Teri Monroe, Author at Dinks Finance

About Teri Monroe

Teri Monroe started her career in communications working for local government and nonprofits. Today, she is a freelance finance and lifestyle writer and small business owner. In her spare time, she loves golfing with her husband, taking her dog Milo on long walks, and playing pickleball with friends.

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12 Ways DINKs Can Have Passive Income Starting Today

Posted on February 17, 2025 - 6:22 am by Teri Monroe

Are you a young adult looking to make additional income? Creating additional income doesn’t have to mean finding a higher-paying job or taking on a lot of additional work. Here are 12 passive income ideas for young adults.

1. Create and Sell Digital Products

If you have a skill that can be monetized, consider creating and selling digital products like a course or downloadable material. While this requires work upfront, your digital products will continue to generate revenue passively.

2. NFTs & Digital Art

Did you know that you can create your own NFT? This is a great way to create passive income for young adults. There are several steps you’ll need to take to create your NFT. After you mint your NFT and sell it at auction, see your profits grow.

3. Real Estate Crowdfunding

Have you heard of crowdfunded real estate? If you don’t have enough capital to purchase an investment property, crowdfunded real estate may be a good passive income stream for you. Crowdfunded real estate pools funds together to let average investors participate in the real estate market through private real estate investment trusts.

4. Purchase a Billboard

Did you know that you could purchase a billboard and rent out the advertising space? While the initial investment of buying a billboard can be high depending on the location, it can be a source of passive income for years to come. If you don’t have the funds to purchase a billboard, you can even rent out advertising space on your car!

5. License Photos or Music

If you have any photography or musical talent, licensing your art is the perfect passive income for young adults. You can sell stock images or audio files on Shutterstock or Epidemic Sound.

6. Fine Art Investing

You can purchase your own artwork and see its value increase. But, you can also buy fractional shares in paintings by the top-selling artists of all time like Basquiat, Banksy, and Picasso using platforms like Masterworks.

7. Wine and Whiskey Investment

If you’re a lover of wine or whiskey, why not turn your passion into profits? You may not know where to start, so look into platforms like Vivovest where you can purchase wine and whiskey investments and let the experts handle its care.

8. Self-Publish a Book

Have you always wanted to write a book? Self-publishing a book can be a great way to explore your passion and earn passive income in the future. You can easily publish your book on Amazon and reach millions of readers.

9. Create a Dropshipping Business

You can create a business using platforms like Shopify and not manage any inventory. With a dropshipping business, your customer’s orders get sent to a dropshipping supplier. While your business will require work, it is much less hassle than a traditional online store.

10. Crypto Staking & Yield Farming

What is crypto staking and yield farming? Staking involves locking up your crypto to support a blockchain network and earn passive rewards. This is a relatively low risk and will earn you passive income. Yield farming involves lending or providing liquidity to DeFi platforms to earn rewards. It is riskier than staking but will yield higher rewards.

11. Buy a Vending Machine

With as little as a $2,000 investment, you can get a vending machine business up and running. While managing your vending machine will take some time and effort, it does make for a good side hustle that may have passive potential in the future.

12. Invest in Precious Metals

Investing in gold, silver, platinum, and palladium can diversify your portfolio. Precious metals, especially gold, are known to hold their value and have seen growth in recent years.

Which one of these passive income ideas for young adults resonates with you? Share your thoughts in the comments.

8 Ways To Keep A Marriage Interesting When You Have No Children

Posted on February 12, 2025 - 7:00 am by Teri Monroe

According to recent Pew Research Center data, a growing number of couples in the United States are choosing not to have children, with around 47% of adults under 50 without kids stating they are unlikely to have children. If you’re in a DINK relationship, how do you keep your relationship thriving without children? Here are 8 ways to keep your marriage interesting.

1. Travel

DINKs traveling together — Image Source: Pexels

The best part about a DINK relationship is the freedom that comes with it. If you and your partner love to travel, create a bucket list of all the places you’d like to visit. Some couples find that alternating choosing a destination each year keeps their relationship fun and exciting.

