On a low income/ minimum wage, how can you go about building wealth? It may take a bit of time to build momentum but by committing to budgeting, saving, investing and building upon yourself to continue to raise your skillset and value, success and wealth will be inevitable. In this video I go in to what I would personally do if I had a take home of £1166 a month (minimum wage with a 35 hour work week). I would go about budgeting all of my expenses, ensuring I could save and invest £200/ month (would be my goal).
I would then take this money, as I do with my own money, and leverage it to improve on my skillset, take up side hustles and build small businesses to ultimately generate me more income. This process can be rinsed and repeated continuously throughout life, allowing the snowball effect to take hold and wealth to be built, starting with nothing.
INVESTING
The brokerage account I currently use to invest is Nutmeg. They are perfect for beginners for investing. Follow this link to begin investing with them with 6 MONTHS NO MANAGEMENT fees.
BUDGETING
I use the debit card and app, N26, to track my spending and set up budgets. It's FREE to use. To get your own head over to and use referral code: rachaelw4564
0 Comments