The 7 Best Ways to Get Rich Without Really Trying

 

Even if you have a tight budget and no family inheritance, you can still get rich. Indeed, getting rich is much less about how much you have, and more about how you think. So before you spend your next sentence reading this article hating on it with some trite “lazy millennial’s guide to getting rich” rebuttal, hear us out. Getting rich doesn’t necessarily mean becoming an obnoxious trust fund kid who owns seven houses and a private jet. If anything, being fabulously wealthy means being content (and comfortable) with your financial situation. We get it: Being broke sucks! But becoming prosperous isn’t about pennies or pounds—it’s about the little things that add up in your favour. Get Rich Without Really Trying

Just remember: You are worth more than what you own.

Being rich is about having your finances in order, not about how many Bugattis you own. When you get rich, you don’t become rich because of what you own; you become rich because of what you have learned. More importantly, you become rich because of how you are able to manage your money. What is your net worth? How much are you worth? What is your net worth, after accounting for your debts? Being rich is not simply a matter of having a large bank account. It is a matter of having your finances under control.

Pay yourself first.

Odds are, you understand this concept intuitively. But do you actually do it? If you want to get rich, you’ve got to make your money work for you. And one of the easiest and most effective ways to do that is by making sure you’re paying yourself first. What does that mean? Basically, it means taking a portion of your earnings and setting it aside for savings before you do anything else with it. Basically, you save first and spend what’s left over. The reason this is so effective is because it helps you build up your savings account with compound interest. The sooner you start saving, the less you have to save. Compound interest is one of the greatest forces in the universe.

Automate your savings.

What happens if you don’t pay yourself first? You end up spending the money you’ve been putting aside for savings. That’s why, even if you pay yourself first, you still need to automate your savings, so you don’t spend the money you’ve saved. You’ve heard that saving isn’t easy. But saving automatically is. All you have to do is set up an automatic savings plan, so your savings are taken directly from your bank account and sent directly to your savings account before you ever see it. You can set up automatic savings with a tool like Acorns or you can link your savings account to your bank account and set up automatic transfers.

Get a side hustle.

If you’re just starting out, you probably have a big student loan debt load that keeps you from saving a lot of money. Or perhaps you’re just starting a family and have a ton of expenses. In either case, you might feel like you don’t have enough money to save. The good news is that you don’t have to save a ton of money to get rich. You just have to start saving now. It’s better to save a little bit now and build up your savings account than to save nothing at all. One great way to start saving money is to get a side hustle. The great thing about side hustles is that they usually don’t take a huge amount of time. If you can earn a few hundred pounds extra a month, that’s enough to start saving. As your side hustle grows, you’ll have more money to put into savings.

Go to school and accumulate degrees.

One of the best ways to get rich is to get educated. Education is one of the most reliable wealth-generating assets you can own. The more advanced degrees you have, the more money you can make. And advanced degrees (like a PhD or JD) can increase your income by tens of thousands annually. But even if you don’t want to go to graduate school, a bachelor’s degree is worth millions of pounds in lifetime earnings. Getting a degree is one of the best ways to get rich. Not only do you learn useful skills that can help you advance in your career, but also you can use your degree to get scholarships and grants. And you can use those scholarships to pay for part or all of your tuition.

Invest in real estate.

Another great way to get rich is to diversify your savings (and investments) across a number of different assets. One of the most common and reliable ways to do that is to invest in real estate. There are a number of different ways you can invest in real estate, from buying rental properties to investing in syndicated real estate funds. The best part about investing in real estate is that it’s a fairly low-risk investment. And as long as you keep your investment diversified, it should remain fairly low risk. Real estate is a great investment, because it allows you to earn both cash flow and capital gains. You can either rent out the properties or sell them at a later date.

Inheritance is key (but don’t wait for it).

If you’re expecting to inherit millions of pounds from your rich uncle, the best way to get rich is to stop reading this article right now and go do something productive. But if you’re waiting to inherit millions of pounds from someone, it’s probably not going to happen. You’re much better off actively pursuing ways to earn money on your own, so you can get rich on your own terms. That way, when you do inherit some money, you’ll have your finances in order, and you can put it to good use. The best way to get rich is to earn it. And the best way to earn money is to be prepared to work for it. That doesn’t necessarily mean you have to become a doctor or a lawyer, but it does mean that you have to be prepared to work hard at whatever job you have.

Conclusion

Getting rich isn’t really about how much money you have in your bank account. It’s about how you think about money and how you manage your finances. If you want to get rich, you’ve got to pay yourself first, automate your savings, get a side hustle, go to school and accumulate degrees, invest in real estate, and finally, be prepared to work hard at whatever job you have.

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