Hello, and welcome to today's episode of Financial Fluency.Today I wanted to talk about the idea that revenue can solve all problems or that income solves all problems. I've heard people say this especially in terms of businesses, that when there's a problem, generate more revenue and it will take care of everything else.
In our own personal financial lives, I tend to think that the income really is only half the story and I wanted to talk about this particularly because I've talked to a few women lately who have had significant debt and who have had issues with their finances but they are counting on an event, a launch, or something where there's either a large amount of income in a short period of time or in a lump sum, that is going to wipe all the debt out and take care of everything. And because of their expectation of this they don't want to put a plan in place in the meantime to start working on the debt.
So, I wanted to do this episode to talk about the idea that while yes, increasing your income can help in a lot of ways, I have talked to a number of high-earning women who still have a lot of these same problems,because something that happens both in companies and in our own lives is often as you increase your income you also increase your expenses and depending whatline of work you are in, those expenses can get really high.