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Weekend Challenge 13: Increasing Your Income

By , About.com Guide

This week the challenge is focused on helping you to increase your earning power. If you are progressing steadily towards your financial goals, and feel that you have a good handle on how much time you spend working and how much time you spend enjoying life, you may not need to participate in this challenge. However if you are struggling to make ends meet, and you feel overwhelmed by the amount of debt that you have or if you just have difficulty meeting your monthly obligations you should take time to complete the challenge.

1. Do You Need a Temporary or Permanent Solution?

2. Temporary Solutions

If you are simply looking for a way to help you get control of your debt, but you make enough money if you were debt free, then you are looking for a temporary solution to your income problem. This means that you will likely just need to take on an extra job to solve your problems. When you make the choice to take on an extra job, you need to be sure that it is worth your time and effort. As a professional there may be many things that you can do to earn more than minimum wage at your second job. The more you make per hour the more effective that extra job will be and the less you will have to work.

 

3. Permanent Solutions

If you are having trouble paying for your day-to-day expenses, then you need to look at a long-term solution to your problems. First you need to decide if you can earn more money in your current field of work at a different job or through promotions at work. If this is the case, it may be worth staying with your current employer and participating in any training options that they have. Otherwise you may need to look into returning to school for additional training. You may also consider starting your own business as a way to increase your income. You should also utilize temporary solutions while you work on your long-term plan.

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