Tag Archives: income target

New Year’s Resolution #4: Earn More

Income Creation, , , , , , ,

Over the past weeks we have been examining some of the key money goals that you should have on your 2015 resolution list. If you really want to avoid the disappointing results of past years, then you must understand exactly what is required to put you on a positive financial path.

One problem that can be very frustrating for persons who want to achieve their financial objectives is that they just don’t have enough income to do everything they would like to. As the saying goes, “It takes cash to care;” and to attain many of your goals, you need to have excess funds on hand.

More money is essential

The reality is that many people do not have enough money left over after paying their regular bills to comfortably attain many of the objectives and acquisitions that they desire. It may be almost impossible for you to live out your lofty dreams, solely on the proceeds of a regular pay cheque.

Therefore, a critical part of your game plan to have a better financial year is to look at options to increase your earning ability. Without additional sources of income, you will be challenged in your quest to manage your budget, avoid burdensome debt, and save towards building your wealth. Continue reading New Year’s Resolution #4: Earn More →

How to Earn More to Balance Your Budget

Budgeting, Income Creation, , , , , , , ,

Many people feel intimidated by the thought of having to do something outside of their regular job to create more cash to pay bills or save more for the future. However, like any other money skill, you can learn the simple steps that are required to generate income independent of your employer.

Preparing a comprehensive budget is the first step in the process of increasing your earnings, as you need to have a realistic target of how much money is required to meet your needs. You can download a budget at www.financiallysmart.org which will allow you to input all your bills and income sources.

After using your budget to calculate the exact amount of your shortfall of income over expenses, you need to break down that monthly amount into a weekly or daily figure that will be easier for you to work with. Therefore, if your monthly deficit is J$24,000, your daily income need would be about J$800. Continue reading How to Earn More to Balance Your Budget →

Keeping Records is Key

Budgeting, Business Success, , , , , , , ,

One of the occasional tasks that I find tedious and inconvenient is filling out forms or questionnaires. Whether I’m required to carry out a survey, complete documents for a financial institution or even submit contact information online, I usually have to overcome my initial resistance to the process.

I know I’m not alone in my aversion to data entry; but in many instances, it can be well worth the effort to capture information in a written or computerised format. When it comes to your finances, it is essential to maintain regular accounts of your transactions, both for individual and business use.

If you don’t have a firm handle on your financial dealings, it can cost you dearly in lost time, money and opportunities, and lead to confusion and frustration. Let’s look at some of the ways in which keeping timely and accurate records can help you to manage your personal or business finances. Continue reading Keeping Records is Key →

The Art and Science of Making Money

Income Creation, Investing, , , , , , , , , , , ,

Despite the developments in technology and differences in trends that emerge over time, there is one financial certainty that will probably remain constant. Most persons – regardless of age, gender, education, nationality, status or creed – will express the desire to have more money.

The ability to increase income levels far in excess of spending needs is desired by many, but discovered by very few. Could it be that some people are blessed with an inherent flair for making money that escapes the less talented majority? Or is there a scientific approach to money multiplication which can only be exploited after years of dedicated study?

The 2012 Money Manifesto, our 12-step guide to creating financial success, provides a recipe for increasing your income and putting your money to work for you. It is virtually impossible to budget successfully, save towards a nest egg, avoid debilitating debt, and plan for future goals, without having the means to boost your earning power. Continue reading The Art and Science of Making Money →