Increase Your Income to Fix Your Budget

As we know, fixing our budget to have a surplus to pay down debt and increase savings is the first vital step you need to take to start on the path towards financial freedom.  There are various different ACTIONS you can take to increase your income that we will discuss today but before we dive into them, pull out the GOALS that YOU CREATED.  If you are going to take on a side hustle for extra income it’s so important that you keep your goals on your mind.

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  1. Ask for a raise at work

Most people rely too much on their employer to raise their salaries a small amount each year in the form of an annual review.  Knowing your value is key to ensuring you are maximizing your income with your current occupation.  Before asking for a raise you must know what you should be getting paid – check out to see if what you are making is in line with what others with your title are getting paid.

Once you know how big of a raise you are going to ask for you need to put together the delivery of your message.

  1. What are your responsibilities at work and how does that add value to the company.
  2. Dedication to the company – how long have you worked there?
  3. Research on what the position is worth.

Hi Boss,

I’d like to talk to you about my role here at the company.  I have been ensuring that all of our bills get paid to our vendors in a timely manner to ensure that all of our tools and services remain operational.  I’ve been a loyal, trustworthy and dedicated employee for over a year and a half and after doing some research I have found that my work warrants and increase in pay.  I’m looking for a raise of $3.00 per hour as I feel that is a fair market value.  I hope you see the value I bring to the company and will take my request into consideration.

Not that hard right?  Once you leave the office your fear will dissipate and you will feel a sense of liberation.  Most people don’t ask for a raise out of fear, and fear alone.  Asking for a raise is something that is out of most peoples comfort zone but getting out of your comfort zone is how you grow as a person.  In the above example, a $3.00 per hour raise means over $6,000 a year in income – is getting over your fear worth it to add all that money to your budget income?

  1. Start a side hustle

Working a side hustle has enormous impact on your budget for a few obvious reasons.  One being that you are earning additional money in your free time to supplement your income to either pay down debt or increase your savings.  Another big reason a side hustle is a great option is that while you are making money, you are also not spending money during this time so it’s a double bonus.  Research shows you can make a Net Income of $12.00 per hour driving for Uber or Lyft which might not seem like a ton of money but it can add up quickly and have a dramatic impact on debt reduction.  Sign up for our Email Newsletter below and we will send you our Side Hustle Calculator to help you decide if it’s worth it.

If you have Credit Card Debt of $5,000 and are currently paying the minimum payment of around $155 per month it would take you 55 months to pay off – that is 4 AND A HALF YEARS!!!

Working for 10 hours per month, which is only 2.5 hours per week you could earn $120 to put towards your monthly payments and your credit card would be paid of in………….24 months.  So after the debt is paid off in 24 months you could decide to keep driving.  If you did so, in the same 55 months you could have paid the minimum payments and ended up with no debt or you could sacrifice 10 hours a month and end up with no debt AND $8,500 IN YOUR SAVINGS ACCOUNT!!


Life is all about choices and opportunity, how much different would your life be if you if you were debt free and had enough money saved up to have more piece of mind.  Money and budgets can be stressful, especially when you have no true plan.  Please sign up for our Newsletter to get more helpful tips on budgets, personal finance, goals and a better money mindset.  You will sleep better, stress less, and enjoy all that life has to offer.  You aren’t alone out there – #BudgetNinjaNation

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