2. Act Like You’re Still Dating

Do you still take your partner on dates? If not, it might be time to commit to regular date nights. According to a report from the National Marriage Project at UVA and the Wheatley Institute, husbands and wives who reported more frequent date nights reported being happier in their marriages and less likely to see divorce in their future. If you struggle with date ideas, you can write down date ideas and put them in a jar for when you need inspiration.

3. Set Goals Together

To mix up your relationship, why not set a goal together? You could train for a marathon together or learn a new skill. Studies have shown that when couples’ goals are aligned they experience increased motivation, connection, and satisfaction within their relationship. These shared goals and time together will keep your relationship interesting and bring you closer together.

4. Plan a Celebration

Sometimes it’s healthy to celebrate just for the sake of celebrating! We often celebrate weddings and the arrival of children, but it can be great for your relationship to bring your loved ones together to celebrate. Maybe you just got a promotion, hit a milestone birthday, or want to renew your vows.

5. Commit to Your Dreams

Do you support your partner in pursuing their dreams? In a DINK relationship, it’s so important to pursue your dreams and not get stuck in the same routine. Each year, take stock of your goals and write them down or create a vision board. These goals could be individual or shared goals.

6. Be Spontaneous

Part of having flexibility is keeping the spontaneity alive in your DINK relationship. You could surprise your partner with a weekend away or a spa day. Just showing that you care and that you can still have fun together will keep your relationship thriving.

7. Grow Together

Couple's retreat DINKs relationship — Image Source: Pexels

It’s always a good idea to work on your relationship. Why not try a couple’s retreat? This may be the reset you need to keep your relationship interesting. Many couples also pursue couples counseling if they feel like their relationship isn’t growing.

8. Discuss Your Legacy

How do you want to be remembered? Come up with a plan to work toward together with your partner. Think about the relationships you want to nurture and causes you want to be involved with. Put a long-term plan together based on your desires.

How do you keep your DINK relationship interesting? Let us know in the comments.

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Here Are The 7 Best Valentine’s Day Gifts For Women

Posted on February 10, 2025 - 7:00 am by Teri Monroe

Finding the best Valentine’s Day gift for women can be a challenging task. Take the stress out of your Valentine’s Day shopping with this list of the 7 best Valentine’s Day gifts.

1. Lovebox Message Box

Lovebox Best Valentine's Day Gifts for Women — Image Source: Amazon

With this Lovebox, Valentine’s Day romance doesn’t have to be reserved for just one day. You can leave sweet messages for your partner, a drawing, or animation. It’s perfect if you have opposite schedules from your partner or time apart. Messages are sent from an app that requires a $4.99 monthly subscription, and the box is $99.99.

One customer on Amazon wrote, “Got this gift for my wife for Valentine’s Day! It’s a neat gift that keeps on giving. Think of it as a digital love note holder/presenter. You use an app to send messages to the box whenever and wherever as long as it’s connected to Wi-Fi, and when the box receives it, the heart on the front spins around to notify your significant other. They can take the top off and read your sweet message to them.”

2. Solo Stove

What’s more romantic than a fire? With the Solo Stove, you can create your own mini bonfire, roast marshmallows, and cozy up together. Customers on Amazon give it a 4.6-star rating. One customer said in a review, “Y’all, as a back-porch-sittin’ lover, this tabletop Solo Stove is one of our favorite items we own! It is a great size, perfect for using beneath the cover of our porch, and simply delightful to have around.”

3. Oura Ring

Have you heard of the Oura Ring? This health tracker ring is very popular right now and helps you lead a healthy lifestyle. The Oura Ring 4 tracks over 30 biometrics, including sleep, activity, stress, heart health, and women’s health metrics. It also syncs with several health-tracking apps for iOS and Android. Your Valentine will love this thoughtful gift.

4. Therabody Smartgoggles

Does your partner struggle with headaches or has a hard time falling asleep at night? The Therabody Smartgoggles may be the perfect gift. The eye mask is heated and blackout and has temple massage. It also pairs with an app that has a library of free relaxing audio.

