Remember when you were EXCITED to start school?
My son Seth just started pre-K and he was beyond thrilled to be learning and in community having fun with his new “friends”.
So where did we lose that enthusiasm?
My guess is … when it became hard, we lost the play, and we had a lot more at stake. So it really mattered how we performed.
And after a long series of steps, we are where we are today…
Making the money we are making, and often resigned to whatever comes in on our paycheck or client checks.
But WHAT IF (and stay with me here)…
You have MORE control over your income than you may realize right now.
Hmmm… that could be fun to think about… and may even bring back some of your excitement and hope.
So today I’m pulling back the curtain and sharing a tiny bit of this month’s Money Makers Academy teaching on how to increase your income.
MONEY TIP: Put the amount of income you receive from your job or business back into your own hands. Yes, much in life you can’t control. BUT you likely have more control over your income than you have given yourself credit for – whether in one time or longer term sustained solutions.
ACTION STEPS: Consider these ideas to make more money this month:
FOR EVERYONE:
1. Call someone who owes you money and collect on old debts or work out a payment plan.
2. Sell stuff you don’t use anymore.
3. Return items you bought and haven’t worn/ used. (Start by looking for items with tags in your closet – or if you have children, check in their closets too. The added bonus of this strategy is you’ll also be decluttering your home!)
4. Redeem cash or gift cards from any cash back or rewards credit cards. (I just received $600 last week this way – cha-ching!)
5. Do something with a portion of the extra cash in your bank accounts. (Many clients come to me with debt. But many other clients come to me with $50,000+ in cash that isn’t working for them – yet. The monies are often not invested because they are too afraid of doing the wrong thing, and sometimes the stock market isn’t the best place. But one recent client even got interest as her credit union for 3.25%! For another client, we are looking into real estate investments to earn her relatively passive ongoing income.)
6. Get those taxes filed and collect your refund. (Many overpay and then delay or extend filing, so get ‘er done!)
IF YOU ARE AN EMPLOYEE:
7. Ask for a raise or promotion.
8. Consider if you have any additional certifications or trainings that could earn you more money.
9. Be sure you are utilizing any HSA or FSA accounts available.
10. Seek higher paying opportunities, starting in your organization and in your network.
11. Ask how you are doing and improve your performance based on what your boss values (not what you may think they value).
IF YOU ARE A BUSINESS OWNER / SELF-EMPLOYED:
12. Raise your rates. TODAY.
13. Repackage your offerings. For example, if you offer packages of 6 sessions to be used anytime, but you want people to have 1 or 2 sessions each month, then re-price yourself to be a monthly investment. You get consistent income and your clients get reliable ongoing support and the related confidence that comes from knowing they have you as a safety net. Offer a small pay-in-full discount or bonus and collect more money now.
14. Identify new business lines and client types. How could you broaden the demographic you serve and still best serve your clients?
15. Bill for ALL services rendered and collect from ALL your clients. (Don’t shortchange yourself on hours work and time spent. And yes, even if it was 6-12-18 months ago… just call them, apologize and work out a payment plan for collection.)
16. Consider additional services you could offer the gold mine that is your past clients. They hired you once, likely love you, and could welcome an opportunity to work with you again! (Personally, I couldn’t believe how many people came out of the woodwork to re-join with me in the Academy.)
Want some more inspiration? Here are just a few of the results my clients are already experiencing this month:
- Matt received $1,000 from a past client’s insurance company that he had given up on because of the past difficulty in processing his claim for payment.
- Nancy, Jean and Bev created lists of 50+ ways to make more money (and have already started implementing the new ideas).
- Sasha sold a handbag posted on Tradesy, and earned $118.
- Susan sold her road bike on Craigslist and her Pilates equipment on another site (all stuff she hadn’t been using) which totaled over $2,000 (plus more on eBay since then) and has paid herself and paid off 2 credit cards!
That’s over $3,118 received, and increasing each day…!
YOUR PAYOFF: Your results come from YOUR implementation. So, which idea are you going to implement? Better yet, want to take on my challenge of creating a list of 50 ways YOU can make more money? Please let us know what action you are taking in the comments here!
Have an awesome money making weekend!
P.S> You got this!
By the way if you live in San Diego and love this empowered money conversation… join me and top financial bloggers this Wednesday September 21, 2016 for the final stop on the Road to Financial Wellness. (I helped host the big event here in Boston!)
Hear from 6 leading experts on finance and lifestyle, plus meet many other experts there for FinCon, THE annual event for financial experts. Here’s the link to come as my guest and be sure to hit reply so we connect there.
I’ll be broadcasting live from the conference via my Facebook page so be sure you “like” the page so you get notified. Hope to see you in San Diego and definitely stay tuned for the inside scoop from the conference!