How To Become Rich From Nothing In 2 Years
People spend years searching for how to become rich from nothing, trying everything that they can to get rich as fast as they can.
We all want to be rich, want to wear nice clothes, travel to exotic places, spend time with family and friends and even do what we love and most of us want to do all these while making money in the process.
We all wish that we didn’t have to spend half of our life time working, to enjoy it only after we reach the retirement age at 65.
Meaning that we are spending more than half of our life span working.
Make Your Money Work For You, Or You Work For Money For The Rest Of Your Life.
– Jae
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How To Become Rich From Nothing In No Time
1. Change Your Money Mindset
Most people are poor not just because they don’t have any money
But also because they they are close minded, they see money are something that is so difficult to come by and must be managed to solve most of their current problems
While this might be true,
Seeing money in this way almost attaches a negative aura around it, when you think of money like that,
You think you simply can’t ever have enough to change your situation
You continue to make poor decisions all in the name of living your best life while managing what you have..
To solve this problem, you need to look at money as what it simply is…
A game…
It goes to whoever understands it the most and knows how to use it better
And you can become that person by simply changing how you think about money.
2. Create A Financial Plan For Yourself
Planning is very important, if you are to become rich in the time you wish….
A plan must be made to act as a roadmap to where you are now and where you simply wish to be financially..
What do i mean?
When you think of becoming rich, you simply imagine yourself having loads of money and picturing yourself eating what you wish and living in an awesome mansion.
But thats all it is…
An imagination
Creating a financial plan shows you, where you are financially right now, how you can use the money you have right now to improve your financial situation and changes you need to make to reach your financial goals.
Be very specific in your plans, create short and long term financial goals and break those goals into smaller achievable milestones that can be achieved daily.
You can use applications such as Notion or QuickBooks to track and manage your finances.
Also ensure that you are disciplined and consistent enough to follow through with them.
Without a plan, you simply dream…
3. Master The Habit Of Budgeting
How many times have you spent money and realized at the end of the day that the money is finished and you have no idea what you spent the money on?
It happens to a lot of people….
Now imagine repeating this month after month, what’s the result?
A budget is simply a list of things that you need to get you though a certain period of time example a month or a week using a specific amount of money.
Why use a budget?
The answer is simple…..
Without a budget, you spend on impulse, buying things that you have convinced yourself that you need when you really don’t.
A budget keeps you on track, It is one of the smartest ways to manage your money.
It keeps you informed on what needs are important and which ones aren’t,
To help you properly maximize your earnings.
4. Live Frugally
It is possible to budget all your income and still be broke…
If you keep spending your earnings eating out, taking fancy staycations or buying nice things at the mall.
You won’t be able to make your money work for you
Prioritize your spending and budget things that are absolutely important…
Take advantage of shopping promotions or sales and coupons to make sure you are getting the highest possible vale for your money when shopping.
You can even go ahead to sell things that you no longer use to get a bit more money.
It’s okay to go out once in a while, but when you do, make sure it is planned for….
Living below your means can be a really great way to improve your finances and get you on the way to achieving your financial goals.
5. Diversify Your Income Streams
When your goal is to become rich…
Then you find that you can no longer depend on just one source of income anymore
You need to create more sources of income to help to achieve your goals faster…
It can be anything from starting a side hustle or business, real estate or stock investments or even working part time.
Anything to help boost your income and improve how much you pull in a month.
While this is important,
Keep in mind that get rich quick schemes are totally no worth it,
You might end up loosing all of your hard earned money in one fell swoop.
The advantage of having several sources of income is so that in case one income source is lost along the way,
You can still depend on your other income sources till you get back on your feet.
6. Improve Your Current Income
In your journey to become rich, you want to make sure that you are leaving no stone unturned..
Even at your current job…..
Don’t settle, look for a way to move up the position at your workplace,
It can be asking for a raise or a promotion or even taking courses that make you eligible for a new and better position.
It helps to ensure that you are earning as much as you should with the skills you have.
7. Invest Your Money
Instead of leaving your money in the bank, get your money to work for you..
