Help! We Need to Raise Our Income

There are many reasons why you and your spouse might want to raise your income. Maybe you’ve recently taken on a new expense, suffered a pay cut or job loss, or you need to save toward a big goal, such as a vacation or a down payment on a house. Whatever the case, you’ve determined that you need more available money.

Luckily, there are a number of ways to free up extra money and raise the amount you’re bringing in. It takes teamwork and shared goals, but the two of you can absolutely work together to make more money for your family.

Want to know how? Let’s dive in.

Brainstorm Ways to Make More Money

One of the quickest ways to raise your income is for one or both of you to make more money. There are a number of ways you and your spouse can work together to make this happen. Here are a few options:

  • Ask for a raise at your current job
  • Consider a job change, at least for one spouse
  • Start a side business
  • Seek a job if one of you is not currently employed
  • Consider selling items of value for quick cash

Chat with your spouse about which approach (or combination) is going to work best for your family. However, you may come to the conclusion that you aren’t currently in a position to take on different jobs, or to change jobs. If that’s the case, there are other things you can do.

Cut Unnecessary Expenses

Cutting unnecessary expenses is another way to hold onto more money. In order to do this, you and your spouse will need to set aside some time to figure out where your money is going. Then, talk about where you can cut back.

Maybe there are a few monthly bills you can trim out of your expenses. Or, maybe you’re spending on a product or service you haven’t been using. Whatever the case, cutting back on expenses can be a major financial help.

Create a Budget

Building a budget together can help you and your spouse direct your money flow and make sure it’s going where it needs to. This can help you identify income you can set aside for savings or other big expenses that may be coming up. Coming up with a budget that works for both of you will be a team effort, so make sure you take your time in deciding how you want it to look. And, don’t be afraid to make adjustments if something about it is not working.

Pay Down Debt

Eliminating debt is yet another way to free up income, though it can take some time, particularly if you have a large amount of debt. When you work on your monthly expenses and your budget, factor in the amount of debt you have, and what it will take to get it paid down. Then, figure out a rhythm for paying it back that works well for your family. Once you’ve freed yourself from debt, you’ll have a higher income to work with.

Navigate Money-Related Conflict With Patience

Conversations surrounding finances can sometimes cause stress, strain, and conflict in marriage. It’s crucial to navigate money-related conflicts with patience and the right set of tools. Our book, The Good Fight, helps you lay the groundwork for working through disagreements in a constructive manner. If you need a little extra support, pick up a copy here.

Have you and your spouse raised your income, cut expenses, set a budget, or paid down a significant amount of debt? How did you decide on your plan of action? Share your successes in the comments.


  • John C says:

    Nice short article, thanks for covering this! Money issues and arguments are the leading cause of divorce in America. If you or a close friend are stuck in an endless loop of money issues, I highly recommend checking out Dave Ramsey or his book, The Total Money Makeover. He talks about the things in this article in a more detailed and practical sense, and I’ve found it to be very encouraging and motivating. It took some sacrifice through planning a very detailed budget and picking up a small side job for a year, but I worked through his baby steps and got out of debt and on a stable financial path!

  • zeke says:

    This is very interesting, Thank you for sharing your article. I really appreciate your efforts and I will be waiting for your further post thanks once again

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