22 Jan Watch the income side of your balance sheet
This year, invest some money into improving your skills.
And with the economy still struggling, it is going to be difficult to go to your employer and say you need more money to make ends meet. Your lifestyle and financial issues are not what drive your pay – the only way to increase your pay is to increase your productivity.
“When money is tight, it’s important to show your employers you can give them more value for less.This is not to say one needs to accept a pay cut – it means one needs to increase productivity levels,”says Tjaart Minnaar, managing director of consultancy firm OIM International. In other words, you need to make yourself indispensable.
One way to do this is to continually improve your skills – signing up for additional courses or diplomas, or even choosing a mentor in your company. It is also worth putting in some extra effort to keep your star shining. Simply sticking to your job description is not enough – managers are looking for people who are willing to put in the extra effort when times are tough.
Turn your unwanted stuff into cash and create order in your life.
Finance guru Suze Orman always says that if you show her someone with a cluttered house, she will show you someone with money problems. So the first step to getting your finances sorted is to “de-clutter” your home. Be ruthless – an item of clothing you haven’t worn in a year or those dumbbells sitting in the garage gathering dust must all go.
Have a garage sale and use the money to reorganise your home. Buy proper files for your papers, apin-board to pin up your bills so you don’t ignore them. If you have enough cash, give your home a new coat of paint or re-cover a couch. If you are proudof your home you are more likely to keep it tidy and organised.
Use your skills, hobby or passion to earn some extra cash. Who knows where it will lead.
If you are trying to find extra cash to pay off your debts or have your heart set on something you can’t afford on your salary, look at ways to make some money on the side.
What skills do you have that would benefit others in your community? Can you help with tax returns?Is there a local entrepreneur who could do with your administration talents on a part-time basis to take his business to the next level? Do you have a talent for hemming school trousers or are you really handy with your toolkit? Are you an exercise nut prepared to start an exercise class for a group of women?
Everyone has a chore or a need that they are prepared to pay someone else to do.
It may start off small but if you do it well and gaina reputation, soon the money will start to pour inand you may just wonder about giving up your day job.