Do you want to make more money in 2020? Well, there’s no time like the present. Here are some things you can do right now to boost your earning potential in 2020.

Practice Better Work Habits

One of the best ways to boost your career and your income is to get a promotion at your job. But how do you convince your supervisors that you’re worthy of a raise and greater responsibilities?

First, you need to make sure that you’re practicing good work habits every day. Here are a few work habits that the best employees have:
  • Show up early: Good employees don’t just get to the office on time—they get there at least 10 or 15 minutes early
  • Stay late: Good employees don’t leave right at 5:00 PM—they stay at least 10 or 15 minutes longer
  • Network within your office: Get to know the other people who work in your office and what their jobs entail
  • Dress appropriately: Always dress to impress, even if your workplace is okay with “casual” office attire
  • Making these habits a part of your daily routine will help you stand out over other employees in your office.

Take on New Responsibilities at Work

Your supervisors may be hesitant to give you a promotion if they’re unsure you can handle the responsibilities that come with the new role. This is where the “network within your office” habit becomes especially useful. The more that you talk with people working in other departments or work teams, the better understanding you’ll have of what it takes to perform company tasks outside of your current role.

You should also ask your supervisors if there are any daily, weekly, or monthly tasks that you can take on in addition to your current set of responsibilities, or you can ask to be put on a large project that the company is undertaking. Most supervisors are happy to have employees take on extra work (means they don’t have to hire another employee or outsource tasks). Keep in mind that you may not be given extra time in your schedule to work on these tasks, and that you’ll probably have to work longer hours in order to complete them.

Also make sure that you take advantage of any training seminars or workshops that are offered by your workplace. This is an easy way to learn new skills that are relevant to your company.

Maintain a Work-Life Balance

You might have realized by now that you’re going to need to work a lot harder if you’re going to get a promotion or higher-paying job at another company. That means that it’s more important than ever to maintain a strong work-life balance. A poor work-life balance will negatively impact you in several ways:
  • You could develop depression, sleep deprivation, or heart problems
  • You may have difficulty focusing on work
  • You’ll lose productivity due to burnout

Although it’s admirable to put in extra hours when you can, be sure that you give yourself some time to unwind after every workday. Incorporate fun or relaxing things into your morning or evening routine, like:
  • Spending time with friends
  • Exercising
  • Doing yoga/meditating
  • Reading or journaling
  • Exploring new parts of town

Be sure to give yourself plenty of rest each night (try and aim for 6 to 8 hours of sleep) and keep a healthy diet so you’ll have more energy throughout the day.

Spruce Up Your Resume

Unfortunately, you might not be able to get a promotion at your workplace. It’s not necessarily your fault—some companies just don’t have the capital to give a pay raise, while other companies just overlook hardworking employees. It happens.

If you think you’ve advanced as far as you can at your current workplace, then it might be time to look for a higher-paying job elsewhere. Spruce up your resume and hit the job boards to find open positions that may be a good fit for you. On your resume, be sure to list:
  • Skills/prior positions that are relevant to the position you’re applying for
  • Accomplishments you made at each of your companies
  • Also be sure to include a cover letter that introduces yourself, your skillset, and what you’re looking for in a company.
LinkedIn can be an invaluable tool in your job search. Create a profile if you haven’t already, and add colleagues that you work with presently and in the past. Ask colleagues to verify skills that you’ve demonstrated throughout your career.

Start Your Own Business

Start Your Own Business

Oftentimes, the most rewarding and financially lucrative work is the work that you do for yourself. If you have a business idea or skill set that’s marketable, then consider starting a business in 2020.

You might not want to quit your day job until your company is a proven success—unless you want to risk being out of work with nothing else to pay the bills. Work on your side hustle before and after your day job, and try to make small progress each day. Register your company with local and federal tax authorities, build a website, and then use social media and SEO strategies to promote your new company.

Who knows? By 2021, you could be earning far more than your current salary by being a business owner.

You have unlimited potential to earn more money in 2020, so use these tips to get started today.