what you want. If you are keen to increase your takehome pay, then simply asking for a raise is going to be a great way to achieve that. You might be surprised at how often your manager is going to say yes to it, and either way it’s something you can’t really know about until you try it. So give it a go today, and see what response you get. Just make sure that you are fully prepared for the meeting, with a list of reasons why you deserve to have a raise. That will make it more likely that you will succeed.If you have started to feel that you could probably be earning a little more, then there are always things you can do to make that a reality. No matter how impossible it might sometimes feel, this is something that is mostly under your own control.Click To Tweet
Any of these are viable methods for increasing your pay, so bear them in mind if you want to earn a little more money in the coming financial year.