Increase your income several times. How to increase your income? Simple and cool tip for those who want to earn more.
Regardless of whether you started working recently or have already had 20 years of experience behind you, you would surely want to earn more. We can not guarantee that in 2017 your salary will be increased, but we will describe a few simple wayswhich will allow you to increase your monthly income.
15. Check your paid subscriptions
Check the settings of your phone, maybe you pay for those applications that you do not need. Also, consider whether you are overpaying for a telephone connection. It might be worth choosing a mobile operator that offers more favorable rates. Also check the power consumption. Some suppliers offer cheaper rates for using electricity late in the evening. Perhaps you could postpone some household chores for this period. In addition, if you live on the sunny side, then investing in solar panels in the long term can significantly save your energy costs.
14. Isolate windows
Pay bills for utilities can eat the lion's share of your earnings. And oddly enough, window insulation can save you money. According to the US Department of Energy, curtains can reduce the amount of heat lost through windows by up to 25 percent. You can also insulate windows with a special film. Insulation of windows reduces heat loss from the room, thereby saving your costs for this type of utility services.
13. Sell your opinion
If you are already actively using social networks such as Facebook and Twitter, you can earn money by trading with your authoritative opinion. You can collaborate with brands directly and receive money for advertising content of different companies that are placed on your page. According to well-known blogger Morgan Timm, even novice bloggers can take at least $ 100 per post.
12. Automation Savings
Proper account management can significantly increase your average monthly income. Set up automatic transfer of a certain amount to the savings account, over time, the money will begin to work and bring additional income. You can also invest in securities and real estate. Dividends on some stocks can be of great help.
11. Declare your home as an office
If you use part of your home for business, you are entitled to deduct from the tax the cost of renting, electricity, water, gas, Internet and telephone bills. In addition, the state will be able to compensate you for a part of the repair costs if it was necessary for your business.
10. Monetize your blog or website.
If you have a website or channel YouTube, you can earn money by monetizing it. One of the fastest ways to make money on the Internet is to advertise on your site - you will make money at any time when someone views or clicks on an ad. Your earnings depend on the platform and the contract with the advertiser. But if you run the channel YouTubewhich gets 1000 views per day, you can earn an extra $ 440 per year, according Socialblade, a research and consulting company specializing in social media marketing.
9. Claim charitable costs
If you are engaged in charity, you are entitled to tax benefits that can improve your well-being. So, you can cover the costs that you incurred by helping the American Red Cross or a nonprofit school or hospital.
8. Pay off your debts
The common phrase - “you need to spend money to earn money” - is actually not about paying off debt, but it’s also suitable for this case. According to a 2017 study Northwestern mutual, 47% of Americans have debt of at least $ 25,000, excluding mortgages. And 45% spend half of their salary to repay a debt. If you are dealing with consumer debtespecially with by credit cards with higher interest rate or credit lines, then try to cover your debts as quickly as possible. The faster you pay off your debts, the less you will pay for interest.
7. Childcare leave
If you are fortunate enough to work for a company that offers employee childcare services, these benefits can significantly affect your salary. Full-time expenses average $ 12,781 in Massachusetts and still range at $ 3,997 per year in the least expensive Mississippi state. Thus, getting free or low-cost child care can be a great incentive to increase your salary. Even if your company does not offer day care on the spot, you can get benefits that can increase your salary. For example, Yahoo pays employees $ 500 for essentials for a newborn.
6. Work in holidays
Of course, those who work harder earn more. But it is not necessary to spend many hours at work, sometimes it is enough to choose the right shifts. If your employer pays a double rate for work on holidays, then consider the option of working on weekends. Not always work during the holidays will prevent you from relaxing and having fun. On long holidays, you can set aside several days for work that is paid at a double rate.
5. Renting an apartment
If you live in an expensive city and travel frequently, think about renting out part of your house or apartment, for example, through the site Airbnb. In addition, if a guest stops for 14 or less days, then you do not need to declare the amount as taxable.
4. Create and sell
If you have a delicate taste or enough adventurism, you can sell goods on Etsy or eBay. It can be both hand-made and restored old things. In addition, you can put up for sale and unnecessary things to you. Thus, you will clear the house of trash and earn some money. If you take pictures, you can sell your work on stocks, which will also bring you a small income.
