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The average American earns $44,720<\/a> per year.<\/p>\n That doesn\u2019t sound terrible \u2013 until you factor in the reality that younger workers (between the ages of 20\u201324) are making $28,000 per year on average.<\/p>\n No matter where you fall on the spectrum of pay in the U.S., chances are that you\u2019d like to raise your own income up a couple of notches.<\/p>\n You want to boost your earning potential\u2026.but do you believe it\u2019s really possible?<\/p>\n You might have a packed schedule, a limited educational background, or even work in a career field that doesn\u2019t bring in a ton of cash.<\/p>\n We\u2019re not intimidated by these barriers, and neither should you be. It is possible to boost your earning potential, regardless of the stage of life you find yourself in, your current income, or your (perceived) lack of resources.<\/p>\n Here are four tips on how to boost your earning potential without switching careers: The most obvious way to boost your earning potential is to ask for a raise, or raise your rates.<\/p>\n Sounds a little too simple, right?<\/p>\n In fact, getting paid more to do essentially the same work may be easier than you think.<\/p>\n But, you\u2019ll have to prove your value.<\/p>\n If you work for a small business, a mid-sized company, or a giant corporation, making more money at your current job means you\u2019ll have to approach your boss (or higher-level exec) and ask for it.<\/p>\n Asking for a raise can be intimidating, but remember the potential outcome: A higher income!<\/p>\n You\u2019ll be far more successful in asking for a raise if you can show your boss that you are worth a higher investment.<\/p>\n Perhaps the most powerful way to do this is to leverage your rate of productivity. If you can show that you achieve more work in less time, that\u2019s sure evidence that you are worth more. Using a time-tracking app like Timing<\/a> makes this task efficient and professional by producing detailed reports that break down your time spent by task, project, or application.<\/p>\n If you work for yourself as a per-hour freelancer and you\u2019d like to be earning more cash, you\u2019ll have to raise your own rate.<\/p>\n It\u2019s easy to raise your rate when negotiating a contract with a new client \u2013 less so with an existing client. Still, it\u2019s possible to raise your rates, especially if you can show evidence of producing more work in the same amount of time.<\/p>\n Again, the most efficient way to do this is to use a time-tracking system (like Timing<\/a>) to measure and report your productivity rate, showing that you produce high-quality work quickly.<\/p>\n As a freelancer, you have potentially limitless earning potential. Take on more work, and make more money.<\/p>\n You might look for online jobs<\/a> on social media, networking sites, or asking existing clients for referrals.<\/p>\n And if your schedule is packed (lucky you!), you can still take on additional work as a freelancer, but you\u2019ll have to take an honest look at how you\u2019re spending your time and start maximizing your productivity.<\/p>\n If you don\u2019t already work for yourself, then consider taking on some side work as a freelancer. You may have hobbies or skills that you can monetize in order to bring in an extra source of income. For example, you may work as a project manager by day, but be a copywriter by night. Or you\u2019re a full-time accountant with a photography business on the side.<\/p>\n Be creative with how you earn extra cash. You may find that your side-hustle begins to bring in more income than your 9 to 5 job.<\/p>\n Taking on per-project freelance work gives you the freedom and flexibility to earn some extra cash on your own time, and even increase your overall career satisfaction.<\/p>\n It\u2019s been said many, many times, but you\u2019ve got to spend money to make money<\/a>. But it doesn\u2019t have to mean emptying your bank account.<\/p>\n There are other ways to increase your level of skill or education outside of paying tens of thousands of dollars for grad school or additional degrees.<\/p>\n You can easily learn a new skill \u2013 and enhance your value \u2013 just by investing a bit of time and cash into an online course.<\/p>\n For example, digital content writers can enhance their value by learning SEO. Or a graphic designer might want to dive into basic coding as a start to website development. Either of these skills can be learned online, and they don\u2019t have to cost more than a few hundred dollars. With the knowledge learned and skills developed, you can take a step in your career by starting your own business or buying a business<\/a> to increase your earning potential and income streams.<\/p>\n It\u2019s tempting to rely on free tools such as Google Calendar or Evernote to try staying on top of your shifting priorities, appointments, and various projects.<\/p>\n But investing in apps or tools with a price tag will usually pay off in the long run by helping you to become more efficient and productive, especially for freelancers.<\/p>\n For example, you will probably want to invest in a program that can help you track your expenses and itemize those expenses come tax time (and thereby save you time when filing your taxes).<\/p>\n A time-tracking tool such as Timing<\/a> comes with a small price, but it will ultimately help you increase your productivity (and earning potential) by helping you track and report your working hours and minutes.<\/p>\n At the very least, this involves paying for the \u201cPremium\u201d or \u201cBusiness\u201d version of your site and paying for your own domain name, giving you the ability to customize your site and appear professional. If you’re unsure about a suitable domain name, explore custom domain ideas for your niche<\/a> to find options that align with your brand.<\/p>\n You may also want to hire a web designer, graphic designer, or copywriter (or all three) to make sure your branding is on-point and your site is clean, functional, and effective.<\/p>\n If your website is outdated, non-functional, or poorly designed, you can count on losing sales, clients, and cash.<\/p>\n You only have so many hours in the day, and your day may already feel packed with work-related tasks, projects, and meetings.<\/p>\n The truth is, with the average person spending 2 hours and 22 minutes<\/a> a day on social media, you may have more time than you think.<\/p>\n Increasing your productivity involves making an honest assessment of how you\u2019re spending your time, singling out activities that could be wasting your time and undermining your earning potential.<\/p>\n For example, does checking your email 15 times a day<\/a> really contribute to your productivity? Or is it a compulsive habit?<\/p>\n
\n[content_upgrade_scripts]
\n[content_upgrade cu_id=”653″ preload=”1″]Asking for a promotion? Download this Promotion Prep Sheet \u2013 for free.<\/strong>[content_upgrade_button]Click Here[\/content_upgrade_button][\/content_upgrade]<\/p>\n1.\u00a0 Ask for a raise (or raise your rates).<\/h2>\n
If you work for someone else…<\/h3>\n
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<\/p>\nIf you work for yourself\u2026<\/h3>\n
2.\u00a0 Look for opportunities to take on additional work.<\/h2>\n
3.\u00a0 Spend money to make money.<\/h2>\n
Enhance Your Skills and Education<\/h3>\n
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<\/p>\nInvest in Tools and Apps That Make You More Efficient and Productive<\/h3>\n
Invest in Your Website<\/h3>\nIf you run your own business, you need to invest money into creating and running a high-quality website. Period. <\/a><\/span>Share on X<\/a><\/span>\n
4.\u00a0 Increase your productivity.<\/h2>\n