Money troubles are something most people experience at some point. But despite all the different financial challenges out there, they almost always come down to just two key problems:
- Not earning enough money
- Not managing money properly
Every financial issue—struggling to save, falling behind on bills, or feeling stuck—can usually be traced back to one of these. While many people assume they need to earn more, the reality is most Australians have a management problem, not an income problem.
Are Australians Really Earning Enough?
According to the Australian Bureau of Statistics (ABS), the average full-time weekly earnings sit at $1,888 (as of 2023). That’s over $98,000 per year. Yet, many people still feel like they’re living paycheck to paycheck.
The problem? Poor money management.
While some families genuinely need more income, the majority struggle because they aren’t controlling their spending, saving effectively, or structuring their finances in a way that works for them.
However, there are cases where earning more is the solution. So, what happens when budgeting and cutting back isn’t enough?
The Young Family Struggling to Get Ahead
A young Australian family recently faced this exact challenge. They had two children, with the mum staying home full-time while the dad worked two jobs.
Their financial management was on point—they had cut unnecessary expenses, tracked their spending, and made smart financial decisions. But despite all that, they simply didn’t earn enough to build the life they wanted.
At that point, there’s only one solution: increase income.
Four Ways to Increase Income
There are only a few ways to earn more money without winning the lottery or inheriting wealth. Here are four options that can significantly boost income:
1. Ask for a Pay Rise
The simplest way to increase earnings is to ask for a raise. Yet, many Australians never do.
A study from Hays Recruitment found that 40% of employees felt underpaid, yet only a fraction actually requested a pay rise. Many assume their employer will automatically increase their salary—but that’s rarely the case.
People who negotiate their salaries tend to earn more over their lifetime than those who don’t. The worst that can happen? The boss says no. But in many cases, employers are willing to increase pay to keep good staff.
2. Work Overtime or Extra Shifts
For those in industries that allow overtime, extra hours can make a big difference. Many workers overlook this option because they don’t want to give up personal time, but even small increases in hours can add up significantly over a year.
For example, a full-time worker on $35 per hour who takes on five extra hours per week will earn an additional $9,100 per year before tax.
3. Get a Second Job
If overtime isn’t available, picking up a second job can be a game-changer. The gig economy has made it easier than ever to find flexible, part-time work. Options like Uber, delivery services, casual retail, or weekend hospitality work can quickly add an extra stream of income.
Even earning an extra $200 per week from a side job adds up to over $10,000 per year—a significant boost for many families.
4. Change Jobs for a Higher Salary
For some, the biggest income jump comes from switching industries or finding a better-paying job.
At Teach Me About Property, we’ve seen students double their income by changing careers. In many cases, people stay in low-paying jobs because they’re comfortable, even when higher-paying opportunities exist.
A single mum in one of our programs had been working a government job for years. She had a solid income but was capped in her earning potential. To buy a second property, she needed more money, and staying where she was wasn’t an option.
After months of considering her options, she made the leap into construction—a higher-paying industry. The result? She doubled her income.
Why Comfort is the Enemy of Progress
One of the biggest reasons people stay stuck financially is comfort. They get used to their routine, their workplace, and the security of what they know. But that comfort can stop them from reaching their potential.
Making a change—whether it’s asking for a raise, getting a second job, or switching industries—requires discomfort. It means applying for jobs, facing rejection, and pushing beyond what feels easy.
But the people who succeed financially are the ones who take action.
Are You Ready to Make a Change?
If income is the biggest thing holding you back, it’s time to do something about it. The good news? There are clear steps to fix the problem.
- Ask for that raise—the worst they can say is no.
- Take on extra shifts if overtime is an option.
- Start a side job for extra cash flow.
- Consider a job change if you’re maxed out in your current industry.
People who commit to increasing their income often see huge improvements in their financial situation. The only question is: Are you willing to step outside your comfort zone?
For those who do—we’ll see you at the top of the mountain.
