We live in a world where money is everything — or almost everything if you may.
A lot of people have low-income jobs and feel that the only way they can increase their earnings is to get a better paying job. While a better paying job might provide you with more money, you would be faced with even more problems and higher bills that you wouldn’t really feel the impact of the increased income — this might bring you to the normal man’s money wish ‘if only I had more money’.
Below are ways you can increase your earnings, no matter your level of income.
1. SAVE MORE
Most people have a negative reaction to savings, but savings is an important part of finance and money that you can’t toy with. Earning more wouldn’t necessarily make you richer, but saving more would definitely leave you with more money.
2. SPEND LESS
Spending less goes hand in hand with saving more. More often than not, its how you spend your money that makes it not enough for you, no matter the increment in your wages. Block the loopholes that are swallowing your money, look for ways to reduce your expenditure and you would notice that your earnings would seem as if it has increased even though it hasn’t in the real sense.
3. STOP IMPULSE PURCHASE
Impulse buying is one of man’s biggest financial weaknesses. If you can calculate the amount of money you spend annually on impulse purchase, you would be shocked. Saving the money spent on impulse purchase would go a long way, no matter how little it is.
Also, stop buying what you don’t need. A lot of money go wasted on items we know we don’t really need. You would save yourself a lot of money when you do this.
4. ADOPT A DO-IT-YOURSELF LIFESTYLE
It would do you a world of good if you can handle some simple home tasks that would need you paying money for it. When you learn some of these tasks, like simple electrical and plumbing works, you save yourself a lot of money in the long run.
5. START A SIDE BUSINESS
Starting a side business is one sure way of increasing your earnings that not everyone ventures into. You can use your skills, talents or abilities to start a simple business venture that would make you some money.
6. DON’T BE QUICK TO SPEND YOUR PROFITS OR SALARY RAISE
This is another area a lot of people get it wrong. When you have a raise in salary or an increase in profits, don’t be quick to move to a bigger house or buy a new car or purchase one luxury item or the other. Live as though there wasn’t any increase and save up the extra money. Do this for at least six months to one year, then you can gradually increase your expenditure. You would be surprised at the amount of money you would have saved within that timeframe.
A lot of people are always in a hurry to spend more and that’s where they get it wrong.
With these six simple tips, you can easily increase your earnings — it only takes discipline.
Jake