How’d I increase my net worth by $200k in about two years?
Let’s talk about it. But first— let’s get something clear. I didn’t get it from my daddy, but I did benefit from white privilege, growing up in a middle class home, and having two parents. I also had the privilege of a high paying job. We recognize privileges on this page, and I recognize that I have a lot of them.
Now.. on to how.
1. I first had to figure out where TF my money was going. I was making good money— $70k a year— and yet I was living paycheck to paycheck, Tracking and going through my spending revealed where my money was going every month and made me realize— heck, I had money! It was just going to places that didn’t bring me the most value.
2. I then made a zero-based budget which means I assigned every dollar a job. This did WONDERS for me because I’m very data driven and I like seeing how much money I spend in dating, eating out, groceries etc because it makes me feel more in control and more mindful of my spending.
3. These two things helped me RUTHLESSLY cut out what I didn’t want to spend my money on so I could then spend more on the stuff I really care about— like financial independence, travel, and having an apartment to myself.
4. I then focused on maxing out my retirement accounts! Last year was the first year that I contributed the full $19.5k and $6k to my 401k and IRA. It made a huge difference!
5. I also decided in 2020 to stop focusing so much on being debt free. Originally my goal was to pay off all my student loans and be debt free by 30, but then I realized that being debt free really wasn’t what I cared about, I cared about building wealth. And the way we build wealth is through investing.
Questions? Get your answers in my free guide (in bio).
#financialeducation #financialgrowth #moneyconversations #generationalwealth #biggerpockets #cashflow #investing101 #stockmarketmemes #stockmarkettips #passiveincome #indexfunds #debtfreedom #debtfreecommunity #studentloans #clobaremoneycoach #debtfreejourney #sidehustle #investingforus #investingfordummies #stockmarket
Ещё видео!