Increasing wealth is a lofty goal — one we all probably have. But if you’re the average American, you might not know how to start if your expenses don’t leave much room for investing. Finding ways to generate income doesn’t always mean stocks, investments, and portfolios. Using a little creativity, we can invest in ourselves using very little money. Here are 13 ways you can increase your wealth by investing in yourself.
1. Declutter: It’s good for the mind and wallet
You’d be amazed at just how much money is lying around your home right now. Instead of tossing your unwanted items in the trash, try selling them for cash. Items, such as clothing, computers, cellphones, jewelry, furniture, and toys are all fair game.
Consignment stores often take unwanted clothes in good condition and give you a portion of the profits. And online retailers, such as eBay, Craigslist, and LetGo, make it easy for you to manage the resale of your items via your computer or smartphone.
You can also get a tax break on goods you’ve donated to charity by claiming charitable deductions based on the item’s market value. Goodwill Industries offers a value guide for items typically sold in its stores to help you calculate costs during tax time.