How to Make Your First $10K In Net Worth (Step by Step)

Being under a $10k net worth can be a tough hole to get out of. Luckily, there are a few habits you can build and things you can do to slowly grow that net worth to have more of your money work for you. In this video, we go through 4 steps to moving beyond a $10k net worth that anyone can do!

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WHO AM I?
Hello 👋 I’m Humphrey, I used to be a financial advisor, worked in gaming/tech, and started my own eCommerce business. I make practical, rational content on investing, personal finance, the news, and much more with a data-backed approach. My goal is to help you with financial literacy and creating wealth.

PS: I am no longer a current Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel!

⏱️ Timestamps:
0:00 - Start Here
0:23 - Know Wher Your Money Goes
4:01 - Invest in Yourself
6:12 - Establish an Emergency Fund
8:28 - Eliminate High Interest Rate Debt
9:53 - Tips on Getting to $10k Faster

[humphrey]

Thanks for watching this video guys! It's a new type of series...next video in this series will be steps to hit $50K in net worth so make sure you are subbed and tick the bell bro/broettes...TICK IT

[Suntz_u]

Net worth truly snowballs after $100k! Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE!

[Courtney-Alice-Gargani]

I think you should always know where your money goes no matter how much money you have.

[alexpietsch]

My wife and i figured out we increased our net worth by 100k in 4 years.
We went from -81k in 2020 to 26k last month.
40k of which was selling a condo and transitioning to renting in our long term town of residence.
Im really proud of the overtime and strict budget that built the other 60k, especially considering we had 2 kids in that timeframe

[thomasschott]

10k is the easy one (unless you’re in debt) 100k is the tough one

[Neerav]

The fact is $10k is not life-changing by any means but what it does is shift your mentality. Saving $10k is easy at any salary level when you learn it. First 10k might be hard but once you learn it, the next one could be half or less than half the time.

[SteveYoung]

It's too bad most people didn't have these personal finance resources so easily accessible 20 years ago.

[johnprince]

This series is going to be extremely helpful. I’m about to pay off all of my student debt and then plan on aggressively building my “nest”.

[WilfredoDurgan]

You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a Bitcoin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life

[AFR]

I am 29 and am at 70k I am saving aggressively to hit the 100k milestone

[ToxicCallum]

Really sucks that these comment sections are filled with bot comment's promoting financial advisors/ mentors. Can never find useful information down here. 😔

[Money-Fast-Plan-a]

You're a trailblazer in your field! 🚀 - "The only thing that stands between you and your goal is the story you keep telling yourself about why you can't achieve it.."

[Jack_Clemans]

I increased my savings rate to over 50% with a $63k salary just by tracking expenses and carefully deciding how I wanted to spend. Now I have saved enough to quit my job and take some time to build my own channel. Cannot stress enough how much tracking income and expenses and being intentional with spending is LIFE CHANGING! Great video Humphrey! No shock there ;)

[TaggeGust]

I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Charlotte Miller.

[Miner-dyne]

You are doing a great service by educating young folks. These concepts are sadly missing from the modern zeitgeist.

[Kenneth]

I wish to diversify my assets by investing in ETFs/index funds and stocks of corporations with stable cash flows. I received $400k from the selling of my condo in Mansfield. Do I need some sort of asset manager to achieve this?

[DaniOchannel]

Thank you, Humphrey! Looking forward to the next video 😊

[binkyandgunther]

liking this new series idea! looking forward to seeing how strategy changes as you go up and up. thanks humphrey!

[FreejackCandy]

I am 26 and live in a post USSR country and have a net worth of 60k$.

I have been saving up since 21, even though my salary was 5k$ a year. It has increased a lot in the past 5 years, with serveral promotions and new jobs.

I have 2 jobs now and I am netting 32k$ a year.

Have a fully paid off car and I am planning on paying off my mortgage by the time I am 27!

You can do it guys!

[Sgunner]

One thing I'll add about 401ks and high yield savings accounts is the key is to automate and put that money as far away from you as possible. If you find yourself still living comfortably without that money, ratchet it up slowly. This may drive your HR dept at work insane but 🤷. I made changes like 10 times last year before I found my comfort zone where I was saving a decent amount and still had enough going to my primary checking for my needs.