How to get rich…
No matter where you are in your journey to be “rich,” you can improve your financial situation starting today!
The word “rich” is just a placeholder for an idea that can have different meanings for everyone.
It can mean:
- having lots of money
- owning a vacation home
- driving an exotic car
- paying off college debt
- or retiring early one day
Learning how to get rich may seem impossible and completely unattainable, but I’m here to tell you that it’s simply not true. If you’re ready to build your wealth and learn how to get rich, then this website is for you.
Figuring out how to get rich NOW is better than waiting forever.
How To Get Rich – No Matter What Your Age Is
The “Big Secret” And An Invitation
In my experience with helping others get rich, I’ve found people often imagine that they’re invincible and that they have all the time in the world to improve their finances. It’s easy to push things off or spend money carelessly because they can always start tomorrow, or start the next month, etc.
If you play that game, you may be looking for the “Big Secret” about how to get rich quick.
Here’s the truth about the “Big Secret” and how you can make it happen: Stop wasting time and take control of your financial success now.
For each day that you put off improving your finances, the further away and harder you’ll have to work towards your goal of being rich.
Would you rather have your own business now instead of a job? Are you ready to start traveling the world? Would you like to spend more time today with friends and family?
If so, I invite you to read on…
Bonus tip: You can trick yourself into saving money without having to remember to do it by using DIGIT. Digit is a service that looks at your spending and transfers money to a savings account for you. This is an easy way to get the ball rolling in your favor!
Think Different And Learn How To Get Rich
One of the toughest challenges you can face is how to do things different than “most people.”
If you actually want to build wealth, in whatever form that means to you, then you’re going to have to think and act different. Understand that “most people” want to be rich but are wrecked with stress and financial hardship due to their own mindset.
Don’t be like the average person…
- 68% of people live paycheck to paycheck.
- 26% have no emergency savings.
- The median amount saved for retirement is less than $60,000.
- The average household has $7,283 in credit card debt.
- The average student loan debt is $32,264.
To get rich and go above the average, you’ll have to work smart, learn how to manage your money better, and be willing to take risks (such as starting a business or applying for your dream job).
Set Big (little) Goals
Most people start out their wealth building journey with some really high-reach goals. For example, I said I wanted to be making $100,000 in six months from my online businesses.
I wrote it down and would read it out loud every day and think I was doing all these really cool things, and I thought that was the key to making big progress. Everything hinged on that — setting the big goal, burning it into my brain, thinking about that big goal 24/7, and doing nothing but taking action towards reaching that big goal.
But when I had that mindset I was spinning my wheels.
I realized that the reason why we spin our wheels when we do that sort of thing is because of our brain’s natural fear response toward change — whether it’s positive change or negative change. It ultimately comes down to our fight or flight response.
When I took a step back and said, “Instead of trying to focus on generating $100,000 in six months, why don’t I focus on generating $500 in the next 24 hours” — a tiny little goal that I could really break down and say, “I can do this.” It’s a small enough goal that your brain says, “This is doable.”
When I started shifting my mindset from thinking big to thinking small, that’s when all the progress started happening.
To build your wealth, you should always make sure that any goal you set is SMART.
A SMART goal is:
- Specific – What is your goal? Is it specific enough or is it too broad? What needs to be done for you to achieve your goal? Why do you want to reach your goal?
- Measurable – How can you measure your progress? How will you know if you’re on track?
- Attainable – Is this a goal that can be achieved?
- Realistic/relevant – Can you achieve your goal? Is the goal worth it?
- Time – What’s your time frame for reaching your goal?
To reach your financial goals and learn how to get rich, you’ll have to:
- Write down your goals and objectives.
- Create a plan to reach your life goals.
- Break your goal apart into smaller goals.
- Keep track of your goal setting progress and make changes (if needed).
- Find small ways to stick to your goal.
- Find ways to motivate yourself when setting goals.
- Make reaching your goal a friendly competition.
Budget Is Not A Four Letter Word
Now, there is no sin in being on a tight budget.
Nor is it a crime to be broke.
We’ve all been there.
(Some of us back and forth multiple times…)
But I’m here to say: If you want to learn how to get rich, you’ll need to create a budget. Yep, even the rich have budgets!
So many people have money stress between student loans, college expenses, credit cards, mortgages and all the other means we accumulate trying to get ahead in life. However, not many people have a budget. In fact, more than 60% of households in the U.S. do not have a budget!
Budgets work for you not against you.
You need the budget in place so you can get rich without over spending to get there. Your budget should be graphed to how much capital you have to work with, what your expenditures going out are (include all bills and loans), incidentals that pop up unexpected and evaluate just what you can cut back on.
