Who doesn’t nourish the dream of being rich one day, and never having to wonder how to end the month without difficulty? Against all odds, anyone can hope to significantly increase their income, regardless of their situation.
Analyzing this article can help you reach your goal in 15 unique methods, thanks to the internet mainly. But at the risk of disappointing you, there are no miracle recipes for making a quick fortune: this ambitious project must be carried out step by step.
On the program of this long article already updated several times :
- What does it mean to be rich? Each person has his or her own notion of wealth, as well as a personal goal.
- How to become rich? The qualities required to succeed and the 15 ways described.
- Getting rich from scratch: to motivate yourself, find several inspiring examples of people who have succeeded in changing their standard of living from scratch (without a diploma, thanks to their passion).
- Conclusion
What does it mean to be rich?
To begin with, what will we imply through “rich”? In reality, the notion of wealth is very subjective, and we couldn’t bring up the subject without telling you about it.
Concretely, everyone can have their own objective of wealth: it is not necessarily to drive the most beautiful cars or to retire right now, quite the contrary! Some may consider that they are rich enough as long as they live comfortably without lacking anything, and have the possibility to enjoy themselves frequently. Everything also depends on their daily working hours: working little — or not at all — and earning enough money to live happily, isn’t that a certain form of wealth?
To determine a person’s level of wealth, countries such as the United States use income and the value of assets as a basis. This approach of calculation is correct, however now not ideal: debts and charges are not taken under consideration.
Let’s take this example: an heir of a castle in poor condition becomes rich in the eyes of his country, even if he has trouble getting by at the end of the month because of all the expenses that his prestigious property requires. Beneath these situations, there may be unluckily little chance that the heir in the query will feel wealthy. Therefore, it is preferable to determine his level of wealth in relation to his total income, taking into account his expenses (to be subtracted).
In the United States, the average gross monthly salary is approximately $4,176.7. Many people who are above this base already consider themselves rich, but it is important to know that others aim much higher by wanting to earn a lot of money: it is all a question of ambition.
How to get rich from scratch?
Do you also dream of being rich? You can probably become rich, but probably not overnight.
On the one hand, these few qualities are required:
Being clear with yourself and realistic: what is your financial goal to satisfy the lifestyle you hope to achieve? Ask your self these varieties of questions and make alternative choices. Don’t think that money is going to fall from the sky, it’s up to you to go and find it where it is.
Remain determined and perseverant: don’t give up at the first difficulty you encounter. There will certainly be many. Being rich is mostly earned.
Be patient person: “rewards comes to people who understand how to wait” says the maxim. With patience, becoming rich is indeed possible.
On the other hand, in 2020, there are serious methods that allow for a total change in quality of life. We have identified below 15 of the most relevant and effective ideas to help you realize this ambitious project from scratch. Here is the summary :
- Take advantage of your own capabilities
- Save as soon as possible, as much as possible.
- Limit all expenses
- Invest in solutions for the future
- Payback your credits (and limit them)
- Get to know yourself and use your potential
- Solicit a maximum number of revenue sources
- Fight the temptation to spend it all
- Empty your attic
- Play video games in the big league
- Expatriate to become rich more easily
- Master the art of negotiation
- Learn how to be well informed
- Positive and gain confidence
- Be methodical
1. Take advantage of your own abilities
To develop your financial resources initially, perhaps you can simply apply for a professional promotion by requesting a raise, or even change jobs? You will get a significantly higher salary every month.
To do this, concentrate on your strengths: if you like languages, for example, learn a new one. Don’t hesitate to consult free online courses to learn targeted skills that will be useful in your field. Finally, you can also ask for the help of a coach, start your personal development and be highly motivated in your professional life, in order to gradually climb the ladder.
2. Save as much as possible as soon as possible.
One of the secrets to being rich is the power to save. The most financially comfortable people are usually not the ones whose fingers are burned with money…
Concretely, every month, when you have not spent all that you have earned, think about investing the surplus. Don’t hesitate to ask for expert advice, in order to find out the most advantageous solutions to make your money grow, because the most common passbooks are no longer very interesting. For example, you can buy a stock on the stock market and hold shares in a company investing in real estate, in order to claim returns that sometimes reach 10%.
However, like online trading, these practices require a good knowledge of the financial world.
3. Limit all expenses
There are many ways to optimize your finances and reduce your monthly expenses (by following our tips in particular). Take the time to detail your accounts month by month.
