9 Ways To Become Rich on a Low Income

Live Within Your Means

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You may think that living within your means has nothing to do with building wealth, but it’s actually a fundamental step.

Start Early

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Another secret to building a long-term nest egg is that starting early is at least as important if not even more important than earning a higher salary.

Start Small

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Even if you can’t start socking away $100 per month at age 18, contributing even the smallest amounts can help lift you toward your goals

Automate

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Even with the best intentions, it can be hard to remember to contribute consistently to your investment accounts

Make Smart Choices Regarding Your Accounts

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Although there are plenty of options for where to put your money, you’ll get even further ahead if you make smart choices.

Increase Your Income

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Even if you’re on a low-paying career path, there are steps you can take to increase your income

Trim Discretionary Expenses

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Income is only one side of the equation when it comes to building wealth

Watch Out for Lifestyle Creep

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As you advance in your career, you’re likely to enjoy a steadily increasing salary over time.

Buy a Home

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Buying a home is often thought of as an option only for the wealthy, but the truth is that the homeownership rate in the U.S. was 65.9% in the last quarter of 2022

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