10 STRATEGIES FOR FINANCIAL INCREASE
The world is in a recession. According to reports, the economic situation will not
improve for a while to come. The media continues to give us the dreadful news.
However, in spite of the current state of the affairs, it is still possible to weather this
storm with your finances intact. As a trailblazer, it is obvious that you are an over-
comer with strong beliefs, faith in a higher power, and a significant amount of
determination. These very traits have contributed to your success thus far and will
take you even farther, as long as you remain focused. Apply those characteristics to
your finances and reinvent your financial life today. This is a great time to give your
finances a thorough review and implement the following strategies to make sure that
you are well positioned to receive your financial increase, in spite of the current
economy.
Strategy #1: Assess your financial situation
If I asked you how much money you have coming in and going out each month, could
you tell me? During these times, knowing the answer to this question is critical to
your continued financial success. You can’t decide what you need to do if you do not
know where you currently stand. Determine how much money you bring home each
month. This can be established by looking at your net pay on your check stub and
then adding any additional income, such as child support, second or passive
incomes, etc. If you are married, you should do this with your spouse. Now, figure out
the total amount going out for monthly bills, grocery, gas, recreation, etc. If your
money going out is exceeding the monthly amount coming in, you are likely living pay
check to pay check. There are several things you might consider implementing in
order to address this:
• You can eliminate unnecessary bills, like a house phone you have but don’t
use or an unused gym membership.
• You should check your cell phone plan to be sure you have the best plan for
your needs.
• Call your credit card company to find out if they can offer you a better interest
rate.
• You can also look for a higher paying job or even establish another income
stream, such as catering events or parties for a fee if you are an excellent
cook or by selling some of your floral arrangements if you are talented in that
area.
