When it comes to tightening the belt and preparing a budget, most people immediately think about cutting back household expenses. Most don’t consider the possibility of increasing income. While it seems harder it is definitely the greater opportunity.
Who cares what you spend if you have more than enough income to cover it right?
It is ‘poverty thinking’ to put limits on your earning capacity. Your income is only ever fixed or limited in your own mind. Most people stay poor because they merely sell their time and do no more than earn enough to get by.
Time-based income will always be limited because you only have 24 hours in a day, 7 days in a week and 52 weeks in a year to sell. To remove the limits on your income potential, you must disconnect your income from the amount of hours in a day or the time you have for sale.
The ideal way to earn more income is to set up a system of earning that doesn’t necessarily require you to report for 9-5 duty. This means making something and selling it over and over; or leveraging off other people’s time, money, products and services. Wouldn’t it be great to have a stream of income that you didn’t have to get out of bed to earn?
One of the great advantages of this type of income is that is keeps coming in even if you are sick or can’t work. It keeps coming in while you are away on a holiday, or travelling around the country. best of all, it keeps coming while you are sleeping.
For most people, the reality is likely to be a combination of time-based (employed) earning and leveraged or recurring earning. So here is a mixture of ways to earn a little extra cash to take the pressure off your household budget.
- Rent a room
- Take in a boarder
- Participate in online surveys & referrals
- Get a part time job
- Change your job
- Ask for a raise
- Earn interest income
- Earn investment income
- Start an online business
- Make and sell something online or offline
- Provide a paid service
- Network marketing
- Affiliate marketing
The best way to start something is to get out and about and socialise with others. Very few people ever succeed on their own so look for other people with the same problem and see if you can solve it together. It might be necessary to do a course or get some advice before you start.
So give it a go. If you never try, you will never know what you can achieve.