GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you could read more about oureditorial guidelinesand our products and servicesreview methodology.
20 YearsHelping You Live Richer
Reviewedby Experts
Trusted byMillions of Readers
You cant build wealth overnight.
According to asurvey by Ramsey Solutions, most millionaires are made, not born.
In fact, about 80% of millionaires came from families at or below middle-income level.
The majority also dont have high-level, high-salary jobs.
Instead, they earn their money through long-term investing and stick to spending and saving plans.
Here are five easy ways millennials canstart building wealth in 2025.
There are several types of budgets zero-based budget, 50/30/20 rule, reverse budgeting, etc.
andsimple budgeting appsto help you keep track of your money and your budgeting goals.
Save More and Spend Less
The goal is to save more money than you spend.
Pay Off Debt
Your wealth is all about your net worth.
Debt is a liability.
When you take out debt, youre reducing your net worth.
Prioritize paying off debt, such as credit cards, car loans and student loans.
Build an Emergency Fund
Put part of your savings into a separate account solely for emergency situations.
Personal finance guruDave Ramseysuggests three to six months of expenses in a fully funded emergency fund.
More From GOBankingRates
Share This Article:
