Here are 3 steps you can do to start building wealth:
1. Set financial goals
Picture where you would like to be in life, five or 10 years into the future. Maybe you would like to move to a new location, retire early, get out of debt, stay home with the kids, open a business, buy a house, or take a long trip.
The idea here is that money isn’t the end goal. It’s only a means to help you reach your other goals. So, use your future dreams and plans to make your savings habit become more meaningful today. Even if you don’t have a specific goal now, either way you’re saving for freedom and flexibility in the future…
2. Keep track of your finances
Know how much of your money is coming in and how much of your money is flowing out. Use a spreadsheet, online software, or simply paper and pen… but start doing it now. You can use our budget planner to get started! Bring more awareness to your spending to create a clear roadmap to reaching your goals. Then, take a moment before those impulse purchases. The more you think about what’s really needed and what’s not… the quicker your savings stacks up.
If you do have existing debt, it would also be wise to understand the differences between bad and good debt, or consider things like refinancing or debt consolidation to make your money go a long way!
3. Invest in your future
Once you’ve reached a certain level of savings, think about investing that money for yourself – and your future. With investing, the sooner you’re able to start, the better. But first, get professional advice, weigh up your returns, your risks, and how much you’ll need to get started. Just start with any amount, and make it consistent. And wait…
At Rise High, we’re here to help you achieve your financial goals and strengthen your finances, so you can live the life of your dreams and achieve financial freedom.
We would love to hear about your goals and dreams! So call us today on (08) 7131 1149 and let us help you turn these goals and dreams into reality or leave your details below for our team to get in touch!