Are you fed up with not earning enough? Or, is your lack of income creating financial difficulty for you and your family? Going to work every day and being paid less than you are worth can be emotionally and financially draining.
Though you may not be able to secure the raise you think you deserve, you actually may have more control over your income than you think. Here are several things you can do if you don't make enough money at your job.
Create a list of achievements Though you don't get the final say on whether you get a raise, you can take some actionable steps to bolster the process of raising your income. One way to prove to your boss that you should get a raise is to keep track of your accomplishments. If you don't already track your work achievements, now is the time to start.
Look back on the past year or so. What stands out as impressive?
The science of money and happiness
Did you improve a process or system? Save the company money? Take on an additional project? Often, managers aren't aware of exactly how much value their employees are providing to the company.
They may be impressed, or even surprised, to find out just how much you have accomplished for the company. By creating a list of achievements, you are one step closer to earning a raise. Research salary data What does someone with similar job responsibilities in your area earn? It's important to have access to up-to-date salary data when making your case for a raise.
Every position has a going market rate.
1. Create a list of achievements
To avoid being unrealistic in what you're asking for salary-wise, do your research in advance by using websites such as Glassdoor and Payscale. See also: Are You Underpaid? Take on additional work Could your boss use help on some additional projects?
Do you have the opportunity to earn how to get a bonus on options Would taking on additional work help solidify your request for a raise?
Volunteering for additional projects often shows how serious you are about your career and helping your company succeed. And by asking for extra work, you are likely to grow your skills by working on something that isn't a typical part of your job duties. Talk to your boss Talking to your boss about your salary can be intimidating. But it doesn't have to be. Depending on your relationship with your boss, you may already have great rapport.
Most managers expect that their employees want to be paid more, so the conversation won't be as shocking to them as you may think.
What do you do when you’re not making enough money?
Simply ask your boss how you can work to increase your value to the company. Sometimes, just knowing that you are interested in not enough money to live where to earn on more responsibility is the boost you need to get the salary increase you desire. Create an additional income stream Creating an additional income stream outside your regular job is a great way to increase your income relatively quickly.
Plus, you can typically earn money while doing something you enjoy. Whether you choose to sell clothing, baby-sit, start a blog, do not enough money to live where to earn, or something else, there is no shortage of ways to earn money on the side.
I Needed To Make Money
Slash your expenses What's the quickest way to find more money in your budget? Slash your expenses. Take a look at your current monthly spending. What could you do without? Are there any expenses you could cut entirely? If you can't cut them out, are there at least expenses you can lower? Start searching for a new job What do you do if your current company won't give you an increase in pay?
It might be time to start searching for a new job.
You owe it to yourself to earn what you think you are worth. Sure, there are things you may enjoy about your current employer.
How much should you be making?
But if you're not earning enough to live comfortably, it's time to see what new and better opportunities could be waiting for you elsewhere. Save all you can If you are barely making enough money to cover your bills, you will need to budget very wisely and save whatever you are able to.
Emergencies happen, and if you aren't earning enough income to comfortably make ends meet, it will be even harder to bounce back from an unexpected expense like a leaky roof or medical bill. Prepare yourself and protect your own finances by saving everything you can in an emergency fund.
Network You never know who could help you land your next gig. No matter where you are in your career, networking is key.
- I can't put any more money away than I already do.
- Here’s What You Can Do When it Feels Like You Can’t Afford Anything
- Every paycheck once we pay everything we owe, we are left with no money to live on so we end up using our credit cards for gas and groceries, which only digs the hole deeper.
Start by going to a few networking events in your area, or getting involved with a new organization. Don't forget to nurture your current network by keeping up with your peers and friends on social media and LinkedIn.
Ask for support Emotional support is one of the best, but most underrated tools at your disposal. Without having someone to encourage and push you, your mental health could suffer.
Talk to your family, friends, or partner about your finances, your goals, and your current position. Ask for their advice and let them know how they can help hold you accountable.
Here’s What You Can Do When it Feels Like You Can’t Afford Anything
Though it might not feel like it, everyone has gone through some financial stress in their life and can offer you some sort of emotional encouragement. Like this article? Pin it! Wise Bread Picks.