3. Subtract business expenses
If you have business expenses that cannot be reimbursed, they can be taxed, explains Josh Zimmelman, founder Westwood Tax & Consulting. Eligible costs may include continuing education fees. If you plan to use this method of saving, be sure to keep receipts. You will need to demonstrate that everything you spent was a legitimate business expense if you ever encountered an IRS audit.
2. Do sports at home
Being fit is critical to maintaining a high quality of life. However, gym membership can be expensive. Statistics Brain reported that the average subscription to a fitness club costs $ 58 per month, if you live in more expensive states, then this amount may be more than $ 100. You can increase your average income by selling your subscription and starting to play sports at home. Run in the parks and the surrounding area, ride a bike on weekends. Go in for fitness using videos on Youtube.
1. Work from home
Getting to work every day is not only difficult, but also quite expensive. Study Citigroup showed that transportation costs of Americans averaged $ 2,600 a year. This is about $ 216 per month - you could save a significant part of this money if you reduced the number of movements or worked from home. Ask your boss to let you work from home a full week or several days a week. Programs like Skype, Slack and others greatly facilitate the work in a remote format. In addition, home mode can be more productive than office mode.
This is a training article, which consists of 2 parts - theoretical and practical. The first part will give you an understanding of the aspects in which to work on yourself. Exercises in the second part will help answer the question “How to increase revenues in 2018?”
Therefore, dear readers, stock up on a piece of paper and a pen before reading the article.
Part 1. Theoretical part
First you need to figure out what types of income are and why you need to increase them. Our mind is designed in such a way that no matter how much money we receive, we quickly get used to the amounts that come to us and spend money based on how much we earn.
What does it mean? Imagine your salary is $ 1000. After some time, you began to receive more, and your salary was already $ 3,000. What is changing in your life? First of all, its quality is changing. You begin to spend money on something you could not afford before.
You go to other stores, buy branded clothes and eat at more expensive restaurants. Perhaps you will take a car or apartment on credit. If you are renting an apartment, you will want to move to a better apartment, or change the old car to a new one.
Your travels and your holidays will also change qualitatively. You will go to other countries, buy other clothes, eat other products, go to other restaurants and so on.
Then you will understand that the amount of money that you receive, end-to-end, is enough for your expenses. Sometimes you even have to borrow money from friends. What happens in this situation? With the growth of your wages, your needs will grow, and one way or another, your expenses will catch up with your income.
The reverse circuit also applies.
Imagine that after the crisis you began to receive much less money, for example, you received $ 3000, and began to receive $ 1500. Your income has decreased by 2 times. Then your expenses will adapt to your income, and you will begin to save.
What is saving? Saving is a loss of quality of life. When saving money, a person buys lower-quality goods and services, reassuring himself that at the current moment you need to be patient, you need to wait, and he is “happy with everything”. In this case, your expenses will also be adjusted to your income. Once again, you will run out of money, and you will have to take extra work or think about other ways to increase income.
Therefore, the first step to increasing revenue is to determine the goal of generating superprofits. To do this, answer the following questions:
- Why do you need to increase revenue?
- What are you not comfortable with right now?
- What quality of life would you like to achieve?
If you are satisfied with the state of affairs that exists, then you do not need to receive superprofits, and accordingly, you have no motivation to create additional money. If you understand that your financial situation requires improvement, then this article will help you work on them.
An important point is also the presence of goals in 2018. If additional money is needed for their implementation, then you will have additional motivation to deal with this issue.
How not to lose the earned income in 2018?
First of all, you need to change the way you manage your personal finances. Without this, any increase in income will lead only to a slight improvement in the quality of your life, but in the long run it will not lead you to Financial Independence.
It is also worth determining what level you are at now and audit your personal finances. To do this, let's define the basic terms:
- Active income (YES) - you work for money, that is, you exchange your skills, experience, knowledge, competencies, time for the equivalent in money.
- Passive income (DP) - your money works for you, for example, deposit, rented apartments, copyrights, franchising and so on.
- CASH FLOW - this is the amount of money that remains after you have received all your income (active and passive) and took away all expenses (see article “”).
So, our task now is to focus on making you learn to earn more. To do this, we work with active income (YES).
Step 1. We begin to count our personal finances.
Understanding how much money you get and how much money you spend will already give you an objective assessment of what is happening with your money. Therefore, Step 1 is an audit of your financial condition.
Step 2. It is necessary to fix the expenses that you have and determine how you will continue to spend money
To achieve a positive CashFlow, there are two ways - increase revenue or reduce costs. Which of these paths is correct? Someone chooses the first path, someone the second, and the truth, as always, is in the middle.
