8 Smart Strategies for Building Wealth

Don’t overspend.

The simplest and surest path to wealth is to save money and invest it. It’s like planting an acorn and watching it sprout into a tree. The problem for millions of Americans is acquiring an acorn to plant.

A 2018 Federal Reserve report found that four in 10 adults would not be able to cover an unexpected $400 expense much less an emergency fund. The U.S. Bureau of Labor Statistics put it at 6%, the lowest level since the 2008 financial crisis.

If you barely make enough money to pay your bills and can’t save, the obvious solution is to make more money. That leads us to the next poverty habit.