Here’s a list of snackable solutions to increase your net worth. It boils down to three things:
Keep in mind, this is not financial advice and you should speak with a professional about any major financial decisions.
Reduce Debt and Liabilities
- Take inventory of your liabilities
- Eliminate unnecessary monthly expenses
- Create a weekly and monthly budget
- Pay off high-interest debt
- Renegotiate, refinance, and consolidate loans
- Don’t buy a new car until necessary
- Pay Off Credit Card Debt
- Pay Off Student Loans
- Pay off your mortgage
- Eat more meals at home
- Live Below Your Means
Increase Investments & Appreciating Assets
- Take inventory of your investments & assets
- Maximize your retirement contributions (IRA, 401k, etc)
- Create an emergency fund
- Contribute to a savings account
- Buy a home
- Invest in stocks, bonds, crypto, currencies, gold, silver, or other resources
- Buy appreciating assets like fine art, antiques, collectibles and land
- Buy a tax-deferred, permanent life insurance policy (whole life, universal life or variable life)
Increase Income
- Ask for a raise
- Get Extra Money from Freelancing
- Start a business
- Invest in rental properties
- Learn new skills
- Acquire certifications or a college degree
- Hire a virtual assistant and use the freed up time for income producing activities
- Be healthier and reduce illnesses
I work at Consorte Marketing as a fulltime content strategist, digital marketing and operations consultant for a handful of clients. I am also a digital marketing expert at Digital.com. I often build teams to execute on these strategies, and agile frameworks for workflows, inspired by Scrum. I work to improve my leadership and communication skills, including periodically re-centering myself, and helping others to find purpose in their work. Dennis Consorte
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