Our task is to increase revenues, but also reduce costs. Some of you have heard that you need to save, because now is a difficult time. However, any saving leads to a decrease in the quality of life, and our task is to only improve the quality of life, as this gives a feeling of joy and fullness of life.
And here it is worth introducing such a term as cost optimization.
What can be done in terms of cost optimization?
- Refuse unnecessary spending. If you analyze where you spent money in the previous month and think about whether you really needed to spend it, you will realize that part of your expenses were completely optional, and you could refuse them without loss of quality of life.
- More competently direct your financial flows, so as to spend less money without losing quality. For example, you can buy products not in large markets near the house, but go to hypermarkets, where prices are lower than in an ordinary store, by 10-30%, especially if you take more than one package, but several. If you come to a large store every 2 weeks or once a month and buy for future use, you can save some of the money without losing the quality of the products. It is also better to come to the store with a list of goods so as not to buy extra products.
For those who drive a car, cost optimization suggests that you can refuel the car at good gas stations with a loyalty program. It provides an opportunity to save 10-15% of the cost of fuel.
As for travel, you can plan your trips in advance and only on this save 30-50% of your budget. Because both airfare and accommodation will cost you much less if purchased in advance.
The same goes for other costs, such as training. If you buy a training program or training course in advance, you can save about 50%.
You can reduce the cost of mobile communications by analyzing your costs and choosing a more optimal tariff plan. Or use the second number of another operator. When choosing a mobile phone, please note that many flagships of Chinese manufacturers are 2-3 times cheaper than Apple or Samsung products, performing the same tasks at a fairly high level.
These are just a few examples of how to optimize your expenses. On average, you can reduce your costs by 10-20% due to optimization.
The second way to get extra money is to increase income
And again there are 2 ways - linear and non-linear. The linear path is an increase in income due to more working time, for example, part-time work, overtime, and so on. But this path has its own limit. You cannot work more than a certain number of days per month or hours per day, because otherwise you will be physically and mentally exhausted. And this work will no longer be your joy.
The non-linear path suggests that with the same amount of time, you can work more efficiently. Those who work in hired work need to increase their competencies and the value of their hours. For those who are engaged in their own business or entrepreneurship, it is necessary to look for new opportunities to increase income, for example, the search for new business areas. Thus, you can increase your income without additional investment of time.
As a result, if you have learned to count your money, if you know that a certain amount of money comes to you regularly, if your costs become fixed, then already next month You will see how your CashFlow increases significantly.
What to do with this money?
There are two ways again.
- The first path is the path of Scrooge McDuck: all the money is saved, and you live in the spending mode that you had before, without increasing your standard of living.
- The second way is to spend all the money earned from above on pleasure, on purchases, on trips, and so on.
Here also the best option would be the golden mean. The ideal option is one in which you increase the quality of your life, and at the same time learn to save and save money. Because you may need them in almost a year.
Here's what the ideal option looks like: put aside half the money that you earned extra, and spend the other half.
For what? If you are a man, spend this money on your wife, children and your family, and only then on yourself. If you are a woman, spend them first on yourself, then on children and husband. Spend this money on improving the quality of life, on shopping, hobbies, leisure, travel and things that bring you pleasure.
And yet, be sure to save 10% of the money that you receive for charity and for helping loved ones who need it.
First of all, these are your parents. Now the pension that our parents receive puts them on the level of survival and it will be very difficult for them without your help. Therefore, 10% of your income should be sent to help relatives and charity.
Another 10% is the money that is worth spending on training or improving your competencies, so that you can increase the value of your hour and earn even more money.
So, today we find out 10 tipshow can we begin to put into practice a new way of thinking that will help us, with the same labor costs, earn income several times more.
Are you interested in learning how to increase your income several times?
“Most of us know the principle “How much money is in the head, so much money is in the wallet”. And many even agree with this expression. But here's how to apply this principle in practice, how to learn to think so that money flows into your life easier and faster, with this there are already certain difficulties. It is one thing to understand, and quite another thing to use this knowledge in practice. With this, I think, no one will argue.
Ten tips on how to increase your income several times:
1. Write right now on a piece of paper what income you want to receive in half a year, in a year.
2. Formulate these numbers in strong and inspirational sentences. For example: I want to .... the number is easy and fun to earn $ 1,500. Try to constantly repeat this phrase to yourself at least once every few days. It is advisable to hang this phrase in your home in a prominent place so that your subconscious mind reads it as often as possible.
