Are you tired of where you are financially? Do you see others getting ahead and all you are doing is staying in the same place? Or worse, are your finances getting worse as time goes on? You might be wondering what others are doing so you too can grow your wealth.
Well I am here to tell you the secrets others are using to grow their wealth. And the best part of this is that these secrets are simple for you to start using! If you can follow just a couple of these secrets, you will see your wealth skyrocket and your financial situation improve quickly.
Let’s look at these 15 secrets to grow your wealth fast!
15 Incredible Secrets To Grow Your Wealth
#1. Save First
This point is number one for a reason. It’s because it works and it is so simple to do. If you are like many others struggling financially, you are probably trying to save whatever is left over at the end of the month.
The problem with this is that we easily find things to buy. Come the end of the month, there is nothing to save. By saving before you spend, you guarantee you save money each and every month.
What are the easiest ways to do this?
- Split your paycheck. Most employers allow you to split your paycheck between accounts if you have yours direct deposited. So fill out the form and have $20 from each paycheck go directly to your savings account.
- Invest in your 401k. While the money won’t go towards a savings account, it will go towards your retirement. Again, you fill out the form and relax as money is invested for you automatically.
- Set up a transfer yourself. If you can’t split your paycheck, set up an automatic transfer yourself. Just log on to your bank and set up a transfer to happen once a month. Pick a dollar amount and watch as your savings grow.
It is absolutely critical that you get into the habit of saving money first. Don’t worry about the amount. Just make it a habit and you can increase the amount you automatically save in time.
#2. Track Your Net Worth
This tip to grow your wealth is one of my favorites. I track my net worth each month and doing so has helped me to grow my wealth dramatically. By calculating my net worth, it motivates me to grow it each month.
How do you grow your net worth every month? You pay off debt, save more money and stop spending money. Any combination of these will have your net worth grow. And as it grows, you will get motivated to grow it more and more.
The benefit to you when you increase your net worth is having more money and more freedom in life. How do you get started calculating your net worth? You can read this post I wrote to see how to do it yourself.
If you want to take a more automated approach, you can use Personal Capital. It’s a free service that will update your net worth automatically right up to the minute. I use it and can’t get enough of it.