|It only takes a little bit of intelligent thought and action to make a big difference in your bottom line.|
Many people including high-wage earners are struggling financially and living paycheck-to-paycheck. Here are five simple BARON strategies that will help you increase your income and savings.
- Find a coach or mentor and expand your network. One of the quickest ways to increase your income is to change the people with whom you spend the majority of your time. It is often said that if you take the median income of the people with whom you spend the majority of your time, that number will serve as an accurate predictor of your income. Forming mentoring relationships and networking with individuals who have achieved a higher level of financial success will expand your knowledge and expose you to new investment ideas and unprecedented opportunities to build wealth.
- Get paid what you are worth. If you are an employee that means going after higher paying jobs in your industry. If you are business owner, that means going after larger clients and deals. It is important to make sure your time is directly aligned to where the lion’s share of your income either is or is going to be, and to make sure that you are doing the most important activities every day that will change the condition of your life or business financially.
- Reduce your Expenses. Cutting your expenses is an easy but significant way to boost your net income. You can increase your income by thousands of dollars by consolidating your long-term debt and reducing your interest rates; doing comparison shopping and buying products in bulk; purchasing consolidated services; and doing a better job of budgeting and planning to reduce late fees, bounced check fees, and penalty fees.
Ranked as the #1 Business Motivational Speaker by Ranking.com, William R. Patterson is a two-time award-winning lecturer, national best-selling author, and wealth coach who uses his trademark approach, THE BARON SOLUTION™, to coach, train, and motivate business leaders, sales professionals, entrepreneurs, and investors. His breakthrough book, The Baron Son, has been translated around the world and featured in the Forbes Book Club. William is an internationally recognized business authority who has been a featured guest on over 300 television and radio programs. William’s website, BaronSeries.com, is also winner of three 2008 Web Awards including Best Wealth-Building Site. THE BARON SOLUTION integrates over 200 proven business and financial accelerators to help you rapidly achieve your personal and organizational goals.