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What is the Easiest Way to Make More Money?
Posted 4th January 2020 at 04:15 PM by kindsvater
There are two ways to make more money:
First, you can increase your revenue. This is what most people think of as the answer to the question of making more money.
However, as you have probably learned, this is hard. Sometimes really hard if you want to do more than just trade time for a paycheck.
The reason is because increasing revenue is not within your control.
If a potential customer does not buy your product or service then your bank account is stagnant.
Second, you can decrease your expenses.
This is the easiest way to have more money because it is more within your control.
Your bank account doesn't care how you do it - the result is the same.
Cutting costs is worth exactly the same to you as increasing revenue?
Exactly the same.
If you have an extra dollar because it was paid to you, or because you did not have to spend it, the value is exactly the same.
Psychologically, I think most people prefer to focus on increasing revenue.
But cutting costs is easier, faster, and more within your control.
One advantage increasing revenue has is the sky is the limit. Cutting costs is obviously limited to the amount of your costs.
Whether you are reading this now, at the start of a new year, or some other time, and you want more money in your bank account - take a long, hard look at your expenses and where you can cut.
First, you can increase your revenue. This is what most people think of as the answer to the question of making more money.
However, as you have probably learned, this is hard. Sometimes really hard if you want to do more than just trade time for a paycheck.
The reason is because increasing revenue is not within your control.
If a potential customer does not buy your product or service then your bank account is stagnant.
Second, you can decrease your expenses.
This is the easiest way to have more money because it is more within your control.
Your bank account doesn't care how you do it - the result is the same.
Cutting costs is worth exactly the same to you as increasing revenue?
Exactly the same.
If you have an extra dollar because it was paid to you, or because you did not have to spend it, the value is exactly the same.
Psychologically, I think most people prefer to focus on increasing revenue.
But cutting costs is easier, faster, and more within your control.
One advantage increasing revenue has is the sky is the limit. Cutting costs is obviously limited to the amount of your costs.
Whether you are reading this now, at the start of a new year, or some other time, and you want more money in your bank account - take a long, hard look at your expenses and where you can cut.
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