Being wealthy comes with a bunch of benefits, including having the option to see friends, family and going on holidays and experience more of the world. This can all be achieved by following some very simple rules/tips.
The first tip is to live below your means, in pretty simple terms spend less than you earn. This means you will constantly start building up your savings month after month. Try and avoid eating out too much, make food at home instead. Don’t get a fancy car on finance, but a cheaper reliable car instead. Always shop around before making a purchase, even if it’s for smaller things like clothes.
Get a second income or side hustle! This one is also really important and you can start small, try investing a small amount into stocks, crypto, or private equity. We have plenty of posts on this site about how to get started. If you have a lot of spare time maybe get a second part-time job.
Make money from your hobbies, try and monetize something you enjoy doing. For example, a social media page relating to your hobby could be a great way to get more money. Other people may be just as interested in it as you!
Think long-term, becoming wealthy does not happen overnight and can take a long time to get there. surround yourself with people who also have the drive to do well in life and support your goals.
Avoid debt! This one is really important, where ever possible try to avoid getting into any form of debt (apart from a mortgage). Do not get a credit card unless you afford to pay it off at the end of every month. Debt leads to more debt and can be tough to get out of.
Last one is staying positive, the last two years have been pretty tough for a lot of people, try and make the most and take advantage of the situtation you are in.