Rachel Cruze’s 4 Tips To Help You Build Wealth Before 2025

If one of your 2024 goals was to start building sustainable wealth , you only have a few months left. And even though wealth isn’t usually built overnight , there’s still plenty of time to establish a strong foundation before 2025.

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To help you get started, here a few tips from Rachel Cruze , a leading personal finance expert who advises people about how to get ahead and build wealth.

Money mistakes the super wealthy never make - that you might be doing now.

Revisit Your Current Goals

Back in January, you might have set some money goals you wanted to accomplish. Maybe it was to save an extra $5,000 to purchase your first home, or it could have been to take on a side hustle and make an extra $200 each month. No matter what that goal was, take a step back and reflect on how you’re doing to reach that goal. Sometimes, planning for an entire 12 months can be difficult. Things can happen that derail your plans.

Cruze says that now is the time of the year when you can set smaller goals for yourself that can be attained more easily. For example, over the next three months, you want to find room in your budget to invest $200 each month. Doing small things like this can help you on your path to building wealth.

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Go Through Your Budget and Do a Deep Clean

As the daughter of Dave Ramsey, it’s no secret that Cruze is a big believer in budgeting. And she says now is the perfect time to review your budget and look for patterns that might have set you back this year. Maybe it was a specific category where you spent more than you should. Or it could have been a particular month where things popped up and affected how much you spent.

Understanding your spending habits and staying within your set budget is the foundation of building wealth.

Get Rid of Debt If You Have Any

One of the biggest obstacles many people face when trying to build wealth is debt. If this sounds like you, make it your mission over the next three months to start chipping away at debt. Once you’re debt-free, you’ll be able to allocate that money towards things that can build wealth, like investments or even starting a business.

Make a Goal To Save or Invest a Certain Amount

“Whether it’s contributing an extra $50 per month to retirement or maybe you want to save $1,000 by December, whatever it is, have a goal out there,” said Cruze.

While it’s easy to get caught up in the everyday cycle toward the end of the year with the holidays and other events, having goals and sticking to them is important. Doing so will allow you to reflect at the end of the year and say, “Hey, I accomplished that.”

This article originally appeared on GOBankingRates.com : Rachel Cruze’s 4 Tips To Help You Build Wealth Before 2025