Yesterday, I argued that the most effective path to financial success is to boost your income. Frugality is an important part of personal finance, and you will eventually meet your goals if you simply cut your spending, but it might take you a very long time. Maybe even decades. To super-charge your savings, I believe you should look for ways to increase your income.
Unfortunately, it’s not as easy to give advice about increasing income as it is about cutting expenses. General frugality tips are applicable to everyone, but our income situations are all different. Later this week, FMF from Free Money Finance will share a guest post on how to boost your income at a traditional job. Today, I want to share some of my favorite books on entrepreneurship and career management. They offer great advice on how to the “earn more” side of the wealth equation.
Crush It!
Before we look at my book recommendations, here’s [...]

In the recent GRS reader survey, one common request was to delay the weekly podcast announcement until after the show so that I could provide a brief written summary for those who don’t have the time or the inclination to listen. That means I can’t provide a reminder for people to call in during the show, but it may generate more discussion here on the blog.
A millionaire by 26
This week, Jim and I spent the hour talking with Erica from erica.biz. Erica dropped out of college to start a webhosting company in 2001. She was 20 years old. Seven years later, that business was bringing in $76,000 of revenue every month.
Despite this revenue, Erica nearly ran her business into the ground. She wasn’t paying enough attention to the numbers. The company was losing money and the employees were unhappy. To stay afloat, the business raised its rates. Erica was able to pay off the company’s [...]

This is a guest post from Jason Barr, who writes about personal development at Start Being Your Best. Jason is a potential Staff Writer for Get Rich Slowly. He’s 32 years old, has been married for seven years, and has a 2-1/2 year old son. He’s now a financial analyst, but he spent five years in the army as a Chinese linguist.
I’m the son of a man who advises people on retirement planning. I grew up in a home where I was required to save fifty percent of all the money I earned, just to set a good habit. By the time I graduated from high school, I had enough money in mutual funds to pay for my first year at a private liberal arts college (after scholarships, of course). I say all this to note that I probably should have known better…
Crash and burn
In the three years between the time I left for college [...]

This is a guest post from Neal Frankle, a Certified Financial Planner and the blogger at The Wealth Pilgrim. Neal is a potential Staff Writer for Get Rich Slowly. For background on Neal’s personal story, check out his recent article about how he went from homeless to homeowner.
You can start a business even if you don’t have any money. You should do it even if you don’t need the money.
I was blog-surfing this morning and visited the forums at Get Rich Slowly. I saw one particular post that really intrigued me. It was one person’s journey about leaving the rat race and starting her own business.
What was particularly fascinating about her experience and every person who left a comment was that they didn’t do it for the money. They opened their business because they wanted freedom.
In truth, when I opened my business I wanted more freedom too. But like most other [...]

I’ve been a full-time professional blogger for more than a year now. It’s been a fantastic experience, a sort of dream come true. But blogging for dollars is not without its drawbacks. As I’ve shared before, I feel socially isolated. I spend most of my time in this office, writing about money.
Also, the income can be irregular. For some bloggers, it’s very irregular. One month you might have record earnings — and the next you might experience your own personal financial crisis. Bloggers aren’t the only folks who struggle with the fluctuating incomes, of course. Many self-employed people face the same issue, as do those whose pay is tied to commission.
Creating a budget when your income fluctuates can be a frustrating experience. I’m sure that each of us finds our own ways to cope. Today, I want to share the method that I’ve developed.
Projecting income
Most articles I’ve read on this subject suggest basing your [...]

In my recent review of Pam Slim’s Escape from Cubicle Nation, Chett left the following comment:

I was talking with a good friend last week who is self-employed. I told him I envied his entrepreneurial spirit and the ability to “go it alone.” He told me he envied my work as a teacher and the set hours and guaranteed pay check and insurance. (I told him there was nothing “set” about the hours, so I guess we both misunderstood each others work.)
So many people dream of working for themselves and only find out the true benefits and heartaches after they make the leap. Take you for instance, what do you miss the most from the box factory in terms of security, or interaction? What bothered, (or motivated) you the most to drive you to self-employment and what have you learned about your decision over the past year and a half?

In the same thread, Caitlin wrote:
Every time [...]