Here’s the truth, the more money you have coming in every month, the easier it will be to reach your financial goals. But if you’re anything like me, it can be tough to maintain your motivation to make money.
Whether you find yourself thinking it’s too hard, or you just start doubting your ability to earn more money, the journey to financial security is not always easy.
That’s why it’s so important to address your motivations about money.
If you can get yourself in the right frame of mind, you’ll be much more likely to persevere–even when the going gets tough.
In this article, we’ll be sharing the top ways to increase your motivation to make money.
So, whether you’re just starting to take your money more seriously or you’ve been building wealth for years, these tips will help you keep making progress.
1. Set Better Goals
If your motivation to make money is low, the first place to look is your financial goals.
Why?
Because setting a big, meaningful goal is the key to motivation.
Think about the things you enjoy doing in life – those tasks or activities that you’re naturally inclined to do. Chances are, the reason you’re motivated to do these things is that they come with a meaningful reward.
Likewise, your financial goals should be deeply meaningful to you.
In other words, why do you want to earn more money?
Answering this question will help you formulate a more concrete motivation for increasing your income.
Another way to set better goals is to make sure they are specific.
For example, having a goal to “earn more money” is vague, and you have no way to tell whether you’ve accomplished it.
On the other hand, a goal that says, “I want to increase my income by $2,000 in the next three months” is specific, measurable, and time-bound. After three months have passed, you’ll easily be able to assess whether or not you’ve reached this goal.
By setting specific, meaningful, and measurable goals, you’ll be more motivated to wake up every day and work toward achieving them.
2. Track And Celebrate Your Progress
All too often, people forget to reflect on and celebrate how much progress they’ve made.
It’s not enough to simply set goals – you must also recognize how far you’ve already come.
If you’re constantly working toward your next goal and aren’t taking any time to celebrate, you’re sure to burn out.
This is because it’s difficult to stay motivated when there’s no end in sight.
Instead, be sure to recognize and reward yourself for each milestone you reach, no matter how small it is. This will create positive associations in your brain between following through and feeling rewarded.
One way to put this tip into practice is to start tracking your monthly income on a bar chart.
Then, plan how you’re going to celebrate when you reach every new income goal.
3. Start A Side Hustle You’re Passionate About
Another way to maintain your motivation to make money is to start a side hustle you’re passionate about.
While you can try to increase your earning potential at your full-time job, having a side-hustle of your own is an amazing financial motivator.
There’s something about having ownership of a business that makes it much more exciting to work on.
After all, you get to be the boss and call all the shots.
Also, if you build your side hustle around a hobby or industry you’re passionate about, you’ll have even greater motivation to make it successful.
This is because your reasons for pursuing it will go beyond finances.
So, instead of just having a motivation to make money, you’ll also be fueled by intrinsic motivation. In other words, you’ll enjoy working on your side hustle just for the sake of creating it.
Want to make the most of your side hustle? Check out a few of our other posts:
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4. Reduce Your Expenses
At first, it may not seem like spending less would fuel your motivation to make money. But reducing your expenses is a phenomenal way to start building positive momentum toward your goals.
The fewer expenses you have to pay, the more money you’ll have at your disposal.
That means you’ll be able to keep your money and start putting it toward your financial priorities. You’ll get a taste of what it feels like to have more money, and you’ll be motivated to continue.
Reducing your expenses will make a significant difference in your overall financial health. And, it will build a wave of momentum toward reaching your financial goals.
We especially recommend using this momentum to get out of any debt you’re carrying.
There’s nothing like debt payments to hinder your money-making efforts, and nothing will sap your motivation quicker.
If you can minimize unnecessary spending and eliminate your debt, you’ll overcome two huge obstacles to money-making motivation.
5. Make It A Competition
One of the best ways to motivate yourself to make more money is to make it a competition.
I mean, who doesn’t like to win?
When you compete with someone else to see who can earn more money, your motivation will soar through the roof.
Look for a friend, family member, or colleague who is also interested in increasing his or her income. Then, keep track of how much money you each make every month, and establish a prize for the winner.
With a little friendly competition, you and your friend will both stay motivated in your money-making efforts. And, as a bonus, you’ll have someone who is always keeping you accountable for your goals.
The path to financial freedom doesn’t have to be lonely, and inviting a friend along with you is a proven way to stay motivated to make more money.
6. Find Sources Of Inspiration
A common reason people lose their motivation to make money is that they lack a supportive community.