5. La Mer Travel Set

This La Mer Set is the epitome of luxury. The travel set includes a lifting and firming mask, regenerating serum, the eye concentrate, and treatment lotion. A little bit of product goes a long way, as La Mer uses the best ingredients available.

6. Wonderbox Getaway for 2

Want to plan a getaway with your sweetheart? With Wonderbox, she can choose from hotels and excursions for the perfect vacation. There are 52, 000 hotels across the US ranging from three to five stars that can be chosen from. This is a great way to create memories with your partner.

7. Slip Gift Set

Slip Gift Set Best Valentine's Day Gifts for Women — Image Source: Amazon

The Slip Gift Set is a thoughtful Valentine’s Day gift for women. The silk pillowcase, eye mask, and hair accessories are great for your skin and hair. Plus, it’s very luxurious. One buyer wrote, “I love this set. You get a silk pillowcase, silk eye mask, and several silk scrunchies. All items are extremely great quality. I love that the eye mask is safe for lash extensions. As an added bonus- shipping was quick! I would purchase again.”

What are you planning to buy for your Valentine this holiday? Let us know in the comments.

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Need A New Wedding Band: Here Are The Top 7 Wedding Bands on Amazon

Posted on February 5, 2025 - 7:00 am by Teri Monroe

If you’re planning a wedding, you may be looking for stylish wedding bands that will stand the test of time. Or, you may just need a replacement wedding band. While there are many options for women’s bands, finding a unique men’s wedding band can be a little more challenging. We’ve taken the stress out of finding the perfect band and found the top seven wedding bands you can purchase on Amazon.

1. Manly Bands The Angler Ring

Manly Bands have several options for stylish unique men’s wedding bands that are created by a husband and wife team. The Angler has beautiful Hawaiian Koa wood and exotic abalone shell inlay. Best of all, the ring is scratch-resistant and good for an active lifestyle. There’s also a free lifetime warranty. The angler is $260 and has a 4.6-star rating. One customer wrote, “Overall, I am thoroughly impressed with this ring! At first, I was super hesitant to buy a wedding band from Amazon, but I went ahead and gave it a shot. My husband loves this ring, the size guide was perfect and it adds a hint of color to his wardrobe. If you’re looking for a high-quality band at a reasonable price, I definitely recommend Manly Bands!”

2. Groove Life Silicone Ring

Do you need a wedding band alternative for working out, outdoor activities, or just something that is more casual? Silicon rings are a great alternative to your formal wedding band. Groove Life Silicone Rings has several unique options for men’s wedding bands. Choose from several different patterns like this camo ring. The silicon rings are breathable and come with a lifetime guarantee. Plus, they cost just $15.

3. Whiskey Barrel Wood Ring

unique men's wedding band wood inlay — Image Source: Amazon

If you’re looking for an affordable and stylish ring, this 100s Jewelry Gunmetal Gray Tungsten Ring could be the perfect option. The ring features a whiskey barrel wood and elk antler inlay that’s very modern. The ring is heavy-duty and also water and scratchproof. This ring costs just under $50 and gets a 4.6 star rating.

4. Cuban Link Band

Cuban Link Unique Men's Wedding Band — Image Source: Amazon

This 10K yellow gold Cuban link band has a smaller width than other bands and an eye-catching link design. It also comes in 14K and several different metals, so you can pick your favorite. The ring is expertly crafted in the USA by Claddagh Gold, a family-owned business with years of jewelry-making expertise.

5. Black Gemstone Ring

Gem Stone Men's Unique Wedding Band — Image Source: Amazon

This unique men’s Black gemstone wedding band is perfect if you want to incorporate gemstones in your band. The band has a satin finish, thin band, and 10K yellow gold. The black diamonds total 0.59 carats. Plus, it’s made in the USA.

6. White Gold Diamond

White Gold Wedding Band — Image Source: Amazon

If you prefer white diamonds, this white gold diamond ring is stunning. The ring features .10 carats and a sleek and modern design. It is also made by a small business in the USA.

