Double Your Income
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How you can actually double your real income.
The full chapter on Doubling Your Income will show you how calculate, understand and then double your real income.
Understanding your income and your expenses is a key to getting wealthy.
This page is specifically written for people who are employees and whose income is under $50,000 p.a. However the principles apply regardless of your income and are even more powerful if you are under-employed or a student.
If I said you could double your income either by taking certain opportunities or by working 15% more, would you would be interested?
Let’s look at an example to see how this is easily achievable:
Let’s say Jane Smith’s annual gross (before tax) income is $35,000. Assume her tax will be $6,825 leaving her $28,175
$28,175 / 52 = $540 per week
Jane’s weekly expenses are:
| Food per week | 100 |
| Rent | 100 |
| Flat expenses | 20 |
| Petrol | 30 |
| Clothing | 20 |
| Presents for Others | 10 |
| Take Aways | 10 |
| Eating Out | 10 |
| Lunches | 20 |
| Car - Insurance and Rego | 10 |
| Car Maintenance | 10 |
| Gym | 15 |
| Vacations | 10 |
| Phone | 10 |
| Entertainment | 40 |
| Cafes | 20 |
| Other | 15 |
| Total | 450 |
This leaves Jane $90 per week to save or put towards something other than living that week. This $90 is Jane’s real income. The rest she spends on just living. Therefore, for Jane to double her real income all she needs to do is earn another $90 a week.
The full chapter in the book contains tips and advice on how to earn this extra money – in some cases by doing nothing extra!
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