In other words, if you only surround yourself with people who are disinterested in entrepreneurship, it will be much harder to stay committed to your goals.
Thankfully, there has never been a better time to get inspired by others who share your vision.
The internet is full of amazing, helpful resources. From YouTube channels to blogs, books, and podcasts, there is a world of personal finance information just waiting for you to explore it.
Influencers, bloggers, and those who share their journey online can be great sources of inspiration.
They serve as reminders of what’s possible, and they share valuable lessons from their experiences.
Look for a few people online who share content about motivation to make more money.
By keeping up with them, you’ll be reminded that you’re not alone on your journey. And, with enough dedication, you could be the one motivating others with your story someday.
7. Find A Mentor
Another way to increase your motivation to make more money is to learn from a mentor. Mentorship is one of the most valuable resources for accomplishing practically any goal.
While learning from your peers is a great option (more on that later), a mentor has already walked the path. Ideally, your mentor should have successfully achieved the result you want in your own life. This way, he or she will have the experience and wisdom to guide you.
Not only will a mentor hold you accountable for your goals, but he or she can also provide you with practical advice for how to achieve them.
To get the most out of mentorship, try to find someone who has a background that is similar to your own.
For example, if you’re currently trying to pay off a mountain of debt, look for a mentor who used to have a similar amount of debt and was able to get rid of it.
8. Join A Mastermind Group
If you don’t have any friends who are interested in improving their financial situation or you’re struggling to find a mentor, join a mastermind group!
Masterminds are groups of people who provide a combination of support, education, and peer accountability.
Group members challenge each other to set and reach their goals. They can even help you come up with creative action plans to help make sure you’re doing everything you can to be successful.
Often, other people’s perspectives are exactly what you need to get out of a motivation rut!
There are a variety of different types of mastermind groups, but most focus on entrepreneurship.
Try looking for a local group in your city, or search for a virtual mastermind group online.
9. Focus On Sales
Whether you have a side hustle, you run your own business, or you’re working for someone else, sales are what bring in the money.
It goes without saying, but more sales equal more money!
And here’s the thing, making sales can be incredibly addictive.
The more you do it, the better you’ll become at it. And the better you become, the more money you’ll earn. The more money you earn, the more motivated you’ll be to keep getting better!
While there are a lot of things you could try to make more money, sales should always be your primary focus.
Allow sales to be the driving force in your money-making efforts. This will go a long way in building momentum and keeping you motivated to continue.
10. Improve Your Physical Fitness
You may be thinking, what the heck does fitness have to do with money motivation?
Well, it has a lot to do with it!
Like making more money, working out requires discipline and motivation.
By getting into the habit of exercising, you’ll train yourself to push through discomfort, even when you’re not feeling motivated. This practice will help you bring that same fire and ambition to your money-making efforts.
Also, exercising and maintaining a healthy diet can improve your ability to focus, increase your energy levels, and help you stay motivated.
By making fitness a priority, you’ll be setting yourself up for success in nearly every other area of your life.
To start improving your physical fitness, be sure to get enough sleep, incorporate daily physical activity, drink lots of water, and get good nutrition.
You may be surprised how much these small lifestyle tweaks can improve your motivation to make money.
11. Don’t Burn Yourself Out
Most of us know what it feels like to be stressed, overwhelmed, and overworked.
And when you find yourself in this negative state of mind, motivation to do anything difficult is usually nonexistent.
That’s why you need to give yourself some wiggle room.
Make the time and space to take breaks and vacations from work.
While it might seem impractical sometimes in the short term, it’s essential for your long-term success.
Taking time off helps to put your monetary goals into perspective. It reminds you of what you already have to be grateful for in your life, and it gives your mind a break from problem-solving mode.
The best way to avoid burnout is to plan your breaks and vacations ahead of time.
Don’t wait until you’re at peak stress level to take time off. Instead, incorporate scheduled periods of rest throughout your workdays, weeks, and years.
Not only will these breaks allow you to feel refreshed and rejuvenated, but they’ll also allow you to return to your work with new motivation and fresh ideas.
Final Thoughts
When it comes to earning money, your mindset is half the battle.
Fortunately, by utilizing these tips, it’s easy to maintain your motivation to make money, even when you’re facing obstacles.
Just remember, you don’t have to work toward your goals in a vacuum, and you’ll be much more likely to succeed if you collaborate with others along the way.
And even when you don’t feel motivated, do your best to keep putting in the work!
As I like to say, motivation will come and go, but discipline drives results.