Identify the origin of all debits, then look at each insurance contract, even when it only represents about ten dollars. Some are no longer of any use, others can be renegotiated. You can do something to save energy, to lower water, gas, and electricity bills. If you have taken out several consumer loans, also consider buying back credit, which offers you interesting opportunities: more advantageous monthly payments, the possibility of paying back your loan faster if you have the means, etc.
4. Invest in solutions for the future
Spending money can pay off in the long run!
There are many opportunities to invest small amounts of money. This is the case in real estate, with the investment on a rental investment, which gives you more than attractive monthly rents, especially since a certain number (in furnished rentals, in particular) are subject to tax deductions.
If you have the capacity, you can also create your own business and become your own boss (earning a living on the internet is even conceivable in 2020). Of course, to do so, you need to set up a real project and surround yourself with the right people, but this is an initiative that can be very profitable in the long run!
5. Payback your credits (and limit them)
As you probably already know, borrowing costs money. So, once you manage to make some savings every month, start by using them to pay off your debts. Don’t hesitate to increase your monthly payments to finish your loan agreements faster, and ultimately save money.
Afterward, use bank credit as little as possible. Naturally, in some cases, such as a real estate purchase, you have no choice but to spread out your expenses. On the other hand, don’t be tempted to pay for classic consumer goods in installments, which are more expensive in the long run. Moreover, this practice makes you financially dependent, which you must absolutely flee if you want to get rich.
6. Get to know yourself and your potential.
Once you know how to do something, ask yourself the following question: can everyone do it? If the answer is no, chances are you can make money with that particular skill. And it’s not just about very complicated skills, far from it.
For example, if you’re very good at assembling furniture, you work fast and well, you can offer your services on dedicated mobile applications, and accumulate euros to round off your ends of the month. If you are totally computer literate, all you have to do is take courses to pocket more or less important sums, which will give you more financial comfort in the long run.
So don’t underestimate any capacity: anything you know how to do can help you increase your monthly income, even if it’s not always a question of making a career.
7. Solicit as many sources of income as possible
Once you have fully grasped your potential, you know what can make money among the different activities you like to do, and that you are in total control of. Once this awareness is achieved, you must take action, and mobilize your qualities to multiply your sources of income.
It is not necessarily your talent for web design that will make you rich. Not even your habit of giving English lessons, or your do-it-yourself services to the neighbors. On the other hand, if you combine all these small activities together, you will see your monthly income gradually increase. It is often said that “small streams form big rivers”: use this quote as an inspiration to engage in as many activities as possible and get richer!
8. Fight the temptation to spend it all
When you get rich, you are logically tempted to treat yourself, or even to give more gifts to your loved ones. Of course, this is possible: nothing prevents you from enjoying this greater comfort of life. However, to really gain purchasing power, you sometimes have to learn to contain yourself… and leave more money aside.
In fact, if you don’t spend everything you receive, you can create “emergency” savings, which will help you face life’s hazards (health problems, car trouble, necessary work at home, etc.). At the same time, you can also put money aside for another project: investing in real estate, starting your own business, investing in the stock market.
9. Empty your attic
By emptying your attic or storage room, you may well find treasures that will bring you a lot of money for resale. Above all, don’t do this work in haste, to save storage space quickly. On the contrary, take the time to sort everything out, look at each object, and eventually do some research to find out if it is part of the valuable antique accessories.
For example, knick-knacks inherited from your grandparents can fetch tens of thousands of euros at some auctions. More surprisingly, some objects that are not so old (art deco style, for example), are part of the current trends; they are likely to be easily sold at a rather high price.
Vintage fashion can be a vector of enrichment if you are used to keeping everything in your family. For example, recent newspaper articles have shown that old Disney VHSs, which are only a few decades old, is already starting to become collector’s items.
10. Play video games in the big league
Few video game enthusiasts (the so-called “gamers”) manage to turn their hobby into a profession. But if you can do it and excel at it, you can become extremely wealthy while having fun, even though the profession is still under a lot of pressure.
Some gaming professionals work only from home. Their income comes from partnerships with merchants and merchandising companies, among others, but also from monetizing their videos on YouTube (they play live, post their exploits and animate a community).
To make video games even more profitable, you can participate in real competitions, where the best recruits sometimes win several hundred thousand euros. With this in mind, you shouldn’t be afraid to give up some of your daily pleasures to train for at least forty hours a week. Indeed, on this kind of event, you don’t face amateurs: you have your chances only if you give yourself the means to win.
