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The Biggest Money Multiplier?

When you are ready to make a change with your financial situation, there are two levers that will have an outsized impact on your financial health and peace. 

The first is to stabilize your money with budgeting and tracking. 

As Peter Drucker says, “What gets measured, gets managed,” and every client I have worked with over the years has proven this to be the case. 

It is important to understand where your money and resources are flowing. Just the act of tracking is 75% of the battle for creating peace with your money! Once you see your spending trends, and you see the bigger picture, daily habits begin to change.

So if you have not tackled this yet, it is a perfect place to start, as you will begin to see changes right away.

The other big lever in personal finances is your income.

If you can find ways to increase your monthly income, you can accelerate your progress to feeling financially prepared! And, quite frankly, you are in luck because there has never been a better time in human history for people looking to increase their income. 

If you want to dial up your income, here are some strategies I have taught my clients:

1. Level Up Your Skills at Work

Starting where you are right now, are there any skills that would make you more attractive to your employer or a prospective employer? You could look at job postings for your job or ones above your job to see what skills are in high demand. If you can find a way to acquire those skills, you can negotiate a higher pay rate because you are providing more value to your employer.

2. Start a Side Hustle

Often, I will work with a client who has very clear short-term goals, and they are willing to work a bit harder, or a bit longer to achieve those goals faster. Momentum is powerful!! If you need something from home, there are many part-time, remote positions available. Or, you could cash in on the gig economy and earn extra cash through Uber, Instacart, UberEats and more.

3. Start a Business

It is not an exaggeration that this is one of the easiest times in human history to start a business! With a laptop or computer, you can start a business with very little capital, but over time it can significantly increase your earning potential.

Not sure where to start? 

You could easily create a services business without much overhead. Just think of any service that people pay for, and consider if you could do that, too. Lawn care, house cleaning, car detailing, dog walking, pet sitting, handyman tasks–these are all small businesses you could start to add to your current income.

If you can’t work outside the home, consider creating a shop on Etsy, creating a Print on Demand business, creating low content books (coloring books/journals) for Amazon, or something similar. 

There are endless opportunities for motivated people who are ready to get in the driver’s seat of their finances!

Are you thinking that it sounds great, “But, Crystal, I already feel like I don’t have enough time!” or “I am not sure I want to do any of these things!”

I want you to know that You are your biggest money multiplier!

Let’s assume your investments yield 8%-10% increase each year. Consider that you could likely make a higher rate of return by investing in your earning ability. You are that powerful!

Finally, you don’t have to do this forever. Sometimes, clients just need an income boost for 3-6 months to build up a strong emergency fund quickly. Or if they know that they need a new air conditioner or new roof, they may be more inclined to take on extra work so that you can prepare for the large expense without impacting normal spending.

Are you considering increasing your income? Leave me a comment and let me know what strategy would work best for you!

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Hello! I'm Crystal!

I specialize in helping women, couples, and service-based small business owners who feel like they “make too much to be living paycheck to paycheck.” Together, we turn financial stress into financial clarity and create a plan for the life they’ve always imagined.

I’m based in Morristown, Tennessee, where I live with my husband and children. When I’m not coaching, I enjoy traveling, getting lost in a good book, and discovering new music.

Through Smart Money Financial Coaching, I’ve made it my mission to help people manage their money with confidence, pay off debt, and finally feel in control of their finances.

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