Whether you need to boost your cash flow to pay bills, save more or simply improve your lifestyle, there are plenty of ways to make more money. Some methods of saving are easy, while others require serious effort. But all have the potential of paying off if you want to boost your bottom line.
Anton Gvozdikov / Shutterstock.com
1. Ask Your Boss for a Raise
If you want to make more money in 2018, start by asking for it. According to compensation data company PayScale, 75 percent of workers who negotiate their salaries get pay raises. Less than half of workers have asked for raises, however, according to PayScale’s salary survey. So, if you’re not asking for more, you could be leaving money on the table.
To get a general idea of what you’re worth, check the going rate for your position on sites such as PayScale, Salary.com and Glassdoor. Then build your case for why you deserve higher pay based on your accomplishments and the value you’ve added to the company, according to PayScale’s negotiation guide.
igorstevanovic / Shutterstock.com
2. Give Yourself a Raise
You can boost your paycheck on your own by keeping more of what you earn. Do this by adjusting your tax withholding if you typically get a large refund every year. A big refund indicates that you’re letting Uncle Sam hang on to too much of your money during the year.
Rather than wait until the spring to get your money, file a new Form W-4 with your employer to claim additional allowances and have less tax money withheld. IRS.gov has a withholding calculator that you can use to figure out how many allowances to claim. Considering that the average refund was $2,729 in 2016, you could be adding more than $227 back to your paycheck each month.