Increasing Income to Create More Money in the New Year

Today might be a good day to think about increasing income. Everyone can use extra money to pay bills. You might even think about earning extra cash for this past year’s holiday spending!

When you have more money in your pocket, you will be able to save more money by laying out a concise plan for expenses. Huge credit card debts can take months to pay off and look scary when you receive them in the mail. This becomes especially true during an economic downturn.

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There are lots of different ways to earn extra cash all throughout the year. Just because you weren’t prepared this year, doesn’t mean you shouldn’t prepare for next year.

As many large companies go under and fold, they will be selling off huge amounts of inventory and offering deep discounts. You can get really good deals if you have the money to buy goods as retailers sell them off.

Start increasing income now - even if you don’t celebrate Christmas or other religious holidays, you can put some money aside! Everyone needs to plan for and think about retirement!

Tips for Increasing Income

Side Jobs

You can start increasing income by simply offering to do a specialized service for a lower price than competitors. Side jobs can be anything you have knowledge about, from power washing to internet business. Print out some business cards or flyers and hand them out or leave them at the front desk of a friend’s office.

For example, let’s say you own a pressure washer. You have printed out some flyers that offer a $10 discount for people living in your neighborhood. Then go for a ride. Notice any houses that could use a clean up? Be sure to leave them a flyer! If the person is home, this might be the perfect time to sell your service to them. When someone calls, simply offer your service for $10 less than someone who advertises in the phone book. You’ll still be paid well and make some extra bucks! If you’ve pressure washed a deck, be sure to point out how drying the treatment is! Offer to paint their deck with a wood treatment for even more money!

Ask for a Raise

People are often scairdy-cats when it comes to asking for things, yet what harm can come from it? As my mom used to say, the worst that can happen is that you’ll be told ‘no’. If you do get turned down, it would be a great opportunity to ask why you don’t deserve a raise. Your boss might give you some insight or a list of things to work on so the next time you ask, he/she won’t say no.

The best day of the week to ask for a raise, according to online research, is Thursday. Mondays are no good, Tuesday is a continuum of Monday, Wednesday is hump day and usually very busy, and Friday is a day when everyone is thinking about their weekend. Thursday wins the day by a simple process of elimination!

Set up an appointment with your boss, prepare your selling points, and see what happens. What you may not understand, is that it's just as difficult for an employer to say no to you, as it is for you to ask in the first place. Getting a raise is a great way to begin increasing income.

Get Cash for Spending

Cashback credit cards pay you back a proportion of what you spend each time you use them. Pay off that credit card in full each month so there's no interest charged. That way you'll only earn money instead. Just use the card for normal credit card expenditures and you'll make money.

Look for cards with a low or no annual fee, and make sure the items you plan to buy qualify for rebates. If you already have credit cards, call the company and ask for cash back rewards card. Many companies will make that happen, especially in a bad economy. For this strategy to work though, you must pay off the bill in full before the due date. Many times, cash back cards charge a higher interest rate, so carrying a balance for even just a month or two could quickly make the cash back offer disappear. You won't be increasing income at all if you don't pay it off!

How much can you get back? The top cash back cards pay up to 4 percent for a short period and then change to a standard 1 percent after that. So if you spend $5000/year, you can make up to $200, just by paying with a credit card.

Earn More Money on Savings

If you've got savings, make sure they're working by increasing income. Many people leave their savings in bank accounts where the money is actually shrinking. Many bank accounts pay less than 0.1 percent anymore. Best suggestion is to find another bank (or get another account within your bank), that offers better interest! They’re out there. You just have to look!

Pay off Debt ASAP

Many people try and save money while they're in debt. This is the wrong way to approach it. You are simply throwing money away, even if the debt is a mortgage. The amount of interest you pay to borrow is much more than you earn on your savings, so pay debts off with your savings instead.

Get Paid for Photos

If you have a talent for taking photos, you can turn them into cash and start increasing income just for the effort. Many people, including myself, pay for photos for their web site. All you have to do is simply set up an account and upload your digital photos to a photo hosting website. You will earn royalties for each one sold. There is a small fee that most hosting sites collect, but with enough sales, you could earn a respectable monthly income. However, if you take particularly beautiful shots, you could make really good money.

The site I've used successfully for years is

Affiliate Yourself

Make this year the year to get organized. If you run any kind of website, commercial or personal, you can add affiliate links to it and get paid each time somebody buys something from you or you refer them to a service. Most of them are free to join, you just have to promote them. If you’ve already got a site, why not try some of the major retailers to earn more money.

Of course, if you want to generate a substantial income, you'll need a high level of site traffic, and this can be difficult to achieve, unless you create a niche.

Grab Grants

There are grants galore available if you know where to look. You can fix up your home, go back to school, or get business help. A grant is money, or a voucher for money, that helps you pay for the cost of something you buy. Although grants may not cover the full cost of something, meaning you’ll have to cough up the rest yourself, it is almost always completely free to apply for one. Grants are usually offered to encourage people to do or buy something they wouldn’t normally consider.

Most grants tend to be for specific suppliers, which can mean even after the grant, it isn’t necessarily the cheapest place so always check if you can get grants cheaper somewhere else. There are a number of grant search engines where you can find out exactly what money you’re eligible for. Find them here. If you're into grant writing, you can always learn to write your own grant. Start applying for grants and increasing income now!

Crafts and Hobbies

If you are a hobby or craft buff, try selling your jewelry, quilts, artwork, photos. There are many sites which are designed exclusively for buying and selling homemade goods. Selling anything homemade during a tough economy will help you by increasing income.

