You must have come across millionaires on Instagram showing off their cars, vacations and anything expensive that you could probably never afford?!
Becoming rich is far from easy and the road to becoming a millionaire is lonely and will require you to make many sacrifices.
99% of people settle for a stable 9 to 5 job to meet their expenses. Rest 1% are millionaires!
If you are here it means you want to achieve financial stability in life such that purchasing things becomes easy for you, no need of checking the price tag before purchasing any items and living a life that everyone dreams of.
But, how to get rich earlier in life? People are always looking to make six or seven figures income to have an early retirement from their regular full-time jobs. You cannot get rich overnight. It requires years of hard work, struggle, and of course failures!
I came across several people in life who said:
– If you cannot become an Engineer/Doctor or if you are not good at Maths/Science (during school days), don’t even dream of becoming rich in life.
But, such is not the case. As you grow up, you will realize there is more to life than studying and getting a full-time job. In most cases of jobs, people don’t have a work-life balance.
Parents spend thousands of dollars on education so that their children could get a job! 99% of people of the world believe that this is the best way to become wealthy and successful. At least, that is what society taught us.
I am not against working at a full-time job but if you are reading this article, your goal is to get rich or become a millionaire. And working at a job for 30 years will take you nowhere nearer to your goal of becoming a millionaire.
So, I have made a list of ways on how to get rich in life.
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1. Rich people save a ton of money:
If you want to retire early, saving money should be the top priority.
Chime’s automatic savings might help you to save more money.
When you make a purchase with your Chime Visa debit card, they will round up the transaction amount to the nearest dollar. They will transfer the roundup from your spending account to your savings account.
You will be able to save money on a regular basis without having to think about it! How cool is that?!
Also, if you haven’t heard of Chime before, here is a short and compact guide on how it can help you:
Chime is an award-winning financial app and debit card that helps in managing, saving and spending money.
Chime’s mission is to make financial peace of mind a reality for all Americans. Make your money work harder for you with Chime’s optional savings account. It’s like putting your savings on autopilot.
All you have to do is to set up a spending account and you’re ready to enroll.
Chime offers a fee-free overdraft on up to 200 dollars of all debit card purchases.
Chime has no overdraft fees or foreign transaction fees, monthly service fees or transfer fees.
They also have thousands of fee-free in-network ATMs. You will be able to pay instantly to anyone even if they are not on Chime.
2. Rich People Invests Their Money:
Apart from making money, we also need to invest money. You can earn money by investing it in real estate, the stock market, blogging, and online courses for learning new skills. Learning new skills would help you to get some side jobs. Some high-demanded skills are Sales, Graphic Design, Web Development, Digital marketing etc.
1. Use Acorns to invest money on a daily basis.
2. Invest in stocks with M1 Finance and Public.com
3. Invest in real estate with RealtyMogul.
4. Invest in cryptocurrency with Coinsmart and Coinbase
Want to learn more about investing? Read this article on how to start investing for beginners.
3. Keep Learning:
No matter what field you are in, don’t forget to upgrade yourself. New things are being discovered every day.
Take your time to sit twice a month and upgrade your knowledge by surfing the internet or by taking online courses. This will help you a lot to go to the top-level player in your field.
Linkedin Learning offers over 17,000 courses where you can learn from industry experts and enhance your knowledge. You can find courses on Animation, Graphic Design, Web Design and many more!
4. Have Multiple Sources of Income:
It is difficult to make tons of money just from a single source of income or from a 9 to 5 job.
Working under someone lifelong won’t give you the financial stability that you always dreamed of. Working under someone just means you are fulfilling other people’s dreams.
Apart from doing jobs, it is always better to have several other sources of income.
For example, one can start a catering business, or own an online store or even write an Ebook to generate passive income. This is because no one has become a millionaire by depending on their job salary.
Related post: Habits of successful people who are never broke.
5. Start a Side Hustle:
Side hustles have the potential to make a good income from home.
You can start your own Tutor business, or start a blog, online dropshipping store, or make money online.
Want to start a side hustle? Check out these posts:
- Best Part-Time Evening or Night Jobs For Side Hustlers
- Best Side Hustles For Women to Make An Extra $1000 A Month
6. Make A List Of What You Want To Achieve
What is your definition of becoming rich?
-Is it owning a lot of wealth?
-Do you want to own a successful business?
-Do you want to get a high-paying job?
-You want to become the next millionaire?
-Or, you just want to stay happy with your family?
Ask yourself what you want. Where do you want to see yourself in the next 4 to 5 years? Remember, if you are dreaming of owning a successful business, don’t dream. Execute it! Do what is needed to get your work done.
Make a list of the things that you want to achieve within the next 365 days. And start working towards it. You might fail to successfully do everything that is on the list but you will be way ahead of time.
7. Value your Time:
You must learn to make the best use of your time. Start early. If you start early, you will have time to correct mistakes and make a comeback.
Don’t take time for granted. Take a notebook, and write down your plans on paper.
Set a goal and do everything possible to make that happen. In this way, you can be one step ahead to get rich in life.
8. Save Money on Shopping:
Making money is not enough. we also need to save money.
You can save money by doing online shopping from certain cashback websites like Rakuten or Ibotta.
Always try to look for coupons and deals while shopping. This will help to reduce major expenses of day-to-day life.
9. Make Extra Money To Increase Savings:
Make free money in your spare time by just sharing your opinion on Survey Junkie or Swagbucks. You cannot make a lot of money from taking surveys, but taking surveys from different websites can make an extra $50 per month. The more survey you do, the more you earn. Hence it adds up to another source of income.
PROTIP: My favorite way to make money online is to start a blog. It is because you can earn thousands of dollars by working from home. If you don’t know how to start a blog, you can read about my step-by-step guide by clicking here.
10. Take Risks In Life:
Miracles happen by taking risks. If you don’t take the risk of investing or following a path that is different from your friends, you can never end up being different.
You should have the courage to take risks or choose a different career path in life. Becoming a successful entrepreneur requires a lot of passion and hard work.
That is why it is best to take risks while you are a school or college student. Because, at that time, if your business idea fails, you have nothing to lose. You can carry on with your job preparations.
Last but not the least, HAVE PATIENCE!
Remember you cannot achieve your dreams overnight. You will fail once, twice, or thrice. But it is your patience that gets you going.
If you follow the above-mentioned tips, you will definitely get one step ahead to get rich in life.