A Young Family’s Roadmap to Building Generational Wealth

Young families are often faced with financial challenges when starting their journeys through life. These can be turbulent times as many are settling into their careers by getting jobs that pay decent money and figuring out what to do with it.

How do we balance it all?

Living with intentionality is key. But let’s also be honest, so is having a good income. Often personal finance bloggers suggest cutting on the expense side instead of increasing on the income side. It’s easier to suggest eliminating cable or cutting out $5 coffee than finding a new job or building a side hustle.

How Do You Build Generational Wealth?

Below are three of the things we did right that helped us dig out of debt and continue building our investments in our 30s. Some may seem like common sense, but I believe they are critical to build a foundation to eventually build your family’s generational wealth.

Minimize Lifestyle Inflation

Becoming financially literate early will allow you to minimize the temptation of lifestyle inflation until you can afford the life you want without financing it.


Realize the Benefits of Investing Early

Find a way to get started with investing as early as possible, even if it’s only $25 a month. Become dedicated to creating a gap between your income and spending. Grow that gap by looking for ways to increase your income and reduce expenses.


Set Your Financial Foundation

Becoming mindful about money early in life will give you the opportunity to set your financial foundation. Having a strong foundation will provide more flexibility as you grow your young family.


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