7. Gold and Copper Band

Unique Men's Copper Wedding Band — Image Source: Amazon

If traditional rings are not for you, the rustic vibes of this gold and copper band could be perfect. Hammered 14K gold, silver, and copper create a distinct design on this band. The ring is handcrafted in Israel by an artisan. One customer wrote in a review, “There was nothing about this ring to dislike. The fit was absolutely great. It’s an unusual ring, and it catches people’s attention. I am thrilled with the product the service, the luxe, and the comments.”

Which men’s wedding band is your favorite? Let us know your thoughts.

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Holidate Cruises: Try One of These 6 Child Free Cruises

Posted on February 3, 2025 - 7:00 am by Teri Monroe

Are you planning your next holiday? A cruise is a great option for a relaxing getaway with your partner. According to Statista, more than 18 million Americans took a cruise in 2023, making it a very popular option for vacationers. But, what if you aren’t a fan of cruises geared toward families? If you want to enjoy an adults only vessel, there are several options for child free cruises. Here we’ll talk about the top six options for you to consider.

1. Virgin Voyages

Known for their child free Virgin Voyages is a premiere cruise line for adults. Virgin ships have more than 20 eateries to choose from onboard, and on every trip, passengers receive luxurious amenities. You can expect free Wi-Fi, fitness classes, spa services, excursions, casinos, entertainment, and premium drink packages while aboard. In 2025 and 2026, Virgin will offer adult cruises to Europe, The Caribbean, Southeast Asia, and more.

2. Viking Ocean Cruises

Choosing an adult only cruise line — Image Source: Pexels

Viking also has several options for adult only cruises. Choose from destinations like the Western Mediterranean, Alaska, New Zealand and Australia, Canada, or China. Viking creates their cruises for the curious adult traveler and itineraries usually include lectures, music, art, and theater performances. Ships also feature local cuisines and even cooking lessons.

3. Regent Seven Seas Cruises

Regent has many luxury amenities on their adult only cruises. Their suites include walk-in closets, private balconies, and large bathrooms. Everything is all-inclusive including 24-hour in-suite dining and valet laundry service. Unlimited shore excursions are also included. Destinations include Africa, Alaska, Asia, Australia & New Zealand, Bermuda, Canada, Europe, and more.

4. Carnival Cruises

While most Carnival Cruises allow kids, there are parts of the boat that are adult only. Carnival offers its Serenity Adult Only Retreat if you need some time with just your partner. This is available on all ships. While it might not be an entirely child free option, it offers a space just for grownups.

5. Saga Cruises

Enjoying child free cruises — Image Source: Pexels

A British cruise line, Saga Cruises offers voyages for passengers 50 and over. Saga has both river cruises and ocean cruises to destinations around the world. Each cruise ship only holds just under 1,000 passengers so guests will enjoy a less crowded environment with more personalized service.

6. P&O Cruises

P&O Cruises has seven ships in their fleet, and two of them are exclusively adults only. This includes the Aurora a mid-sized ship. The Aurora has everything from an interactive gameshow, live music, a casino, and gin tasting classes. There are several bar, lounge, and restaurant options while aboard.

Selecting an Adult Only Cruise

With many options available on several cruise lines, it’s hard to choose just one vacation! It may be helpful to come up with your ideal destination with your partner and what time of month you’d like to travel to narrow down your search. Then, you can select a cruise line that works for your travel plans and budget.

What kind of cruises have you been on? Have you enjoyed child free cruises?

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Master the Art of Cheap Travel: Hacks for Exploring on a Shoestring Budget!

Posted on January 27, 2025 - 7:00 am by Teri Monroe

According to budgetyourtravel.com, average vacation expenses are up more than 3% compared to last year. While the cost of travel is more expensive, traveling on a shoestring budget is still possible. With the right tools, pre-planning, and cheap travel hacks, you can still explore the world without breaking the bank. Here, we’ll help you master the art of cheap travel so that you can visit every destination on your bucket list.

