Sally's Finance

Sally's Personal Finance Guide

Is it Worth Trying to Earn Extra Money?

If you are struggling with money or feel that you would like some more money for various reasons then you will have two main options. You will have to try to find ways to spend less money or to earn more money. Spending less can be hard, if you are already keeping to a tight budget or if you do not like the idea of buying less things, then you will need to find a way to earn more. However, you might feel like it is a waste of time. It is worth considering the options first though, before you decide whether you really think it is a waste of time or not.

Try to Earn More From Your Job

The first thing to try is to see whether you can earn more money from the job that you are in currently, assuming that you are working of course. You might be able to find out if it is possible for you to get a pay rise or promotion, for example and earn more money that way. It could be the case that you will be able to work more hours as well. Find out if there is some overtime or the opportunity for you to work some extra hours so that you are able to earn a bit more money. Getting more form your current job could be one of the easier ways to earn money and it could pay you the most. However, it may not be possible to get a pay rise and you may not be able to spare the extra time away form home. A lot of people have families to look after, perhaps children or other relatives that they care for so their working hours are limited. There are other possibilities.

Get a Better Paid Job

It might be possible to get a better paid job. This would help you to be able to get more money without working extra hours. This will of course depend on what is available and whether you are already being paid the maximum you think that you can for what you do. However, it is always worth taking a look at what is available, to work out whether you might be able to do something else. The job market can change a lot so it is worth looking out to see what is available.

Do Temping, Contract or Freelance Work

If you do not have a permanent job or have the time to do extra work, then temping, contract work or freelancing could be useful. Although these jobs do not have security, they can help to add to your income. They have advantages in that the are more flexible because you can choose which jobs you take on and what hours you do. They may pay less as well but it depends on what field you are working in. Contract work could pay more but freelance and temping work tends to pay less. You may have more luck finding this sort of job through an agency and there are a lot of them available that you can contact. 

Find Online Work

There are also jobs online that you could go for. Some people advertise normal jobs online so it is good to look for those. Otherwise, you may find small jobs to do. You might be able to pick up freelance work on websites which link together employers and employees or find paid surveys or small jobs that you can do. These sorts of jobs tend to be low paid because for some you will be competing with people all over the world. This means that with all of the competition the pay can be lower. Some countries have a much lower standard of living and no minimum wage and so you will be competing with those people. Also because you will be self-employed the minimum wage rule does not apply.

As you can see, there are various options that you can consider taking with regards to earning extra money and this is not an exhaustive list. Whether it is worth doing is very much a personal decision. It will depend on how important having the extra money is to you and whether you are prepared to spend the time earning. It might be that you can find something that you find fun and that you have plenty of spare time to do it in, but this may not be the case so you will have to find something that will suit you and fit in with your requirements.

Is it Worth Comparing Prices When Shopping?

If we want to save money when we are shopping, one thing that we can do is to compare the prices of what we are buying. However, you may wonder whether it really is worth the effort.

Can do it in Advance

It is worth being aware that it is something that you can do in advance of shopping. You will be able to look online and see what places sell the items you want and how much they are and you can also compare different brands to see how the prices compare. This can be a lot easier and more relaxed than doing it while you are actually out shopping. It can also be rather exhausting doing it in the shop! You can also do it bit by bit. So, trying to do it with your weekly grocery shop all in one go will be hard, but take an expensive item that you buy and start with that. For example, if you buy a lot of cheese, then just compare different brands and prices between supermarkets. See how what you are paying compares to what you would pay elsewhere and think about whether you should consider shopping elsewhere for it or whether you should try some different brands or own brands. It can be wise to also do this with your utility suppliers, insurers, lenders etc so that you make sure that every single thing you are buying is giving you the very best value for money.

Can Save a Significant Amount

It is worth thinking about the fact that if you try to save money on each item that you buy, then you can really save a lot of money. Those savings will add up to quite significant and you will not have to give up anything that you normally like to buy. It can be great to have all of that extra money as you can use it for lots of things. For example, you will be able to use it to repay debts that you have or you could use it to put in a savings account to save up for something specific or so that you have money to fall back on. You could also use it to just help you to make ends meet more easily and be able to manage your money. There are different things that you could do with the money and it can be a lot of fun deciding what you are going to use it for. Some people might just use it to treat themselves to a few extra things.

Becomes a Habit

Once you get used to comparing prices it gets to be a habit and will no longer feel hard. You will be able to go to a shop and automatically look straight at the price and then think about whether that price is a good one or not. You will start to look at alternatives quickly, just like you would with loans and then work out if that is good compared to what else is there. You will also know the benefits of comparing costs because you will already be able to repay debts, save more or whatever so it will feel more worthwhile. You may get to the point where you just do it with more expensive products because you feel the saving is more worthwhile or you are happy that you have searched enough to get to know which brands offer you the best value or which shops are the best for you to shop in.

Think About Value

Of course, you may be thinking to yourself that you do not want to always buy the cheapest things as they may not offer you value for money. You are completely right of course. You could try different brands and see what you think for some items, such as food and drink as you have very little to lose if it is not as good and you might need to try a few different ones before you get it right. With more expensive products you may need to think about reading reviews and finding out more about the product or service before you buy it. There are plenty of places that you can go online to find reviews and so these can be a good place to start. Also do some investigating yourself by reading the product details and looking at the website. It can also be handy to ask friends and family what they would recommend as they are unbiased and may have some really good advice for you.