11. Expatriate to become rich more easily
Not all economic contexts offer the same opportunities to get rich: the cost of living, but also the taxation and housing prices in some foreign countries can help you become progressively richer.
Contrary to all expectations, you will not necessarily have to go far to aspire to a higher standard of living: in Lisbon, Portugal, you pay little tax, housing remains very affordable and daily life is not expensive. You can continue to work on the internet in your new country, make your business grow, while enjoying more of your profits (because you will spend less than in France).
Other destinations such as the Dominican Republic or Bali in Indonesia will allow you to completely change your scenery, to live for less, and to find a source of income, especially on the web. Of course, in order to cross these milestones, you must be able to meet others, not be afraid of the unknown, show a certain open-mindedness, and speak at least English.
12. Master the art of negotiation
In life, everything is negotiable: we would earn a lot of money if we were truly aware of it. In concrete terms, whether it’s your bank loan, your mortgage insurance, your health coverage or even your more common purchases, there is often a margin for negotiation that few consumers use.
In your professional life, on the other hand, you have to learn how to use your skills to push prices up. All this cannot be learned in a day: it takes maturity, self-confidence and technique. But with time and desire, you can undoubtedly become a good negotiator too.
13. Learn how to be well informed
You don’t get rich overnight. For your income to increase and your financial situation to be favorable, you must make the right choices, implement appropriate schemes, and think about the most relevant solutions in your particular case.
Before creating savings, launching your business or even signing up with new, cheaper insurance, always make it a habit to get informed. Anticipate expenses, know all the consequences of your actions, read the “fine print” of each contract. Never make hasty decisions, but think carefully about the logical consequences of each initiative.
At the same time, when you surf the Internet, only consult relevant sites that give you advice — but that don’t claim to deliver a magic recipe that will effortlessly enrich you. Beware of beautiful promises that can rarely be kept, and always use your judgment when you inquire: if a method seems too beautiful and too easy, don’t let yourself be influenced too quickly…
14. Positive and Confident
Many people remain poor because they don’t believe in themselves. For example, you are often told that you can get rich by creating your own blog, setting up your own online store or investing money in the stock market.
Faced with these different possibilities, people who are too negative will say that they are unlikely to succeed, because many embark on these adventures and fail. Conversely, positivists will seize the opportunity that seems most interesting to them and devote themselves to it without fear, in a methodical and reasoned manner. If you believe in yourself, you increase your chances of gradually becoming a little richer.
15. Be methodical
Unless you win the lottery (by the way, here are a few ideas to increase your chances), you won’t get rich tomorrow at the snap of a finger. Whatever your choices, you’ll have to be methodical: think carefully, anticipate all the consequences of each action and wait for the fallout.
Becoming rich is a project, which can be envisaged over the medium and especially the long term. Don’t lose patience, if you put a maximum of good will into it and if you choose the alternatives adapted to your profile, you will achieve your goals.
They became rich from scratch: inspiring examples to motivate you
Despite reading these tips, you still don’t believe it, you don’t think you can do it in 2020. These few true little stories can give you hope; and, most importantly, prove to you that anyone can make a big difference in your life by starting from scratch.
These big bosses without a diploma, totally self-taught
Did you know that? As head of Microsoft, Bill Gates has no degree. He discovered computer science at a selective school, but he started his career at the age of 13 when he had fun creating the Lakeside Programmers Group to improve the systems and applications of the time. He entered Harvard and left just as quickly, without a degree: he preferred to drop out and learn computer programming on his own. It was his passion and determination that made him the man we know today, at the head of a fortune estimated at more than US$110 billion.
Similar profiles can be found at the head of many other multinationals such as Facebook and Ikea.
A passion and an invention that propels him to the top
Sometimes a simple “genius” idea can make you rich — and you don’t need a degree to be creative, as Ferrero demonstrates. In 1949, Pietro Ferrero, a simple pastry chef, tried for the first time to replace the (very expensive) cocoa in chocolate with hazelnuts. This is how he invented a famous spread, the Nutella. Later on, the firm expanded with big names such as Ferrero Rochers or Kinder chocolates. But everything comes from a simple idea, and a desire to innovate!
In conclusion
We’ve tried to give you a few pointers to help you get rich in 2020. To conclude, we would like to remind you that any wealth project can involve risks. Never embark on a venture that could ruin you, and always find out about the solution you are going to mobilize. And to achieve your objectives as quickly as possible, never forget the key ingredient: determination!
Originally published at https://www.easymakewealth.com.