49 - Increase your income this year!

Reason for this Goal to increase your income:     Depending upon the goals that you are establishing for yourself, specifically in the areas of lifestyle and travel goals, it is likely that you will need to find ways to increase your income beyond your current levels. 

10 ways to increase your income now

In addition to the goals within this Financial Goals category, the following are ideas on how you can increase your income:

  1. Get into a good profession or career, with the potential to develop excellent income.
  2. Establish a side business as a secondary income source, possibly focused on one of your life passions.
  3. Start and develop your own successful business (i.e. the kinds of businesses you see pitched on television, on Dragons Den or Shark Tank).
  4. Be an excellent employee (See goal # 55).
  5. Develop an on-line internet marketing business.
  6. Join a network marketing business. 
  7. Become an authority in your business area by writing a book. 
  8. Drive for Uber or Lyft.
  9. Rent out a room in your house, on Air BNB.
  10. Sell stuff on Kijiji, Craigslist, or Amazon.
  11. Tutor people, in your area of passion or expertise.

Early in my life, I played music in bands, which in addition to being one of my life passions, provided me with additional income.  An extra $100 from a gig I played was a big deal when I was just starting out. I performed in several bands—Cartune, Dorian Wild, and Groove Doctors— performing in bars and clubs around the Greater Toronto Area as a bass player, from the 1970s to the 1990s.  

I went to DeVry Institute of Technology, and I obtained my diploma as an Electronics Technologist, leading to a successful career as a proposal manager, working for one of our country’s top employers in the aerospace industry.  

As an employee, I purchased 4 investment properties and 1 vacation property, over a period of 20 years, as a hobby in my spare time.   This turned out to be the main key to our financial success and ability to finance our lifestyle.   The excellent equity build-up and cash flow produced through buying investment real estate was enhanced by purchasing property in Ontario, one of the best growth areas in Canada throughout the 1990s and 2000s.   I encourage you to look at your own life and circumstances, and start developing a plan on how you will increase your income.  Each month, do something significant that will increase your income and your net worth.  

I was involved in a network marketing business for several years (Amway/ Quixtar) during my thirties. This taught me a lot about people skills and leadership, which led me to achieve significant income growth through my employer by being an excellent employee and leader (see Goals # 55 & 56). 

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