How to grow your monthly income from $2500 to $10000 in 1 year or less by increasing your Hourly Rate

Hello! So, you want to have a better life, you want to invest, you want to reach your financial goals, but your income is not sufficient, and it’s been that way for the past few years? There is a solution to that! Today we will have a look on how to grow your income forever and make your life a lot easier.

One of the possible ways to increase your income is to get a side-job, and this can be a great temporary solution, but it would mean that you need to work more. And this is not something that we want 🙂 Sometimes you need to do that as a temporary urgent measure. But in the long-term perspective, the idea is to find a way to improve your income without having to work more everyday. Meaning, to increase your hourly rate, so you get significantly more money for the same number of working hours. It doesn’t happen in one day, but it’s totally possible to achieve in 1 year or less.

EXAMPLE:

Let me give you an example. I know the guy who was working in a company at a very basic position. His hourly rate was $15, which comes to monthly salary of $2500. Of course, it was not sufficient, you would definitely want to grow your income! So, he started to learn the sales skills. He took some training courses, he was trying to learn as much as he could about sales, negotiations, management. Also, he was talking to people from the Sales department, trying to understand how everything is working. And eventually it became obvious that he had all necessary knowledge and skills. So, when the new sales job position became available in his company, he applied and was promoted to the Sales team. His hourly rate changed from $15 to $50, and he started to make between $8000 and $10000 per month. All these changes happened within less than 1 year.

So, if you want to increase your income forever, these are the necessary steps:

Step 1. Set an achievable goal of how much you want to make per month.

It needs to be challenging, but also realistic, something which is possible to achieve. Take a responsibility to get that money. It’s your money, you just need to get it.

Setting an achievable monthly income goal is crucial for staying motivated and maintaining financial discipline. By establishing a realistic target, you can create a clear roadmap to grow your income and reach your desired level. This not only helps you monitor your progress, but also encourages you to develop effective strategies for increasing your earnings or cutting expenses. Remember, the key to success is setting attainable goals and regularly reviewing them to ensure you’re on track to achieving financial stability and growth.

Step 2. Is called “Where is my money?”

Find out which jobs or businesses pay this kind of money. Create a list of different possible jobs and choose the ones that are the best fit for you personally.

I say “jobs” because if you currently have a basic job with low income and you want to start your own business in the future, you would probably need to get some additional experience first. So, a better job would give you the opportunity to learn, to get the experience you need, and also to save money for starting your own company. However, if you feel that you already have everything you need for starting your own business, of course you can consider possible business options too.

Step 3. Learn the necessary skills.

Define which skills you need, to get one of those jobs with higher monthly payments. Start learning those skills as quickly as possible. It’s best to dedicate 2 or 3 hours every day for investing in your education. Don’t waste your time. You have a goal to achieve. Also make sure you have enough sleep to stay fresh and productive. There are many free recourses available on the internet. You can find almost everything you need on YouTube. There are also free courses available on LinkedIn and other platforms.

If you want to take some paid courses and you don’t have the money – take a side job and save as much as you can to be able to pay for your education – it will definitely pay off over time. Make a plan – you work extra hours for 2 or 3 month and then, when you have enough money, you can quit the side-job and focus on learning. You will needs this to be able to grow your income in a year or less.

You may find this article useful: 10 Side Jobs to Make Extra Money

Step 4. Connect with right people.

Try to find people who already have the job similar to your desired job. Connections are very important because they can give you the valuable insights of how everything is working. They can help to evaluate yourself and to understand if you are ready to apply for a dream job or not. Connections can also play a huge role for recommendations. Very often companies pay a reward to their employees for helping to find the right candidate for an open job position. If you have good connections and you prove yourself to be a knowledgeable trustworthy person, you increase your chances to get where you want to be.

Step 5. Knock all possible doors.

When the right time comes and you see that you are ready – it’s time to make a final effort, sell yourself and get the dream job. Create a best possible CV and cover letter, it’s even worth paying for it, so it looks more professional. Print your visit cards and prepare yourself for a job interview. If you need, you can even go for a few interviews in the companies where you don’t plan to work, just to practice and get more confidence. When you are fully prepared, knock all possible doors. Probably the biggest chances to get a promotion and grow your income are in your current company, where you have a good reputation and the strongest connections. But you can also choose to change the company, especially if you want to prepare for starting your own business in the different area.

It is certainly possible to fulfil this plan and significantly increase your income in a year or less, depending on your current situation. And when you have more money, you can create a proper emergency fund, you can start investing or save money for starting your own company.

WARNING!

The reality is that not all people are willing to sacrifice Netflix and make a real effort to change their life. It’s like when I want a chocolate, but I don’t want to go to the supermarket to buy it 🙂 In the end it’s always up to me do decide what I want more – chocolate or staying at home and not going anywhere.

I wish you all the best positive changes in your life, have a great day and see you soon.