Millions of Americans are earning minimum wage. Franknez.com is about to provide you with 7 powerful money hacks to boost your minimum wage income.
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The current minimum wage in California is $12/hr. It’s $11.80 in New York City, and $15.00 in Washington D.C. Some states even earn as much as $5 and change!
So, what can we do to increase our income and bring more money back home? In short, you must increase the value you bring to the marketplace.
The world will need more of you so once you take action the money will follow.
Request For More Hours
Money Hack #1
If you’re making minimum wage but are only on the clock as a part-time, request for more hours.
Find out if there are full-time positions open and how to get into one of those positions.
If a company will not take you full-time then consider getting work through a hiring agency. Let them know you are looking for a full-time job. These agencies are very good at finding a workplace that fits your needs.
Money Hack #2
If you’re already employed full-time then strive towards getting OT. Working overtime is a way of compounding extra hours worked during a pay period.
OT is where you can take minimum wage earnings and convert them into living wage earnings.
Overtime is usually presented to people when a company gets very busy. You might notice this mainly around the holidays.
Put in as many hours as you can to earn that extra income.
What if my company doesn’t offer OT?
If your company doesn’t offer OT then you will need to find other means of increasing your income.
While some people might be thinking about taking on a second part-time job, this is another way of chaining yourself to the ‘man’. Don’t do that.
At this point you should be working on your own terms and setting your own hours.
Take on Ridesharing Services
Money Hack #3
A great way to earn money outside your job is to take on ridesharing services such as Uber or Lyft.
With Uber and Lyft you make money by driving people to their destinations.
These platforms allow you to earn an extra income on your own time. No boss to report to, no managers micromanaging you. Just you providing value to the marketplace.
Consider on-demand Food Delivery Services
Money Hack #4
Just like Uber and Lyft, on-demand food delivery services such as DoorDash, Postmates, and Grubhub all provide you with the same great benefit of flexibility.
With DoorDash, Postmates, and Grubhub, you essentially pick up food on demand and deliver it to the designated location. You get paid for every delivery which means the more deliveries you make the more you get paid.
These simple jobs are very convenient ways of earning extra income so that you don’t depend solely on your minimum wage income.
Have Your Additional Income Work For You!
Money Hack #5
Don’t forget to have your additional income work for you so you can make the most of it.
When you put your money in a high yielding savings account it earns you interest every month. It would be wise to have your additional income earn you passive income!
Where can I open a high yielding savings account?
You can open a high yielding savings account through BMO Harris, American Express, and CIT Bank. There are more banks that provide returns so make sure to do your research and see which best fits your needs!
Money Hack #6
Recycling is a great way to earn quick cash every month. Not only is it beneficial to our environment but you also gain a return on your purchases.
Tip: Crush your cans to make them heavier. When you recycle water bottles make sure you crush them vertically and seal them with the caps as well. We promise you will get the most out of them this way.
Start An Online Business
Money Hack #7
Starting an online business is probably one of the best things you can do outside your 9-5. An online business yields great opportunities that can eventually out-earn your minimum wage income.
People are creating online businesses to:
- Sell hard goods online
- Provide a service
- Sell digital goods and courses
- Review businesses online
- and so much more
Never Stop Looking For Ways To Earn More Money
Be sure to check out our ‘Side Hustles’ tab to read about more ways you can start earning extra money. We’re teaching people how to start a blog, how to start a thriving online business, how to make money from home and so much more.
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