When faced with a need to pay back debt, most people look for anyway possible to reduce their spending.
You should definitely do that, but there is another way that works just as well, often even better.
It's not widely used because most people don't think you can do it, but you must definitely can and should.
I'm talking about increasing your income.
You see there are two sides to the budgeting equation - income and expenses.
Now most people consider their income to be fixed and concentrate on reducing the expenses as much as possible with the goal of having a surplus between the two large enough to pay off debt.
But why should it be fixed?The only person who allows you to have a fixed income is you.
You can start by asking for a raise.
You probably won't get it, but when it's turned down it gives you a chance to ask your employer what you need to improve to get a higher pay packet.
Then you go away and improve that and come back and ask again.
He's told you what you need to do, you've done it.
It becomes harder for him to say no.
You need to understand that to get more money you need to provide increased value.
So ask your employer how you can increase your value and then do what it takes.
You also don't need to confine yourself to one job.
One of the most driven guys I know I met him cleaning an apartment building.
He was getting paid some crummy wage to vacuum out peoples apartments for them and empty their trash.
I spoke to him for a while but he was finished at the apartment and had to 'go to work'.
Turns out the guy was a salesmen full time and did this cleaning job because he wanted to earn some extra dosh.
He had mapped out exactly how long he would have to do the job until the extra money he earned from it would allow him to buy the car he wanted.
You don't have to do it that way.
The Internet opens up also sorts of earning opportunities that will help you increase your income.
Remember if you want to escape debt you need to decrease your expenses or increases your income or preferably both.
Work hard, but most importantly work smart and your rising income can be the key to escaping debt.
You should definitely do that, but there is another way that works just as well, often even better.
It's not widely used because most people don't think you can do it, but you must definitely can and should.
I'm talking about increasing your income.
You see there are two sides to the budgeting equation - income and expenses.
Now most people consider their income to be fixed and concentrate on reducing the expenses as much as possible with the goal of having a surplus between the two large enough to pay off debt.
But why should it be fixed?The only person who allows you to have a fixed income is you.
You can start by asking for a raise.
You probably won't get it, but when it's turned down it gives you a chance to ask your employer what you need to improve to get a higher pay packet.
Then you go away and improve that and come back and ask again.
He's told you what you need to do, you've done it.
It becomes harder for him to say no.
You need to understand that to get more money you need to provide increased value.
So ask your employer how you can increase your value and then do what it takes.
You also don't need to confine yourself to one job.
One of the most driven guys I know I met him cleaning an apartment building.
He was getting paid some crummy wage to vacuum out peoples apartments for them and empty their trash.
I spoke to him for a while but he was finished at the apartment and had to 'go to work'.
Turns out the guy was a salesmen full time and did this cleaning job because he wanted to earn some extra dosh.
He had mapped out exactly how long he would have to do the job until the extra money he earned from it would allow him to buy the car he wanted.
You don't have to do it that way.
The Internet opens up also sorts of earning opportunities that will help you increase your income.
Remember if you want to escape debt you need to decrease your expenses or increases your income or preferably both.
Work hard, but most importantly work smart and your rising income can be the key to escaping debt.
Source...