Here are some expenses you must include when creating your budget, but don’t forget any expenses you have that aren’t listed:
- Home – House payment, rent, maintenance, utilities, insurance, property taxes, etc.
- Car – Monthly car payment, gas, maintenance, insurance, license plate fees, and so on
- Television, cable, Netflix, Hulu, etc.
- Cell phone
- Food – Groceries, restaurant spending, snacks, etc.
- Entertainment – Entertainment can include many things, such as going to the movies, going out for drinks, concert tickets, sports, etc.
- Charity – If you regularly donate to charity, then this should be an area you budget for
- Savings funds – This can be for your retirement fund, wedding, travel, etc.
- Taxes – If you are self-employed, then taxes may consist of a large part of your budget
- Health insurance
- Miscellaneous – Pet expenses, fees, childcare, school, gifts, etc.
How To Have The Good Life
Myth: If you are the type of person who likes to save money, you must have a boring life.
Fact: Trust me, there are countless ways to lead an amazing life without breaking the bank.
This is your one-and-only life. Don’t miss out on anything that really matters to you.
Just realize “there’s a budget for that.”
You can still see your friends, have fun with your loved ones, go on vacations, and more, all while staying on a realistic budget. And don’t worry if you see others out doing more lavish things than you. When you budget correctly, you can have those luxuries too.
Check out some of these early retirees who are living the good life. These are the rich role models you want to learn from. I recommend joining their mailing lists, liking, following, sharing, whatever it takes:
If you want to learn how to get rich, then stay determined and find creative ways to enjoy life on a budget.
You got this!
Simple Guide To Making Your Debt Disappear
If you want to learn how to get rich, here’s a little secret:
“Don’t get into any more debt, and pay off whatever debt you have.”
For most debt-ridden citizens, this probably means any high interest debt, any debt that’s causing you stress, and so on.
I read an article on Drudge with the headline “Low-income families spend 40% of their money on luxuries” — I’m shocked, *shocked!* I tell you…
Now I personally have some experience climbing out of debt quickly.
Reason why is, I hate debt.
I want nothing to do with it.
And, I was obsessed with how to climb out of a pile of debt when I first started in this whole online-marketing thingy.
But climb out of it I did.
And you can too…
The first step to eliminating debt is to realize why you have debt in the first place. I believe that if you don’t understand where your problem with debt stems from, then you’ll make it harder on yourself to make a positive change.
After you realize why you are in debt (or why you keep going back into debt), the next step is to figure out how you will eliminate it. There are many different ways to attack your debt, and I prefer a mixture of everything.
To pay off your debt and learn how to get rich, you should:
- Quit adding more debt to your life. You may want to cancel or freeze your credit card, think harder before your next purchase, and avoid spending temptations like the mall.
- Apply more money to the principal and dump those high interest rate credit cards. Transfer the highest rate card onto a lower rated card.
- Be realistic with your income and spending. If you have debt, then you either have an income or spending problem. You may need to start earning more money and/or start spending less if you want to learn how to become wealthy.
- Decrease your spending and expenses. Depending on how quickly you want to get rid of your debt, there are different things that you may want to cut out. You could cut out Starbucks (I know, I know), lower your restaurant spending, find a cheaper way to workout, sell your car for something cheaper/more affordable, cook from scratch, and so on.
- Make more money. The extra money that you earn can be put towards your debt to help you pay it off more quickly.
- Pay more than the minimum. If you have debt, you should always be paying more than the minimum so that you can lower the amount you are paying towards interest.
- Put little amounts toward your debt. For example, whenever you get an extra $25 (such as by selling something), then you should just throw that extra money (that you won’t even miss!) towards your debt.
- Once you’ve got rid of the high rated card, cut it up and don’t get another. You’ll fall into the same vicious cycle of using the credit card when you just cleared yourself of it.
But, this is more or less what I did.
It can totally work for you, too, if paying off debt is your goal right now.
Get Rich With Investments
One of the best ways to get rich and be wealthy is to put your money to work for you.
Take my free advice and start investing now. (I’ll show you how in just a second.)
I started my first investment when I was just 14 years old.
Why am I telling you this?
To brag? (maybe…)
Give myself some self props? (definitely…)
Or is it to *shame* you about not starting your investment plan?
That’s the main reason.
By investing money now, you will learn good investing habits that will help you well into the future.
The reasons you want to invest are so that you can:
- Retire one day.
- Prepare for unexpected events in the future.
- Allow your money to grow over time.
- Learn how to get rich.
