This document presents a new method for image compression called Haar Wavelet Based Joint Compression Method Using Adaptive Fractal Image Compression (DWT+AFIC). It combines discrete wavelet transform with an existing adaptive fractal image compression technique to improve compression ratio and reconstructed image quality compared to previous fractal image compression methods. The document introduces fractal image compression and its limitations, describes the proposed DWT+AFIC method and 5 other compression techniques, provides simulation results on test images showing DWT+AFIC achieves higher peak signal to noise ratios and compression ratios than other methods, and concludes DWT+AFIC decreases encoding time while increasing compression ratio and maintaining reconstructed image quality.