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How To Increase Your Income

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Are you struggling to make ends meet? Do you wish you can actually have more than your take-home pay at the end of the month?

Have you thought of how to increase your income in Nigeria? Then see how you can really increase your income with amazing tips.

Often times when people struggle really hard to reach financial goals quickly, they often look for ways to increase their income. Increasing your income depends on what you want to achieve and when you want to. There are long and short-term solutions to increase your income in Nigeria. If you really want to increase your income in Nigeria, you should consider taking long-term decisions.

The following tips will guide you on how to increase your income in Nigeria:

Explore New Opportunities

Many employees believe that the easiest and quickest way to increase their income is to change jobs. Changing your job and moving from one company to another does not guarantee that your salary will increase.

Even if there is an increment, it is usually not more than 10-20% of your previous salary. It is always better to explore new opportunities like acquiring a skill to increase your income.

When it comes to increasing your income and sustaining the increment over a long period of time, then a long-term plan is what you should consider. Changing your job to immediately boost your income may not suffice over a long period of time. However, it is advisable to improve your skill or acquire a new skill. A new skill can mean increased income because you can do more things that can help scale up your income in your recent job or opens you up to new opportunities entirely.

Start a Side Business

One good way to increase your income in Nigeria is to start a side business you enjoy doing so much. A side business is a flexible job you do aside from your main job. It is very important for you to start a side business that you are passionate about, and a business that is closely related to your hobby.

When you are just starting your side business, it is advisable for you to start out as part-time while you are still working at your original job.

There are varieties of side businesses that can increase your income. Choose jobs that really match your skill and interests. If your side business is similar to what you do in your original job, then you will need to make sure you are not violating any competition agreement.

Continue your Education

Another way to increase your income is to go back to school and continue your education. Whether it is a master’s degree or a certification, more education can mean more money. Getting a degree can help increase income within your profession. As you move upwards educationally, you income automatically moves up also.

When you decide to go back to school, it is better to be decisive about the field you want to study, because getting an additional degree does not translate to additional income at the end of the day, so choosing the right skill is also very important.

Certifications are becoming common in most job fields these days. So getting certified can increase your earning power in your profession as you move upwards in your career. Many job fields like Human Resources, Accounting, etc. requires one to be certified to really earn well.

The following are top 5 certifications that can increase your income:

– Human Resources Certifications (PHR, SPHR, SHRM)
– Project Management Certifications (PMP)
– Network Certifications (CCNA, CCNP, CCIE)
– Google Certifications (Analytics, AdWords, etc.)
– Safety and Health Management Certifications (CSMP)

Ask for a Raise

Another option to increase your income is by asking for a raise or promotion. A raise can actually increase your earnings. Once you have an additional working experience or skill, it is necessary for you to request for a raise. Before you ask for a raise, it is important for you to be sure about what you think other people in the same job role earn.

Don’t be scared about asking for a raise especially when you deserve it. Remember to be bold and confident. Learn how to ask for a raise here.

Create Multiple Stream Income

A good way to increase your income is to have multiple stream income. Engaging yourself with many valuable things can increase your income. When you have other things to do aside from your main job that is actually lucrative can sum up to streams of income.

You can create multiple streams of income on online platforms. Every employee is advised to have multiple streams of income to be financially stable.

When creating streams of income, you should be careful to focus on a niche that you really enjoy researching about or do something more general. It takes work, and time to build an audience, and you will want to find ways to engage the audience. Creating multiple streams of income can increase your income.

Whether you are a salary earner or a business person, it is always important for you to look forward to an increased income. You should always look forward to utilizing your skills and placing a good value on it. Making a conscious effort to invest in your career and developing new ones can increase your income.

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