Yes, I am all about being frugal. "Waste not, want not." I'm full of quotes today. However, there is a time to be frugal, and a time not to be. Sometimes we just don't have the resources to do all the things we've obligated ourselves to do and buy the things we want.

Should I Increase My Income By Getting A Second Job?

I don't think this is ever a good idea. Let's get a second job, work from 6:00 to 10:00 (your primary job is over around 5:00) you go home, have dinner, go to sleep, never see your kids, wake up the next morning too tired to get dressed, go to work and aren't productive. Then you get fired from your primary job. Now where are you?

So, Is Frugality Always The Best Alternative?

Frugality works when the situation is immediate and you need a specific number of dollars. Let's say you need a new set of tires for your car. Perfect example. You save in other areas of your budget until you have the dollars to buy the tires. You might have to give up the premium channels on cable and the lattes for a few months. The problem with frugality is that you can only be frugal to a certain extent; you have to spend money in order to live. It's rather like inhabiting a hot climate; in the summer you have to shed some clothes; the only problem is you can only shed so much.

When Is It Better Not To Be Frugal?

It's best not to be frugal and concentrate on increasing your income when you're looking at the long term. Your possibilities are limitless; the problem is, you don't know exactly what that increase will ultimately be; the sky's the limit. Building a new skill set fits into this equation quite nicely and the ramifications to increasing your income are HUGE.

What are you doing to increase your current income?

CategoriesSaving Money