So every one is telling you to save more money this year. Well, let's take a closer look into where or how to people keep making money. In what areas do people keep making money from?
While checking out the markets and everything. We have came to noticed three major areas that just kept popping up everywhere we looked. These were the 3 biggest assests we saw:
401(k) retirement plan
stocks, investments, bonds, cd, ETF's and etc
house, real estate, home renting, end etc
So here are some thoughts from this. We have learned that buying assets not liabilities will increase your net worth. With all this said and done. Here are some examples that we would suggest that could help you out.
For your 401(k) - Maybe try paying yourself alittle extra each month, maybe just put in a few extra % each month. If you can not handle it for a the whole year. How about trying it for just a few months out the year to increase your 401(k) retirement plan.
Stocks - Try putting in an extra 5% for 3 months, and invest an extra 5% for a month and then drop everything back to normal.
House - If you own your home, then concentrate more on other investments. If your still paying off your house, try paying one extra principal payment a month. Or just doing one extra mortgage payment a year could do your net worth wonders!