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In it, she explained how the middle class can break free of cycles that keep them from buildingwealth.
Here are the top habits Nischa said arekeeping the middle class from prospering.
She added that you’re able to earn more when you move betweenorganizations and change jobs.
Unfortunately, owning too expensive houses and cars can lead to significant financial strain.
This happens, Nischa said, because younger earners believe they have plenty of time.
However, the earlier people start investing, the more compound interest can work in their favor.
Many people have tax-advantaged accounts with employer matches for 401(k) plans.
Automatically investing in a retirement plan from theearliest working dayscan help people reach financial independence earlier.
Many middle-class people spend money and go into debt.
High-interest debt, likecredit card debt, can prevent people from building wealth.
Reducing unnecessary spending and allocating extra money to investments is a better way to escape the rat race.
If you havent learned financial literacy in school or at home, now is the time to educate yourself.
There arecountless videos and articlesthat can teach you how to budget, invest and pay off your debt.
She said its easy for the middle class to get caught up in spending money to fit in.
However, that can keep you in a never-ending cycle.
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