Everyone wants to earn more money, and everyone tries to do it.

Many people try to do it themselves, so many people take advice.

Most personal finance advice focuses on spending less or making more than one income stream.

But is it easy?

You could try all the resources, such as blogs, videos, or podcasts related to personal finance, but you will find that the question has yet to be solved.

How to earn more money?

The question becomes more complicated when you try to solve it.

But why is it so complicated and how can we find the answer to earn more money?

To find the answer to this interesting question, we will have to find out how income is determined.

Or what are the factors which impact your income?

In other words, how we can organize the attributes which could boost your income.

1. Your knowledge 

                                     If you are a doctor, an engineer or a teacher, then you have some extra knowledge.

Likewise, you may be an expert in any field.

In your field, you can work with your skills and not everyone can do what you can do.

By using this knowledge, you can earn money.

• Your Productivity

                                       If you are a craftsman, a fixer, a handyman, a repair technician, a writer, a movie director, a farmer or any other who has the skill to make or repair something, then you could earn money by increasing your productivity.

Here productivity increases by both the quality and quantity of your work.

• Your ability to sell something

                                                                If you are a shopkeeper or one who can sell something, then you can earn money from it.

If you have this ability, you will have to ask about whichever you want to sell. You will have to be in the market by any mode and will have to make a reach to the public.

If you want to earn more money, then you will have to develop an ability which is shown above, or you may need more than one according to the situation.

But is it enough?

Think about it.

If we talk about your current situation, [suppose you are at an older age] then is it possible to acquire a piece of specific knowledge?

Can you increase your productivity?

And if yes, then are there any limitations? Have you reached your limit?

Or can anyone increase his selling ability? What about an introvert?

There are different conditions for everyone. If I am better in a field, then maybe you are not and vice versa.

And so, every plan is not for everyone.

Your ability, experience or education is only part of your success; if you do not have an attribute of the above, then you can change your plan accordingly.

It is like you can use an ingredient in many dishes, but you cannot make a perfect dish with only one ingredient.

Of course, your education and experience are very important, but you will have to identify what will be best for you and what is your type.

If you are an extrovert, you may be a good salesman or may be a good teacher

If you are an introvert, you may be better in a field where you find staying at home, like a blogger.

Likewise,

If you are at an early age, then you must pay attention to acquire knowledge and polish your skills.

But if you are at an older age, then you must think about your retirement goals.

Whatever the situation, you will get results according to your preferences and conditions.

So, more important to earn money is your preference.

Which way will you choose, so you can earn more money?

It can be decided by you only which is the best way for you.

And you need only one way or more than one way.

You can find ideas from various blogs on personal finance or get inspired by reading a book, but only you must choose your way to success.

If you want to earn more money, then you will have to be more valuable to someone who pays for you

But how?

Let’s see.

 Knowledge is key to earning.

If you know, you can earn in many ways,

By acquiring knowledge in your field, you become more confident and will have higher earning potential.

But what is knowledge?

And how can I get it?

Will you have to go to school or college again to acquire knowledge?

Wait, I am not talking about getting a degree.

It’s about getting real knowledge.

Of course, a degree is very important for starting a career, but you can find many people who have a higher degree but depend on paycheck to paycheck.

Why?

Because they do not have knowledge.

They earn a degree but are not good in their field.

You may also find many people around you who have great experience but struggle to earn a good amount of money.

Because they spend a long time in a field, but they did not acquire knowledge or did not update themselves.

Make a list of the wealthiest people in your area [of course, who are not wealthy by their ancestor’s property] and try to find out why they are wealthy.

 You can easily find that they all have some extraordinary knowledge, whether they have a degree or not.

But how to acquire real knowledge?

Again, find which knowledge you need to make more money.

Do you want to earn in your field or need knowledge for a side hustle?

Then you can acquire knowledge in many ways.

Here you can find the answer…

Work efficiently and effectively

We know education is not the only factor which impacts your income.

