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Increase Your Income
Formal education, practical experience in your field and doing a good job is important to earn a high income.
Most professionals see their incomes increase over time. If you can gain high earnings at an early stage, you’re likely to make even more later on.
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Save and Invest
You’ll only build wealth if you save a reasonable percentage of those earnings.
- If your employer offers a 401(k) plan, increase your contribution.
- Automatically send a portion of your money to your savings or investment accounts before you can spend it.
- Purchase a home instead of renting. You'll get your house payments back in the form of equity.
- Pay off anything you owe to avoid paying interest.
- Maximize the interest earned on your savings.
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Cut Wasteful Spending
Periodically evaluate your spending and look for sources of savings.
- Invest in more sustainable technology for your home. For instance, if you watch cable, buy only the channels you are watching.
- Improve the insulation of your home to reduce the amount you are spending on electricity and gas.
- Consider buying in bulk.
203
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CURATED BY
"There's no money in poetry, but then there's no poetry in money, either." ~ Robert Graves
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