Remember, time is on your side, and with the powerful “magic” of compound interest it can change your life. Compound interest is when your interest is earning interest. This can turn the amount of money you have saved into an even fatter stack over time.
But let’s say you just stick $100 under a mattress (which is just as bad as a checking account). In the future that $100 is still only worth $100, but a lot grosser.
However, if you invest, then you can actually turn your $100 into something more.
For example: If you put $1,000 into a retirement account that has an annual 8% return, 40 years later that would turn into $21,724.
If you started with that same $1,000 and put an extra $1,000 in it for the next 40 years at an annual 8% return, that would then turn into $301,505.
If you started with $10,000 and put an extra $10,000 in it for the next 40 years at an annual 8% return, that would then turn into $3,015,055.
So the sooner you invest, the more you will earn.
The more you earn, the sooner you will get rich!
A great article that explains the power of compound interest is Mr. Money Mustache’s The Shockingly Simple Math Behind Early Retirement.
Investing your money can be a scary, stressful, and overwhelming topic to tackle. But you’re not alone. Anybody who has invested has had these feelings. Nobody wants to just throw money away…not even the rich people!
Here are the easy steps to take so that you can start investing your money:
- Start saving your money. In order to invest your money, you need to start setting aside money specifically for it. The amount of money you save for investing is entirely up to you, but in general, the more the better.
- Do your research. Before you start dumping your money into the stock market and other investments, it’s a good idea to know what you’re putting your money towards. Reading about various investment-related tips and research will help you become more informed about your investing decisions, which will then help you make better decisions well into the future.
- Find an online brokerage or someone to manage your investments. There are two main ways to invest your money. You can either invest your money yourself through a brokerage or you can find someone to manage your investment portfolio for you. You will need to take part in one of these options to actually start investing your money. Personally, I like to do everything myself through Vanguard.
- Decide how you will invest. Now that you’ve opened an investment account, you will want to decide where you will put your investments. How you invest depends on your risk tolerance, the time period for which you are investing (when will you retire?), and more. Generally, the sooner you need your funds the less risk you will take on, whereas the longer your time period is, then the more risk you may be willing to take on.
- Track your investment portfolio. The next step when learning how to get rich by investing is to regularly track the things you have invested in. This is important because you may eventually have to change what you are invested in, put more money towards your investments, and so on.
- Continue the steps above over and over again. To invest for years and years to come, you will want to continue the steps above over and over again. Now that you know the steps it takes to invest your money, it only gets easier.
Helpful tip: I recommend using Motif Investing if you are looking to invest your money. Motif Investing allows individuals to invest affordably. This approachable investing platform makes it easy to buy a portfolio of up to 30 stocks, bonds or ETFs for just $9.95 total commission.
Exactly How To Make More Money
It’s pretty obvious that if you want to get rich, you’ll have to find ways to make more money than you currently do.
Back when I got started in this crazy business of online marketing (circa 2004), I was broke as a joke.
I didn’t have a pot to piss in or a window to throw it out.
And, you know what?
That ended up being a GOOD thing.
It gave me the motivation I needed to change my situation. In fact, I dare say being dirt broke like that was a gigantic boon over all the people I knew at the time who were content living paycheck to paycheck.
And guess what?
On Side Hustle Skills, I’ll show you exactly how to make extra income because I believe that earning extra income can change your life drastically. You can pay off your debt and more simply by learning different ways to make money. Imagine dumping the paycheck to paycheck life and finally feeling confident about your finances.
When you take action and start learning ways to make more money, your income potential is unlimited. There’s no cap on how much money you can make- it all depends on what you decide to do and how much time you plan on devoting to it.
Making more money can change your life in positive ways, such as:
- You can pay off your debt.
- Save for big purchases, such as a vacation.
- Stop living paycheck to paycheck.
- Reach retirement sooner.
- Become more diversified with your income sources.
Whether you have just one free hour a day or if you are willing to work 40 to 50 hours a week on top of your full-time job, there are many options when it comes to earning more money. Finding ways to make more money will only help you as you learn how to become rich.
These are only a few of the ways to make more money:
- Find a part-time job.
- Make money online such as creating a blog, becoming a virtual assistant, etc.
- Become an Uber or Lyft driver – Spending your spare time driving others around can be a great money maker. Read more about this in my post How
- To Become An Uber Or Lyft Driver. Click here to join Uber and start making money ASAP.
- Maintain and clean yards. You can make money by mowing lawns, killing/removing weeds, cleaning gutters, raking leaves, etc.
