InvestingPersonal Finance

Steps To Building Wealth

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Building financial wealth is something we all think about but rarely take the time to create a plan. Here are four simple steps to help you create your own plan. Start taking action today!

Steps to Wealth1.Determine your Financial Goals

The first step to gaining financial wealth is to take the time to wright down all of your short-term and long-term financial goals. After you’ve wrote down your goals prioritize them. Take the time to read them every day so that they’re embedded in your mind.

2.Create a Budget

In order to become financially independent you need to look at where you are now financially and what you need to do to reach your financial goals. Start making a list of what you spend your money on daily for a month. This will give you a clear sense of what you’re spending your money on and where you can cut back. You’ll be surprised to find out how fast small everyday purchases like a cup of coffee adds up in the long-run.

3.Cut Spending

After you created your budget and journalized your daily spending habits now it’s time to decide where you can cut back. Maybe instead of buying that daily cup of coffee brew your own at home.

4.Invest in Yourself

It’s a well-known fact that individuals who continue to update existing skills and learn new skills earn more raises and receive higher pay throughout their career.

Author: Tyler DeBroux

Tyler started Oddball Wealth towards the end of 2014 after graduating college, as a way to stay relevant in his area of study, stimulate his mind, and to educate and help others.

Tyler has worked in the financial services industry, as a financial advisor, helping his clients make wise financial decisions and personalized long-term financial plans. Since graduating college in December of 2014, Tyler has paid off more than $15,000 in student loan debt and counting, his goal is to have all his student loans paid in full by the in of 2016.

Tyler is an entrepreneur and an expert in personal finance. Two of his many hobbies include investing and building online businesses. He is also a big advocate of early retirement and an aggressive saver, who utilizes any financial resources and tools available to him to help reach his goals for achieving financial independents.

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