When I first did my budget I discovered that not only was I spending way too much in certain areas, but that in total I was putting myself in debt more and more each month. As I already mentioned the income needs to be as much if not more than our expenses.
After reducing where I could I found that I still came up short. There was no where else to “trim” from and I needed to find a way to cover it.
What to do????
And so I was put to the task of finding “extra” income. It would not be easy and would require working MORE hours than I had energy for, but for the immediate goal I was trying to reach it needed to be done.
Finding that extra income can require some creativness. I, for instance, relied on my bi-lingual skills to do some side translation work, which didn’t make me millions but here and there provided much needed “relief” for little extra expenses that came our way.
I heard a story of a man greatly in debt, who had sleepless nights thinking about his finances, and was advised that since he wasn’t sleeping anyway, perhaps he should try delivering fresh bread and milk as a service. Not only was this a way as earning extra income, turns out it was so successful his business grew so much he ended up hiring staff for deliveries and now runs it successfully.
Perhaps you have a skill that you can put to use as a way of earning some extra money. Perhaps you can draw or write well – think about how you can use that to make some extra cash. All ideas are welcome and I would love to hear them so please comment below!
So as you can see – more money is…more income – the more you make the faster you can reduce your debt and start planning ahead.