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How to increase your income and change your monetary thinking

This WordPress post provides practical strategies to help you improve your financial life through increasing your earnings and changing your money habits. By assessing your current spending habits and budgeting responsibly, you can review your income and create a plan to maximize your earnings while rethinking your attitude towards money. This post provides various tips on how to create multiple sources of income, as well as provide guidance on how to secure investments and prioritize income goals. It ultimately leads to a more comfortable, prosperous financial life.

The current trend is financial independence. You need to be able to handle money so that you not only lose what you have gained, but also increase your income. We talked about several ways you can increase your income, and also asked experts what they think about financial success and what they can advise on this..

Choice: get richer or start saving

increase your income

According to statistics, the majority of the population suffers from a problem with the general wording “Not enough money”. It can be considered from the side of “expenses exceed revenues.” Then the person begins to tune in to the fact that it is better to cut costs, thinks about where to save an extra penny. If you rely solely on savings, then this is a failed approach, not only not able to lead to financial independence, but also leading to a drop in the quality of life. Desires cease to play a paramount role and are limited to a minimum, with an eye to needs. Saving should be, but it should be reasonable, not total.
It is better to approach the solution of the problem on the other hand – “Income does not reach the expense.” It would seem that the wording difference is small. But here the desire to increase profits, and not to personal restrictions, is realized. A person is looking for additional sources of income in order to realize his own desires. He who seeks will always find, and most importantly, you will begin to notice the opportunities flowing past. In this way, you can understand how to increase your income.

The prohibition to be rich

Increase your income

Money is one of the most difficult and forbidden topics. It causes a lot of feelings and emotions, because it is so difficult to answer the question: “How much do you earn.” Someone else’s wealth causes envy.

Psychologists have even coined the term “monetary stress effect”. It describes the emotional oversaturation of people’s attitudes toward finances and the relationship between people in situations with money. Often the cause of financial distress is family education, cultural or religious dogma, experience.


Some experts recommend the following exercises to determine your personal attitude to finance:


  • Identify and write out all personal negative thoughts about money, wealth in general. These should be the first judgments that come to mind..
  • Then identify the same judgments, but sounding on behalf of parents, friends, acquaintances and relatives.
  • Now they are the same, but from the lips of your environment in the period of youth.
  • Match Lists.

It is likely that opinions will converge. There are many similar attitudes at the subconscious level, and we must fight them. We must not be afraid of wealth, but direct our efforts to increase our own profit.

Natalya Chukhrova, the coach, says: “It is always worth starting with the goal. In coaching, there are a number of questions that help to understand the topic of income:

  • How much do I want to receive per month, year, for five years? Look carefully, are you concentrating on one figure, or are you laying a certain growth? If the figure is stable, then perhaps you do not believe that income can grow over time or do not understand how to do it. Designate the goal. See how realistic it is? But ambitious? Find a balance. And do not be afraid to set big goals, it’s more difficult to “miss” them.
  • Why is it important for me to have this particular amount? This question will help you increase your motivation to increase income. After all, the answer to the question “why” often becomes the engine to the question “how”.
  • What do I have now? This will show starting point A.
  • How am I able to do this? Tell yourself in detail about your skills, habits and abilities that help you have a current income..
  • What I can do best?
  • How can i use this? What are the next steps? Everything is simple here – we are planning an action plan ”.

Ways to Increase Revenue


Ways to increase your income can be different, have a different focus and require different efforts. Nevertheless, listen to each of them..

Method number 1: Save money

increase your income

Many books have already described the rule: save 10% of the money earned. This is a saving for good. The amount received in a few months is unlikely to change anything. But within a year it will become a serious base for unforeseen situations and an aid for investments. This is the main action that will help you take the first step towards increasing your income..

Method number 2: Refuse unnecessary spending

increase own income

Money should not go nowhere. When they spend money on unnecessary trifles, they are unlikely to come back in even greater numbers. Finances need to be allocated correctly. You need to understand how much you really need this or that purchase, investment. This is a reasonable saving, which in turn will also help to understand the question of how to increase your income..

Tip: take 15 minutes, take a plain sheet of paper and a pencil (or excel). Start writing out what you spend money on and cross out the costs you could manage without.

