To make more money, you have to become the type of person who makes more money.
There are an endless amount of tactics, strategies, and techniques for making more money. Some of them include freelancing, asking for a raise, turning your hobby into a side-business, promoting other people’s products, writing a book, and creating an app.
So, with so many ways to make money, why don’t people make the amount of money that they want to be making?
People don’t make the amount of money that they want to make not because the opportunities for making more money don’t exist, but because they’re not the type of person who is able to fully appreciate, and take advantage of, those opportunities. That is, because they do things like the following:
- When they notice an opportunity they fail to act on it.
- They decide that the opportunity is just too risky.
- They start to take action, but then they don’t follow through .
To become the type of person who makes more money, you have to work on yourself. Then, when you’re ready to make more money, you will. Below you’ll find 15 self-improvement tips for making more money.
1. Stop Procrastinating. Procrastination can cost you big time when it comes to money. Look at the following:
- You see a job posting for a position you’d be ideal for, that pays more money than you’re making now. However, you keep procrastinating on updating your resume and sending it in, until it’s too late.
- You have an idea for an online course that you think would sell well, but you keep procrastinating on learning how to make videos.
- You know there are courses you should take to make yourself more marketable, but you keep putting it off.
In order to make more money, you need to stop procrastinating.
2. Increase Your Self-Esteem. There’s a positive correlation between self-esteem and money. That is, the better you feel about yourself, the more money you’re likely to make, and be able to keep. Confident people have all of the following going for them when it comes to making more money:
- They make better connections. Their friends are likely to be more successful, which makes it more likely they’ll be sent opportunities their way.
- They’re less likely to give in to fear. After all, they feel that they have what it takes to do well and get what they want.
- They’re better emotionally equipped to ignore naysayers.
- They’re better at setting boundaries and placing limits on demands for their time and other resources from others.
To increase your net worth, begin by increasing your self-esteem.
3. Change Your Beliefs. As I wrote in my post, 35 Powerful Beliefs About Money: From Trump to the Dalai Lama, in order to make more money you need to create empowering beliefs about wealth. Here are a few negative beliefs about money:
- It’s hard to make money.
- Wealthy people are spiritually bankrupt.
- If I make more money, that means others have to make less.
Now, compare those negative beliefs about money with these positive beliefs:
- Money is what you receive for creating value, and I have lots of value to give.
- The more money I have, the more good I can do for others.
- There’s enough for everyone.
Obviously, it will be a lot easier for the person with the positive money beliefs to be wealthy than it would be for the person with the negative money beliefs. If you want to make more money, change your beliefs about money.
4. Build Your Courage. Making money takes courage. In order to make money you have to put yourself out there, take smart risks, and convince others that what you have to offer is worth their money. That is, you have to be brave.
5. Read More. One of the habits that most wealthy people share is that they read. According to Thomas Corley, author of “Rich Habits: The Daily Success Habits Of Wealthy Individuals,” wealthy people love to read.
In fact, 88 percent of rich people claim that they read for self-improvement–both books on finances and personal development–for 30 minutes or more per day.
6. Stop Being Afraid of Failure. In order to make more money you have to act on your ideas. Your ideas may be right, which means you’ll succeed. But your ideas could also be wrong, which means that you’ll fail. If you’re so scared to fail that you don’t test your ideas, how can you expect to succeed?
If you want to make more money, you have to be willing to fail.
7. Take Responsibility. Lots of people have a long list of excuses of why they’re not making more money. And the excuses usually involve somebody else, or something outside of themselves. Look at the following:
- I can’t make more money because of the state of the economy.
- I can’t make more money because my boss is a jerk who won’t recognize my worth and won’t give me a raise.
- I can’t make more money because my parents failed to provide me with the education that I need.
People who become wealthy believe that they’re in control of their lives, and that making money depends on them and on what they do. If you want make more money, take responsibility for yourself and for your financial situation.
8. Make Yourself Lucky. What does luck have to do with making more money? A lot. Making money is a combination of skill and luck. That’s because there’s randomness involved in everything you do, which means that chance plays a role in how the chips fall.
However, as I explain in my post, “How to Make Yourself Lucky“, there are things you can do to improve your luck. These include the following:
- Lucky people have the ability to maximize chance opportunities.
- Lucky people listen to their “gut feelings”.
- Lucky people expect good fortune.
- Lucky people see the bright side of bad luck.
In order to make more money, make yourself lucky.
9. Learn to Manage Risk. Making money almost always requires taking risks. Here are some examples:
- Investing in the stock market is riskier than putting your money in a savings account, but it will make you more money in the long run.
- Starting your own business is riskier than holding down a job, but it also has the potential to make you a lot more money.
- Asking for more responsibility at work is riskier than just sticking to what you already know, but it also makes it more likely that you’ll get promoted and be given a raise.
Learning to manage risk is vitally important if you want to make more money.
10. Learn to Focus. In order to make money you have to stop flip flopping from one thing to another. Choose carefully what you’re going to devote your time and attention to, and then give that project everything you’ve got until it’s done.
Ten half-completed projects won’t make you any money. However, one well-chosen project carried out to completion, will. Learn to focus on one thing.
11. Strengthen Your Self-Discipline. There are at least two ways in which having self-discipline will help you to become wealthy:
- First, you have to have the self-discipline to set some money aside each month in order to invest it so that you can make more money.
- Second, whatever method, technique, or strategy you choose for making more money, you’re going to need the discipline to work on it day in and day out until you get results.
Without self-discipline, it’s highly unlikely you’ll ever become wealthy.
12. Boost Your Happiness. There are studies that show that happy people make more money. Therefore, instead of telling yourself that you’ll be happy once you start making more money, boost your happiness now. Once you’re happier, you’ll start making more money.
Here are some of the reasons why this is so:
- Happy people are more optimistic, which makes them more open to opportunity and new experiences.
- Happiness plays a role in overall well-being, which impacts your health. The healthier you are, the more time you can spend working on increasing your income.
- Happy people are more likely to invest in themselves–in education, fitness related activities, personal development, and so on. The more you invest in yourself, the more likely it is that this investment will pay off in the form of increased income.
Increase your wealth by increasing your happiness.
13. Learn to Manage Your Time. One of the main reasons that people give for not making more money is lack of time. That is, they don’t have the time to look for opportunities, learn new skills, or do the necessary work.
Although there will always be just 24 hours in a day, no matter what you do, you can “find time” for making more money by learning to manage your time. In fact, to make more money, all that you need is just one-hour-a-day.
14. Set Goals. In order to become wealthy you have to set the goal to make more money. Your goal should specify all of the following:
- How much money do you want to make?
- What are you going to do to make that amount of money?
- By when do you want to be making that amount of money?
Remember to start off with an amount that’s small enough to be reasonable. Then, move up from there. Here are three examples:
- In six months I’ll be making an additional $100 a month by adding Google Adsense to my blog and posting high-quality articles at least once a week to increase traffic to my blog.
- Within the next 12 months I’ll have applied for and gotten a new job which pays 5% more than the job I have now.
- By the end of the year I’ll have set aside $5000 to invest in income producing assets by taking on freelancing gigs.
15. Increase Your Motivation. A lot of people set the goal of making more money and get to work on their goal right away. However, if they don’t see results in a short amount of time, they lose their motivation.
If you want to make more money, you have to keep your motivation high until you succeed.
Live your best life by becoming the type of person who makes more money. Start by following the 15 self-improvement tips for making more money explained above.
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