Increasing Your Income

You've written down your budget. You've slashed the places that need to be slashed. Now you're probably looking at the new budget with one of two thoughts in your mind:

1) Crap. The expenses are still higher than my income.
2) Well now the numbers match, but I can never do anything fun...ever.

Don't lose hope!

We live in a world where the solutions to both of these problems are fairly simple. What you need to do is make more money. It may not sound simple right now. You may be thinking "But I work 80 hours a week already!" or "money doesn't grow on trees!" You're right on both of those. But you're wrong for letting either one stop you.

If you're already busting your butt as much as humanly possible and you still aren't making ends meet, it's time to find a new place to put your effort. Clearly wherever you are isn't valuing your time highly enough. Start looking for a different way to make money - maybe a different job, maybe starting your own company, there's plenty of options out there. Be polite where you are and still give them your best effort while you're working there. But don't take on extra responsibilities. If you're busting your butt with an employer and what they're paying you isn't enough to live on, it's time to give them only what they're paying you for and spend the rest of it on finding another option.

On the other hand if you've got more time in your day that could be put toward other moneymaking activities - even just a few hours a day - start looking at options you can add to what you're already doing. Maybe you also need to switch jobs, or maybe you have a skill that you can use to start your own business and work part-time for a while. Whatever the case, let your productive hours be productive. As my mentor says "The first 8 hours of the day are what you spend making a living, the second 8 hours of the day are what you spend creating your life."

Here's some tips for this part of the game:

• Do not rush into this decision! You don't want to jump at the first opportunity that comes by just because it's the first opportunity that comes by. We live in a world packed with opportunities, but we also live in a world packed with scams and time wasters clothed like opportunities. Work closely with your mentor on this one. Be sure to read financial books so you know what you need and what you're looking for - I highly recommend the works of Dave Ramsay and Robert Kiyosaki. Both men are financial geniuses in our world and if you're attentive they can teach you everything you need to know about increasing your income wisely.
  
• Don't snub an opportunity because of hearsay. Multilevel marketing, direct sales marketing, network marketing, these are all terms that refer to the same type of opportunity. Some companies in this category are better than others, but all of them have someone who basically hates them and has told everybody they ever came into contact with all the reasons to hate these companies. Do your own research. Listen to people who are experts in the field, and read Robert Kiyosaki's book Business of the 21st Century so you better understand the role that these types of companies play in our economy today and in creating more income for yourself.
  
• Take classes and utilize the free resources available. Financial planners are happy to sit down with you and go over what you're doing to recommend a best course of action. Often, they'll do this for free the first time. Don't cheat them out of their commission by going from planner to planner to get all of the free sessions possible, but don't be afraid to use that first free session as a launching point. Always be learning, and keep an open mind. If you knew everything there was to know about finances, you wouldn't be in a financial tight spot.
  
• Take risks wisely. Quitting your job altogether because a better one might be on the way isn't very wise. On the other hand, switching to a job that pays less temporarily but has good advancement options and will give you more time to work on your other income streams may be a risk worth taking. It's all about where you are, what you can handle, and what you can realistically expect to happen in the situation. I've mentioned this before, work closely with your mentors on this one. 

Is this everything you need to know about making more money? Nope. I don't know everything there is to know about making more money. But what I do know is that it's possible and it's simpler than you might think at first. I know this from experience. Two and a half years ago my husband and I were flat broke, in debt, on unemployment, getting rejected time and again for jobs, and there was no way the trickle of money from the government was going to be able to pay our bills. Then, my husband's previous employer pulled a bastard move and contested my husband's right to be on unemployment with an argument that was just good enough for the court to agree and order us to pay back what little we had received to that point. We couldn't even afford the 15 cent package of ramen noodles some nights. 

That year we started a business and matched his income, in the second year we doubled it, and we have a goal to double it again this year. And that's not our only source of income, because we understand the value of having multiple faucets turned on in our lives. It's not always easy, but it really is so simple. Take heart, take control of your life and your future, and go find a way to make the money you need.