Building Wealth: 7 Financial Habits to Make You Rich
Money concerns can be a major source of stress for people who are living paycheck to paycheck. There’s always another expense or bill that needs to be paid, leaving you to feel as though you never have any savings. Wouldn’t it be nice to just say goodbye to those money worries? You can. In fact, there are simple things you can do to ensure you’re building wealth. It doesn’t take inheriting a large chunk of money or landing a super high paying job (although that would be nice) to do it. It all comes down to your money habits — how you choose to spend and save could be the difference between living large or just getting by.
1. Set big goals for yourself
Determine an amount to work toward having in your savings. You need to have a goal in mind in order to achieve it, and when it comes to building wealth, you need to think big, according to Money Crashers. Commit to saving $100,000 (or more) over the next five years. You could also set goals that get you on the fast track to paying stuff off. Think of goals such as paying off your mortgage in a short time, or saving enough to be able to pay for all of your purchases in cash. Whatever it is, make sure it will have a significant impact on your finances.