How can you have more money? This is a question so many of us ask all the time. The answer… Just ASK FOR IT!
I know this might seem obvious, but not many of us actually go ahead and ask.
There are two main types of asks we can make that will enable us to have more money:
- Asking to have your income increased
- Asking to have your expenses decreased
Ask for an increase in your income!
Asking for a raise can feel really uncomfortable. This is partially because society teaches us that we are going to get exactly what we deserve. As a result, we don’t think that we need to flex our muscles and ask, when in actual fact we do.
Something to keep in mind when you’re considering this, is that there are two sides to the coin; your employer, wants to give you a fair compensation, but on the other hand, they also want to make sure that they are keeping their company running profitably. Bearing this in mind, if they can pay you five or ten thousand dollars less, then that’s what they’re going to try to do.
What you may not realize when you’re being hired for a new job, is that there’s usually a range in salary which the company is willing to compensate for a particular position. It’s a good idea to negotiate before accepting the first offer.
If you’ve been at the same company for a while and you haven’t received much of a raise but you are performing well, this is the time to ask for that increase. You cannot expect to get a raise simply because you have big expenses coming up. The raise you ask for must be well deserved, for the great job that you’re doing; perhaps you can show that you have improved performance or driven great results for the company.
In my experience, I’ve actually found that the best time to get an increase in your salary from an employer is to ask is in the middle of the year. At the year-end when they are re-evaluating everyone’s performances and extra money is being distributed to everyone, there may not be extra funds available.
However, if you ask towards the middle of the year, when others might not be looking for an increase, you may be able to get that raise more easily.
A trend today in the employment world, which is vastly different from years ago, is that we are no longer working for the same company for 30-35 years and then retiring. People move around from job to job much more frequently with less loyalty to any particular company. I realized only in hindsight that changing companies was a great way for me to increase my salary. Moving to a new company enabled me to get a 30% increase. This would not have been possible if I stayed at the same company.
Ask for a decrease in your expenses!
On the flip side, you can ask to have your expenses decreased, which will leave you with more money. We have so many expenses in our lives that I urge you to think about which expenses you can possibly have decreased. It is possible to negotiate and decrease credit card debt interest rates. Sometimes it is as simple as finding out if you are in the optimal available product for you. Particularly if you have a lot of debt, having your interest rate reduced can make a really big difference to how much you’re paying every single month.
You can also decrease fees charged on internet or cell phone charges as an example. When charged extra for additional use, I’ve had great success after calling up and negotiating. Tell them you’re a long time user or a new customer (depending which one you are) and ask if there is anything they can do. Usually you’ll have favourable results.
There are many different avenues available to have more money which includes increasing earnings and decreasing expenses. A great way to start is just by ASKING!