It apparently takes $2.4 million to be considered rich in America. Unfortunately, not many of us are there yet. Adam Auriemma, Editor-in -Chief at Money joins Your Cheddar to discuss how people can commit to building wealth in the new year...and maybe start their journey to becoming "rich."

Auriemma says that in order to hold yourself accountable you should sign a contract at It forces you to input what you've saved and what you have to pay! The fees goes to charity, but it's a great way to always remember to think of your wallet. He also reviews a few bad financial habits people should leave in 2017.

Plus, what will the new tax bill mean for freelancers in the future? Auriemma explains why some may want to set up their businesses as LLCs in order to recieve a higher tax benefit.