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Base on the report extracted from the recent newspaper, Malaysian is barely making enough to survive for their monthly expenses. You can read the full report here. Below are 3 simple steps to boost your income.
Step #1 - Invest In Yourself
The world is changing very fast. If we do not embrace the soft skills in the Gig Economy, machine will take over our jobs. By enhancing our skills, we will become more efficient and we can produce more with less time. I personally believe that how much we earn is based on how much we learn.
Step #2 - Multiple Source Of Income
With more knowledge and skills, employee can get job promotion easily and income will increase eventually. As for entrepreneur will be able to produce more with less, that equivalent profit will also be increased. With more skilful, one can have extra time and he or she can further expand the income by starting up another source of income in part time basis.
When starting another source of income, you may consider something that can be automated in long run. As our priority shift as our age grown up, we may not want to spend all of our time just to work and generate more and more income only. Therefore it is good to automate our income right from the beginning when we start to build our second income.
Step #3 - Invest For More
When the income has increased, do not spend all and allocate small amount into investment. As most of the people working very hard for money. Investment is an alternative way to make the money work hard for us without spending our time to exchange for additional income. Investment is also part of the process of automating the income.
Conclusion
Nothing come easy. Start everything with small but think big. Be consistent is the key to success. The best investment in the world is to invest in yourself. Take baby steps and improve every day.
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