There Are Only Two Ways To Improve Your Financial SituationJun 24, 2022
If your Ideal Life looks anything like mine, it will cost some money. I don't know about you but I want to travel, create experiences, and enjoy some nice things. Some of you may be in that same boat and some of you may not. If you aren't organized with the money you have coming in, it will be difficult to live your Ideal Life because you'll most likely have a lot of wasted money.
Just by getting organized, you'll be able to do a lot more with what you have. However, sometimes you are as organized as you can be but you still aren't getting ahead. First, we need to acknowledge there are only 2 ways to improve your financial situation.
1. Reduce Your Expenses: Simple budgeting habits can help you with reducing the wasted spending almost all of us have in our lives. If you need help putting together a budget, check out my budget course where I teach you a proven philosophy to put together a budget that works.
When you budget, you make yourself aware of the areas you need to reduce your expenses. You need to ask yourself what you are willing to sacrifice in order to reach your goals. There are also things you probably won't be willing to give up so be aware of that. But even if you got really organized and reduced your expenses as much as you can, sometimes it's just not enough. After all, there is only so much you can do to cut costs before you just don't have anything left to cut.
If you find you have reduced as much as you can but still need or want more money to live your Ideal Life, your budget might not be the problem. Your problem might be you don't make enough money to live the life you want. So, what do you do about it?
2. Increase Your Income: The only other way to improve your financial situation is to increase your income. There are many ways to make extra income in today's world, but where do you start?
First, let's talk about some of the ways you can increase your income:
- Get a raise at work
- Apply for a second job
- Do extra work for friends/family for extra cash
- Start a small side hustle to bring in extra money
- Create a full-fledged business to generate more income
Everyone is different, so you need to find the best way FOR YOU to increase your income. If this is where you are, there is hope. Come check out the Ideal Life & Money Academy - where we go into depth on how you can reduce your expenses and/or increase your income.