Wish you had a little more money in your wallet these days?
Who doesn’t?
CNNMoney reports while the Great Recession is over by most accounts, the Great Income Squeeze lingers on.
You’re more likely to have had a pay freeze than a pay raise over the past year; and the average bump up for 2010 is expected to be pretty paltry. You’re more likely to have had a pay freeze than a pay raise over the past year; and the average bump up for 2010 is expected to be pretty paltry.
But you don’t have to accept the status quo when it comes to bringing in the dough. Whether you’re still on the job or retired from the grind, the action plans that follow can help boost your income.
Consult In Your Field
Deploy current (or recent, if you’re retired) job skills into other work. A graphic designer might create brochures; a marketing manager might develop a company’s social-media strategy. Hemmed in by layoffs and hiring freezes, more employers are using contract workers. Bully for you.Head A Class
Leverage your expertise into a part-time college teaching gig. You can lead courses for undergraduates at two- and four-year schools, or classes for adults via continuing-education and extension programs. Afraid of public speaking? You can even teach online.Be A Landlord
Turn unused space in that empty nest of yours into rental income. The most lease-worthy areas are those with private entrances and bathrooms, such as carriage houses and mother-in-law apartments, says Dani Babb, author of The Accidental Landlord. Don’t have that? Depending upon the demand, it may be worth creating such a space. Babb estimates it costing around $1,500 to add walls and as much as 10 times that to add a bath.Monetize A Hobby
Generate profit from your leisure-time activity. Love sports? Referee high school games. Make jewelry? Sell it at craft shows.Photo by ehow.com.