facebookMonthly Income: $3.1k from FT job, $600-$1.2k from PT job. Saves about $1.5-$1.8k a month. Personal Goal: save $100k by 29 yrs old. What should i do to speed up the process to reach my goal? - Seedly

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Anonymous

23 Sep 2020

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SeedlyAMA

Monthly Income: $3.1k from FT job, $600-$1.2k from PT job. Saves about $1.5-$1.8k a month. Personal Goal: save $100k by 29 yrs old. What should i do to speed up the process to reach my goal?

AMA The Woke Salaryman

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The most effective ways to reach your goal early are to increase income and decrease spending. For increasing income, it may be harder during this period (depends on industry) to ask for a promotion or a pay rise but not entirely impossible. You can also evaluate your spending habits and to see which areas can be further cut down.

Besides these two ways, you can also make full use of your current cash. You can put them in high-interest savings account and invest a portion for wealth accumulation to reach your goal earlier.

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