You are paid for the work you do and how effectively and efficiently you work directly impacts the payment you receive.

In other words, we can say the quality and quantity of your work matter.

Suppose you are a carpenter.

You make 2 doors in an hour. And if you work 6 hours a day then you will make 12 doors in a day.

Then your efficiency is making 12 doors in a day.

If you increase your working hours by 1 hour per day, then you will make 14 doors in a day and your income will increase.

But if you increase your output per hour and make 3 doors per hour then you can also increase your income.

But how?

You can increase your efficiency by experience and by learning from your mistakes.

You can learn from other experts how you can increase your efficiency.

Or you can do some learning experiments.

But what about the quality of your work?

 What if the quality of your work decreases?

Quality is also very important and with quantity, you will also have to maintain the quality of your work.

And if you maintain your quality then it means you are working effectively.

But how can we maintain quality with quantity?

Let’s see,

In the above example if you are making 2 doors in an hour and 12 doors in a day by working 6 hours per day and if you get rupees 100 for making every door then you will get rupees 1200 per day.

Now if you find a companion who works for you and now with him you make 3 doors per hour then you will get 1800 daily by working 6 hours per day.

If he agrees to work for you with a wage of a maximum of rupees 500 per day, then only you can earn rupees 100 per day extra.

It depends on you how you bargain with him.

It can help to increase your efficiency as well as effectiveness In your work.

However, efficiency and effectiveness depend on work to work, and the same action is not fruitful for every task.

Only you can know how you can improve your productivity quantitatively and quality-wise.

Become a good salesman

No doubt your income is directly affected by the quality and quantity of your work, and you can improve quality and quantity by continuing learning.

But what if you do not have any clients or any customers?

Can you survive without improving your ability to sell something?

Ok, you are in a back-office job where you do not have to sell anything.

But in this type of job can you increase your earnings?

For better increment, you will have to learn to sell yourself better.

You will have to know how to sell yourself, better timing and better bargaining ability.

For selling anything you will have to improve your negotiation power.

You will have to know how efficiently to negotiate for selling a product or service whether the product is you.

There is no foolproof negotiation method, and you will have to apply your negotiation method yourself.

Ok,

Now gradually you are gaining knowledge, improving your ability to sell and learning to work effectively and efficiently.

But now what?

How to use these skills?

And ultimately the question is still here.

How to earn more money?

You can do here two things

First,

You can earn more money by doing better in your field.

Suppose you are a trader then you can polish your skills by gathering some extra knowledge and using this knowledge in your strategies.

Likewise, if you are an electrical worker then you can add one more feather to your crown by taking a certificate program or a diploma course.

But remember only a degree or certificate program cannot increase your income but you will have to increase your productivity and ability to sell it by using this knowledge.

Make sure that you can use your knowledge at your workplace.

If you are working where you are not using your 100 per cent, then you can think about change.

You can try to do a job with your competitor if you feel better there

Or you may also try to change your position.

My friend who was M.Sc., LLB. And was working in a law firm switching to a taxation firm and getting a better salary.

Same degree, and the same knowledge but a different profile and a better hike in salary.

Second,

You may try a side hustle.

If you are doing something in your free time which makes an extra income for you then it’s a side hustle.

You must do only that to find out some habits in you, which can be the reason for some extra income for you.

You can earn by using your knowledge or can acquire some knowledge so you can sell yourself.

Suppose you are a doctor, then you can make YouTube videos in your free time and share your knowledge with your audience. You have to learn only how to make a video for YouTube and how to monetize it.

If you are a civil engineer, then you could also be a good real estate agent.

Overall, you must know which side hustle is best for you and how you can earn with your hobby.

Maybe one day your side hustle becomes your full-time job.

There may be more than one way, but the goal is only to earn more money.

Only you can choose which way is better for you and how conditions allow you to choose a path.

Remember you are only responsible for your income.

If you do not come out of excuses, you may not succeed.