5 Ways To Increase Your Annual

Income
by Scripbox 75 Comments ★ Personal Finance

Invest in Enriching Your Life and Increasing Your Income

Increasing your annual income has many benefits- mainly, ability to afford a quality
lifestyle for you and your family, and also the ability to manage unexpected money
requirements.

Here are five practical ways to increase your annual income.

#1: Invest in Yourself – Add Value to Your Self Worth

Investing in yourself will give you disproportionately high return on investment- both
for the amount of money invested and the time you spent.
DIY Tips to Invest in Yourself

 Leverage the power of learning. Add a new skill, learn a new language, or try
something that’s been on your bucket list.
 Set aside time on a daily or weekly basis to read informative blogs, articles or
books.
 Attend a workshop, webinar or training to stay updated on the latest trends.
 Explore your creative side to exercise untapped areas of your mind. This will
open up different doors of perception- personally and professionally.

Invest time in taking a sabbatical – Retrospect, introspect and regain your focus

How Does This Increase My Annual Income?

Better skills, greater knowledge and wider perception, all lead to a higher level of
opportunities.

#2: Invest Smart – Monetarily not Momentarily

Talking about increasing income is incomplete without considering the actual

monetary aspect of investing smart.

DIY Tips to Increase Your Future Annual Income

 Start early-as early as you possibly can

 Invest for the long term
 Make the right investment choices- for long term goals (more than 5
years), invest in equities and short term (less than 5 years), invest in
debt instruments.

How Does This Increase My Annual Income?

Increase your profits by investing wisely. Instill a long term perspective to evade
myopic results from a short-sighted plan.

#3: Invest in a Long Term Career Path – Map Your Progression Professionally

Mapping your professional interests can help you strategically build your career path.
DIY Tips to Chart Your Career Path

 Do a SWOT analysis on your professional traits. Determine your strengths,

weaknesses, opportunities and threats. In this way you can identify the best
opportunities that can help you progress with purpose.
 Inculcate a long term vision. Do not let short term challenges come in the way
of building your potential in the future.

How Does This Increase My Annual Income?

Being at the right place, at the right time with the right capabilities, tactically improves
your career prospects.

#4: Invest in Rewarding Risks – Zone Out of Your Comfort Zone

Taking risks can snap you out of your comfort zone.

DIY Tips to Zone Out of Your Comfort Zone

 Take a chance to challenge yourself. Push your limits beyond the monotony
of mediocre tasks. It is a bitter truth that machines will replace you eventually.
 Focus on work that allows you to build your capabilities, even if it means
making a drastic change.

How Does This Increase My Annual Income?

Stepping out of your bubble automatically unlocks new possibilities

#5: Invest in Health – Focus on Your Physical, Mental and Social Well Being

The real wealth is in the health and well being of your body, mind and social
interaction. While the increase in disposable income may translate to a higher
standard of living, it could also lead to increasing health issues.

DIY Tips to Enrich Your Wealth in Health

 Physical Health
 Exercise. If not for the physical benefits, it also helps in reducing your
healthcare bills.
  Eat healthy. A home cooked meal is not only healthier but also lighter
on the pocket.
 Mental Health – Many occupational lifestyle diseases are creeping into urban
population. Maintain a good work-life balance to avoid mental problems such
as depression, hypertension and neurological issues.
 Social Well Being – Whether you admit it or not, who you interact with socially
and your lifestyle have a big impact on your personality. The social
environment you choose to be influenced by will affect the way you think and
the decisions you make. Choose wisely.

How Does This Increase My Annual Income?

You become the environment you live in. Make it clean, green and lean on the body,
mind and wallet.