There’s several ways to increase your income (absent of increasing dividend income):

  1. Use freelancing income to start earning side hustle income. The rise of freelancer nomads is here! You have skills at your current job and I’m sure that someone would love to have you help them on their own project.
  2. Participate in credit card churning and/or manufactured spending. Our introduction to manufactured spending shows that you can earn additional income from this or you save money by not incurring additional travel expenses.
  3. If you have debts, extinguish them quickly. These are only impediments on your liabilities side of the equation. If you want to live financially free you can do so on lower income if you have lower expenses.
  4. Build a hobby or create a side business. The KISS (Keep It Simple Stupid) method applies here. You don’t need to create the next Uber or Facebook. Build a side business that is easy to understand and run. You’d be surprised at how much you can increase your income from something so simple.
  5. Don’t forget about your career. In order to increase your income, focus on what you are doing now. Work your way up in your career and stay focused. Before you know it you will be 3 or 4 promotions in. Living off an income you never thought you’d receive.

The goal in achieving financial freedom is sticking with a plan that you know the best. Small wins are always important because they continue to drive you forward. The road to financial freedom is a long one, but it is not difficult per se.What are your favorite ways to achieve financial freedom? Do you believe you need to increase your income to live solely off of dividends? Let us know in the comments below. We’d love to hear from you.

Related: 5 Common Diversification Mistakes

Whatever you are doing… Escalate Your Life.

This article has been republished with permission from Investment Hunting.