This list is in order or priority. If you don’t produce income, you can’t save it and if you can’t save it, you can’t invest it.
I feel that we too often skip to in the investing part, trying to learn the best way to generate the best income with a relatively small amount of income on a relatively low income.
Investing is romanticised, saving is underrated and increasing income is simply the most valuable thing you can do for you investing career.
This assumes aiming for comfort and beyond financially. Yes, some levels of wealth can be made with small incomes and great saving habits but increasing personal income is the most efficient way to go to the next level.
There are a couple of ways to go about it, earning a promotion within a company or finding a new, higher paying job. The more effective and controllable way is through a business you own. It’s also the more stressful of the two. The scary part is, all the risk is on you, the exciting part is all the risk is on you, you’re in full control of how well it does and how much you make. Depending on your goals and risk appetite you could go into business with someone else, it could be a side hustle you work on after you finish your day job or you could dive in headfirst. How you go about it is up to you. Every dollar counts and becomes very exciting once you’re able to save it, invest it and realise how much it will make for you over the life of your investing career.
Read Next: Ultimate Guide to Saving
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