Ramit Sethi has been writing about money for 15 years and found that his audience is often resistant to advice.

Nobody wants to talk about earning more. There are many ways to have more income. That`s a big piece of the cake that no one thinks about, "Sethi told Business Insider. The second edition of Sethi`s bestselling book" I Will Teach You To Be Rich "is available starting May 14.

Earning more is hard for mass audiences to digest because they have never really thought they could earn more, "he said. Many people have two misconceptions that prevent them from earning more money, Sethi said.

"The first thing is, `I don`t have time.` The second thing is, `I don`t have an idea,`" he said. "So that`s a classic, but when they get it, it becomes really powerful because they`ve always thought of their money as a fixed pie and all of a sudden they`re like, wait, I can really expand the pie. And that`s an amazing feeling."

In the new edition of his book, Sethi says there are at least three ways to earn more money: asking for a raise at your current job, looking for a higher paying job, or starting a business or freelance.

If you want to ask for a job raise, Sethi writes, start preparing three to six months before your annual or quarterly review. "Become a high performer by setting expectations in collaboration with your boss and then exceeding them in every possible way," he wrote. Next, collect a "briefcase" of evidence to support your augmentation proposal. Finally, and most importantly, he writes, practice your negotiation.

"Remember that getting a raise is not about you," Sethi writes. "It`s about proving your value to your boss. You can`t tell them you need more money because your expenses are higher. Nobody cares. However, you can show how your work has contributed to the success of the company and ask for fair compensation. ".

If your company doesn`t offer growth potential, it may be time to find a new job or look for an extra job, Sethi said.

"When you accept the idea that you can earn more, one of the biggest surprises you will discover is that you already have skills that others would pay for, and you haven`t even realized it," he said.

Redefining or controlling a skill is our "strongest weapon" when it comes to creating wealth, according to Cal Newport, associate professor of computer science at Georgetown University and best-selling writer.

"It`s really like a magical elixir for job satisfaction - being very, very good at something," Newport told Brandon, an early retiree, on his podcast, The Mad Fientist. "You could generate more money. You could generate a lot more autonomy and leverage on how to generate that money.

Publication Date: 2019-05-16

Source: Courtesy of Ramit Sethi

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