Maximize Your Earning Comments    • By MP Dunleavey   • February
08, 2010  dw_savings2Earning more is challenging, in part
because your income gets calcified in your brain. Whether you
work for yourself or someone else, it's easy to wander down the
path of least resistance—I earn X, therefore I can afford Y—and
get stuck.  Instead, put the horse back in front of the cart: I
want to afford A, B and C. Therefore I need to earn D. In other
words, make an accurate assessment of what your current
lifestyle, future goals—and security—will cost. Maximize your
earning power to achieve those aims.  This method is sometimes
called a reverse budget, but it's really a way to hone your
priorities and rev up your earning power.  Here's how it would
work for Karen, who earns $60,000 a year working as a legal
secretary. If you are self-employed, this system still applies.
Karen's Current Budget Gross Income = $60,000 Monthly take-home
= $3,750 Basic expenses (mortgage, car, utilities, insurance,
etc.) = $2,400 Saving = $250