I need more income!

No you don’t. At least, generally, you probably don’t. There is no doubt that some of our readers reading this are in the red, that is: your outgoing money exceeds your incoming money. But that doesn’t mean that you need more income unless all of your money is going towards obligations, and absolutely $0.00 is used for “fun” money. Most people aren’t in that situation, but most people also don’t want to compromise on their quality of living.

The secret to
not being broke is
to live below
your means!

The major reason most people are in the red is because they are always trying to get the newest latest things (Uber-Consumerism) and at any cost (including debt). They are also unwilling to alter their standard of living (such as not eating out, going on big vacations, and buying new TVs). The secret to not being broke is to live below your means!

Many people dislike that answer and will opt for living on credit cards and paycheck to paycheck. They will try to remedy the issue by earning more income, but one of three things happens:

They will earn more income, but spend it by increasing their consumption, thus exacerbating the problem and resulting in more debt, or
They will not earn more income but continue telling themselves they will and the problem will get steadily worse, or

They will lose their current income and the whole house of cards will come falling down resulting in bankruptcy or near bankruptcy.

Unfortunately, for many, option #3 is what has happened and with this horrible recession, finding a job is nearly impossible, especially a job with a similar income as their last! This turns into a very bleak cycle that will only end when the person gets tired of it and says “THAT’S IT! Time for a change!”

Are you tired? Are you ready for a change? Sometimes the changes are painful, and it can mean stopping something that you’ve been doing for years. It means changing your morning Starbucks into your own home brewed coffee, it means no more fancy dinners out, it means renting movies rather than going to the theater, it means tightening your belt.

It will be hard, it will be daunting, and sometimes you might wonder why you’re doing it. This is all normal, but necessary. Once you make it your lifestyle, rather than a temporary change, you will no longer notice the difficulty. It will become normal. Then you’ll start to see people doing exactly what you WERE doing and think to yourself “what a waste!”

If you don’t have enough money, or you want more, then it is time to make a change. Tell yourself right now that things are going to change, make a promise, and keep it. You will only succeed as much as you allow yourself, and that all depends on how willing you are to commit to changing your life!

If you need more resources for getting this under way then check out some of the below links:

Books:

The Millionaire Next Door – This book tells you the truth about America’s millionaires: they aren’t frivolous partiers, they are penny pinchers. These are the millionaires that TV doesn’t show because they need you spending money! Anytime you are feeling down, read some of this book and it will help to motivate you.
Total Money Makeover – This is another great motivational book by Dave Ramsey. This book will help motivate you to get out of debt, stay out of debt, and it gives you useful tips to achieve it. Throughout the book he includes stories of people that have achieved TRUE financial freedom and these will help to motivate you.