Saturday, June 16, 2012

Increase your income by reducing your expenses

Originally witten by Adetokunbo Olaoluwa Adesanya on Thursday, January 5, 2012 at 9:11pm on Facebook.

Ok, so you need more money.

You can get more contracts, ask for a raise or whatever you need to get additional income.

Or, like most people, you realize that an increase in income is much harder in our current economic situation.

Well right not try the other way.. like decrease your expenses :)

current wage = $100/year
current expenses = $40/year
Net income = $60/year

Say you want to increase your annual net income by $15/year; you ask your boss and he says No.
So you go home and start to think of the useless expenses you have and proceed to cut them off till you get that additional $15/year

resulting in

current wage = $100/year - still
New current expenses = $25/year after cutting off useless expenses totaling $15/year
New net income = $75/year

you have now have your $15 per year raise.

I hope this helps :-)

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