Published On: Mon, Dec 19th, 2016

5 Ways To Increase Your Income Without Going To College

Whether you’re planning for a new baby, want to make a major purchase like a car or house, or simply want some extra spending money, there are several reasons you might be seeking to increase your income. Luckily, there are also plenty of ways to do so without going to college. The following are a few examples of ways you can earn extra money without going back to school.

Change Jobs

dc15

Image via Flickr by free pictures of money

If you’ve reached the top of your career field but you feel that you aren’t earning enough, it might be time to consider a career change. Yet not all high-paying jobs require a college degree. Plumbers, for example, typically require a paid apprenticeship to learn the trade. During an apprenticeship you can earn up to 50 percent of what a fully trained plumber makes, and the median annual salary is $51,228. If you’re good at selling, an entry-level sales representative position requires only a high school diploma, yet the median annual salary is $51,971.

Negotiate for a Higher Salary

On the other hand, if you enjoy your current job, you can always ask for a raise. For many, asking for a higher salary is a nerve-racking experience. Yet if you do your homework and create a strong case for yourself, you can help calm those jitters. Make a list of all your accomplishments so you can prove your value to the company. Don’t forget to include any additional responsibilities you’ve taken on since starting your job.

Next, do research about the average salaries for others in your field. If possible, make copies of any notes or emails from managers or clients that praise your hard work and performance so that you have even more concrete information to make your case for a raise.

Consider Passive Income Opportunities

Passive income opportunities, or those that need a small amount of ongoing involvement from you, are excellent ways to bring in extra money. If you have knowledge or a skill that people would pay to learn, consider writing a book and earning publishing royalties. Another popular way people earn passive income is with a rental property. While purchasing a rental property requires a large upfront investment, it’s something that can earn you a steady income and appreciate in value.

If you’re interested in increasing your income with a rental property, focus your search on multi-unit properties instead of single-family homes. While a single-family home can bring in $100 to $150 per month after expenses, a four-unit apartment building could bring in up to $600 per month after expenses.

Use a Smartphone to Earn Extra Money

Another way to increase your income is to use your smartphone to earn money on the side. Apps downloaded to the Galaxy S7 and using a fast and reliable data network such as T-Mobile’s can help you earn extra money whether you’re at home or on the go. For example, Locket is a free app for Android phones that pays you to complete actions on their partner sites. An app like Ibotta, available for both Apple and Android phones, pays you cash for buying your favorite items at national chains like Target, Whole Foods, and others.

Get Paid to Help People

There are countless tasks that people either don’t have time to do or don’t like to do, and that they’re willing to pay someone else for doing. If you love dogs, consider dog walking to earn extra cash on the side. Pets are a billion-dollar industry, so if your dog walking begins to get popular, there are plenty of ways you can expand and make even more money. You can take your dog walking to the next level and offer to take dogs hiking, swimming, or to the dog park.

There are many other areas where people need help. New parents and seniors often need someone who can pick up groceries or run errands.

From negotiating a raise in your current job to looking for opportunities on the side for part-time work, there are plenty of ways to increase your income without the need to go back to college.