Supercars. Yachts. Private jets. The finest things in life often require a significant amount of money to partake in.
A large and consistent income is needed to finance a lavish lifestyle, and for some people that may appear to be beyond the realms of possibility.
However, there are several ways to increase your income to finance a more luxurious life.
The easiest way to make money is to graft hard on a daily basis. Whatever your job is, do all you can to go above and beyond what is expected of you. That is what gets you noticed by people higher in the hierarchy and could lead to a promotion.
Whenever an opportunity to do some overtime arises, be sure to put your name forward. It will help show you are a hard worker and provide a nice boost to your payslip.
A quick and easy way to free up some of your disposable income is to take a good look at your incomings and outgoings to see how much you are spending each month.
Are you subscribing to a service you rarely use? Is there any way you can reduce your expenditure on essentials like food and utilities? Making some savings in these areas can free up money you might not even have realised you had.
Create more revenue streams
Wealthy people don’t tend to rely on just one source of income. That’s partially why the number of billionaires in the UK reached a record number during the coronavirus pandemic. If you dream of being able to be a bit more carefree with your money, you can increase your revenue streams through:
Investments: Make your money make money for you! Interest rates have been low since the 2007-08 global financial crisis, meaning the money you have sat in the bank will not really be earning you anything. The Bank of England is coming under pressure to raise interest rates but making smart purchases of stocks and bonds could help you get greater returns.
Trading: It has never been easier for people to dip their toes into the financial market and forex trading is another great way to create a secondary revenue stream. Using forex analysis tools like the MT4 platform, you can begin trading quickly and easily from your personal computer at home.
Starting a side hustle: If overtime opportunities at work are limited, you could dedicate your personal time to set up a business. It will likely take a lot of hard work to be a success, but if you manage to grow you can set your own salary and start to employ people to take on some of your responsibilities.