Choose Cheap Transportation

Transportation can often be the biggest expenditure when you are traveling. For a week’s vacation, a couple spends an average of about $1,000 on transportation for a domestic trip. You can reduce these costs with a few cheap travel hacks. First, it’s always a good idea to see if it’s less expensive to drive to your destination rather than fly. If this isn’t possible, you’ll want to try and find the cheapest flight possible for your trip. This means that you should look to book flights early, travel out of season, and fly on a budget airline.

Maximize Your Budget

When planning and saving for your trip, you should use a credit card that offers cashback rewards or travel points. If you can use those points to book your flight or hotel, some of your expenses will be covered. In addition to using a travel card, you can also find discounts on attractions on sites like Groupon, AAA, and Viator. TripAdvisor also usually has a list of top free attractions for many destinations. By planning your itinerary and making smart choices, you can maximize your budget and make the most out of your travel.

Use The Sharing Economy

In the digital age, travelers are now able to connect, collaborate, and share in ways that were never possible before. By using the sharing economy, you can save significant money on travel. For example, if you plan on traveling abroad why not set up a house-sitting or pet-sitting job while you’re there? The idea is that no money changes hands during these interactions, instead you get free accommodations for providing a service. You can also consider sites like Couchsurfing to find a free place to stay with a local. In addition to saving money, you’ll also get an authentic experience staying with a local host.

As far as meals are concerned, you can also use the sharing economy to eat with local cooks. EatWith lets locals post listings for things like dinner parties and specialty meals that travelers can then sign up for. These opportunities to eat with locals are usually less expensive than a food tour offered by a company.

Volunteer Abroad

If you want to fully immerse yourself in a new culture, volunteering abroad or participating in a work exchange is a cheap travel hack that allows you to explore the world. One great site to find work exchange programs is Worldpackers. There is a fee to sign up, but many similar sites also charge a small fee. Then, you’ll have access to their database of opportunities. Most volunteer and work exchange opportunities include housing and meals in exchange for working on a farm or in a school, for example.

How do you afford to travel on a shoestring budget? Let us know where you are headed on your next trip.

From Renting to Owning: Smart Financial Moves to Make Homeownership a Reality!

Unlock Extra Cash: Innovative Side Hustles for Women in the Digital Age!

Posted on January 22, 2025 - 8:12 am by Teri Monroe

Everyone can use some extra cash today, even if you have a full-time job. In fact, according to Zapier, one in three Americans have some kind of side hustle. The good news is that in the digital age, there is no limit on what kind of side hustle you can pursue. Side hustles perfect for women are inventive, exciting, and full of opportunity. With just a few hours a week, you can generate extra income for yourself and your family.

Blogging

If you enjoy writing, building a successful blog can help you generate income. While at first you will need to build your viewership, after you are established, there are a plethora of opportunities for sponsorships and monetization. If you blog about a topic you enjoy, this side hustle for women can be very cathartic.

Virtual Assistant

If you are organized and a whiz at getting tasks done, a virtual assistant side hustle may be for you. This side hustle for women usually assists small business owners with a variety of administrative tasks, which may include social media content creation and other marketing or customer service tasks. There are several places to find virtual assistant jobs like on Upwork and on Facebook groups like Freelancing Females.

Online Tutoring

If you’re particularly good at math, English, or the sciences, becoming an online tutor is the perfect side hustle for women. Most online tutoring jobs are very flexible and you can set your own schedule. Not only will you be making extra cash, but you’ll be helping students succeed.

Transcription

Are you good at typing? A transcription side hustle might be a good fit. Transcription is taking audio and video clips and typing them out. You may be transcribing everything from legal proceedings to medical consults.

Flip Domains

Did you know that buying and selling website domains can be a lucrative side hustle? The idea is that you buy domains at a low price and sell those domains to interested parties for more than you paid. The best part of this side hustle is that it is mostly passive.

Resume Writing

If you’re interested in resume writing, most writers make between $25-$30 an hour for their skills. You may want to become a Certified Resume Writer, though, to set yourself apart. Resume writers can also write cover letters and optimize LinkedIn profiles for their clients.

Website Design

Designing websites as a side hustle doesn’t have to take a lot of experience. Many web designers are self-taught and there are many courses online you can take to learn coding and web development. Today, website designers are also a one-stop shop for clients and will write copy, develop apps, and create marketing strategies, including SEO.

