Increasing Wealth the Old Fashioned Way

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 nonfinancial 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.

Source: CFE inTOUCH, March 1998

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