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How to get extra cash while working

The Benefits of Having a Job

Getting a job and being employed is a natural part of our lives’ today. It is a major accomplishment for many people when they have secured a good job in a respectable firm or organization. Having a job provide you with a steady income, different benefits, the opportunity to develop yourself personally and professionally and the opportunity to develop relationships with those you work with. In addition, securing a job is a sign that you have accomplished something great – that all of your hard work, money, time and effort has finally paid off. 

While securing a good job is a major accomplishment, sometimes, having just one job is not enough, especially in these economically difficult times that we are living in. many working people are looking for other ways of getting money even though they are employed and have a full-time job, even me. Article writing is not my full-time job. I am employed from 8.00 A.M. to 4.00 P.M. as a Finance Manager for an IT Firm. Aside from being a passion, writing articles is a side job that allows me to generate additional income that I use to improve and further develop my standards of living.

The Benefits of Having a Side Job

If your current working schedule allows it and you are mentally capable of dealing with the additional responsibilities, it is advisable to get a side job. There are many sources available on the internet that will provide you with information on where to get a job.

Below are four main benefits of lucrative side jobs:

1

You earn more money which you can use to have a better life without having to take on additional stress at your main job. 

2

You will be able to better support the lifestyle that you desire. Many people are not able to live the life that they want because they cannot afford it. For example, a lot of people love to travel and want to travel but they cannot afford to do so.

3

Having a full time job can help you to work towards and fulfilling goals and needs that your full-time job does not give you the opportunity to work towards and fulfill.

4

You develop certain valuable traits from having a side job such as discipline and perseverance.  It takes a lot of hard work to be able to fulfill the responsibilities of two job roles.

Working Tax Benefits – Another Way of Getting Money While Having a Full-Time Job

Another way of getting money if you are working is through working tax benefits. Even though you have a full time job, you may still be able to get benefits or tax credits from the government, especially if you are on low income. Working tax credit is a government based benefit that is designed to increase your earnings; however, not everyone is eligible for it. If you are looking for working tax credits, below are some of the conditions under which you may be eligible for working tax credit include:

1. You are twenty-five years or older, have no children and work for at least thirty hours per week

2. You are sixteen or older, have a disability and work for at least sixteen hours per week

3. You are sixty or older and work for at least sixteen hours per week

4. You are a single parent of at least one child, are sixteen years or older and work at least sixteen hours per week.

How Much Working Tax Credit Can You Get

The amount of money that you can get is dependent on a variety of circumstances and on your income; however, there is a basic amount of working tax credit which is £1,960 per year. This is commonly referred to as the basic element. There are a variety of other elements which are used to calculate how much working tax credit you are eligible are.

Some of these elements are:

1. The lone parent element if you are a single parent and meet the eligibility requirements

2. The disability element for those who are disabled and meet the eligibility requirements

You can always use the tax credits calculator to get an indication of how much money you can get. In order to use this calculator, you will the following information:

1. Your working hours

2. Your income

3. Your partner’s income if you have a partner

4. Any other benefits you may already be claiming

 

How is Working Tax Credit Paid

In the most common cases, your working tax credit will be paid directly into your bank account by the HM Revenue and Customs office. If you have any questions or have any problems with the payments you are receiving, it is advisable to consult an experienced adviser who can provide you with addition information and can help you to resolve any issues you may have. You can also contact working tax credit directly for any questions you may have.

 

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