5 Ways to Increase Your Income

Your Road to Financial Freedom Begins with a Consistent Income.

There are a number of other ways to increase your earning potential including:

  • Advance career opportunities over time – You may be fortunate enough to stay in one career or with one employer for many years. However, the average person will change careers 5 to 7 times over their working lifetime, and may frequently change jobs. You may choose to move vertically from an entry-level position into management, or you can move horizontally throughout different departments to gain experience.  The important thing is that you want to keep advancing in your career. You should expect that your income will increase as your responsibilities and experience increase.
  • Strengthen transferable skills – There are the skills that you can easily transfer from one job to another such as critical thinking, teamwork, and leadership. These skills can be learned through employment, school, internships, hobbies, and volunteer experiences. Jobs also require a combination of soft and hard skills. Soft skills are personality traits and characteristics based around behavior, attitude, and values that are important in the workplace. Hard skills focus on technical ability, including mathematics, reading comprehension, language fluency and computer skills.
  • Develop a tolerance for change – Some people like things to stay the same, while others thrive on change. You might want to think about your tolerance for change when looking at your career. For example, if you want to become a nurse, you could work at a local hospital with regular hours, if you like routine. If you adapt easily to change, you could become a traveling nurse who works for different types of hospitals in different parts of the country. Change will most likely happen in any job, and it is up to you to determine how you will adapt to those changes.
  • Gain experience; not only work experience – Gaining experience outside the workplace can include volunteering. Many organizations need help planning and implementing projects, programs, and events. Working with seasoned professionals in these organizations is a great way for you to gain experience. At MFF, we encourage our Fellows to participate as interns or work with our team on a variety of entrepreneurial and investment projects. Always be on the lookout for new opportunities to gain experience – this will enhance your resume and your network!
  • Align yourself with the right people Jim Rohn is quoted as saying that, “You are the average of the five people you spend the most time with.” This is important because those around us influence our choices in life and career. Think about the five people you spend the most time with. Do you need to make changes in who you align yourself with in order to increase your earning potential?

 

A Journey to Personal Financial Success

At Morgan Franklin Fellowship (MFF), we support the concept of financial freedom – by teaching participants how to save by paying themselves first, invest for their future and grow their net worth.

Learning how money works and how to talk about money with others are the first steps towards recognizing an individual’s lifelong financial goals. Our online programs, podcasts, blogs, and book reviews and resources are designed to help you learn the concepts, rules and vocabulary of money, finance and investing.

Becoming an MFF Fellow

Our Standards of Financial LiteracyLearning about money series is engaging, full of interesting information, and easy to navigate. Adapted from the National Standards for Personal Financial Education developed by the Council for Economic Education (CEE), this robust curriculum features six short lessons on such important topics as earning income, understanding the value of saving and using credit. When completed, this program lays the foundation for becoming an MFF Fellow.

Becoming an MFF Fellow is the ticket to access additional MFF programs and opportunities for mentoring, networking, internships and real-world opportunities. Hear from the MFF Fellow themselves on how these opportunities encourage them to continue their journey to personal financial success.

Learn More about Money

Begin the journey towards personal financial independence today. START LEARNING TODAY

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