How to Build Wealth

[Audio] Building wealth. . . I-LEAL T H. Building wealth.

[Audio] How to start building wealth The first step is to Budget and stay disciplined • This part is very crucial because you want to minimize unnecessary purchases • When budgeting you want to make sure that all your basic needs and living expenses are taken care of • If you are smart with your money and budget for so long your savings should begin to pile up.

[Audio] Open a savings account • After you create your budget you want to open a savings account • Use bank account bonuses to jumpstart your savings • You want to save as much as you can and save unexpected income • Discipline yourself to stay on your budget • Set a saving goal and keep saving even after you reach your saving goal.

[Audio] Have an emergency fund and pay off debt - As you continue to budget and save more money and you can start paying off your debt little by little What is an Emergency Fund An emergency fund is a cash reserve that's specifically set aside for unplanned expenses or financial emergencies. Some common examples include car repairs, home repairs, medical bills, or a loss of income..

[Audio] Invest and grow your money - If you have been following your budget and saving properly then you will be able to invest and grow your money even larger - When investing you put your money into something and expecting it to grow larger over time to be able to profit from in the future Things you could invest in • Growth investments • Shares • Property • Defensive investments • Stocks You can also sell products and start your own business to make money.

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