Interesting ways to build wealth

In this day and age, even with the current economic situation, it is still very possible to build wealth. The knowledge of some of the best ways to build wealth can go a long way in helping you to successfully increase your net-worth and elevate your financial status.

1. Consider Your Vehicle
   One of the worst things a car buyer can do is to buy a car without doing some research first. It is extremely important for a car buyer not to rush into the process and get as much information as he/she can on the vehicle reliability, pricing and financing of the vehicle he/she intends to buy. This is mainly because there are many people currently spending a significant portion of their income and savings on car expenses and it's almost like their vehicles are vacuums that suck up all their money. Various car payments can be normal but this ‘normal’ will definitely not help you build wealth in the long run, and it is best to do proper research before purchasing a vehicle so you don’t end up with a vehicle that constantly devastates your bank account.
   2.Be Wary of ‘Little’ Expenses
   The thing about little expenses is that they quickly add up into shockingly large expenses, so unless you need something, you really have no business buying it. Avoid buying crap that is not only useless, but eventually becomes a regretful waste of your money. Every ‘little’ expenses should pass the ‘is it useful?’ test, and if it doesn’t pass the test, then please save the money and be on your way to building wealth.
2. Save a Percentage of Your Income
   There is no magical way to build wealth, it takes time that’s why it’s called ‘build’ wealth not ‘conjure’ wealth, and saving remains one of the best ways to build wealth. Yes people are fond of saying that it’s difficult to have a saving culture in our society because we simply don’t earn enough, but that really isn’t true. Consider Fridays and how much money is wasted by most of us in the name of ‘boys night out’ or ‘girls night out’; if a person decides to take N5000 or even N3000 out of that entertainment money and put in a saving account for a year, he/she would have saved at least N60,000 or N36,000. Though the money might be small, it is something, and if the person continues that way for half a decade, it would have increased to something very reasonable, alongside the interest that will be received on it. If the person is interested in building his/her money further, he/she can invest some in real estate or can decide to buy shares and let that money continue to multiply in these ventures. There are still other legal investments to consider that can be very good for you in helping to build wealth, you just need to do some research to find out about them