8 Ways To Boost Your Bank Balance This Year

Do you want to see the numbers in your bank account increase this year? If the answer is yes, there are numerous things you can do to be sure that this happens.

Below, you’ll find 8 things you can start with – there are less than 4 months left to the year, so make sure you do something worthwhile! 

  1. See If You Can Get A Raise

Start by chatting to your boss (if you have one) and asking if you can have a raise. This is a little harder than actually approaching them and saying you want more money most of the time.

You will need to present them with pointers on why you think you should be making more money. You should also be open to the idea that they might simply give you some feedback and a few things to improve on before they agree to it. That being said, it doesn’t hurt to ask – and if you don’t ask, you don’t get. 

  1. Start Some Kind Of Side Hustle 

Plain and simple, working for somebody else will hardly ever make you rich or wealthy. This is why most people choose to start some kind of side hustle. A side hustle is something you do in your own time at home. It could be a passive income idea, such as writing an Ebook or starting a YouTube channel.

Of course, many ‘passive’ ideas aren’t all that passive anymore. You would still need to put a lot of work into writing the book, or editing the videos, but once they are out there, you stand to make money from them time and time again.

Alternatively, if there’s something that you’re passionate about, you could start a side hustle based on that. Are you an artist? Perhaps you’ve always dreamed of being a life coach? There are all kinds of platforms you can build a business on quickly and easily. Just make sure you want to provide people with real value! 

Boost your bank balance

  1. Start Using Cashback Sites

You have to have the patience for the money you earn on cashback sites to build up, but it really does make a difference if you remember to use them every time you buy. Simply go to the site, type in the store you’re thinking of buying from, click through to it from there, and make your purchase.

The cashback site will register that you have purchased and your cashback will be tracked. It can take a while before you are able to withdraw it, but if you’re willing to let it build up it can be a nice way to make a bit of pocket money. 

  1. Get Any Money You’re Owed 

If you’re owed money, put yourself on a mission to go out and get it. Are there any refunds overdue? Invoices? Money you’ve lent to family or friends? Perhaps you are entitled to help from the government but you need universal credit explained before you understand the steps to take.

Whatever it is, make a list and vow to get the money you’re owed. 

  1. Use Apps To Help You

There are so many helpful apps out there that can help you to manage your finances and see your bank balance rise. For instance, there are apps that can help you to track your budget in real-time, apps that will help you to invest if you’re not sure how to get started, and even apps that will save money automatically for you by rounding off purchases that you make.

When it comes to using your computer to shop, there are browser add ons you can try that will include discount codes automatically when making a purchase. 

  1. Know Exactly What Your Goals Are 

Knowing what your financial goals are will help you to come up with a plan. How much money do you want? Why do you want it?

Try to make your goal appeal to you emotionally. When this happens, you’re more likely to achieve it. 

  1. Live Below Your Means

Living below your means is key if you want to boost your bank balance. A minimalist lifestyle can actually be super satisfying and it will help you to reduce waste.

A lot of the time, it isn’t about the money you earn – it’s about the money you can keep. Where can you cut your spending? 

  1. Sell Things You Don’t Want 

Go through your belongings and start selling the things you don’t want. There are online platforms or you could try a garage sale! 

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