Wanna be rich someday? Unless you plan on winning the lottery, it’s kinda tough. But it’s not really that complicated.
A YouTuber named Jaspreet Singh hands out financial advice on social media. And he’s going viral for his VERY simple, three-step strategy for getting rich.
Step One: Spend less than you make. Easier said than done, especially with half of Americans living paycheck to paycheck. But buying stuff you don’t NEED is the #1 thing that prevents people from accumulating wealth.
Step Two: Work to earn more money. In other words, don’t get comfortable. You can only cut your budget so much. Eventually, you’ll also need to earn more. So that means asking for a raise, finding a better job, or adding a side-hustle.
Step Three: Invest what you don’t spend. Most people don’t get rich by just saving every penny they earn. They also make their money work FOR them.
That might mean putting more in your 401k, or investing in stocks, rental properties, a new business, or even your own education. The key is to just start the three-step process now, and stick with it long term. (Fortune)