How do you build private wealth?
Private wealth doesn't appear out of mid air and you don't need a high-earning job to be wealthy. Of course, the secret is to save but if only it were that easy. From kids to adults, we're educated about the importance of saving money but not taught how to do it. The first step is to get a hold of your finances, you must have full control and know where your money is coming from and where it's going. If you're a busy person who checks their bank account maybe just once a month, this blog post is for you.
Organise your expenses. Do you know what your annual vehicle expenses are? Food spending? Utilities? Or how much do you spend on your pet? Group them into simple categories and set this up to be tracked from today onwards. Without tracking your spending, you cannot start to grow personal wealth. This will give you an understanding of where your money goes and allow you to plan for the future.
This is where personal wealth professionals will advise you and walk you through how to track but also how to manage your money from that point onwards. The first step is setting up that tracking system. Don't put it off, start tracking your money today. Your future self will thank you.