Galina Khvostova, a sales expert, says: “Start with financial self-discipline. Take control of expenses. No impulsive shopping. Write in advance what you want to buy. If you want to buy something impulsively – write it down in your notes. Come tomorrow and buy. If you don’t change your mind. Without financial self-discipline, increasing income would be like racing in a circle. Your expenses will grow at the same time as your income and as a result, no matter how much you earn, you will always be at the “plus or minus zero” level.

Method number 3: Be careful about money

increase your income

Rationalization of costs allows to achieve a tangible effect. In some situations, money can be saved or not spent at all by correctly approaching the issue. For example, work with banks. Withdrawing cash from another company’s terminal requires a fee. Therefore, abandon the habits that pull you out of finances just like that: unnecessary paid subscriptions, the most expensive fare for transport, or, for example, an ordinary bottle of water from an expensive supermarket.

Method # 4: Record Ideas Regularly

increase your income

There is one simple technique that allows you to overcome a long distance on the path to consistently high income in a short time:

  • Prepare a notebook and pen (or again excel).
  • At this time, move away from all affairs and worries, turn off the phone and just think. Get a little brainstorming.
  • Write down all the ideas that come to mind, even not the most reasonable ones, if they relate to finance, increasing personal income, creating new sources of profit, ways to study useful material.
  • Develop ideas that come to mind, highlighting clear paths for realizing your plan.
  • Give this exercise 15 minutes a day..

Sooner or later, such classes will come up with a really useful idea, help to see the picture clearly and clearly.

Method number 5: Explore your resources

increase your income

Use all available resources correctly. For example, if the house has a free room, do not miss the chance. Explore the market and find out prices by invoicing your rental. Often people need ordinary things like a bicycle, clothes, etc. All this can be rented out..

Method number 6: Invest

increase your income

Investments will help to significantly increase your income. There are many great companies whose stocks appear on the stock market. Promising stocks can bring you a significant portion of the profits and dividends..

It makes sense to consider other exchange products. Such as ETF funds and bonds. In order not to burn out, invest money long-term, diversify your portfolio and read financial statements before you buy shares of a company.

Method # 7: Think About Business

increase your income

Become a businessman. There are different paths to entrepreneurship. For example, the story of one person. Let’s say his name is Anton. He was a good sales professional in the bank card processing market. His task is to go from client to client and offer them company services. At some point, Anton thought that nothing prevents him from doing the same, but without an intermediary – the employer. Anton went directly to the card processor and signed a service distribution agreement with him.

Probably, you should not immediately attract investment in the project. It’s better to run around a bit, to work, getting the result. Investors like to help entrepreneurs who can succeed on their own.

Tip: do not chase an innovative idea, but get involved in a “boring” business. It makes no sense to take on really hard work. It makes no sense to develop a supernova and unique idea to increase personal income. Begin with a normal and useful lesson, but do it better than others. Small and mobile companies compete with mastodons, steeped in obligations and securities, often offering the best quality products, relationships and customer contact at a new level. This allows them to grow, and, accordingly, grow the income of the owners..

Method number 8: Know your goal

increase your income

Set clear goals. As a rule, a businessman wants to earn as much as possible. However, only one in a hundred will say that he wants to earn a million a month every month, completely surrendering to his business. Therefore, it is extremely important to clearly formulate goals, for example: “I want to earn 10 thousand more in 2 months”.

Improving your financial condition, you need to remember that money is a means that can change lives. They should not be turned into an ultimate goal, but remain a step towards its achievement..

Zamir Shukhov, CEO and partner at Global Venture Alliance (GVA), says: “Raising your own income is not a myth, but an absolute reality. I believe that a person can make good money with his own labor and with his own strength if he finds his niche and can create some kind of value for people for which they will be willing to pay. I am inclined to believe that entrepreneurship is one of the key sources for increasing one’s own income ”.

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Comments: 2
  1. Juniper

    What are some effective strategies or techniques that can help individuals boost their income and transform their mindset towards money?

    Reply
  2. Lincoln Cooper

    “Are there any effective strategies or mindset shifts that can help one increase their income and transform their financial perspective? Any tips or advice on how to break free from limited monetary thinking and develop a more abundant mindset?”

    Reply
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