Get All Access for $5/mo

The Key to Achieving a Comfortable Lifestyle and Saving More Money If you're trying to make extra money and cover basic needs, consider one of these tips.

By Brian Tracy

Opinions expressed by Entrepreneur contributors are their own.

In this video, Entrepreneur Network partner Brian Tracy explains a few ways to take care of your family with money.

Tracy offers a few tips on how to increase your family's income, so you may properly cover the expenses of clothing, housing, schooling, entertainment and your own retirement savings. If you are able to properly anticipate these costs, you can improve your quality of life.

Some of these tips include starting a side business. At times, one stream of income is not enough to meet all basic needs -- you may need another source of self-generated income to help cover basics and cover other expenses.

Other money-making tips include investing in real estate. If you are trying to make a profit, you should look at property that will increase in value over time and thus, translate to a more likely source of money.

Finally, invest in the stock market. Though it can be important to remember with the stock market, it may have the potential to be lucrative but it does not go without its risks. If you attempt to move too quickly or make rash decisions, you may lose more money than you are able to make.

Click the video to hear more.

Related: 6 Tips to Stay Focused While Giving a Presentation

Entrepreneur Network is a premium video network providing entertainment, education and inspiration from successful entrepreneurs and thought leaders. We provide expertise and opportunities to accelerate brand growth and effectively monetize video and audio content distributed across all digital platforms for the business genre.

EN is partnered with hundreds of top YouTube channels in the business vertical. Watch video from our network partners on demand on Roku, Apple TV and the Entrepreneur App available on iOS and Android devices.

Brian Tracy

Chairman and CEO of Brian Tracy International, Speaker and Author

Brian Tracy is chairman and CEO of Brian Tracy International. He is the leading coach on the topics of leadership, self-esteem, goals and success psychology. Learn more at BrianTracy.com

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Leadership

7 Telltale Signs of a Weak Leader

Whether a bully or a people pleaser who can't tell hard truths, poor leadership takes many forms.

Franchise 500 Annual Ranking

50 Franchise CMOs Who Are Changing the Game

Get to know the industry's most influential marketing power players.

Thought Leaders

6 Tips From a Clean Beauty Entrepreneur

Sarah Biggers went from a newbie in the natural beauty space to a pro in just a few years. Here are six things she wishes she'd known at the beginning.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Marketing

5 Critical Mistakes to Avoid When Giving a Presentation

Are you tired of enduring dull presentations? Over the years, I have compiled a list of common presentation mistakes and how to avoid them. Here are my top five tips.

Science & Technology

5 Rule-Bending AI Hacks to Make Your Mornings More Productive and Profitable

By 2025, AI will transform productivity by streamlining workflows and cutting costs. Major companies like Microsoft, Google, and OpenAI are leading the way, advancing AI into "Phase 3," where tools act as digital assistants. Discover 5 AI hacks to boost efficiency and redefine your daily routine.