Completing Surveys

An easy side hustle for women is to take surveys online. While you may not qualify for every survey you apply to, there is a good deal of money to be made participating in surveys. Sites like User Interviews will send you surveys you may qualify for and reward you with gift cards. These surveys may require video or phone calls as well as online questionnaires, depending on the survey.

What kind of side hustles are you interested in? Have you had success with any of these side hustles for women?

From Renting to Owning: Smart Financial Moves to Make Homeownership a Reality!

Posted on January 20, 2025 - 7:00 am by Teri Monroe

Do you want to get out of the rent trap and invest in a new home? According to a recent CNN poll, the majority of current renters, about 86%, say they want to buy a home but can’t afford one. Homeownership doesn’t have to be a distant dream. With the right financial moves, you can put yourself in a good position to buy your first home. Here are the steps to take that will put you on the path to homeownership.

Jumpstart Your Savings Plan

If you’re in the beginning stages of planning for homeownership, creating a savings plan is essential. You may need to think of creative ways to cut expenses like getting a roommate, taking public transit, cutting back on discretionary spending, or starting a side hustle. All of these financial moves will help jumpstart your savings and help you afford homeownership while still paying rent.

How Much Can You Afford?

If you’re serious about homeownership, getting pre-approved for a mortgage will help you better understand how much you can afford. This can help you narrow your search and create a realistic timeline for saving for a home. Next, you’ll need to calculate the total cost of owning a home so that you can make sure your timeline is appropriate for your budget.

Calculate The Total Cost of Owning a Home

Calculate the cost of homeownership — Image Source: Pexels

Are you prepared for the upfront costs of owning a home? To prepare for homeownership, you may need a down payment of up to 20%, closing costs, and a good rule is at least 2 months of mortgage payments, including principal, interest, taxes, homeowner’s insurance & any HOA dues. These costs should be less than 28% of your gross income. It’s also a good idea to set up a sinking fund for regular home maintenance. You also will need to cover moving costs, which, even for a local move, can cost an average of $2,500. Once you calculate these costs, you can make sure that you are saving enough each month for your goal of homeownership.

Work on Your Credit Score

One of the most important factors when applying for a mortgage is your credit score. Lenders will do a deep dive into your credit history. To prepare for homeownership, it’s important to understand things that may have a negative impact on your score. If you’re getting ready for homeownership, you should avoid any new credit applications, decrease your debts, and dispute any inaccuracies on your credit report.

Understand The Best Type of Loan for You

While conventional loans may require anywhere from 5%-20% down payment, there are other options for loans. Exploring all of your options can help you on your journey to homeownership.

FHA Loans: FHA loans require a down payment as low as 3.5%. These loans are good for buyers with less-than-perfect credit. The lower your credit score, though, the larger the down payment will be.
VA Loans: VA loans are designed for veterans and active military members. They also require no down payment.
USDA Loans: If you live in a rural area, a USDA loan may be an option. These loans are backed by the Department of Agriculture and also don’t require a down payment.
First-Time Homebuyer Assistance: Some cities and counties offer down payment assistance and low-interest loans for first-time home buyers, along with closing cost assistance. Grants may also be available if you meet certain benchmarks.

Preparing for Homeownership

It may seem challenging to rent and still prepare for homeownership, but it’s not impossible. With the right financial moves and knowledge, your dream of owning a home can become a reality. Are you saving for a house? What are your biggest challenges?

Double the Income, Double the Dreams: Goal-Oriented Financial Strategies for DINKs!

5 Essential Types of Financial Planning Every Adult Needs to Know About!

Posted on January 15, 2025 - 6:24 am by Teri Monroe

Financial planning is the process of setting, planning, and managing finances. There are many essential types of financial planning to help you achieve your short-term and long-term goals. In order to organize your finances and be successful, it’s important to know about these five types of financial planning.

