Money Girl reveals 5 tips for making more money, without having to get a second job or go back to school.
If you want to improve your personal finances, like saving more money or paying off debt, there are 2 fundamental solutions: spend less, or earn more. Or you can turbo-charge your efforts and do both.
While I always encourage cutting unnecessary or mindless spending, there’s a limit to how much you can cut back. On the other hand, the amount you can earn is limitles - but it’s usually more difficult than cutting expenses.
In this episode, I’ll cover an important way to make more money that doesn’t involve getting a second or third job—or even going back to school for an advanced degree. Using this information can make you happier at work, and help you earn a lot more money.
Hop to a New Job
If you’re ready to earn more money, one of the quickest ways may be to simply change jobs. This is a trend that I’ve observed over and over in my career—and there’s new data to support the economics behind job hopping, which I’ll cover in the next section.
Job hopping used to be frowned upon by managers and human resources professionals. If you stayed at a job for a only short period of time, you’d be considered disloyal or flaky, while if you stuck it out for the long term, you’d be rewarded with recognition, annual raises, and even a cushy retirement pension.
But now the tide has turned, and job hopping doesn’t have the same stigma. Far too often, employers tend to overvalue new hires and undervalue existing employees. Frequent job switching is the new norm, especially for younger workers. In fact, it may even be seen as an indication of ambition or motivation.