Is Increasing Income in Your Money Plan?

So much of the financial advice we hear and read is about cutting back – we even have a new term, the Frugalista – to glorify doing with less.

The Frugalista Files

 

 

And yes, sometimes we find ourselves overspending. But, over the last 20 years, we’ve seen the trend that has most middle-class workers earning less, in real dollars, while the basics increase in cost. So, I prefer to focus on increasing income as a solution to the financial freedom quest.

It’s not always as easy as skipping the latte but it’s ultimately more powerful and can help you maintain a lifestyle full of experiences (and, yes, stuff) that you truly love!

 

So, I was happy to see this from Mint.com (via Credit.com) in my info stream today:

5 Ways to Jumpstart Your Emergency Fund

Their suggestions include:

  • Automatic savings from your current income.
  • Selling extraneous stuff.
  • A second job.
  • A side business (using current skills).
  • And (a bit oddly, IMO), an aggressive change dish strategy.

I’d challenge you to pick ONE maybe TWO ways to increase your income (not just your savings) and start taking action on it today.

Also, consider the short-term, one-time cash infusion (like selling some of your stuff) verses the longer-term solution (like starting a business and acquiring new skills). You may need a bit of both but if you can do only one, choose the long-term solution.

Think you don’t have any extra money making skills? Check put Fiverr.com to see some pretty creative ways of earning a few extra bucks! If this guy can sell: I will draw your logo and write your message on my hand and give you thumbs up for $5 what can you dream up?

I’d love to hear your suggestions! Tweet, comment or pin yours.

Live Long and Prosper, Leah the Money Diva

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