1. Tax Planning

Does tax season stress you out? Tax planning can help you feel more prepared. It is the process of looking at your financial picture to maximize your return or lower the amount of money you may owe. Tax planning is not about evading taxes but instead being tax efficient. This means maximizing your deductions, credits, and exemptions. Tax planning includes several considerations like timing and size of income, purchases, selection of investments, and other expenses.

2. Investment Planning

Where you invest your money matters. Investment planning can help you focus on your investments to reach your goals. Investment planning includes looking at your current financial situation and then selecting investments based on your current goals. Investments will also be chosen based on your risk tolerance. Your portfolio should include a diversified mix of investments to achieve your financial goals.

3. Retirement Planning

Types of financial planning retirement planning — Image Source: Pexels

Do you know how much you’ll need to save to retire and live comfortably? Retirement planning is a type of financial planning that can help answer these essential questions. You will choose the right investment options for your desired lifestyle in retirement, manage your current debt, and adjust your contributions as needed as you get closer to retirement.

4. Cash Flow Planning

Tracking and forecasting your cash flow is an essential type of financial planning that everyone should practice. In paying attention to your cash flow, you can manage liquidity and avoid any potential problems or shortages. This planning can help you stick to a budget and keep your spending on track.

5. Estate Planning

Estate planning is an essential type of financial planning if you want to protect your assets after you die. It means putting the necessary documents in place, like a will, power of attorney, or trust. This can help minimize the burden on beneficiaries and make sure your wishes are carried out.

Understanding Types of Financial Planning

While there are also other types of financial planning, these five are essential to managing your financial health. Whether you are navigating financial planning yourself or hiring an expert, having the knowledge and tools to plan for the future will set you up for success.

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From Zero to 8 Figures: Strategies That Can Skyrocket Your Income!

Posted on January 13, 2025 - 7:00 am by Teri Monroe

How to skyrocket your income to 8 figures

If you dream of making 8 figures a year, you’ll need to think strategically about how to increase your income. This will require more than just asking for a raise or finding another job. Here, we’ll discuss strategies that you can implement to put you on your way to millions.

Mentorship and Leadership Training

The first step to making 8 figures is to set the groundwork for success. You’ll need to surround yourself with the right mentors and invest in leadership training geared for C-suite-level executives. Many top-level university business schools offer leadership programs that would fit your needs.

Continue Your Education

Many executive positions benefit from the skills learned in an MBA Program. According to a Harvard Business Review study shared in 2021, close to 1 in 3 CEOs surveyed have earned an MBA. Always consider the return on investment before getting more education. However, if you have your sights set on 8 figures, you probably will need an advanced degree.

Invest in The Stock Market

Regardless of your financial goals, investing in the stock market is a smart decision. On average, the stock market increases 8% per year. While there are opportunities to make large sums of money by betting on the right stocks, diversifying your investments is always a good money decision.

Start a Company

It’s often said that if you want to increase your income, you have to get a side hustle. If you’re looking to earn 8 figures, you need to either start a successful company or have a multi-million idea. Everyone has at least one skill that is monetizable. Finding your niche and building a business around it is the best way to increase your income to 8 figures. At first, you may need to start your business of small while you continue your full-time job. As your business grows, you can look for investors or join a small business incubator to find the right people to help propel your company forward. With some hard work and determination, you can make your dream of 8 figures a reality.

Network

If you travel in the right circles, there will be more opportunities to reach an 8 figure income. Networking, getting involved in charities, and living in a business-friendly city are all creative ways to meet people who can help you find success. Building your network won’t happen overnight but will pay off in the end.

Invest in Real Estate

Investing in the commercial and residential real estate market can have big returns and help you on your way to 8 figures. However, selecting the right properties is crucial. Properties need to have the right rental price and warrant high returns if you are going to have a healthy real estate portfolio. If you are unfamiliar with managing properties, make sure to surround yourself with people who have industry experience so that you don’t make costly mistakes. It’s always best to start small and then build on your real estate investments.

How to Make 8 Figures

The road to making 8 figures is not an easy one. Hopefully, these strategies will help you on your journey to skyrocketing your income. With planning and perseverance, you can make more money than you dreamed possible.

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