You can learn about different types of investment opportunities that might be suitable for you depending on your knowledge on investing,
Investing your money,
Puts your money to work and gives you a chance of improving your finances without actually doing any hard work,
There are so many investment opportunities available these days, some of them are:-
- Multi-National Company Stocks
2. Multi-National Company Bonds
3. Real Estate Crowdfunding
4. Small Business
3 Things That Will Stop You From Becoming Rich
1. You Have No Financial Plan
The first factor to consider in your quest to discover how to become rich is and always will be – planning and goal setting.
I know, i know, you are probably going to say,
We’ve heard this before, planning, planning, planning!”,
I know you have heard it a lot but here’s me saying it one more time just because you need to hear it again.
Things like this require a plan, you see, people who really know what they want in life are people who have plans.
These people have taken out the time to plan how they spend their time, they have schedules
They have responsibilities all organized into a clean planned sheet, each step everyday brings them closer and closer to their end goal.
Planning is simply the process of thinking about the activities required to achieve a desired goal.
It is the first thing that you need to do if you want to start seeing the results that you desire.
Just like an architect needs to draw up building plans before a house is built, you need to draw up a plan for what you want, otherwise,
Imagine how the house would look if the architect just went with what he had in this head and made the rest up along the way?
If you are reading this, its because you don’t like the financial situation you are in and you would like to change it, and this brings us to the next most important factor – Discipline.
2. You Are Not Disciplined Enough To Stick To Your Financial Plan
Planning is nothing without discipline, in other words, what is the use of making a plan if you cannot stick to it?
Discipline to me is a test of how badly you want what you want,
It is the simple act of removing the “choice” in a plan, so that instead of “should i do it”, it becomes a matter of “when do i do it?”
Discipline is the part of getting rich where majority of people give up or even convince themselves that they made a mistake in making the plan in the first place.
Your wishes are not going to come to pass until you do something about it,
You can remain stuck where you are going to bed picturing yourself being rich and living the life that you want,
But you always wake up to the reality of your 9 to 5 job.
Making a plan to get rich and sticking to it is a recipe for success,
Discipline is doing what needs to be done, to get to where you need to be, regardless of if you feel like doing it or not.
You need to make a plan and be disciplined enough to stick to that plan and put in every action possible to get a reaction,
The total of these reactions over time is what gives you success, it is what makes you rich.
3. You Are Not Consistent With Your Financial Plan
There is no success without discipline to follow through with a plan,
Consistency is making an effort to follow your plan while improving on it.
Lets take a quick question, ever imagined what would happen if Mark Zukerberg had stopped coding in school?,
Or just code today and then code in the next 20 days after that and maybe even give up because he didn’t think he didn’t think he made the right plan?
Do you think there would be a “Facebook”? , let’s talk about Amazon, I know a lot of us to love to get our Amazon orders ASAP,
hence the prime membership, yet,
Imagine if Jeff Bezos gave up on building Amazon just because he ran into road blocks,
Do you think you would get that precious order of yours delivered on the same day?
Consistency is what determines if the first two factors i talked about pay off or not, it is the “cement” that binds your foundation to becoming rich.
Takeaways
Learning how to become rich from nothing can be the hardest thing in the world but it doesn’t need to be
The main difference between being rich and being poor is the possession or lack of a “Consistent & Disciplined Plan”
You are going to remain where you are right now except you decide to take action.
To discover how to become rich in whatever business you are interested in, you need to create a plan to get you out of your current situation,
Defy all the odds and obstacles that are meant to stop you from going through with that plan through discipline and most importantly, stick to your plan by being consistent and be sure to improve on that plan.
To Become rich, you need to :-
- Change Your Money Mindset
2. Create A Financial Plan For Yourself
3. Master The Habit Of Budgeting
4. Live Frugally
5. Diversify Your Sources Of Income
6. Improve Your Current Income
7. Invest Your Money
3 Things That Will Stop You From Becoming Rich Are:-
- Planning.
2. Disciplined Enough To Stick To Your Plan.
3. Being Consistent With Your Plan.
Absence of these 3 factors in your life, will leave you where you are, still going to bed every night and seeing yourself doing things that you can’t do in reality, wasting time,