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Why Growing Your Wealth Means More Than Simply Saving Wealth-building is not just about cutting excess spending.

By Jeff Rose

Opinions expressed by Entrepreneur contributors are their own.

Building wealth can be a difficult beast to tackle. In this video, Entrepreneur Network partner Jeff Rose discusses why saving through cutting costs is drastically different than building wealth for the long-term.

Jeff Rose recognizes that many people are living paycheck to paycheck. This can be a frustrating lifestyle, but if you truly want to break out of it, it's important to set your sights on the right strategy. Instead of continuously trying to save money, focus on boosting your bottom line when possible.

It might be difficult logistically to get started, but try to shift your mode of thinking from cutting spending to developing abundance. In order to make money, you may need to take on a second job, work more on your side hustle or ask for a raise. Whatever method will work to boost your earnings, tackle the process task by task. If you pursue one unique new step every day, you will soon be on your way to developing a higher income and begin building wealth.

Click the video to hear more.

Related: How This Football Play Can Help You Become a Better Entrepreneur

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Jeff Rose

Certified Financial Planner, Author and Blogger

Jeff Rose is an entrepreneur disguised as a certified financial planner, author and blogger.  He's best know for his blog GoodFinancialCents.com and book, Soldier of Finance: Take Charge of Your Money and Invest in Your Future.  He's also the editor of LifeInsurancebyJeff.com. He escaped a path of financial destruction from dropping out of college with over $20,000 of credit card debt to become a self-made millionaire. His mission is help future generations achieve financial freedom by developing strong money habits and unleashing their entrepreneurial spirit.   

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

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