Your income is also influenced by how well you market yourself. Your employer wants to pay as little as possible for your work while your goal is to be paid what you're worth. To bridge the gap, a smart person will negotiate his salary.

• Delay salary discussions until after you're offered a job. The same with raises. Discuss a pay increase after your performance review.
• Always let the employer suggest a salary first.
• When you hear the offer, repeat the top value, then stop talking.
• Counter the offer with a researched response. It means you have done your homework before the interview and know a reasonable salary for the position.
• After you've discussed your salary, negotiate additional benefits like extra vacation days or a company car.

While frugality is undoubtedly important in personal finance, boosting your savings can also be done by earning more money.

Whether you're self-employed or working for somebody else, your income is determined by three factors.

• Your knowledge and skills.
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