IF YOU NEED MORE MONEY

After last week’s analysis, you have found you need more money. This is not just money to take a trip to Paris but a real need to up your income so you can lead a reasonable and comfortable life. It’s OK to want money to go to Paris but that’s not what we are talking about here.  This is a necessity task because you are not covering your basic needs.

Dollarphotoclub_651521901-300x1841. First question:   HOW MUCH DO YOU NEED?

You can answer this quickly by looking at the accounts that you did last week.  How much more a month are you running short? Say it is $1,000.  That means that you have to generate $250 a week more. If it is a much larger amount then you need to allow yourself to know that. No whining here.  This is an important life situation.

2.  LOOK AT THE PLACES THAT YOU SPEND.

Again, you will be doing this from the accounts that you got together last week.  Can you cut out lattes? Can you decrease your spending on food? Can you bring your lunch to work? Can you change child care arrangements? Only you can know what you might be able to do without.  It is very possible that you can get that $1,000 down at least 25% just by decreasing your spending.

3. LOOK AT WHERE MORE INCOME COULD COME FROM.

I know this seem so simple but most people are so stressed by this situation that they fail to see the easy way to determine what steps to take.  Could you raise your fee?  If you presently charge $200 an hour and if you are billing 30 hours a week, raising your fee to $215 an hour will increase your income by $450 a week!

If you are an employee on a fixed salary, you can ask for a raise.  Even a 5% raise can sometimes make the difference.  If you haven’t been getting an annual cost of living increase, now is the time to bring that up.  Hit your boss with figures from reliable sources and give information on any increased work you are performing.

If you are in real trouble, you can find a second job to bring in income.  This may be on the weekend or as an UBER driver but you will need to do whatever is necessary to get back in the black.

Can your partner earn some income? Many stay at home mothers can find ways to increase revenue.  Some who have bachelors degrees  can take the test to become substitute teachers so that their hours are the same as their children. Or how about working at a store on weekends while the partner is home with the kids.

Once you first find out how much more money you need each month, there are infinite ways to make that happen.

SO THIS WEEK YOUR JOB IS TO TAKE THESE FEW BASIC STEPS AND ACKNOWLEDGE IF YOU ARE LIVING IN DENIAL ABOUT MONEY, AND DECIDE HOW YOU CAN TAKE BETTER CONTROL OF YOUR MONEY SITUATION TODAY. Let me know if I can help.