Whenever you go to Google to find out how to make more money, you’re subject to the same old suggestions that don’t work.
If you’re here, you want different, and that’s exactly what I’m going to give you by NOT giving you a 100+ list of things that stopped making money back when dial-up was the new kid on the block.
In other words, here are some of the best ways you can start making extra money in 2020.
The 3 best ways to make more money
Tap into hidden income
Negotiate a raise
Start a side hustle
There are plenty of other ways to make more money — but these three are my favorite.
Let’s get started.
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1) Tap into hidden income
This isn’t income that your grandma hid under her mattresses or in the chimney for safekeeping. I’m talking about money that you can save right now if you just made a few negotiations with your billing companies.
In fact, you can save hundreds per month with just a few one-time, 5-minute phone calls, including:
Car insurance
Cell phone plan
Gym membership
Cable
Credit card
There are only three things you need to do to negotiate with these companies on fees and rates:
Call them up.
Tell them, “I’m a great customer, and I’d hate to have to leave because of a simple money issue.”
Ask, “What can you do for me to lower my rates?”
Of course, you’re going to want to adjust this formula for whatever company you’re calling. Check out my video on negotiating your bills for more on this topic.
2) Negotiate a raise
Salary negotiations are magic.
In fact, I wrote an entire FREE Ultimate Guide to Getting a Raise & Boosting Your Salary.
Seriously. That’s because with a single conversation, you can make thousands more than you did before.
The best part? Your gains only add up year after year.
Check out how much you can earn over the course of 40 years with a single salary increase:
How much negotiating a $5000 raise will get you over 40 years
Negotiations can be terrifying, though — especially if you’ve never done it before.
Luckily, I have a system that’ll help make it a little less terrifying while increasing your chances of nailing them and getting the salary you deserve.
Three months before negotiations
Before you even think about getting into your boss’s office and hashing out what type of company car you want them to give you, you need to start tracking everything you do at work and the results you get.
If you were on a team that sold 50,000 widgets, figure out what you did to help make that happen and quantify it.
By tracking all of your accomplishments and giving a hard number to them, you can adequately make your case as to 1) Why you’re an indispensable employee and 2) Why you deserve to earn more.
During this time, ask your boss if you can schedule a time to sit down and discuss ways you can excel at work. Make it clear you want to exceed expectations and ask what that would entail.
Two months before negotiations
Now it’s time to meet with your boss again and show him your tracking from the previous month … and ask him what you can do better.
You want to make sure you’re on the right track with your work. More importantly, you’re communicating your results. This shows your boss you’re willing to take the initiative to make your work and therefore the company better.
During this time, you’re also going to want to prep The Briefcase Technique. This is a tried-and-true system my students have used to earn thousands in immediate salary gains.
Here’s how it works: You’re going to create a one- to five-page proposal document showcasing specific areas in the company wherein you can add more value.
Then you’re going to bring that proposal with you when you negotiate your salary. When compensation discussions come up, you’re going to pull out this document and outline how you’re going to solve the company’s issues.
