How Does The Average Joe Increase Monthly Income And Become Wealthy?


Millions of Americans understand how it feels to work full-time and still only make enough to “get by.” The average household income for the Nation is roughly $40,000. Of course, this number is loosely based off various statistics. Nevertheless, even this amount is not enough for many families at times.

If you are tired of being in a financial dead end and would like to learn how to increase your monthly income while still maintaining your average Joe lifestyle, consider these tips.


You probably already knew that this would be a major point, but most people don’t realize just how important a strong budget is to a household income.

Managing a budget can be as easy or as difficult as you’d like it to be. Essentially, most basic budgets are categorized into major expenses: Food, rent/mortgage, car payment, phone bill and other expenses. However, complicated budgets will dig deeper into those major categories, creating subcategories.

Strict budgeters may even use spreadsheets to help analyze every expense and expected income within a month’s time.

An average Joe can budget by keeping a simple mindset. Your mindset needs to be that you will not go over your budget. It can be easy to spend more than you should. Think this: I will set it and not budge.

In your budget, you should make a plan to set money aside every month for emergencies or net-worth growth. Beginners should start with 10-15 percent. For example, if you make $4,000 every month, plan to take at least $400 and place it in a saving’s account, which leads to my next point.

Open a savings account

You should strongly consider opening some kind of savings account, preferably one that accumulates interest. Most savings accounts don’t add more than three percent per year to your total savings. However, over time, that interest rate may grow. While that may not seem like much to begin with, it is still money that you did not have to work for, thus it is free money.


If you don’t like the minimal return on your investment with a savings account, you should plan to invest in various equities. Stocks are volatile, but yield the greatest returns. Bonds and Roth IRAs (Individual Retirement Arrangement) are also acceptable. However, before you plan to invest any money, you should do plenty of research. Thousands of Americans lose money because of a poor investment.

Since you are an average Joe, you may want to just choose one big company and invest your money in it. Big companies, such as Apple, Walmart and Microsoft are safe stocks, also known as “blue chip stocks.” Often times, these companies have yearly projection plans that encourage new investors to take a risk with them. If you continually put your money in a blue chip stock company, your annual return may be great.


If you are a full-time average Joe, there’s not much more that you can do to increase your monthly income, unless you picked up a second part-time job or if you did miscellaneous work on the weekends. Follow these tips to help you stay on track to increased wealth.

This post was written by

jason – who has written posts on Budget Clowns.
Father of three and married to a lovely women. Always looking for ways to save money, and invest it properly for my children's future.

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