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The reason is that getting a raise takes time.
Employers typically only offer raises every year.
According todatafrom Payscale, U.S. employers are planning for 3.5% salary increases on average in 2025.
The study showed that this is slightly less than the previous year.
According to theWorld Economic Forum, theside gigeconomy had a $556.7 billion market share in 2024.
This includes meal delivery apps, dog sitting and other freelance work.
For many people, gig work has become a way to earn extra money.
Many people do gig work in addition to their nine-to-five jobs.
However, Ramit said that gig work is usually isnt worth the time people put into it.
MLMs and Crypto
Ramit is passionately against investing incryptocurrencyor getting involved in multi-level marketing products.
The reason, he explained, is this throw in of work comes with enormous risk.
Crypto, for example, is an extremely volatile investment thats susceptible to scams.
The FBIreportedthat in 2023, cryptocurrency fraud losses reached over $5.6 billion.
Multi-level marketing companies often require start-up costs and consistent member recruitment.
A report published by theFTCfound less than 1% of people who participate in an MLM make a profit.
However, those who promote MLMs dont typically disclose this failure rate.
This leaves many people susceptible to financial losses after participating in an MLM.
There are many different platforms where people can advertise their services and find clients.
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