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There is a myth that you have to have money to make money, but thats not true.
The first and most important part of growing wealth is to change your mindset.
when you obtain the mindset, here are five game-changing steps togrow your wealth significantly.
and gradually increase it over time.
But dont just think youll set aside 10% of every paycheck.
Before you know it, your account is empty, and youre waiting for your next paycheck.
Dont fall into this trap.
Instead, automate your investing.
Set upauto transfer or direct depositfrom your bank account or paycheck to go right to your investment account.
Then, get those funds into investments before you might spend them.
Its really that simple.
If you never ask for a raise, youre doing yourself a disservice.
Its likely theres someone out there making more than you for the same job, because you didnt ask.
Lokenauth said, Dont be shy about asking for raises youre probably worth more than you think!
Pick Up a Side Gig
Youve likely heard this advice before: Get a side hustle.
Theres a reason for that, beyond just making more money.
While youre working, youre probably not spending extra money.
Plus, you may find yourself buildingskills and relationshipsthat can help you transition to a more lucrative career.
You could do anything from mowing peoples lawns on weekends to helping people with home improvements.
You could start your own blog, or you might sell products on Amazon or Etsy.
Walking dogs or tutoring can be lucrative.
And if none of those are your cup of tea, there are endless ideas.
There are definitely people out there who will.
Both will help you build your wealth.
Pay down your bad debt.
Bad debt is debt that doesnt make you any money, like credit cards with balances.
Even car loans can be considered bad debt if the interest rates are high enough.
If you cant pay off your credit card balance every month, you should not be using it.
Get out of those debts and start putting your money into assets.
This is a big part of living below your means.
You dont need fancy cars and a big house if youre not growing your wealth at the same time.
Butfew financial advisorswould advise you against investing in real estate for the purpose of making money.
This means development, rental properties, Airbnbs, etc.
You could be anentirely different, and more wealthy, personby this time next year!
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