The two most important things about personal finance is:
- Spend less than you earn
- Earn more
You can achieve this by either working on one or both of the areas. The goal should always be to increase the gap between these two areas. You ask how to this? I will write a short series of blogs to cover some of the things one can do to achieve this goal. If you have any questions or comments please let me know.
Today I will cover the first concept of this short series.
How to earn more money
A lot of people think that in order to earn more money you have to work harder in your current job and hope that you get paid that all illusive bonus at the end of the year. Well I have news for you, they called it a fixed income for reason!! Also, always keep in mind that your bonus is not guaranteed (Unless your contract says so). I am not saying that I have the solution to you earning more money but everyone and anymore can do the following to earn more money:
- Get educated
- I am not saying leave your current job, you can learn new things while you are employed. The world is filled with amazing platforms such as YouTube where you can learn many skills which you can use to negotiate your increase because you will have more to offer. If you are looking for a more formal way of learning have a look at com, they have great free courses you can take at your own pace in the comfort of your home. You can also have a look at the below images for other platforms. Source https://tfetimes.com/ultimate-list-of-educational-websites/
- More income streams
- Your 9-5 doesn’t have to be the only thing that pays you. Always be on the lookout for how you can use your skills (even the new ones you have just acquired) or passions to earn an income i.e baking birthday cakes, becoming an event planner etc…
If you have any questions relating to the above please leave a comment and feel free to share this post.
I will be posting the next topic next week 24 Wednesday 2017. #YoungInvestor