Ways to increase income

With the expenses of gas, food and other necessities on the rise, it is ever so hard to "save" for some of the luxuries in life. As you may know from a previous post, my overall goal is to be in a position to retire by age 45. However, between that time and now, I would not mind being on par with the Jones's every now and then.

I would like to state that I do not promote or condone living outside of your means because I do believe sound personal finance requires sacrifice. However, if you are willing to sacrifice a little free time, there is no reason that you should not be able to indulge everyone now and then. With this said, I have decided over the last few months that I want to improve my home, purchase a new (used) car and have some other amenities.

Now, currently in my budget, I do not have any money allocated for any of these new "wants". However, I have the following recommendations to get more income:

1. Work Overtime: If your employer allows it, overtime is a great way to pick up extra income. Typically overtime pays 1.5 times your hourly pay which tends to provide much needed income for wants.

2. Part-time Job: If your employer does not offer overtime, however you find that you have extra time on your hands (especially on the weekends), a part-time job could provide more income. One can easily pick up a standard status quo job in retail, waiting tables or even working at a gym. For those who want something a little different, try learning how to DJ or bartend and put those skills to good use.

3. Craigslist: If you are like most people, you probably have some old video games, old purses, old tools or maybe old jewelry that is taking up space. Here is where Craigslist comes into play. It is a site that allows you to post on a bulletin board style site that is anonymous until you respond to the inquiry made for one of your posted items.

Everyone may not be in the position to log extra hours at another (or their current) jobs or sell extra stuff on Craigslist. Another method for getting more income is to reduce current expenditures as listed in a previous blog entitled "Cutting Costs (Part One)". Share with us some of your ideas on how to get more income to obtain some of the luxuries in life.