- Answer surveys. Survey companies I recommend include Swagbucks, Survey Junkie, Clear Voice Surveys, VIP Voice, Pinecone Research, Opinion Outpost, Survey Spot, and Harris Poll Online. They’re free to join and free to use! You get paid to answer surveys and to test products. It’s best to sign up for as many as you can as that way you can receive the most surveys and make the most money.
- Move furniture and find jobs on Craigslist. Movers can earn a broad range when it comes to hourly pay, but it’s usually somewhere around $50 an hour if you run your own business.
- If you love animals, then you may want to look into how to make extra money by walking dogs or pet sitting. With this side hustle, you may be going over to your client’s home to check in a few times a day, you may be staying at their house, or the animals may be staying with you. Rover is a great company to sign up with in order to become a dog walker and pet sitter. Learn more about this at Rover – A Great Way To Make Money And Play With Animals.
- Babysit and/or nanny children.
- Sell your stuff.
- Rent a spare room in your home to someone else.
How To Get Rich In Just One Word
Want to know one of the most powerful things that separates the rich from the poor?
Duh, of course you do!
One word: Diversify.
You know, not putting all of your eggs in one basket.
The rich and successful always have many different forms of income streams.
They may have a day job, a business, rental properties, dividend income, and more. This allows them to bring in more money. They also do this because the rich know that one source of income may not last forever, and they lower their risk by having multiple income streams.
So, basically if you want learn how to get rich you will have to create more ways for money to flow toward you.
I don’t care how great your life is now.
Or, how successful you are (or will be).
In fact, the more successful you get, the more you have to be on guard about losing the income that made you successful in the first place.
If you work towards building up multiple income streams and diversifying your income, then you won’t have to worry as much if something happens to one of your other income streams.
By diversifying your income with multiple income streams you will have a backup plan, you can retire easier and you will learn how to get rich.
Helpful tip: recommend that you check out Personal Capital (a free service) if you are interested in gaining control of your financial situation. Personal Capital is very similar to Mint.com, but 100 times better as it allows you to gain control of your investment and retirement accounts, whereas Mint.com does not. Personal Capital allows you to aggregate your financial accounts so that you can easily see your financial situation, your cash flow, detailed graphs, and more. You can connect accounts such as your mortgage, bank accounts, credit card accounts, investment accounts, retirement accounts, and more, and it’s FREE.
The Wealthy Find Ways To Save Money
The rich find ways to save money.
True, this millionaire secret will not “create” wealth for you.
But it can MULTIPLY your current wealth.
It’s just a no brainer for the rich, and it should be for you too!
Finding ways to save more money can allow you to pay off your debt a little faster, improve your financial habits and help you reach your dream sooner.
Yes I know there are rich people who blow their money like crazy and end up in bankruptcy. But the average millionaire is actually pretty frugal, and they know how to manage their money well.
Don’t believe me? Here are some actual millionaires and billionaires who still find ways to save money:
- Warren Buffett lives in a house that he bought in 1958 for around $30,000.
- Mark Zuckerberg drives an Acura.
- John Caudwell (worth $2.7 billion) rides his bike 14 miles to work every day and even cuts his own hair.
- Jim C. Walton (son of Walmart founder) drives an old truck with no air conditioning.
Another interesting statistic is that the average couponer is someone who earns over $100,000 a year. Surprisingly, those who earn less than $100,000 a year rarely use coupons compared to those with high incomes!
By finding ways to save money, you’ll be able to keep more of your money, learn how to get rich, add more to your investments, and so on. You worked hard for your money, so you may as well find ways to keep more of it!
Don’t Try To Impress Anyone
Have you ever bought something just so you could flaunt it?
As much as my ego hates to admit it, I’ve done this.
And I’m not alone.
But if you want to start building wealth and understand how to get rich, then forget showing off to others, keeping up with the Joneses or whatever.
Stop trying to impress others and start living your own life. Make your own dreams a reality. Cash in on who you want to be. We all want to get rich and live the dream instead of only dreaming of the dream.
The rich tend to live below their means. Yes, many of them still spend money extravagantly, but they aren’t living paycheck to paycheck in order to do so. Many millionaires buy items used, they drive “normal” cars like Toyotas, and they aren’t buying things with the sole purpose of impressing others. Most millionaires are not in the spotlight so we don’t see just what penny pinchers they really are. Don’t fall into the trap of lifestyle inflation which can prevent you from being a good money manager.
When trying to keep up with the Joneses, you might spend money you do not have. You might put expenses on credit cards so that you can (in an Insta-famous world) “afford” things. You might buy things that you do not care about. The problems can go on and on.
Instead, focus on what you want and need to be happy and get rich.
Do you want to learn how to get rich? What does “rich” mean to you?