Adding Small Income to Your Income

If you want to be richer, then increasing your salary is just one option. Just as effective can be decreasing your overheads (saving more money), investing your cash or adding supplementary incomes to raise your overall profit and net worth.

The great thing about these latter strategies is that they are much more closely in your control that your salary. Your salary, unfortunately, is dependent largely on how much your employer is willing to pay you. If they won't pay you more, then you're stuck.

When it comes to outgoings though and subsidiary incomes, these are much more flexible and manageable and you can apply smart money management. Better yet, you can apply a 'kaizen approach' of continual, small improvements in order to increase your profits.

So how do you go about getting additional income in a small and steady way? And just how powerful can this be?

Side Jobs

If you're willing to take on additional work, even if it's a very small regular task, then this can be a great way to increase your income overall.

This might mean working a coffee shop part-time one evening a week which in turn could earn you $100 dollars. That's then $400 a month and $4,800 a year on top of your salary. For a minor inconvenience – that might also be quite fun – you just took a standard salary of $40,000 to an impressive salary of nearly $45,000.

Working Online and Running Your Own Side Business

Don't want to work in a coffee shop? You could look into becoming a mystery shopper or even working online to do some copywriting or even commentary on sports. You could even run a blog and make money from advertising – writing about something you find interesting. Or why not become an online reseller? Just sell the items you no longer need? If you have a skill – like gardening or hairdressing – then you could do this for friends to supplement your income too. There are countless options and there's almost certainly something you can fit into your lifestyle.

Other options include investing your money. If you are someone who has a good understanding of finance and investment, then you can take your salary and invest a small portion of it wisely to increase your income.

If you're struggling with money, the point to bear in mind is that it often only takes one small change to make a really big difference over time. Small changes have a cumulative effect and this is what makes kaizen so powerful.

It's important to remember that small actions can make a difference in your lifestyle. 

What actions can you take today to make a difference in your life?

Until next time...

Cheers!

Lisa