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I want to increase my wealth. Any suggestions?

Increasing your wealth over the next few years is not as difficult as it may seem. All it requires are a few simple strategies and a little determination on your part. To help improve your financial situation, you might want to try these tactics:

  • Make a commitment to pay off the balances on your credit cards;
  • Pay yourself first by arranging to save 5 percent of your gross income each pay period;
  • Refinance your old mortgage;
  • Maximize your contributions to your 401(k) plan;
  • Remember your Individual Retirement Account;
  • Get rid of financial and non-financial assets that no longer fit with your goals;
  • And never forget: money is not the only way to be rich. The greatest wealth of all comes from your relationships with family and friends!

For some cost-cutting ideas, see Small Amounts Add Up.


Source: CFE inTOUCH March 1998



Written by:
Sandra McKinnon, Consumer & Family Economics Specialist, University of Missouri Extension

Cynthia E. Crawford, Ph.D., Consumer & Family Economics Specialist, University of Missouri Extension











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