There can be no significant investment without savings and saving more means you need to maximize your income and live beneath your means. There is needless excess in your budget. Cost-cutting decisions are never easy but an essential first step in the lifelong process of investing and compounding your money. However, there is another way to reduce the pressure to cut costs: maximizing your income.
Your earned income is generally decided by 9 factors:
1. Educational attainment or specialized skills
2. Choice of profession and specialization
3. Work experience
4. Working Hours
5. Work ethic
6. Social skills
7. Competence and proficiency
8. Ability to cooperate with, inspire and lead your colleagues
9. Ambition to rise in the organization.
Sven Franssen