“Being wealthy” is really about having financial freedom. Handled the right way, wealth can grow itself. But making bad financial decisions can get you into debt, which destroys your chances of wealth.
"How do I get wealthy?" Well, that depends on how you define being wealthy. On the one hand, there's looking wealthy, and on the other, there's being financially free.
The first step to financial freedom is to spend less than you get paid. But that can be a lot harder than it sounds without a good budget.
Setting up a budget is a crucial first step in getting control of your finances, because it shows you how much you earn, how much you’re spending and lets you plan a path to reducing your debts and increasing your savings.
Giving up your morning latté seems like a drag right now, but knowing exactly why you’re doing it will cheer you up and keep you focused.
Not all assets are created equal. Some make you wealthier. And others make you look wealthy but really make you poorer over time.
You’re keen to get hold of those sweet, sweet money-making assets, but you’re flat broke. Good news: the answer is closer than you think.