Written by Jennifer Taylor
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Edited by Zuri Anderson
If you’re ready to increase your net worth, it’s time to strategize. Creating a custom game plan can boost both your chances of success and your wealth.
“Trying to get rich quickly is typically the fastest way to go broke,” Kevin C. Feig, certified financial planner (CFP) and founder of Walk You To Wealth. “Wealth takes time to build, and patience is the hardest part.”
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It will require sacrifice and dedication, but you can double your net worth in 2026. Keep reading to create a blueprint that supports your journey.
1. Pay Off Credit Card Debt
“The average credit card interest rate is approximately 25%, and I recently had a client who was paying 31%,” Feig said. “You will never find a better guaranteed investment than paying off credit card debt at these rates.”
This is a low-risk, high-reward path to building wealth, he said.
2. Start a Business
If you’re willing to take a high risk that could result in a high reward, consider investing in yourself by starting a business, Feig said.
“Starting a business is not for the faint of heart, but it’s certainly a path to dramatically increasing your wealth,” he said. “This is best approached with eyes wide open and without reading the countless social media posts about how easy being an entrepreneur is.”
3. Pay Bills Evenly Across Paydays
If tend to have more money left from one paycheck than another, it’s time to even the score. Spreading your expenses out evenly across paydays gives more transparency about lifestyle spending, said Bryan Byrer, owner and financial adviser at Millennial Financial Planning.
This can help you avoid overspending, leaving more money for savings, he said.
4. Automate Savings
If you’re not already automating transfers to savings accounts each payday, it’s time to do so.
“Even better if you can shift the money to an account at a different bank or credit union that’s not linked to your primary institution,” Byrer said. “Increasing friction among account transfers can keep money where it’s intended to be.”
5. Don’t Focus on Headlines
It’s not uncommon for people to get spooked by current events and allow it to impact their investing strategy. This might feel like the safest move in the short-term, but acting on impulse typically doesn’t pay off.
“When investing over the long-term, daily headlines are noise,” Byrer said. “Stay committed to consistent savings.”
6. Plan Infrequent Expenses
“A lot of people struggle to build wealth, because they have to keep draining their savings when an unexpected expense comes up,” said Samantha Mockford, CFP and associate wealth advisor at Citrine Capital.
However, she noted that many of these expenses are foreseeable, making it possible to plan ahead. For example, occasional – yet expected – annual expenses like car registration, summer vacation and holiday gifts can be factored into a monthly budget by dividing the cost by 12 and turning it into a monthly bill paid to yourself, she said.
It’s also wise to include expenses you want to be prepared for just in case – i.e., car repairs – and any spending categories that consistently catch you off-guard – i.e. teacher gifts – she said.
7. Diversify Your Investments
“The best way to gather momentum building wealth is to consistently add a little bit each month to a diversified portfolio of investments,” Mockford said. “Treat it like a regular, automated bill that is part of your budget.”
This is important, because if you only save the amount left at the end of the pay period, it will be zero, she said.
“Invest any money you don’t expect to use within two years in diversified, low-cost ETFs or mutual funds,” she said. “This is cash you’re setting aside to buy a house someday, take a sabbatical, replace a car, go on a big vacation, etc.”
She recommended meeting with a fee-only financial advisor to find the right asset allocation for you.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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