None of us has enough money.
On Two Cents we often focus on maximizing your money: Leveling up investments or employing new savings hacks.
But what do you do when just need tomake more?
Lifehacker talked with five people, including a familiar face (hi, Kristin!
), to get a sense of how people across the country are planning to increase their income.
Heres how real people are planning to level up their income this year.
These interviews have been condensed and lightly edited for clarity.
I think Ive been putting off getting my finances in order.
Name:Teresa B.
My salary is just below $43,000 (including a 403(b) match).
How much of your monthly income do bills take up?
Rent and bills take up around 50-60 percent of my take-home pay each month, including student loans.
I have about $60,000 in private and federal loans.
Do you have a specific money goal right now?
My goal right now is to pay off my loans as soon as possible.
Its about $60,000.
Whats your plan to make more more money this year?
I have been looking for work since September, so ideally the goal is to increase my salary.
My approach is to just be transparent with my friends about it.
Why do you want to earn more?
I probably didnt really have savings until about two years ago, I was just working paycheck-to-paycheck.
Now I have a little nest egg, so I am working on trying to increase that.
Is there a piece of general money advice that you find helpful?
Will it be worth that stress, that uneasy feeling in your stomach?
I have that question in the back in my mind.
take a stab at think about it like a game rather than as part of your identity.
How much of your monthly income do bills take up?
We dont have cable, we have internet which is around $60 per month.
Im fortunate enough not to have any student loan debt, and just the car loan.
I contribute to a 401(k) through my company.
And right now its nowhere near that.
Ive learned some of it already and its helpful.
The goal would be a raise or a promotion at Sony.
And, basically, for the last six months Ive also had two other bosses.
Those kinds of things already, Ive showed my coworkers and my boss is impressed.
Is there a specific pathway youre interested in?
I want to get more involved in animation …
I dont want to necessarily be an illustrator, I want to be in production.
I like the team here and I like the relative security.
When I graduated from college, I worked at a digital media startup.
They offer bonuses basically once a year.
I really dont want to be in a situation where they would scold me for not being responsible.
I am also thinking long-term, like a marriage, kids, a house, a picket fence.
How often do you think about your finances?
In my schedule, being an assistant, I definitely organize my schedule a lot.
Why do you have this desire to get it in order now?
So it was looking at it longterm like that.
Looking at finances, its scary.
Whenever Im looking over stuff, I take a stab at remember its not the end of the world.
I do feel very blessed to have supportive parents, and I realize its not available to everyone.
*Name has been changed.
Money is a resource, but isnt the end goal or a representation of the totality of your success.
Last year was an interesting year because it was the most Ive earned but I worked the least.
I took six weeks off, I consciously took June off and then took two weeks off in December.
Basic living expenses take up 20 to 25 percent, because I live pretty frugally.
The only thing thats kind of ambiguous because I havent committed to it fully is maybe buying a house.
Other than that, I think Im just fine surviving as a freelancer.
Im also working toward anAFCPE[a bang out of financial education certificate].
I hope to finish that in the next year or two to help freelancers and creatives with their money.
I like writing about money but I want to help people with their money.
Whats your plan to make more money this year?
Last year, I got some gigs that were more ongoing, I got contracts that were more retainer-y.
This was my fourth year freelancing and before that I was getting ongoing clients, but more erratic.
And building community, and referring each other is really helpful.
That was a big part of [earning more].
How did your community help you earn more?
Building out community is great, because its lower risk.
You have to find clients who will meet your rates, and you better diversify your income stream.
And it really does.
In freelancing its helpful in a lot of ways.
What is it like, how much should I charge?
Your client can pay different rates for the same thing.
So having a friend to talk to about that is helpful.
Why do you want to make more?
I dont put pressure on myself to make a certain amount of money because youll go crazy doing that.
[Earning more] was a byproduct of working hard and trying to strategize a bit.
I think it just happened, I know it sounds weird but I didnt intend for it to happen.
But it is good to have as a cushion, and its good to have more options.
Is there a piece of general money advice you find helpful?
You want it to be like water, running in the background.
Its a single metric.
And when you freelance, get clients you like working for and that have value outside of the money.
Do you learn things, do you like working them?
You know the saying, not all money is good money.
Talk to your friends about salary even though you think its taboo.
My salary there is $84,000 (including a 401(k) match).
Me and my fiancee put $500 a month into a savings account and thats our joint account.
Were using that to pay for the wedding, were getting married in May.
I put 15 percent in my 401(k), and watch the bills.
When I was at my last job I was really underpaid.
Then I found out I was underpaid and I left.
How did you figure out you were underpaid?
Then I searched on the internet, too, and I talked to friends and got to that number.
I talked to my boss and asked for a raise.
And my boss was like, Yeah, I know youre being underpaid too.
My other boss [the hiring manager] hadnt been as straight-forward with me, so that was nice.
This other place is giving me $4,000 more.
I had that angry feeling of when you know youve been underpaid for so long.
I was almost five years in.
Im also doing graduate school, so being able to get this money increase made that all possible.
I make a run at read one kind of financial book a year.
But also, talk to your friends about salary even though you think its taboo.
Im really trying to get over the fear of saying, My standard rate is X amount.
Including housing, bills take up about 25 percent of my income.
Aside from saving for my own retirement, Id like to help my parents save for theirs.
I want to get more comfortable with negotiating.
Im really trying to get over the fear of saying, My standard rate is X amount.
I want to earn more so I can help my parents.
Have a specific, meaningful goal for your finances.
This is the overarching theme of my book,Get Money.
Now its your turn: How are you making more money this year?
