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Habits

If You Want to Break Out of the Middle Class, Avoid These Money Habits

The ease of falling into these unproductive money traps is dangerously high.
VIP Contributor
2 min read
Opinions expressed by Entrepreneur contributors are their own.

In this video, Entrepreneur Network partner Phil Town discusses how people in the middle class often have only $1,000 in savings and piles of debt. 

So, if your goal is to break out of the middle class and retire comfortably, here are a few habits -- or "traps" -- you should avoid:

  1. Having no emergency funds.
  2. Not investing enough.
  3. Having no trust in the stock market (putting away money in a 401K is just the start)
  4. Not thinking long-term.

Town recommends only buying things when it is absolutely required. Invest everything else.

Click the video to hear more.

Related: The Biggest Risks (and Rewards) of Investing

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