In the journey to healthy personal finance, income is the piece of this journey that everyone knows needs to be in place to have healthy finances, get out of debt, or to build a nest egg in order to retire. At this point, you also may be tempted to skip reading this article because it is such a no-brainer. Or, you are struggling without an income (or much of one) and this feels defeating to read. I would encourage you, however, to keep reading to reimagine the role of income in your personal financial freedom journey. You see, most of us view income as a limitation on this journey, and too few of us view it as a tool!
Over the years in my readings and discussions, I have found that one theme emerged from income and personal finance. It is not easy–especially at first. The stress of trying to find the money to pay bills and survive is a daunting stress. So is the pursuit of higher income in many cases. Through my own professional journey, I have taken and stayed with jobs which I really didn’t like in order to achieve a goal. Usually, that goal meant financing further education, credentialing, or even gaining experience which would enable me to move up into a position I wanted or into another company that was a better fit. Yes, it was not the most emotionally fulfilling professional time in my life, but, unlike the popular American culture, my career isn’t the totality of my life. So, when things at work weren’t great, I made sure that outside of work I engaged in activities that filled my soul. Those professional life sacrifices to attain my goals paid off in advancement, greater personal fulfillment, and an expanded view of what truly is important in life.
This article is about how to increase your income…not a career counseling session. But, in reality, the growth in your professional life is how most people increase income. So, how do you increase your income? That is a huuuge question! However, the question is pretty simple–focus. Focus on evaluating your professional goals (even if that is working or earning enough to stay home with the kids). Focus on what you need to do to get to the next level financially. Focus on the steps needed to attain all of those goals. Even if you are looking to reduce your expenses to increase your income, the process requires focus.
Asking yourself questions like: What gives me joy/what makes me happy? How can I make that something I can do professionally? What do I hate about my current situation, and what goals can I make to change the situation? All of these are empowering questions because you are not asking what can someone else do for me, or how can someone else help me. Rather, you are asking yourself about what makes you happy and how can you act to make that a reality for yourself. These questions are big, and they take courage to honestly ask and answer for yourself! Really, you may not even be able to answer them in one day, one week, or even a month. This process of discovery evolve as you learn more about yourself, opportunities for you to pursue, and the curveballs that life will throw at us. I can honestly say that I never thought I would be where I am today, doing what I do, even 10 years ago!
Have you noticed, that I haven’t talked a lot about how much money you make in this article? That’s because the secret sauce is not in pursuing the dollar to pay the bills, but it in the focus you use to pursue your goals. While that does sound counter to what you would typically want to believe, this has been a truth which has proven itself over and over to me. And if you are like me, coming from generations of financial struggle, I did not have the role models in my life to clearly show me that pursuing the dollar does not produce dollars. I also did not have anyone in my life showing me that income is a tool to make life easier. Income cannot be the goal that will make a life of ease. Those realizations have changed the way I look at personal finance.
As we continue to look at the concept of financial freedom and how to get there, it is important to remember that this is a journey. A long journey. Not one that is ridden in the self-driving seat of a luxury vehicle. Rather, this journey is one in which you pull the heavy cart in the direction you want to go until you can upgrade into an easier mode of transportation. I hope we can journey together to make the arduous portion of your journey just a little shorter!
