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Getting rich is the goal of many Americans.
In a recent YouTubevideo, Yang broke downmiddle-class habits that keep people stuck in place.
Yang pointed out that the IRS has stated the average millionaire has seven sources of income.
On top of these positives, youll also have more money coming in.
Keeping track of your finances will help you realize your spending patterns at the very least.
Lifestyle inflation is the phenomenon where your spending on nonessential items rises along with your income.
When you spend more because you make more, you essentially remain at the same level financially.
Tracking your finances lets you notice how your spending has changed over time and keep it under control.
Other generations, such as millennials and baby boomers, have an average of over $6,000.
According to Yang, using debt to make purchases to appear rich is a terrible idea.
Having a balance on your credit card for a long period adds up quickly.
No matter your age, you might always start saving and investing for retirement.
However, the most important thing is to start.
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