4 Easy Ways Parents Can Increase Their Earning Potential without a 4-Year Degree

You’re not interested in going back to school. You’ve settled into your life, you have your family and you’re a part of the workforce. But your career also isn’t making you tons of money and you would like to increase your earning potential. Fortunately, there are nearly countless ways you can do this if you have a lot of drive and a little bit of talent. This guide will outline four easy ways parents can increase their earning potential without a four-year degree.

1. Start Your Own Business

You don’t need a college degree to start your own business, and if you’re skilled enough and have the right personality for it, you can even start a successful business without any experience at all. Depending on the type of business you might be interested in opening, you might be able to run it out of your home and thus spend more time with your family and children.

The downside is that running your own business requires a lot of work and success is never guaranteed. Your income won’t be unlimited either—you’ll make as much as your business makes, barring operating expenses. You can also run a business as a side venture for extra money if you don’t wish to do it full time.

2. Flipping Houses

Flipping obviously requires some upfront capital, but if you are handy and have a good eye for design, you can make a very good profit by buying a property at a lower cost, fixing it up and then reselling it for a higher price. This does not require any specialized or additional education and there are even Flip or Flop seminars that teach you how to do it.

You do have to be able to fix up a house to make it sell, however, as hiring contractors to do the work will likely result in no profit or even a loss. You can also keep the properties and rent them out for stable, additional income, which will grow with each new property you own.

3. Get a Sales Job

Whether you decide to do this full-time or just as a side venture, if you have the right personality for sales, your income potential can be tremendous. You can sell anything on your own as a licensed sales agent, from cosmetics to knives.

Sales jobs almost always rely on commissions, so as long as you sell product, you make a cut from that sale. This means that your earning potential is limited only by how many sales you make, and so if you are successful, you’re going to make very good money. The secret to doing well at a sales job is to be genuine and see how your products can meet the needs of your customers rather than being a pushy salesperson.

4. Change Your Mindset

Sometimes a higher salary can be something as simple as changing your mindset. For example, if you think of yourself as a $40,000 employee, you are going to have a much harder time becoming a $70,000 employee.

If you want a higher salary, sometimes you have to ask for it via a raise, switch jobs or even change career fields. If you never do this, then you are essentially settling for whatever you are offered, and are likely never to make as much as you could if you think of yourself as being worth more than you are currently being paid.

Being a parent and unwilling or unable to go back to school does not mean your career has to remain at a standstill forever. Whether you strike out on your own, make money in more creative fashions or simply start valuing yourself at a higher amount, there are plenty of ways for busy adults to increase their earning potential. Consider doing any of these four comparatively easy things to boost your salary range. It’s much easier than going back to school for a degree.

Tim Esterdahl

Tim Esterdahl is the editor of IFCS blog. He is a married father of three and enjoys golf in his spare time.

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