How Do I Increase My Income? | with Chris Naugle

How Do I Increase My Income? | with Chris Naugle //

I mean if you’re anything like me you probably asked yourself how do i increase my income i mean i think that’s what everybody asks i mean do you feel like you’re not making what you deserve well you’re in the right place if that’s the case because today what i’m going to do is i’m going to let you in on my top five ways to increase your income my name is chris

Noggle and i’m here to teach you how to become the bank so let’s dive in the first way is to create a budget and that’s going to allow you to figure out where your money’s going because the best way to increase your income is to figure out where your income’s going kind of just makes logical sense right but how many of you have actually sat down and created a

Budget in the comments below right now put in i a y e if you’ve done a budget because that makes you part of the one percent club that’s all the people that do a budget it’s insane but if you do what you figured out is how much money is going out the back door every single month you got credit card payments leaving line of credit payments car payments leaving i

Mean my gosh if we completely forgotten about the first law of wealth which is pay ourselves first you know we focus all of our time and energy on paying everybody else first we pay our creditors our debtors our expenses and we somehow put ourselves in the back seat we literally have forgotten about our goals and our needs and putting everybody else’s in front

Which hey in some cases that’s the right way but when it’s your debtors creditors and everything else it’s not and then we wonder why we don’t get the things out of life that we want because we’re doing it backwards so the first way to increase your income is to take back the money that you’re giving away that’s simple if you pay visa 100 a month well damn it

Let’s take that hundred dollars a month back if you pay 500 a month to the car payment let’s find a way to pay that 500 a month back to ourself now i know that it can be difficult to pay yourself first and pay your bills i mean we don’t live in a fairy tale world where you can have both and nothing changes i mean it’d be nice if it did but it doesn’t work that

Way so how do you do this well you got to start saving somewhere and that starts with setting some rules for yourself save 10 percent of the money that you earn and then let’s take the money that you saved that money which is ten percent every ten dollars you save a dollar and you pay everybody else after that let’s take the money that you save up every quarter and

Let’s take a chunk of that and let’s pay down the debts but let’s do that from lowest balance to highest so let’s start with the smallest credit card and then the next smallest once we pay the small credit card off whatever the amount was this is important so pay attention whatever the amount was you were giving away to that credit card you changed the name on the

Check now the name on the check is you you deposit that money back into your bank that means you’ve just reached captured and recycled the money you were giving away which increases your income but also it’s like earning whatever interest rate it was that you were giving away a visa charged you 20 you’re making 20. if your car payments four percent interest when

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You pay that 500 bucks a month back to yourself that’s like you making five percent and getting 500 extra every month now i want you to then redo your budget once you’ve taken back the majority of all the money that you’re giving away chances are you’re going to get to the point where you hit your mortgage and that’s about it most people aren’t going to just pay

Their mortgage off right away and it’s going to take you time to do this but getting wealthy is a marathon not a sprint so we got to start somewhere so that’s why the budget’s the first starting place so now once we’ve taken back the money that we’re given away so if the first thing is to create a budget and the second thing is to take back the money you’re giving

Away what’s the third thing well let’s identify some hidden equity some money that’s sitting under your feet that you don’t even know is there right now if you’re in your house in your kitchen on your living room couch i want you to look around you see that thing that you’re sitting in it’s called your home you know what your home has hidden equity but here’s the

Problem most people that have equity in their homes do nothing with it they don’t tap into that equity they don’t use that equity just leave it sit there and be lazy so let me paint a picture for you because this is exactly what’s going on all of you have had a really tough day at work right it’s that day where nothing went right nobody answered the phone everybody

Said no you hardly got any yeses the boss was an ass and you got out late the tps reports were due or something so the boss said you’re not going home until they’re done it’s late at night of course it’s raining out you get to your front door you’re exhausted you’re tired you open the front door and you look into your living room stay with me right on your couch

Is your money it’s laughing it’s eating your doritos it’s drinking your soda it’s watching your favorite show on tv and your money pauses for just a split second with a big grin on its face looks back at you and says what did you have another hard day folks that’s what you’re doing you’re out there working for money and your money’s sitting lazy on your couch darn

It that’s time to change that if you haven’t tapped into the equity in your house if that equity is just sitting there being lazy why it doesn’t cost you anything to take that equity out of your house it takes you going to your bank and getting a home equity line of credit and then the only thing is is we then have to find an opportunity for that money so let’s

Just say you couldn’t pay off all those debts out of your income you just didn’t have enough well now we got this hidden equity let’s take this hidden equity sitting in your house let’s get a home equity line of credit then we take a loan against that home equity line of credit we pay off high interest rate debt and we take the amount you were paying the debtors

