Many people often feel a lot of fear or intimidation when it comes to managing money, and if you fall in that category, it’s time to start investing in yourself.
2. Invest in appreciable assets
Mindlessly spending money and not considering whether what you are buying will make money for you in the future or not will erode your wealth. Wealthy people understand that you need to invest your money in appreciable assets such as property or stocks, not vacations and cars - excessive spending on items that add nothing to your investment portfolio chips away at your wealth.
The bottom line is that good money management is key to creating wealth. It’s not how much money you make that dictates your wealth; it is your net worth that does. Making smart financial decisions will increase the value of your investment portfolio and your net worth.
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