Why You Need To Make More Money

Why You Need To Make More Money

Everyone knows that the gap is growing between the rich and the poor in America. Most people do not know however that the gap is at an all time high. According to the Associated Press, the top 20% of Americans make nearly 50% of all of the income in this country.

People who make $180,000 or more have seen their income grow over the past year. Those that earn $50,000 or lower have seen their income drop. Income inequality is rising rapidly. So, what should your strategy be to make ends meet in the future?

There are only two ways to increase the amount of money that you have left over at the end of each month. One is to reduce your expenses. Trimming your expenses will increase your bottom line over the short term. The problem with this method is that expenses can only be cut so much. Your expenses cannot be cut to zero. You still need to pay for food, shelter, clothing, and other necessities.

You can however grow your earnings exponentially. There is no limit on the amount of income that you can bring in on an annual basis. You can increase your education, improve your skill level, develop an entrepreneurial venture, or improve your marketability to maximize your earnings power.

The reason that it is important to make more money is because inflation is right around the corner. The costs of buying goods and services (food, electronics, cellphone bills), sending your kids to college, and even buying a home will be substantially higher in the future. Wages have not done an adequate job of keeping place with inflation over the past 30 years and this trend will likely continue.

I am not suggesting that you should ignore being frugal and engage in wasteful spending. I am however suggesting that you switch your focus into increasing your revenue stream. If you do this, you will be prepared for any inflationary environment that rears its ugly head in the future.

Why You Need To Make More Money is a post from:

©2010 . All Rights Reserved.

.