HOW TO INCREASE NET WORTH: 5 SIMPLE STRATEGIES.

Many people are interested in net worth. In fact, some people are even googling what my net worth is!

So what are the keys to increasing your net worth?

1.Live below your means

Net worth isn’t the same as having a big salary. As per Dr Thomas Stanley’s fantastic research, most wealthy people don’t overspend.

If you want to lose weight, it is 70% or 80% dependent on diet, and only about 20% exercise. Likewise, if you want to get wealthy, it is 80% your spending habits that count, and 20% dependent on your income.

2. Avoid Parkinson’s law.

What is Parkinson’s Law? It is the saying that “work expands so as to fill the time available for its completion”.

We all knew the person at university who could complete a great essay, with the help of coffee no doubt, just a few hours before the deadline.

In money, Parkinson’s law states that the more money you earn = the more you will spend. So “expenditure will expand to meet income”.

To carry on reading please click here

--

--

--

Owner at adamfayed.com.

Love podcasts or audiobooks? Learn on the go with our new app.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Adam Fayed

Adam Fayed

Owner at adamfayed.com.

More from Medium

More Inflation Fears. Another Day in the Market. Week 15 Update.

Create alerts for news and stocks ready to break out with RuByfi Mobile

New to index funds? Here are 5 rookie mistakes to avoid.

Behind The Street — Issue #12