We all know there are only two ways to save money. The first is to reduce your expenses. If you spend less, then whatever is left is your savings. The second is to increase your income. If you keep your spending to be the same, what you earned after your spending will be your savings. But which way works better?
I think the key point here is whether your income is scalable. If your income can vary according to the amount of work that you produce, then it's scalable. If that's the case, then you might want to focus on earning more income. My job as a tutor is scalable. A salesman job whose income is tied to the commission earned from the sales made is also scalable. Focusing your energy on an active income stream which is scalable makes sense because there's a lot of benefit besides having a ......