Take-home pay in South Africa dropped over December: Here is how to boost your income
Have you suffered a salary cut and are looking for ways to make extra money? We have put together smart tips to help you supplement your income even if you have a full-time job.
Many South Africans have taken a knock when it comes to their salaries.
Apart from many losing their jobs, a large chunk have had their salaries cut.
This was confirmed by the latest BankservAfrica Take-home Pay Index which shows that take-home pay in South Africa dropped over December.
The index recorded nominal take-home pay over December at R15,415. In real terms, taking inflation into account, take-home pay is at R13,149.
“The aggregate take-home pay decline proved to be not as excessive. However, this has come off a very low annual base. In December 2019, the number amounted to 4% less than December 2018,” Mike Schüssler, Chief Economist at economists.co.za, said.
If you are one of those dealing with a salary cut, here are simple ways you can boost your income.
READ: "I make more money than my husband" - Jacaranda FM listeners weigh in
Do online surveys
One of the best ways to make money is to do online surveys.
Some of the sites where you can do surveys include Swagbucks, Toluna, OnePoll, and LifePoints.
Sell your used items
You would be surprised by how much money you could make from selling your unused items. Just make sure that you don't deal with shady people.
Freelance
Some companies have retrenched their employees and are looking for freelancers. You can make a lot of money from freelancing.
Coach
Do you have a skill that you have mastered? Why not make extra money by coaching or teaching other people that skill?
Wash cars or run a cleaning service
Do you have any neighbours or relatives that could do with help when it comes to cleaning? You can make money by offering to clean for them or wash their cars.
Bake and sell
One of the best ways to make money is to bake and sell your goodies. You can even offer to cook dinner for people and deliver the meals.
READ: Money Talk: Expert advice on how to make it through January without taking on debt
Image courtesy of iStock/ @ Christian Horz