How much? Potentially $100’s, depending on your spare time, artistic ability, and your ability to sell yourself.


If you like the idea of watching TV and eating someone else's food while the kids sleep, you might be the perfect candidate for babysitting. It isn’t hard, but children can be unruly at times, so you’ll have to be able to deal with them diplomatically. You'll need a proven track record with children, (possibly your own!), and a few good references. A good way to start increasing income is to work for your friends, family, or neighbors first. You can always apply FREE to and find all sorts of jobs where you care for children, the disabled, or elderly folks.

Pet/House Sitting

House sitting or pet sitting is easy to do! Start increasing income by maintaining a house or watching over pets or plants. Obviously, you need to have no other commitments to worry about. It’ll be easiest to sign up with an agency, so be prepared to provide references and expect a thorough check of your background, including any criminal records. After all, would you be happy to leave your home in the hands of a stranger?

Terms & conditions vary from company to company. Some will expect you to be available all the time while other's offer work on a more casual basis. You can find an extensive list by just doing a google search.

Grocery Clerk

Many grocery chains look for part time help. Work weekend shifts at your local supermarket and some pay double on Sundays or federal holidays. The general rule of thumb? The higher upscale the grocery store, the more you’ll be paid!

Holiday Income

Need to pick up some extra work? Retailers begin hiring extra employees for the holiday season in late October and early November. Of course there are other holidays throughout the year, that retailers need extra helpers, so check into them too! Even if you can work only nights or weekends, you'll begin increasing income and be able to save more. Your employee discounts can also help reduce your spending, if you buy from the store you are employed. You might also try for a list of jobs in your zip code. You'll get tons of great ideas!

Party planning

It's possible to make cash by hosting parties. These are done by demonstrating items that you are given to sell for a company. Avon and Tupperware offer huge incentives and are great businesses to do ‘on the side’. Their products are known world wide, so you've got name brand trust built in! You’ll be self-employed and able to make your own hours and work as much or as little as you want. If you need to start increasing income, you'll need to work more, not less though! Before starting though, be sure to check whether there's already a popular representative of the company in your area. If so, it's probably best to sell something else.

Monitor exams

During exam periods in secondary schools, colleges and universities, there's always a shortage of people to help monitor exams. Inquire with local schools or colleges and temp agencies. You can earn a fair amount of income for a couple of hours of work.

Seasonal Work

To find seasonal work, visit stores where you plan on holiday shopping and ask if they're hiring seasonal workers. You can also check out seasonal openings on

Seasonal work includes a wide variety of stores. You'll find plenty of jobs in businesses that deal with the holiday rush, such as caterers, restaurants, shipping companies, event planners, etc., that need help packing and shipping all those extra orders. It's also a great way to test-drive a job you may want to keep after the holidays.

Finally, you could make good money working overtime at your own company, especially if you're willing to work Christmas or Thanksgiving Day. These shifts often pay double or even triple time. Working overtime jump starts increasing income!

Pay Yourself

Most people get paid, then spend it all on bills and groceries. They save little money for a rainy day! If you set aside just a little money every week, you can save money for year end bills or holiday gifts. Just 10 percent per paycheck can add up quickly! Even saving as little as $5/week can add up to $260/year!

You'll end up with even more cash if you earn interest on the money you save! Several money market funds or online banks, offer rates of around 4 percent per year, as well as giving you easy access to your money. Shop around to get better savings!

Withholding Taxes

Increasing income is easy if you want extra money to spend during the year. Simply adjust your withholding tax! If you get a big tax refund every year, what you might not understand is that Uncle Sam is earning income on your money! Did you know that? The money you don't take earns interest until you're paid. You are actually giving Uncle Sam money by withholding taxes for a bigger payout. It might feel nice to get that check in the mail, but with the bad economy, the cash sure comes in handy monthly, instead of yearly.

To adjust your withholding taxes, fill out a new W-4 form and submit it to your employer. For help figuring out your adjustments, see the withholding calculator created by Kiplinger's Personal Finance.

Save Money on Shopping

Start thinking about your year end bills or gift list early in the year so you can set a spending budget. Make whatever cash you have stretch as far as possible by planning for your shopping needs. Try to only use cash when you buy anything. Sticking to a carefully prepared budget helps you avoid the temptation of impulse spending and ensures that you have enough cash for everything you need. You really need to plan if you want to initiate increasing income!

You can also use the extra time to find the best deals. Web sites like and can help you find the lowest prices.

Try ‘Stoozing’

Some credit card companies are willing to lend you money at 0% interest. Take the cash and put it into a savings account that earns at least 6%. This is known as stoozing. It's legal and very profitable yet it's only for the really financially savvy. If you get a 0% card with a $5000 credit limit you should comfortably be able to earn $300/year. Remember, every little bit helps!

Prepare for Next Year

Take steps now to make it easier to cover your bills and holiday expenses for next year. If you save $10/week till the end of the year, then you should have enough money for a few gifts by the end of the year. If you saved $10/week for 52 weeks, that’s $520 by the end of the year. You can deposit it directly into an interest earning savings account or money-market fund so you don't spend the money you save on anything else. You can start increasing income early in the year, or throughout the year.

Anytime is a good time to help start saving more by increasing income!

Related Pages on This Site

Seeking Work in Tough Economic Times

Gas Mileage Expenses – Busting the Myths to Expose the Truth

18 Eco Friendly Ways to Reduce Your Carbon Footprint

15 Do It Yourself Life Hacks You Can Appreciate!

Nontoxic Green Cleaners – Mix Them Up for Pennies on the Dollar

Conserve Water – Environmental Tips for Everyday Living

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