black piggy bank with lots of money

How to boost your income without getting a second job!

With the rising cost of living, we are all feeling the pinch when it comes to our finances. While finding the time and energy to work a second job can be tough, many of us could benefit from extra cash. Luckily, there are plenty of easy ways to boost your income! Here are six tips to help you increase your earnings:

Adjust your energy habits

person unplugging device to save money

Did you know that you can boost your income by making some simple adjustments to your energy habits? It's true! 

Small changes like unplugging devices on standby or turning down your thermostat by a few degrees can reduce the amount you're spending on energy bills. Other energy-saving changes you can make are to lower your radiator thermostat settings or lower your boiler's water temperature to between 50-55 degrees celsius. 

With these changes, you can pocket the extra money and use it elsewhere. Just take a look at your energy habits – you may be surprised at how much money you can save!

Partake in paid reviews and surveys

Taking part in paid surveys and reviews are great ways to boost your income with minimal effort. You can earn money for each survey or review you complete; the more you do, the more you earn! Most schemes won't let you cash out until you've reached a certain amount, and each survey and review can make you anywhere from 10p to £30. 

Many websites offer money for surveys, so you can sign up to a few and start earning. Best of all, you don't need to input any contact information when filling out the paid surveys, so you won't have to worry about any cold calls!

Many companies offer paid review schemes, with some even offering a free product to test too. Getting paid for writing honest reviews of products or services is the perfect income-boosting activity for those who enjoy their personal time, as you can easily do it before bed or while you sit and watch TV.

Invest money wisely to help it grow

Person on phone making an investment in stocks and shares

If you have some change left over at the end of the month, one of the smartest things you can do is to invest it. While you need money to start investing, if done correctly, even something as small as £10 a month can quickly double! 

When you invest, you are essentially putting your money into something that has the potential to grow over time. Investing isn't just about cryptocurrency or buying shares – it can be as simple as putting money into an ISA or savings account with a good interest rate!

There is always a potential risk of losing money when investing – especially when investing in things like cryptocurrency and shares. Make sure you do your research before investing to figure out what makes the most sense for you and your circumstances, and only invest what you can afford to avoid tightening your monthly budget.

Sell your unwanted belongings

Do you have a closet full of clothes that you never wear? Or a garage crammed with old and unwanted CDs, games and tech? If so, you're not alone. Most people have amassed a collection of unwanted items over the years. But rather than letting these items go to waste, you can boost your income by selling them! 

These days, there are plenty of ways you can convert your unwanted items into cash! You can hold a garage sale, sell them online, or head to a second shop. Here at musicMagpie, we buy lots of second-hand items, from CDs and DVDs to consoles, laptops and mobile phones!

Why not sell your old tech and media with musicMagpie? It'll give you a chance to clear out your home and put some extra cash in your pocket in the process!

Negotiate for a pay rise

Woman negotiating a pay rise to boost income

While it can be daunting to ask for more money, it's well within your right to negotiate for a pay rise. You'll have to research beforehand and prepare ahead of time to ensure your case for a raise is well thought out. 

Start by looking at salary data for similar positions in your area, then put together a list of your recent achievements and contributions to the company. When you're ready to have the conversation, schedule a meeting with your boss and calmly state your case! Be assertive but polite, and explain why you feel you deserve a pay increase.

Remember, it never hurts to ask – even if you don't get the exact amount you were hoping for, you may still end up with a pay boost that will make a difference in your budget. With a bit of preparation and tenacity, you could successfully negotiate a pay rise!

Cut back on your outgoings

Everyone's financial situation is different, but we can all benefit from taking a close look at our outgoings and expenses. By cutting back on unnecessary spending, we can free up more money to boost our income and improve our financial wellbeing. 

By cutting back on some unnecessary spending here and there, you can boost your income and make your monthly wages last longer! For example, if you usually eat out for lunch every day, could you pack a healthy lunch from home instead? Or, if you have a gym membership that you never use, could you cancel it and start working out for free in your local park? Small changes like this can quickly add up and make a big difference to your bank balance. 

It can be difficult to change our spending habits, but there are lots of helpful resources available to support us. Numerous apps and websites can help you track your spending and find ways to save money. With a little effort, you can boost your income and improve your financial situation!

Did you know you could save even more money when you trade in your old devices and rent refurbished tech with musicMagpie? Wondering "where can I sell my phone for quick cash?" Look no further than musicMagpie! You can sell iPhone, Samsung and Google Pixel phones with us, plus a whole range of other tech items, and get paid instantly for them.