5 Money Habits That Will Help You Build Serious Wealth
When building wealth and getting wealthy, our money habits profoundly affect us. They control – sometimes unconsciously, how we operate every day.
For example, our habits control when we go to bed and get up, the route we take on our commute to work, the path we follow to get to our desks, our lunchtime routine, etc. Our habits are everywhere.
Wealth is built over years of making good decisions and investing in appreciating assets for most of us. And the healthier our habits are, the easier it will be to create a process that keeps us moving forward and making money.
5 Money Habits to Build Serious Wealth
This might sound counterintuitive, but it's true: saving money doesn't build wealth. Even if we save money in an interest-bearing savings account, our cash probably isn't keeping up with inflation.
Habit #1: Invest in Appreciating Assets
Debts kill our chances of building wealth. Every time. Let's clarify one thing:
Not all debts are created equal
Habit #2: Eliminate Debts
Habit #3: Use Automation
Many employers offer 401k or IRA retirement plans. And most of those companies will
automatically make contributions straight from your paycheck
into your investment accounts.
Wealthy people are experts on their own money. They know where it comes from and where it's going every month.
Habit #4: Know Where Your Money Is Going
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