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In-Demand Skills that Increase Income

We are in difficult economic times. Between high home prices, inflation and high national debt, it can be a challenge to make ends meet. The best way to navigate these trying times is to increase income. One of the best ways to do that is to learn an in-demand skill.

You may feel daunted by the concept of earning more money. Maybe you feel that you lack the education needed to move up or, that you’ve reached a ceiling in your current job and aren’t sure where else to go. Fortunately, there are many skills you can start learning today that have proven to increase income. Yes, you will have to put in work to level up your abilities, but it will be worth it in the long run.

What skills are associated with higher income?

While there’s no downfall to learning something new, there are certain skills that lead to a bigger income boost than others. The catch is that which skills are in demand varies each year. Don’t let that discourage you. In fact, the ability to learn something new is the ultimate skill. If you identify something you want to learn and begin the process of mastering it, you’re already ahead of most people.

LinkedIn regularly publishes a list of the current most in-demand skills. For the upcoming decade, the most in-demand skills are:

Top 5 Soft Skills

  • Creativity
  • Persuasion
  • Adaptability
  • Collaboration
  • Emotional intelligence

Top 10 Hard Skills

  • Analytical reasoning
  • Cloud computing
  • Artificial intelligence
  • UX design
  • Blockchain
  • Business analysis
  • Affiliate marketing
  • Sales
  • Scientific computing
  • Video editing and production

Soft skills vs. hard skills

Soft skills are personal attributes required for job success. These types of skills cannot be learned in a classroom. Instead, they are acquired from life and professional experience. Examples of soft skills include time management, conflict resolution, teamwork and problem-solving.

You may have heard of soft skills and hard skills. High-paying jobs require both types of skills, but what are they exactly and what’s the difference between them?

On the other hand, hard skills are technical abilities. These kinds of skills are learned over time and are quantifiable. In addition, hard skills are typically learned in a classroom, through training or on the job. Examples of hard skills include proficiency in a language, a degree, and computer programming.

Which skill type should you place greater emphasis on?

According to various scientific studies, soft skills tend to matter more than hard skills. Soft skills are known to increase a team’s performance. Also, hard skills are essentially useless without soft skills. Soft skills tend to require a lot more effort to learn. Anyone can learn a hard skill through time and dedication. Soft skills require introspection and reflection which is far more difficult to master. The increased difficulty makes them a more valuable skill.

High-income skills

If you’re ready to take a leap of faith into a new career, the four high-income skills below are a good place to start. They’re easy to learn and have low barriers to entry. In addition, there are plenty of free online courses you can take to master these in-demand skills.

You can start your own blog or write for someone else’s blog. All you need to begin is a computer and basic writing skills.

Every website is trying to be the number one hit on Google for keyword searches. Incorporating SEO into written content is how this is possible.

This is a special kind of writing used for marketing and advertising purposes. The style of writing is often clear, concise and worded in a way to sell products or services.

A small business’s online presence is more important now than ever before. By learning how to design a website, you can make a substantial income.

What skills are best for earning money and are easy to learn?

There are tons of other skills out there that yield high incomes. Let’s take a step back from specific skills and look at two industries as a whole. Marketing and Information Technology (IT) are arguably the most profitable sectors to work in right now.

Marketing skills

There are so many forms of marketing in today’s digital age. Video marketing, personalization, digital marketing and virtual/augmented reality are just a few. Most of these are easy to learn, especially with the use of free online resources. Once you start learning one, you might find your career evolving into other sectors of marketing over time.

IT skills

There are many subsectors of IT including user experience, software development, and coding. If you’re good with computers, these skills will be very easy for you to learn and can be very lucrative.

Acquire these in-demand skills to start earning extra money

Many people cannot afford to quit their job to begin an entirely new career from scratch. It takes time to learn a new skill. It takes longer to earn enough money off that skill to live comfortably.

A common strategy to pivot into a new career is to start a side hustle. You can keep your main job and complete high-demand work on the side. Financially, this means you can supplement your income and save up for your career transition.

Learn these skills to start earning extra money right now:

  • Search Engine Optimization (SEO)
  • Search Engine Marketing (SEM)
  • Content writing
  • Video editing
  • Graphic design and editing
  • Programming
  • Project management
  • Social media marketing

New skill, new income

Learning a new, in-demand skill is a proven method of earning a bigger paycheque. It’s completely normal to feel a little intimidated while learning something new. To mitigate that feeling and stay on track try not to think of it as a chore and pick a skill you genuinely enjoy. To brainstorm ideas for new skills to learn a quick Google search will help.

If you’re looking for ways to earn a higher income because you’re struggling financially, Consolidated Credit can help. Reach out today for a free consultation.

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