6 Ways I Built My 100K Net Worth Before 25
- Reduce overhead — Yes move home.
Almost 2 years of living back with my parents, this has become one of the smartest strategy for anyone wanting to build a $20k-30K financial cushion. Lets be real, the typical college student will make $40K-50K coming out of college. After taxes that’s about 35K — 40K leftover. For me, Seattle rent is already around 1K with utilities so your first year living at home, you can expect to save 12K minimum or 24K after 2 years. Not only that but given the state of the economy with COVID, it might be the smartest choice you’ll make since jobs are even harder to find and some companies can start laying off employees. Living at home might not be the most viable opportunity for everyone but it can sure help you pay off that debt or finance that first car.
2. Ask for that Raise
Look, if you are a hard worker, you do your job and you exceed the expectations you were first brought on to do, you need to initiate that conversation for a raise. Don't shy away! A simple way I navigated the first time I asked for a raise was to have a quick performance review with my manager. I listed everything that I have accomplished in my current role thus far and my desire to move forward to get a raise for my impactful work. I volunteered for special projects or additional work for my free time cause I had more capacity to do more. Fast…
