This is quite a long blog post so grab your favourite beverage and let’s get into the meat and potatoes (if you’re a vegetarian, maybe a nice mushroom pie… )
MONEY, it’s one of the most talked about subjects on the planet. “I know that” I hear you say… The lack of it has a huge bearing on our lives and even though many people are still in denial of its importance, financial challenges are one of the three main reasons many people get divorced.
The other two are infidelity and not giving a crap..
Why has it become such a problem?
The world has always been very competitive, we all want equality, but many of us still want to be more equal than others, this is called the “keeping up with the jones’s syndrome”. Of course, there is nothing wrong with wanting to better ourselves and do well, after all, what is the point of life if we can’t savour every drop life has to offer?
The problem arises when we want more than our bank account tells us we can have. We often have too much month left at the end of the money and many people turn to credit cards to keep up.
Fear not. All is not lost. There are ways, but will you apply them?. There is a price to be paid for earning a whole lot more, it’s not always the price people are prepared to pay. For example: Fixing your life financially on a permanent basis really means leaning to a more entrepreneurial lifestyle.
What is an Entrepreneur?:
An entrepreneur is someone who has an idea and who works to create a product or service that people will buy, as well as an organization to support that effort. An entrepreneur takes on most of the risk and initiative for their new business and is often seen as a visionary or innovator
They don’t work 9-5 in a job.
Ok, you do also need to improve the way you use your brain. You can’t keep doing the same things over and over again and expect a different result… that is just so SILLY!!
So, here goes.
The first thing to remember is, you can’t improve your income without improving yourself first. And before you say, “oh no, not that mindset bunk again”, hear me out for a minute. Your current thinking got you to where you are today, keep thinking that way and most likely the rest of your life won’t change much. At the end of the day, the sum total of all our decisions (good or bad) got us to this point..
If you want to excel past this point, you have to create new ways. Not just in how you think, but in what you do. Remember, money is a return based on your actions, if your bank account is hungry, it’s because you starved it by either spending more than you earn or you don’t earn enough to maintain the lifestyle you have.
Money won’t just fall into your lap – and the odds on winning the lottery (the Euro lottery in the UK) are 14 million to one… You could literally live 14 different lifetimes and still not win that badboy..
In truth, the odds of you building an income and making lottery money are better than actually winning it... however, with a population of 67 Million people in the UK (2021), just under 3 million are millionaires, that’s just over 4%. of which a staggering 80% are self made (68% in the US).
What does this tell us?
It tells us that you don’t have to be born into money to become rich. Many millionaires today are family men and women with kids who had debts, a mortgage, financial worries, etc, etc, but the difference is, they didn’t let it stop them..
In other words, they didn’t have a whole lot of excuses…
Anyway… I digress..
I promised you 7 proven ways to skyrocket your income fast and here they are..
- Diversify Your Income Streams: One of the most effective ways to accelerate your earnings is by diversifying your income streams. Relying solely on a single job or source of income can limit your earning potential. Consider exploring side gigs, freelancing, or even investing in stocks, real estate, or other ventures that align with your skills and interests. Diversification not only increases your earning potential but also provides a safety net during economic downturns.
- Upgrade Your Skills: Investing in yourself pays the best dividends. Upgrading your skills can lead to better job opportunities, promotions, or the ability to command higher rates for your services. Consider taking online courses, attending workshops, or pursuing advanced degrees in your field. Equipping yourself with valuable skills that are in demand can open doors to higher-paying positions and lucrative freelance opportunities.
- Negotiate for a Raise or Higher Rates: If you’re employed, don’t be afraid to negotiate for a raise with your employer. Research industry standards for your role and responsibilities, and highlight your contributions and accomplishments. For freelancers and entrepreneurs, regularly assess your rates and adjust them based on your experience and market demand. A simple rate increase can significantly impact your income.
- Monetize Your Passion: Turn your hobbies or passions into profitable ventures. Whether it’s photography, writing, crafting, or consulting, there are countless ways to monetize what you love doing. Start by building an online presence through social media, a blog, or a website. As your audience grows, explore opportunities to offer products, services, or content that aligns with your passion and expertise.
- Create Passive Income Streams: Passive income streams can provide a steady flow of earnings without requiring constant effort. This could involve creating and selling digital products, investing in dividend-paying stocks, or earning royalties from books or online courses. While passive income requires upfront work, the long-term potential can be rewarding as your earnings grow over time.
- Network and Collaborate: Networking can open doors to opportunities you might not have discovered on your own. Attend industry events, join online communities, and connect with professionals in your field. Collaborations and partnerships can lead to new ventures, joint projects, and increased exposure, all of which can contribute to higher earnings.
- Embrace Continuous Learning: The pursuit of knowledge never goes out of style. Stay updated with industry trends, emerging technologies, and market demands. By staying ahead of the curve, you position yourself as an expert in your field, which can attract higher-paying clients, employers, or business ventures.
Conclusion: Boosting your income quickly requires a combination of strategic thinking, skill development, and seizing opportunities. By diversifying income sources, upgrading your skills, negotiating for better compensation, monetizing your passions, creating passive income, networking, and embracing lifelong learning, you’ll be well on your way to skyrocketing your earnings.
Remember, achieving financial goals takes dedication and persistence, but with the right strategies, you can accelerate your income growth and create a more prosperous future.
I hope you got value from this post. If you did, why not give it a share and leave a comment below?
Have a great day