6 Ways To Build Wealth When You’re Lower Middle Class

Building wealth is not easy, especially when you feel like the odds are stacked against you. But it’s definitely possible; here are six actionable tips to help you build wealth, even if your paycheck would have you thinking otherwise.

Budget, Budget, Budget

First thing first: if you don’t have a budget, it’s time to create one. Without a budget, you’re just wandering aimlessly through life, swiping cards with reckless abandon and hoping for the best. It doesn’t matter how much you make—that’s never going to be a way to build wealth. The best budgeters always allocate money to both savings and fun; you don’t have to live like a hermit to adhere to a budget, but you do have to know where it’s going and be responsible for how you spend it.

Embrace Your Frugal Side

Frugality isn’t about being cheap; it’s about being smart. And while extreme couponing or haggling might not be your future, it’s no longer that hard to be a savvy shopper. Start small and flex your frugality by shopping during sales or buying something second-hand. You’ll be surprised how much you save—and how much you won’t miss paying full price for something.

Read More: 30+ Best Frugal Living Tips To Help You Save Money Now

Invest in Yourself

Don’t forget that your greatest asset is you. Investing in yourself can yield the highest returns. This doesn’t mean you need to enroll in a pricey MBA program (unless you really want to). Instead, focus on skills that can help you earn more or save money in the long run. The more skills you acquire, the more you can boost your income potential. But more importantly, the more equipped you’ll be to handle anything life throws your way.

Start an Emergency Fund

Speaking of handling things life throws at you, build your emergency fund. Today. Aim to save at least three to six month’s worth of living expenses. Yes, that seems like a lot, and for many people it’ll feel unattainable. But every little bit helps, so set aside a little every month until you reach your goal and don’t touch it! Unless, of course, there’s an actual emergency—then you’ll be thankful you have it.

Read More: Everything You Need To Know About Emergency Funds

Check Out Side Hustles

If you’re looking to boost your income further, side hustles are often called the secret sauce to financial growth, particularly if you have a desirable skill set. Whether you’re dog-sitting, freelancing, or selling homemade crafts, there’s a side gig out there for everyone—even if your only skill is binge-watching Netflix (which, believe it or not, there are jobs for that too). Just remember to keep it balanced to avoid burnout. Set aside specific hours for your side hustle, and make sure you can afford to put the energy into it before you commit to anything.

Read More: 30 Side Hustle Ideas To Diversify Your Income 

Try Your Hand at Investing (Wisely)

Investing might sound intimidating, especially if your financial knowledge is limited to knowing how to count change. But investing is crucial for building wealth, and it doesn’t have to be complicated. There are many platforms that make investing simple. And while it’s not always the best use of your money depending on your situation, starting with a small amount of money can help you get into the long game without feeling like you’ve lost it all.

Read More:

• 30 Ways To Get Free Stuff (That Aren’t Scams) 
• 12 Best Coupon Apps To Try Now
• 13 Ways To Earn Money From Paid Surveys [At Home, Online & More]