In the beginning of 2016, “How to earn more money” is a dilemma for many people. Improving your income is one of the best long-term investments you can make, and the time to begin is right now.
All of the key parts of personal finance were bound up in the single phrase, “Spend less than you earn.” In those simple five words, one can find all of the key ideas of personal finance.
There’s a call to spend less money by cutting back on one’s expenses, particularly the less necessary ones. There’s a call to have a “gap,” where one has money left over at the end of each pay period, and to do something smart with that money. There’s also a call in there to earn more money.
Most of the actions that people take toward earning more money do not have immediate results. You often have to invest a lot of time and effort into earning more money in order to see even the first small positive impact on your income levels.
Earning more can have a much bigger long-term impact on your financial state than the other options, but it requires time to implement and time to see the positive effects. You can’t just flip a switch and see results.
You need to take the long approach when it comes to earning more money. Plan ahead and put yourself in a position where greater income is a likely result, even if it means investing time and effort without immediate returns.
Need a game plan? Here are a few strategies you can implement over the coming year in order to improve your income.
Leverage what you have
Simply leverage what you have through trading, buying, and selling. Perhaps you have a box full of yarn and a knitting skill. Just leverage those things to transform the yarn into something of value, like a scarf or pullover, which can be sold somewhere. Maybe you have a collection of trading cards that have been in your closet for years. Invest the time to figure out exactly what you have and sell them for a reasonable price, turning that time and the stuff in your closet into money. You have spare time. You have stuff in hand. Combine the two to produce money.