3. Sit down and write down at least 10 ways to increase your income. It can be either very real or a little fantastic ideas. The main thing is that you express your intention to earn more.
4. If you have long wanted to buy yourself some necessary thing (or just wanted to make yourself a gift), but you constantly refused or postponed it for later, do it now. Thus, you unlock your cash flow.
5. If you save money and save it, think about why you are doing it. If you put it off for a rainy day, it’s best not to. If because you do not believe that you can earn more, this is not an option either. And only if you earn enough and save it with pleasure, then you are on the right track. The main criterion is pleasure. If you have unpleasant or painful feelings when thinking about money, shopping, or putting aside a certain amount, then you are not taking money correctly.
6. Write down on a piece of paper all negative thoughts, beliefs, phrases in relation to money, wealth, rich people. Do not convince yourself that you do not have such thoughts. If you are not a millionaire yet, then you must have them.
7. Write opposite each negative phrase replacing its positive. Tear the leaf in half and burn or tear negative beliefs. Within 2-3 weeks, carry a sheet with positive statements regarding money and re-read it from time to time.
8. Analyze how your parents treated money. What did they say about them. Draw a parallel with your today's financial situation. What are you copying parental settings to? Replace them with those that are right for you.
9. A great idea is to make a collage where you post a photo of yourself in the future, where you look successful and rich. Be sure to stick a photo of the money in the center. Hang the collage on the wall and admire it every day.
10. And most importantly - do not be afraid of big money and take real steps to increase your income. I can assure you that any of you can easily increase your income for 1 month by at least 30%. I emphasize the "minimum." Start increasing your income a little each month. Keep writing new ways to increase profits. In fact, there are a lot of them, you just need to want to see them.
Each person has his own ways of attracting money. And it is right. What works for one person can be harmful for another. Therefore, follow these recommendations, but listen to your inner voice. Perhaps you will feel that some exercise is contraindicated for you (although your blocks and fears may interfere here), or you may come up with some unique methods of your own.
The most important thing is to realize that you can receive a large income in any country and in any, even the most difficult situation. You just need to stop feeling sorry for yourself and finally start looking for a way out.
Each person, regardless of his social status and age, deserves to live in abundance and allow himself to buy what he wants, and not what he can afford. Let this thought into your consciousness, and it will do all the work for you. Allow yourself to live in abundance. Believe that you deserve it.
We get exactly as much money as we agree to let into our lives. Do not be afraid to increase this flow. Let him enter your life. ”
I hope you enjoyed this article as well. like me. And you are ready to change your life right today, applying these simple and effective tips, increasing incomes not only in your head, but also in your wallet.
To achieve a balance of personal or family budget it’s important not only to reduce unnecessary costs, but also increase the amount of income to the piggy bank of the family - the cell of society.
How to increase family income? No need to think that this is possible only when moving to a more paid job or by increasing the load. There are methods to get the extra amount more efficiently.
General approach
To begin with, let's look at standard options increase in cash receipts:
- salary increase;
- change of work to a more profitable one;
- second part time job;
- all kinds of side jobs.
Of course, taking on a colossal amount of work is very difficult, therefore you must initially try to choose a profession with a decent income. Your career, and therefore earnings, will largely depend on which school you graduate from.
The best option is to decide on the desired profession during your school years, so that you don’t spend too much time looking for yourself in life.
Being behind the school bench, it’s quite possible to plan your path in the future, to consider options for getting an education, getting a job and the amount of money received in the future.
Minimum work - maximum payment
It is believed that the main income depends on the main job, but this is not entirely true if you correctly approach the matter.
It is possible and necessary to make assets bring money, and at the same time, work a little independently.
Experts often call fundraising from assets financial independence. Such earnings will really replenish the budget, regardless of the influence of many factors. This type of earnings is not affected by the employer, the physical condition of the owner of the assets.
By choosing the right types of assets and using them with the least risk for yourself, you can significantly increase their efficiency and your well-being.
On the social benefits and tax incentives it’s also possible to earn some money if you take this type of income seriously. For example, many forget about return personal income tax from the budget based on the cost of buying a home, paying for treatment or education.
The share of receipt of state money in the personal budget will directly depend on the success of the person himself. The better the student studies, the more scholarship he will receive.
To get a decent income, it is not necessary to spend day and night at the workplace.