How to easily increase monthly income by $300+ FAST

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When you’re paying off debt it can seem like a never-ending battle, but what if you had an extra $200 or $300 per month you can use to pay off your debt?

I’m sure that would be a big help.

That’s why in this message, I’m going to share the tricks I used to help one couple that increased their income by $339 per month — in just two days.

In the Bible, there’s a story of a woman whose sons were being taken away for her husband’s debt. Unfortunately, the husband passed away. She went to the Prophet Elijah to see if he can help her with this debt problem.

He didn’t tell her to stop spending on certain things, he didn’t tell her to negotiate with the creditors, he told her to use what she had to produce additional income. 

Creating additional income is the best thing you can do to get out of debt.

Phil and Janica, a couple in their 30s, reached out. They were doing well financially but they wanted to find a way to pay off their student loans faster.

The first thing we did was look at ways they could increase their income, so they would have more money to put towards paying off the debt.

These are some of the strategies that I recommended that helped Phil and Janica save $339 per month.

Reduce Cell Phone, Cable, and Internet Bill

To help people negotiate those bills I created a 3-step negotiating process that greatly increases your chances of success.

Step 1

The first part of the three-step process is to communicate that times are tough and that you’re looking for any discounts that will lower your monthly bill.

You begin with this, and typically they will give you some response like, “You’re already getting our best offer.” That’s when you go to step two of the strategy.

Step 2

Step two of the strategy is to bring in their competitors. 

You say, “I saw that your competitor is offering THIS deal. I prefer to stay with your company, as you see I’ve been a loyal customer, do you have any comparable deals?” 

You let them respond to that, and they may say, “We have something,” or they may say, “No, we don’t have anything that can compete with that. You’re already getting our best deal.”

Step 3

That’s when you move into step three of the process, “Okay, I wish there was something you can do to help, unfortunately, we’ll have to switch to your competitor. Can you please transfer me to your cancellation department?” This should allow you to get a better deal. 

Nine times out of ten, if you make it to the third part of the strategy, you’ll have lowered your cable, internet, and cell phone bill.

This three-step strategy alone helped Phil and Janica increase their income by $113 per month.

Lower Home and Car Insurance

The key with the home and car insurance is to shop around every year.

Sometimes we get lazy, and we automatically renew without ever shopping our rates. When it comes to home and car insurance, you should shop your rates every year.

You can use to compare car insurance rates. You can use to compare your home insurance rates.

In addition to shopping your rates, you should make sure your coverage makes sense.

If your car is worth $2,000 what’s the point of having full coverage? You may be perfectly fine with just having liability. 

So, shop your rates to make sure you’re getting the best price, and take a look at your coverage to ensure you’re not paying for coverage you don’t need.

Doing these two things can help you save significant money on your car and home insurance, and bump that income up every single month.

Change Life Insurance

The biggest issue I see with life insurance is that people try to use it as an investment, causing them to lose a lot of money. 

Insurance is not an investment.

It doesn’t matter what the person trying to sell it to you tells you. All you need is term life insurance and it can be just 10% of what other life insurance policies cost.

Phil told me they had an indexed life insurance policy, and they were paying $233 per month.

I asked why he had the policy. These were the reasons he gave:

  • The investments grow tax-free
  • They can borrow from the cash value
  • They don’t lose money if the market goes down

While that all sounds good, I let him know they can get tax-free growth and borrow from their 401k. Also, when you borrow from your 401k the interest you pay goes back to you, instead of going to an insurance company.

His third point was he wouldn’t lose money if the market goes down.

What he didn’t know was the high fees that come with the insurance policy were erasing most of the gains that came from the money being invested.  Therefore, while you don’t participate in the downside of the market, you also get only a fraction of the upside.

Lastly, as it relates to life insurance, Phil wanted to leave a legacy for his children. That was the most important thing to him.

Phil worked hard to save money in cash value, but he was completely unaware that none of that money goes to his children.

When he passes away, only the insurance benefit goes to his family. The cash value stays with the insurance company.

So, don’t be fooled into thinking expensive permanent life insurance policies are worth the money.

Phil and Janica switched to term life insurance for $55 per month, and now have an additional $178 per month they can use to invest and leave a real legacy for their children.

These are just a few things we looked at to help Janica and Phil save over $300 every month. This is money they’re able to use to pay off their student loans faster and enjoy their life.  

You can use these strategies to do the same thing.

Here’s a Free Video Series for You

I have a free video series titled Bible Money Makeover. It gives you tips on eliminating debt, increasing your income, and investing.

You can start watching that free video series by clicking this link:

Let Me Help You Pay Off Debt Faster

If you’re in debt, and you’re serious about wanting to get out of it, I can give you a plan that will help you pay off your debt faster.

I give you strategies to increase your income, negotiate your balances, and lower your interest rates.  Visit to learn more about our debt elimination planning service.

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