This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
No matter what age you are, here are steps you can take today
1. Cut 1–5 expenses
Each month, I review my expenses and ask myself, “Do I really need this?” I also check my transactions and ensure I don’t have idle subscriptions coming out.
How often do we sign up for free trials and forget to cancel them if we don’t like or need the product? Often – if you’re not careful.
2. Behind on retirement? Find something aggressive.
As Ben Le Fort recommends, you should start seeking more risk-averse investments as you inch up the age bracket.
I have one caveat, though: if you can afford to lose, say $100 a month, invest it in something aggressive so that you can increase your rewards in a shorter amount of time.
3. Eat out less or altogether
For the past two months, I have been in the middle of a discipline exercise (i.e., no eating out and no sweets). Consequently, I’ve saved hundreds of dollars from not eating out. I will eat out again, but I desired to do something out of the ordinary for myself.
Side Note: My partner found a delicious dish to cook and made it for valentines day. It’s one of my favorite dishes now, and it tastes just as good (probably better) than a restaurant’s version. Eating in can take more time for meal prep, but if you’re a foodie, you can explore some scrumptious recipes that will entice you to eat at home more often.
4. Stop going shopping
This includes Amazon and online retail apps. These “shopping trips” add the heck up – especially if you can’t afford it. I know it feels good to buy new stuff but walk away if it doesn’t fit your budget.
5. Stop financially supporting people who need to support themselves
We all know at least one person who asks others for money more frequently than they probably should. Some of us give in more easily than others. If you’re starting to compromise your financial well-being for another who could care less about their financial well-being, set a boundary, or you’ll end up going broke.
Financially enabling others not to be independent is a pandemic of its own. The best way to help people financially is to give them the space to help themselves.
6. Ensure the money coming in is more than the money going out
This is the most straightforward way to build wealth. If you’re spending less than you earn every single month, you’re going to build a nice nest egg.
Easier said than done because ample temptations are waiting to take our money daily, but if you implement self-discipline, it’s easy.
7. Read or listen to a book, article, or podcast on personal finance
There’s no way around self-education. You got to do it to elevate yourself. If you don’t like the topic but are floundering with your money, look for authors and educators that make the topic go down like your favorite milkshake or smoothie.
The more you educate yourself on finance, the more financial power you gain.
Currently, I’m studying four unique areas of finance:
Taxes
Crypto
Investing
Rental investing
Typically, I complete my reading all at once (sometime during the morning or day) in digestible bite-sized pieces.
8. Find at least one person or group more intelligent than you in finance
Maybe it’s someone you don’t know, an author or educator, but eventually, go a bit further and find a group or individual who can be like a mentor (even if they don’t know it) and someone who can give your finances a facelift.
Knowledge is power, and one of the most convenient ways to acquire it is through relationships.
9. Find a way to increase your income
If you slash your expenses, you don’t necessarily need to increase your income. But why not give yourself a double raise.
One of these options might work for you, depending on where you’re at in life:
Investing
Side hustle
Real estate
Promotion
Part-time job
Salary increase
Royalties (creator work)
10. Implement a budget
How will you ever catch up to your finances if you don’t keep track of what’s coming in and what’s going out? You won’t, and your finances will always be handling you.
You need to handle your finances, not the other way around.
Create a budget, and stick to it. If you don’t like manually managing your budget, use a budget app that imports all of your transactions for you.
The sooner you start tracking your money, the sooner you’ll experience enlightenment into your finances, so you can make the necessary changes needed to reach your financial objectives.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.