Written by Everybody wants to accumulate a higher income stream especially in the year 2022. The good news is that today I will be highlighting Income possibilities and obstacles.
Read More; Getting Adsense Approval in 2022
Capacity – Incapacity
The first objective of streaming income is Capacity. Likewise, the obstacle is incapacity.
Most people can’t acquire reasonable sums of money. To another, it might be that they have access nice sums but can’t wisely manage it.
Moreso to others, the rate of their income directory is proportional to the challenges they encounter. Hence the higher the income, the higher their challenges.
Likewise, the lesser their income, the lesser their challenges.
Obstacles are fixed when they aren’t capable to eradicate them.
Overcoming low income and the possibility of managing a high-income stream can only be predominantly achieved when capacity is built. Wealth is spiritual, any principle of wealth that is not governed by the spiritual system of wealth is only but a mere theory.
Accumulating higher range income determines the height of spiritual capacity one has obtained.
Transformation – Formation
Income sometimes flows like a stream operating in seasons. Unlike the dry seasons dries off all streams. While other seasons are financially formational some rare seasons are financially transformational.
In some seasons, you have less, yet some you have more and rare others you have in abundance.
A transformed mind will always have more, like one who draws and stores his water from streams during rainy seasons and utilize it during dry seasons.
A reproductive mind we always invest their capital during financial booming seasons. But a fixed mind will keep on hoping for more in anticipation and reluctantly spending the flourishing income not knowing the inflow is only within the range of a divine season.
Be Transformed!
Effort – Dormancy
Hard work persists; laziness gives up. Persistent yields income with time; but a hesitant losses.
In ray conclusion, Don’t ever give up, it doesn’t matter how long you’ve failed. Success is failure in preparation. Remember, winners, don’t give up.
Below are the indisputable 7 Ways to Overcome Low Income in Nigeria
Low income can be discouraging, and it’s definitely not easy to overcome. If you have an income that’s low enough to where you have to struggle just to make ends meet, don’t give up hope! By following these seven tips, you can help bring your income back up and get ahead in the long run.
1) Meditate
Meditation is a cheap, easy way to beat stress. Learning how to meditate will change your life and allow you more happiness throughout your day. In fact, mindfulness can help with anxiety, depression, addiction and even pain management.
It’s hard to explain just how powerful meditation is as a tool for improving mental health—and it’s even harder to quantify its impact. But if you want to try it out, there are plenty of resources online that can show you how.
If you’re looking for an app-based introduction to meditation, check out Headspace or Calm. Both are great options that have been designed by experts who know what they’re doing (i.e., not Silicon Valley bros). The best part? They’re free!
2) Practice Gratitude
In a study published in Psychological Science, researchers found that expressing gratitude can have a wide range of benefits, including reduced stress and increased life satisfaction. In fact, people who are able to be grateful report feeling healthier.
When you find yourself struggling with low income, take time each day to reflect on all that you do have and you will likely feel more relaxed about your situation. And if you’re taking steps toward improving your situation—even if it is just small incremental changes—recognize how far you’ve come and appreciate how much progress you’ve made.
Practicing gratitude for what you have can help boost your spirits when times get tough. Remember: Gratitude is an effective way to overcome low income!
The positive impact of practicing gratitude isn’t limited to adults; children who learn about gratitude also reap benefits. In one study by psychologists Sonja Lyubomirsky and Laura King, students were asked to perform weekly acts of kindness and write letters of appreciation. At the end of six weeks, they compared those students with a control group on their overall levels of happiness as well as their physical health.
3) Figure out a Side Hustle
You can also use low income as an opportunity to make a little extra cash on the side. Try taking on part-time work such as Uber, delivering for Door-dash or working for Amazon Mechanical Turk.
Doing some freelance writing and photography work through sites like Fiverr can help you bring in some extra money from a different angle.
If you have specialized skills that are in demand, consider offering your services through online marketplaces like Elance or Upwork. You might have to bid on jobs, but if you win, it could be worth it—you’ll get your name out there and get new experience if nothing else!
4) Create a Budget
Budgeting helps you control spending, saving and borrowing. Without a budget, it’s hard to figure out where your money is going—which means you can’t determine if you’re being financially responsible or not.
Set a realistic budget that includes groceries, housing, utilities and other bills as well as fun stuff like entertainment or travel. Make sure your monthly bills don’t take up more than one-third of your income, but include savings goals so that you’re planning for a rainy day.
If necessary, talk with a financial adviser about how to set up an effective budget plan. It may seem difficult at first, but once you get into a routine, it’ll be easier to keep track of your finances.
5) Cut Expenses
In some cases, there are easy ways to save money. For example, you can change or upgrade your cable package by calling your provider and negotiating a better deal.
You can also shop around for cheaper internet service or lower-cost long distance and cellphone providers. And while you’re at it, take a close look at all of your expenses—including restaurant meals and coffee runs—and see where you can cut back to save even more cash.
It’s always worth looking into if you can find deals or incentives that will help offset costs of living on an income that is just slightly above poverty level. That way, when you do have extra funds available, they’ll go toward things like debt reduction and savings rather than covering basic necessities.
6) Get Up Early
It’s surprising how many people with low incomes still sleep past sunrise. At least an hour before you have to wake up, set your alarm and make yourself get out of bed.
You’ll feel better waking up before everyone else (and you may even save money by avoiding costly morning commutes). In addition, if you wake up earlier, you’ll be able to log more hours at work—which means extra income.
7) Start Saving Money
One of the best ways to overcome low income is to start saving money. And despite our busy schedules, it’s easier than you think. You don’t have to wait until your next paycheck; you can save money now by adjusting your daily habits and increasing your awareness of what you spend and why. Start small: Small savings add up over time, so make a list of changes that won’t affect your lifestyle too drastically but will ultimately increase your cash flow.
For example, purchase store-brand staples instead of name brands, pack a lunch for work, or walk instead of driving—even when only short distances. These small savings add up quickly! Just imagine how much more easily attainable that vacation will be once you kick off those lazy habits.
Even if you do choose to drive, try choosing public transportation on occasion. It can help keep you from making impulse purchases (you’ll thank yourself later). Or cut back on late night meals out with friends and opt for cooking at home instead.
Whatever your financial goals are, write them down on paper and use them as motivation throughout each day. When things get tough (and they will), remember why you started working toward these goals in the first place!
This way, you’ll never lose sight of where you’re headed—or what steps are necessary to get there. Always remember that every step counts! No matter how big or small your contribution may seem at any given moment, any amount saved is better than none at all!
