People say money can’t buy happiness. But, you know what? Money can pay the bills. So, trying to make MORE money is not a bad thing to do. In fact, you need money for the things that you need and for the things that are important to you. Having enough money can make your life more enjoyable.
Don’t be afraid to be labelled as a “money-hungry” person. Those who mock you won’t be there for you in difficult times. So, in this post, we are going to discuss 10 simple steps you can take to increase your income starting from today!
Have you ever heard a successful person claims that you don’t need money? No! That’s because they understand the value of money than anyone else. Those who claim that “money is not important” are probably broke. Of course, money is not everything in your life. But, having enough money is crucial.
So, let’s get back to our topic, how to increase your income?
1. Forget about your self-worth
Why, because it has nothing to do with your confidence in making money. Have you got one million dollars in your bank account? Great! Or, are you already broke? Don’t worry!
Let your confidence and motivation define you, not what you have in your bank account. Remember, we are going to learn how to increase your income, not how to multiply what you have in the bank.
2. Understand the difference between the price and the value
Price and value are two different things. We all like to buy better-looking shoes, clothes, and gadgets. However, a crucial part of a proper money management strategy is to understand the real value of such products.
While you are working on increasing the income, you must have to work on managing your expenses too. Therefore, make sure to practice a good money management strategy too.
3. Identify how you make money
Start creating a list of your income-producing activities. It can be your day-job, any casual work, interests from the savings, or money from any other investments.
Carefully evaluate which methods are working well, and which are not. If you need to increase your income, you have to add more weight to more profitable income methods.
Related – How to start making money online
4. Start thinking new
So far, we discussed how to set the background to increase your income. Now we are going to take actions. The first step of increasing your income is to clear all your negative perceptions about life, money, and your confidence. Think new and think different.
Start following a good morning routine to get a refreshing and energetic start every day. Have a good haircut and wear good makeup. Remember, we are on a path to change your life and to increase your income. So, everything matters. Having a better physical appearance will help you to gain confidence and self-esteem.
5. Understand the value of your time
Time is far more valuable than money. And, everyone has value for their time. If you are making $20 per hour from your top income stream, set it as the value of your time. Then, you have to find a way to increase the value of your time.
Try to understand why you are making $20 per hour. What can you do to make it $25? Is it a good idea to learn a new skill that can earn you a promotion? Try to answer these questions and create a list of your opportunities. These opportunities are your investments to increase income.
Remember, we all have 24 hours a day. Jeff Bezos gets 24 hours, Elon Musk gets 24 hours, and you get the same 24 hours. It is the value of your time that makes the difference.
6. Learn to say “NO”
One of the key points of building your personality is not being afraid to say “No”. If something in your life burns you out, say no and stop doing it. We need 100% of your capacity on the right things to increase your income.
Don’t commit to too many things at the same time. Then, you will easily get distracted and lose the quality of your work. If you can make more money by working at another place, don’t be afraid to say no to your current employer. Pursue challenges. And, that’s how you can grow.
7. Network with the right people
We all hang out with peer groups who have similar mindsets. For example, if you are poor, usually you will hang out with other poor people. However, if you need to increase your income, you have to elevate your peer group by hanging out with people who do better than you.
By networking with successful people, you will start learning new concepts, ideas, and tips to increase your income. And, needless to say, you will even get better carrier opportunities too. Don’t feel shy to do this. Every successful person follows the same strategy on different levels.
8. Stop giving excuses
Never ever make excuses for not making more money. Do not have any regrets later in your life. If you try a side hustle, do that on your full steam. If it fails, let it go. I repeat, don’t keep space for you to make excuses for not doing it well.
Learn to take responsibility for everything in your life!
9. Don’t blame others
This is also a part of not making excuses. Stop blaming the economy, the government, your job, boss, your past, or even your skin colour for not making enough money. That will be a total waste of energy. Say no and change the things that you can, and don’t blame the rest.
If you are stuck on a worthless job, there is no point of blaming your boss. Learn a new skill and switch the job. If the cost of living is too high, work on increasing your income to overpower your bills.
10. Start a side hustle to increase your income
You won’t be able to increase your income by sticking on to a 9-5 job. Start a side hustle to make an extra income. Also, develop an entrepreneurial mindset. So, one day, you will be able to translate your side hustle into a fully grown business.
The next step – Find out 30+ side hustle ideas to increase your income
The only key point of this whole post is to change the way you think and work. Get out of the rat race and focus on creative ways to make money and increase your income.