If a genie gave you three wishes, you’d likely use one to wish for money. After all, being rich and wealthy is a universal desire. Unfortunately, genies aren’t real. So, how can you make your dream of becoming rich a reality?
There isn’t some fancy answer or hidden secret; there are only so many ways to make money.
But if you follow a few key rules and learn how to build wealth by taking realistic and practical steps, you can absolutely get rich – even if it takes some time.
Many successful people who started from scratch have used these financial strategies time and time again. By following their lead, you can build your own fortune and achieve financial freedom.
Whether you were born rich or not, the strategies you are about to learn can help you become wealthy. Here are 10 things you can do to get rich and be financially successful.
1. Choose a Job That Pays Well
You can’t become rich without an income unless you were born rich, received a healthy inheritance, or won the lottery. Getting a high-paying job is one of the easiest ways to make money and build wealth. With a good job, you can make enough money each month to pay for your bills and put some money in the bank.
However, finding a good job that pays well isn’t always easy. If you can’t find a job that pays well, you have a few options.
You could work more than one job if you have the time. Plenty of freelance, gig, and part-time jobs have flexible schedules. They also teach you new skills, too, which increases your chances of getting a better-paying job. Or you might need to upgrade your education more formally with a training course or certification program.
Can you move? A different job market might have more opportunities for you to increase your earning potential.
If you already have a job but feel that you’re not being paid what you’re worth, it may be worth having a conversation with your employer to negotiate better pay or benefits.
2. Start a Side Hustle
Who doesn’t have a side hustle these days? If you have a hobby or skill that you can turn into a service that people will pay for, you can use the extra money to get rich. With plenty of side hustle ideas to choose from, a good side job can help you make extra money that you can invest or put in a savings account.
So, what are you good at? What are you interested in? From web design to pet-sitting, the possibilities are endless.
3. Start Your Own Business (Full-Time Or Part-Time)
Since the richest people in the world are business owners, it is safe to say that having a good business can help you get rich.
Although side hustling and starting your own business have many similarities, some important differences set them apart.
Side hustles are typically done on the side of a full-time job. They are flexible, easy to start, and usually have a low start-up cost, if any. You’re also working for someone else.
As a business owner, you’re the boss. You have greater control over the products or services you offer, as well as the direction of the company. Starting a business involves a higher level of risk, and the potential for both success and failure is greater. It requires more commitment and investment of time and resources.
Having a successful business has to be one of the best ways to get rich, especially if you know how to multiply the money you make from it. If you can start a good business and grow it, you may never have to worry about how to get rich again!
The days when you needed a lot of money to start a business are long gone. With all the opportunities in the world today, especially online, all you need is a great business idea, workable marketing and sales plans, and enough money to put the idea into action.
But every good business needs time to succeed. Getting rich takes time; it doesn’t happen overnight.
4. Make Your Finances More Automated
If you want to build wealth, your financial plan should run by itself. When your money is taken care of automatically, you won’t have to stress or worry about paying your bills late or forgetting to move money into your savings.
In fact, saving and investing money becomes very easy with automation. You set it up once, and then you don’t have to think about it anymore.
5. Put Your Extra Money to Work
To build wealth, even on a low income, don’t waste your money on small things. Instead, put it to work.
Investing is one of the best ways to get rich. And despite what many people think, you don’t need a lot of money to do it. Because of the fintech industry, apps and websites allow you to invest money and get a good return on investment (ROI). Some of these platforms will let you invest as little as $100 and give you a return of at least 12% in a year.
When you make an investment, you won’t immediately see your return on investment. If you want a very good ROI, you’ll have to wait a while (as in years).
6. Set Clear Financial Goals
How can you get what you want if you don’t know what you want? Rich people know exactly what they want and how to get it and are committed to achieving it.
Before you can learn how to get rich (or at least richer), you need to set a specific goal, like how much money you want to make each year and how much you want to save. It will give you a target to work towards and allow you to track your progress.
7. Put Aside Extra Money
Building wealth obviously includes saving money. If you get a bonus at work or a birthday check from your grandma, don’t spend that extra money. Even if it’s just a few dollars, put it away. Over time, it can add up to a significant sum.
You can use the extra money you save to make investments, pay off debts or student loans, or take that dream vacation.
8. Keep Track of Your Money
You’ll never learn how to get rich if you don’t know where your money goes. Keeping track of your spending is important if you want to grow your money, avoid impulse buys, and avoid common money problems.
Keeping an accurate record of your spending is easy. There are a lot of apps that can help you track of your expenses quickly and easily. All you have to do is sign up and follow the simple instructions.
If you can’t find a good app, you can record your daily purchases on a spreadsheet on your computer. At the end of the month, you can add up all your costs and see how they compare to other months. This will help you figure out if you are spending your money wisely.
And, of course, pen and paper works, too!
9. Associate With Rich People
Rich people are a good example of the old saying, “Birds of the same feather flock together.” One way to get rich is to hang out with people who are already rich or who want to become rich.
By building relationships with wealthy people, you will start to think like them. You might also find out about some of the smart things these rich people have done to achieve what they have. More importantly, you could take advantage of any opportunities they offer you.
10. Change the Way You Think
What you think tends to become your reality. If you have a mediocre mindset, learning how to get rich is hard or even impossible.
But if you have a strong belief that you can become wealthy, you will find the ability to do so. You will be able to come up with ideas and workable plans to increase your income and grow your wealth.
Working on your mindset means that you need to think and act like wealthy people. You should try to copy their habits and make some of the same choices that led to their success.
11. Stop Wasting Money
There are so many ways to waste money: a gym membership that you never use, weekly lottery tickets, leaving the lights on, and getting food delivered. These are just a few examples.
Take a good look at what this waste is costing you and make some adjustments. For example, start going to the gym once a week, occasionally buy lottery tickets, start turning off the lights, and cook at home (or at least go pick it up yourself and save the delivery fees and tip).
How Can I Get Rich the Quickest?
I wish I knew the answer to this question! The truth is, there isn’t one guaranteed way to get rich quickly. Most wealthy people use a variety of money-making strategies to alleviate the risks and increase their chances for success.
However, one of your best options is to invest your hard-earned money in a business that makes money and has a high return on investment (ROI). Many business opportunities and ventures can make your money go further.
Every investment must be carefully planned, though. Assess the risks and look for a positive forecast. If you don’t consider these, you might lose your money instead.
You Can Be Rich
Who said making money has to be dull and tedious? It’s actually a fun and exciting venture that anyone can take! All you need to do is play by the financial rules, make savvy decisions, and put in the hard work.
Just keep in mind that making bank doesn’t usually happen overnight. But you can build your wealth empire with a little patience and persistence!
So, don’t let anyone tell you that you’ll never be rich and successful. Get out there, take action, and start making your dreams a reality.
Amanda Kay, the founder of My Life, I Guess, provides valuable career advice and support for anyone striving to make a living and, more importantly, make a life. Whether it's navigating job searches, learning new skills, overcoming unemployment, or dealing with debt, My Life, I Guess has been a go-to resource for career guidance and financial stability since 2013. Amanda's expertise and relatable approach have been featured in trusted publications such as MSN, Credit.com, Yahoo! Finance, the Ladders and Fairygodboss.