By
Justin Heller
With everything going on in the world in 2022, earning extra income is more than a nicety — it’s a necessity. Every bit of extra money is appreciated, regardless of your background, from inflation and gas prices to general economic uncertainty.
This article outlines the most effective ways to increase your income in 2022. Whether you’re a busy college student, single in the city, or locked in with kids and a full-time job, there are ways to boost your earnings in the short and long term.
Keep an open mind, explore all your options, and let Steady be your guide towards more income than you ever imagined in 2022 and beyond.
Use this list as a source of inspiration, then explore the details of each opportunity further using an app like Steady or discovering new avenues online.
It seems like we’re stating the obvious with this first entry, but think about it: What are you actually doing to make more money through your primary income source?
Whether you work in retail, service industry, sales, or a highly specialized professional setting, there are always ways to increase your earnings in the workplace, even if it doesn’t happen instantly.
Your first angle is about volume: Max out your hours to see how much more you can earn through sheer willpower. That isn’t a sustainable strategy, of course, so use it sparingly when you have the extra time and energy to pull it off.
Next, your focus should be on raising your hourly rate, salary, commission, or other earnings structure you follow. This takes a more strategic approach, whether asking for a raise or refining your skillsets for improved performance in the workplace.
Work harder, not smarter — that should be your motto when aiming to earn more at work, and it will serve you well across all your income-boosting efforts moving forward.
Unless you’re already at the pinnacle of your field, there will come a time when a career change will increase your earning capabilities.
This could mean going from customer service to sales, administration to accounting, or from an associate role to VP in your firm. The signs should be clear that it’s time for a leap forward. You may see no room for advancement or feel you’ve outgrown your current role.
It’s not just a matter of earning more, but also fulfilling your potential in life and keeping things interesting! You should always seek something that challenges you intellectually or physically rather than staying in your comfort zone.
Whatever your situation, think about where you’ve been, where you are, and where you want to go next. If the next step requires advanced training or returning to school, explore those options and see what game plan fits your schedule and budget.
Network with those in your desired industry, generate a plan of action, and you’ll be on an advanced career track before you know it.
While you’re doing everything you can to increase your income at work, you can enter the gig economy in the meantime with one of the most popular options: driving.
Rideshare apps like Uber and Lyft are still some of the best ways to bring in side income almost immediately, even if you only commit to working a few nights per week. Just a handful of hours here and there can equal tons of extra cash each month, significantly increasing your annual earnings for 2022.
Consider driving for food or package delivery services if you’re not in the mood to have riders in your car. These gigs may not offer much room for advancement, but you can absolutely bring in some decent side cash if you learn the ropes and remain consistent.
Take advantage of incentives through Steady to ensure you get those welcomed income boosters when you start driving for a new service.
Looking for a more passive way to earn income that doesn’t involve spending hours behind the wheel? More and more people now rent out space in their homes for visitors to stay through apps like Airbnb and Vrbo.
High-end apartments and vacation homes will undoubtedly rake in the most income, but you can still make your place shine by keeping things clean and customer-service focused. An extra room or two can raise your monthly income significantly with just a few stays.
Speaking of space, why not empty that garage or storage area you’ve been meaning to clean for years? There is bound to be some valuable stuff in there that you can post to Facebook Marketplace, Decluttr, or a variety of other apps that connect you to buyers.
Toys, books, electronics, furniture — there’s a market for everything. You’d be surprised how quick and streamlined the selling process can be with these apps, especially if you put some care into how you curate and present your items.
These examples go to show that you may be sitting on opportunities that can boost your income stream for 2022 and beyond.
You should direct most of your skills training toward your main income source: Your primary job or career. However, 2022 is the year of the side hustle, meaning that you can develop new skills on the side and see some significant earnings as a result.
We’re talking about things like photography, graphic design, writing, editing, and even voiceover work. With dedicated apps and freelance methods, you can monetize these valuable, in-demand skills digitally and more efficiently than ever.
You can also teach that skill via digital products or direct coaching and online courses. This is how you achieve a mix of active and passive income that can change your personal finances.
It may take some time to sharpen and monetize those skills, but this is not an instant income solution. Treat this as a medium-range plan that taps into your natural talents and makes the most of them over time.
Just remember this: If someone can monetize a skill online, so can you! Broaden your horizons and see that anything is possible.
How did your favorite artists and influencers make their money? They dedicated their time and effort to a personal brand and connected with audiences worldwide, increasing their income beyond all imaginable limits.
Like the previous entry, this method will require creativity, utilizing your talents and interests to the fullest. You can select a niche - anything from watercolor painting to weight loss - then build a brand around it, leveraging your personality and unique perspectives.
This entails creating original content, tapping into an online community of like-minded people, then eventually generating an audience of your own.
It can be a podcast or a YouTube channel; all that matters is that you figure out creative ways to generate content that you’re passionate about. Once you have a significant following, you can then monetize a website or social media page with affiliate links or products of your own.
It’s a process that may take years to fulfill, but the earning potential is enormous. This path can become a side hustle, a second job, or even a new job or full-fledged small business. Don’t forget - you can earn incremental amounts in the meantime and enjoy the compounding returns on your efforts over the long term.
Did someone say compounding returns? Let that be a reminder that 2022 is the year you should start investing those earnings into proven assets and securities.
Just sitting on that cash isn’t going to do much for your income, especially with inflation in full force. Figure out an investment plan that works with your income level, knowledge, and risk tolerance, then commit to putting aside a set amount of money each month.
Investing isn’t complicated, especially with powerful portfolio tools built specifically for smartphones. Just get started!
Before the year is up, you’ll be happy you have a nest egg in the works, and those good habits will carry over into greater financial independence overall.
What does it take for something to qualify as an effective income amplifier in 2022? Here are the criteria we used when putting together our list of ideas.
You’ll notice that each entry on our list has a general theme but includes specifics that you can pick and choose based on your personal preferences and scheduling parameters. Everyone faces certain limitations in life, but there’s something for everyone in each category.
How can you connect all these lucrative strategies into one? Download Steady to access a one-stop-shop that helps you track your earnings across all income sources and find ways to earn more money. This transparency gives you an organizational edge while motivating you to earn more each month.
Steady also provides data-driven insights about how your current skills match up to the job market more broadly, telling you where to focus your efforts and guiding you in the right direction.
It’s like having a career advice coach in your pocket at all times, keeping you motivated and on track with your financial goals, whatever they may be!
With tools like Steady and a wide array of income-boosting methods listed here, 2022 will present you with opportunities to earn like never before. Use this guide to map out a workable strategy and take the proper steps towards your highest-earning year yet.
Sources:
The State of Gig Work in 2021 | Pew Research
