The Easiest Way to Increase Your Income
There are a lot of ways to increase your income but the absolute easiest way is to reduce your expenses.
Yes it’s that simple but most people don’t ever think about it. The ones who do, normally don’t ever get around to it.
A few month ago I increased my income by a little over $300 a month. Part of it took a couple of days but overall, it only took a few hours. Plus I paid someone a few bucks to do some of it.
The way I increased my income was by:
1. I cancelled a few membership sites that I never used. This only accounted for around $20 because they only cost $5-10 a month but that’s $240 a year.
2. I reduced my Internet speed for another $30 a month savings. I was paying for one of the fastest plans but realized I wasn’t getting the speed most of the time. So I kicked it down and can’t tell the difference.
3. I cancelled my dedicated server and went from $275/month to $75/month. I originally got the server and ended up not needing it so I just put my sites on it. Now I just use a VPN, a reseller account and a couple small accounts at different hosts.
4. I cancelled my land line and started using Ooma for a $60/month savings. Sure the Ooma equipment cost nearly $200 but there are zero monthly fees because I got the older equipment from Amazon. Now, Ooma doesn’t allow businesses but in the TOS it does mention home businesses as being OK if the minutes used are low and mine are.
There you have it. The easiest way to increase your income.
Garrie
Glad to be the first to comment. I’m pretty excited to know what in the world did you “DID” do to achieve so.
Regards.
Great post Garrie. And a very sensible, rational view.
It’s too easy to consider that more spending will increase chances of success…. been there myself.
On the other hand, we also tend to forget sometimes what we are locked into, and need to keep close track and review the value of such things to us.
All the best!
Dave
Hi Garrie, Great tips and nice graphic! About your phone, many people don’t know that if you can access the box outside your house you can unplug the main phone line, then just plug the Ooma box into 1 phone jack and plug your other phones into the jacks and they will work.
You must unplug the main line though because a small amount of electricity goes through it and may short out the Ooma box if you don’t.
Best Wishes, Mark
Nice post Garrie!
I am sure that if we all took 20 minutes out at the end of every month and seriously looked back firstly at what we spend every month and then [as important!!] what we actually spent last month, all those one off impulse buys that we could learn a lot and save a lot more!!
Keep up the good work Garrie, you are doing a great job.
All the best
Brian
Hi Garrie,
Great to see some practical tips on saving…am a finance person myself so I value those tips. Another possible area is television costs (cable, etc) that we might not need and have time to view all the channels
Anyway, waiting for your next tips…
Jane
It is a good idea to review things every so often so we can save paying for stuff we just don’t need anymore. Even unsubscribing from a enewsletter subscription saves you money indirectly (less email going in, less time wasted filtering through good and bad emails, less work for your email program so everything works more efficiently).
Great tips. I did something similar myself. Looked at everything I was spending in the month and asked myself do I really need this. I then cancelled about 10 different things. Ended up saving myself around $150 dollars within a month. And guess what? ….I never missed one thing. They were all luxuries I didn’t need.
I have been working on reducing my hosting expense myself and found NoSupportLinuxHosting.com for $1 a month where I am moving a lot of my sites. It cuts out some income, since they don’t have a referral plan, but I wasn’t making that much anyway. The quality is very high and I don’t need support anyway, so why pay for it?
I cancelled some of my credit cards and save me the annual fee.
Those are some great ideas! I know that I just got wireless in my home and managed to cancel my cell phones Internet service card because it was costing me an additional 70 dollars a month! Talk about a huge savings that I am more then happy to exploit!