Your net worth and money management is definitely a two-way street though. There's the money you spend going out and the money you earn or passive income streams coming in. If the outflow, spending, is bigger you drain your savings or go into debt. If the inflow is bigger you have money to save and invest. So really, to maximize your financial situation you want to minimize spending and maximize income.
So once your spending is under control, your expenses are stable and sustainable and you're not adding to your debt, then you can start looking at increasing your income. Extra income can give you a huge boost in flexibility in your budget and your savings and the sky's the limit on how much extra you can earn. But, the comparison between increased income and cut expenses isn't dollar for dollar because taxes take a huge bite out of the money coming in. So a dollar in cut expenses might actually have the same effect on your budget as $1.50 in extra income if you pay about 33% in taxes.