“Incoming” describes our arrival to a new year, and it also illustrates how our income can impact how we enjoy the year. 

I had the pleasure of working with some Certified Financial Planners, during a college internship, and during my year working with them, I saw a variety of financial situations and their approach to meeting the client’s needs with a financial plan. Some cases included large amounts of debt with little income making it tough to determine how much money should be saved or invested based on the client’s risk tolerance. It was during those times, I heard, “I’m good, but not a magician” and that meant, that more money was needed to be successful in the plan and in our goal to be In The Black, more money typically won’t hurt, except in certain tax situations – we’ll discuss some of those later. 

Income is defined as the cash provided in exchange for services or products; that money helps obtain food, shelter, healthcare, and entertainment. The amount of money sets the cadence for the quality of those things, and as a result, I’m faced with the daily question of “how can I increase my income?” For most people, the primary income source is from W-2 employment such as working full-time job, where time and productivity are exchanged for a regularly scheduled paycheck from an employer. 

I have tasked myself with providing other services or products to generate additional sources of income including investments in the stock market, rental income, and even producing this blog. I enjoy talking about personal finances, so maybe I’ll grow to a point where the blog gets so great, that advertisers pay for blog space. We should initiate a “Sidehustle Saturday” or something similar this year; a time allocated for an income producing side hustle. Some federal employees have been forced to be innovative during the ongoing government shutdown. For example, Jaqi Wright and Nikki Howard, her sister, have been making cheesecake to bring in money they can’t get from their employer. Think about things that give you a thrill. You’ll be able to increase your disposable income and have fun if you work on something you enjoy. By the way, disposable income is the money available to save or spend, after paying Uncle Sam and all the bills. Check back, soon, and I’ll have some ideas on how to allocate some of your extra income. 

Happy New Year and thank you for your patience as I organize the blog and curate content that’s worth reading.

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