One of the surest ways to increase your net worth is to invest each month in appreciating assets. These would include longer-term purchases such as certain real estate, commodities, stocks, bonds, etc. The challenge most people have is that they are spending too much of their monthly income making payments on assets that tend to lose value such as clothes, cars, boats, motorhomes, etc.
Personal financial health and prosperity is generally a reflection of habits, not just of income. Those who develop the habit of saving first and spending less money will increase their security and reduce their stress. This often results in more happiness better marriages and overall improved mental health.
For many of us, depreciating assets are unavoidable. We need cars and would like some fun assets that lose value. I suggest establishing an overall goal that distributes household income on both types of expenses. That way both fun and financial growth can be realized.
The first step is always to create a budget. If you need help, contact my office. We would be happy to provide the resources that can help get you on the path to financial security.