Personal income: 3 working ways to increase it

The more you work, the more money you have. This statement is only half true. A person who does not know how to manage finances loses significant amounts. Please note that not all rich people work hard 24 hours a day. At the same time, they wisely distribute the available funds. After all, personal income is made up of more than just wages. The secret is that the budget depends on expenses no less than on income.

Perhaps your salary is not so small. Or to improve the financial situation, a small part-time job is enough. Let's look at three approaches that will help you optimize your budget.

Method number 1

Learning to save

Nobody encourages you to follow in the footsteps of Scrooge McDuck. Saving is, first of all, a clear understanding of your budget and how much money you can spend. Make a list of income and expenses. Write down the mandatory expenses: utility bills, food, Internet, etc. The amounts that go into this column are subtracted from the total income. We get free money. You can send them as you wish. Now we plan purchases intelligently, breaking down the approach to savings into three points:

• cut costs
• analyze sales
• save money

We cut costs

The first point seems to be the most understandable. However, you need to cut costs wisely. Giving up desires can lead to a decrease in motivation. Why earn a lot of money if the standard of living is still low?

Decide what little things improve the quality of life for you. And never give up on them. Do you feel successful buying delicious coffee every day on your way to work? Or does self-esteem grow along with a salon manicure? Perhaps these expenses are not the most reasonable. But they are an important stimulus for development. Be sure to include them in the monthly expenses column. And you can save money on other things.

For example, in food. Carefully! Its quality should not suffer. Otherwise, significant amounts will remain in the doctor's office. But often go to cafes and restaurants (surprise!) is not necessary. Even cheap fast food hits the pocket. Learn to cook your favorite meals at home. If you notice promotions, you can buy useful and inexpensive products. Also, pay attention to fuel consumption. Sometimes it's better to walk or take the subway.

Analyzing sales

The word “analyze" was added for a reason. A sale is a successful marketing ploy designed to profit the seller. The buyer will be left in the cold if he is not careful. Instead of one necessary thing, you can pick up a cart of junk cheaper. But the savings are obvious if you control the process. Personal income will grow noticeably when you do not overpay.

Those who plan big expenses in advance win. A great way to save money is to buy an expensive and high-quality item on sale. It is better to take care of good things than to buy new ones every year.

We save money

We are talking about a financial airbag. You never know what might happen. Personal income is an unstable thing. It is beneficial to take the required amount from savings, and not get into debts and loans. Therefore, we advise you to have a reserve in the amount of at least a monthly salary.

In addition to a reliable amount for a rainy day, a bank account will not hurt. Put a percentage of your salary there. To save for a reason, come up with a goal. Let's say buying a new car or apartment. A nice bonus: you will receive a percentage of the bank. After all, the larger the amount in the account, the greater the profit.

Method number 2

Looking for extra income

Think about what can bring you money. Don't be limited by stereotypes. So, in order to rent out living space, a free apartment is not required. Enough even an unoccupied room in the house. Surely someone will want to remove it for a long time. Or take a chance and offer it by the day. For example, on the website airbnb.ru. Even a few guests per month will increase personal income.

Here are a couple more ideas:

• monetize a hobby
• we invest money
• mastering freelance

We monetize a hobby

Think about how you spend your free time. Do you do something useful in your spare time? Then you can increase your personal income without a new job. Sale of knitted things or handicrafts, delicious pastries, portraits to order … This and much more is worth a lot of money. It remains only to put the hobby on stream. Learn to make money doing what you love. Learn more about hobby income here.

Perhaps a hobby will be a good help?

We invest money

Stock markets live by their own laws. Knowing them, you can get a good profit. But even the largest companies are not immune from the fall. Ideally, investing is suitable for people with an understanding of economics. If this is not about you, do not rush to give up. Knowledge can be obtained. Careful self-study will be the guarantor of success. Read special books. Listen to lectures on financial markets. Knowledge of statistics and probability theory will not hurt either.

Study the currency market, follow the fluctuations. It doesn't matter if you are interested in the dollar or the altcoin. Remember the basic principle: buy low, sell high. Going into business with your head is dangerous, especially for a beginner. To get started, invest a small amount somewhere. Please note that this money may not be returned to you. Think of them as payment for practice. After all, to form your own strategy, you need constant practice. And our material will help to avoid many mistakes in dealing with cryptocurrency  .

Be patient. With the right approach, personal income will gradually increase.

Mastering freelance

Here we are talking about your main profession. Find out how you can apply your core knowledge outside of an official place. Thus, the main income of a teacher often does not consist in salary. The teacher receives large sums for tutoring. Philologists and journalists write articles to order. Connoisseurs of foreign languages ​​successfully translate texts.

There are many examples. The main thing is to choose one that does not upset the balance of work and leisure. Calculate the forces correctly. And personal income will thank you.

Method number 3

Investing in knowledge

In fact, we are increasing spending on education. But in the end, we still win. Because the price of services grows in proportion to the level of the specialist. Ask yourself the question: “What skills do I need to get more?”. Knowledge of another language, possession of new programs? It's time to pump professionalism.

An excellent option is advanced training courses. The good news is that you can save money on them. Management is interested in successful employees. The higher your skills, the higher the personal income of the company. Found good courses – contact the boss. Here and the initiative, and the desire to develop. So it's not far from the rise.

For those who are willing to spend a lot of money and time, a second education is suitable. Have you heard that it is as useless as the first one? Everything depends on you. Add a related specialty to your specialty. Journalist with a diploma in PR. Marketer with knowledge of economics. Your price in the labor market will double.

Books, podcasts and online lectures are made for the busy. You can even watch them on the subway on your way to work. Develop!