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And you pay it back to your home equity line of credit if you do this right let’s say your home equity line of credit by today’s numbers cost you six percent but the credit card was charging you 10 you just made a four point spread if your credit card’s charging you 20 you can do the math that’s a 14 spread you made folks how much easier is it for you to increase

Your income than that that’s found money that’s money that should have been happening and working for you the whole time but you la you allowed it to be lazy that’s your fault so you got to start changing that number four this is the one thing that will increase your income tremendously become a problem solver stop trying to solve your problem stop complaining to

Everybody about this problem and that problem and how you’re broke and how you’re so sick of working and how you hate your job stop start focusing on solving somebody else’s problem let me give you a story this is a made-up story but it makes perfect sense there’s two guys that both work for a trash waste company and they work on the line which is let me explain

This it’s a terrible job the dump truck backs up with all the recycling stuff dumps it on a conveyor belt and guess what you and this other guy are the two that get to sort through all this trash and you know i know everybody’s supposed to just recycle the stuff that is recyclable but dirty diapers make it in there so now there’s two people the tale of two guys the

One guy all day long is watching the clock he’s complaining he hates his job he’s just waiting for a better opportunity every single day is the worst day of his life but the other guy on the other side of the conveyor is whistling he’s happy he’s sorting through it he grabs that poopy diaper shakes it off changes his gloves just laughs oh man i guess they they got

The wrong garbage can no big deal that baby must have had a big meal that night starts whistling every day is the best day of his life what’s the difference between the two they both make the same amount of money they both live in the same neighborhood drive the same kind of car one guy understands that he’s solving a big world problem and that big world problem

Is every piece of cardboard every piece of plastic is making it so that that piece of cardboard and plastic doesn’t end up in a landfill doesn’t end up in the ocean that’s a big problem he’s focused on solving that problem you know what will happen to him he will rise to the top he will become an expert in his job he will climb the ranks so fast eventually he’ll

Own that waste company and the guy that complained will jump from job to job to job hating every single job just a wee little bit more never making more money and never being satisfied and will die complaining the other person did one thing different realize the problem he solved so now this back to you what problem do you solve every day what are you an expert

In what do you want to be an expert in to be an expert in anything to make a massive amount of money in anything you got to be a problem solver and that problem solver means you got to solve somebody else’s problem so you want to make a lot of money be the best there is at solving somebody else’s problem and the fifth and final way to improve your income is this

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Do what everybody else is unwilling to do when i first started in wall street i was 23 years old i had no business being in a wall street job i’d never put a suit on a day in my life i remember showing up there and sitting in the bullpen with all these other new young guys that were just there to pound the phone for the guys around the outside and i remember watching

These guys around the outside in the big glass offices saying what do they do different how did they get that office how did they make a million dollars and i remember watching them barely none of them would ever really talk to us because we were just you know pond scum if you will we were the little guys in the middle the only job we had was to link the call to

The guy on the outside but what i watched as i watched them show up every day no earlier than 8 30. for lunch they would leave for two hours and then at the end of the day 4 30 maybe five o’clock they would leave and i said you know what if i want one of those glass offices all i have to do is everything they’re unwilling to do so instead of getting there at 8

30 like everybody else i did what they were unwilling to do and i showed up at seven instead of going out to lunch for two hours i did what everybody else was unwilling to do and i pounded the phone during lunch and then when everybody went home to be with their family go wherever they went i went out and did what everybody else was unwilling to do and saw clients

At their kitchen tables do you know where the rest of the story goes that’s right i made a whole lot of money i had one of those big glass offices and i was one of the top three advisors at that firm in a very short period of time folks what did i do different than anyone else i did what everybody else was unwilling to do is that too late for you doesn’t matter

Where you’re at in your life doesn’t matter what you’re doing if you follow these five steps let’s repeat them again real quick because they’re very simple to increase your income first create the budget so you know where your money’s going second we’re going to focus on taking back all the money that you’re giving away the checks you’re writing to somebody else

Should be checks you’re writing to yourself number three we’re gonna identify hidden money lazy money that’s sitting on your couch and we’re gonna then make that money go to work for us number four we’re going to become a problem solver we’re going to become an expert in what we do and we’re going to focus every day on one thing and that is solving somebody else’s

Problem and number five we’re gonna do what everybody else is unwilling to do if you follow those five steps folks there is no way you can’t be a millionaire a multi-millionaire and even a billionaire because that’s the success path if you liked this video you gotta check that one out too late for crypto i think not watch the video to learn more we’ll see you next time

Transcribed from video
How Do I Increase My Income? | with Chris Naugle By The Chris Naugle