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The Big question: How can I increase my personal cash flow?

A Simple Answer: Increase Income while decreasing expenses

This answer may be simple, but the strategies to increase income and decrease expenses may seem harder than it looks. In this episode, we will address how to increase income. Let’s talk about some strategies!


1. Examine and increase your income

  • Recurring income – This is your hard-earned money from your 9-5 job. Whether you are salary or hourly, this is your most reliable source of income. Try hard to set your budget to work within this, your recurring income!
  • Bonuses – If you receive an annual/bi-annual bonus or profit share, this can be an incredible ‘morale boost’ for your budget.  Use this “extra” income wisely for those things that “peak” above your budgetary needs. As much as it would be good to “budget” this money, it may be an income that is too variable and unpredictable.  Consider using this money to cover some “one-off” budgetary needs or paying down debt.
  • Side Income – If you have a side job, consider being intentional with the income you receive. Try to not have a side-source of income that would also derail and deplete your income (like Uber, DoorDash and Lyft).  You have extra expenses on auto maintenance/repairs and gas expenses.  This cuts into the bottom line of making the extra money.
  • Hustle – Many consider our current economy to be a ‘gig economy’. This is encouraging for those who have desired talents and skills.
  • Passive Income – There are a few ways to make money passively, such as rental properties or investment dividends. However, you need some capital to make these two areas work for you. Try not to increase debt to make this happen right away.
  • Sell your unwanted items/collectables. Although this is not a recurring way to increase your income, this is a great way to declutter the house and get some cash for the items that have collected dust over the years.

2. Relocate to a more cost efficient place?

  • There are many places to live that are more cost efficient. Typically, rural areas are much less expensive than urban areas. If you can work remotely, this may be a good option. However, you will often find that jobs pay less in rural areas when compared to urban areas. Do your research and make the move that is best for you and your family.

3. Job change or Career change?

  • What is your gifting?
  • Do you have a passion for your gifting?
  • What is the economic viability of your gifting?

4. Put that extra cash to work.

  • Remember… What is your goal for that extra cash flow?
    • If it’s to pay down debt, pay it down!
    • If it’s to save more, save it!
    • If it’s to be generous, then give it away!
  • Don’t get distracted by the extra dollars and spend them on more luxuries or lifestyle expenses.
    • If you are needlessly working yourself just to pay for lifestyle expenses, what are you really doing? You’re exhausting yourself for external pleasure. It’s empty and meaningless (Eccl. 5).
    • Put them to good work so that you can be generous, protect your family, and achieve your goals. It is required of Stewards that they be found faithful (1 Cor. 4:2).
  • Danger: Increasing cash flow while increasing expenses. It can be tempting to start spending away that extra cash while neglecting your reason for increasing your cash flow in the first place. Keep those expenses low as you increase your income. It is hard and takes discipline, but it is possible and is worth it!


  • Remember your goals. Make sure your plan accomplishes those goals.
  • Be disciplined to stick to the plan.
  • Don’t neglect the needs of your family.



Next Steps


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The topics discussed in this podcast are for general information only and are not intended to provide specific investment advice or recommendations.  Investing and investment strategies involve risk including the potential loss of principal. Past performance is not a guarantee of future results.

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