7 fastest ways to become rich with no money
It’s very possible to become rich with no money at all because looking at the brighter side, most rich people started with nothing, absolutely no money and worked their way up there to making millions that they now take home either monthly or even daily.
A millionaire is one whose network is greater than one million units of the local currency. Money gives you so much freedom and leverage.
Who wouldn’t want to be a millionaire?
Making millions, billions or even trillions is something everyone would want to make, who doesn’t like money! No one, but most people are not going to because becoming rich requires a lot of effort.
Credit Suisse’s global wealth report states that there are 46.8 million millionaires worldwide(measured in USD) and 18.6 million individuals living in the United States are millionaires indicating that 7.6% of the US adult population are millionaires.
After the US at 40%, other top countries with more millionaires are China 10%, Japan 6%, United Kingdom 5%, Germany 5%, France 4%.
To be a millionaire(in USD), you are going to be part of the 0.6%
Are you ready to be amongst the top 0.6% of the world’s population?
Here are the smartest and fastest ways to become rich with no money
1- Start A Saving Habit To Become A Millionaire
Saving is the act of keeping something aside, especially money or valuable items to use for the future.
Savings used in this context is money or valuable items like gold, diamond and other valuable elements worth keeping.
For one trying to create or maintain wealth, savings is really important because you need wealth to be able to multiply wealth.
Keeping a healthy saving habit is great if you want to become a millionaire. To be able to maintain a healthy saving habit, you would need to
- Write down a scale of preference for your needs and wants
- Write down the percentage of every take the home income you are willing to save
- Put down strict rules about your savings
- Use an app like piggyvest to save money and also earn interest just from saving
- Write down how you will get the money to save
2- Start An Investment Habit To Become A Millionaire
We all at one point have heard about the life of one of the world’s current richest men Warren buffet and how he increased his wealth from thousands to millions and now billions all from investing. He started investing at age 11 and made his first million by running a hedge fund in 1962.
Investing is a sure means to become a millionaire and you can only invest(buy shares, stocks, mutual funds, agrotech, real estate, cryptocurrencies, gold and other hedge funds ) with money and valuable items.
As a beginner in any area, it is always advisable to seek professional knowledge about anything you want to venture into, and it is no different when it comes to investing.
For beginners, you can start with lower risk investments and then proceed to medium risk and high-risk investments.
For example, you can go from bank fixed deposits to mutual funds, shares, equity and then proceed to medium risks like agro techs, a high-risk investment like cryptos.
It is always advisable to diversify your portfolio while investing because some companies thrive more than others thereby making more profits for you as a shareholder or giving more dividend benefits and most times, you wouldn’t know which one would supersede the other when it comes to growth and profit, so it’s best to diversify your portfolio.
Why Should You Invest?
Investing is a great way to amass wealth and become rich. With the right steps and right guidelines from professionals, you are sure to become wealthy from investing.
When Should You Invest?
The moment you have your needs, emergency funds and a few of your wants sorted out, it is advisable to invest the rest. Normally people divided their income into the 40:20:20:20 rule, with 40% being for their needs(important bills), 20% being for an emergency, the other 20% being for wants and the final 20 % being for investment.
After you have taken out the amount slated for your needs, emergency funds for emergencies, you should invest the rest. The amount split always differs from individuals, their bills and how much they earn.
3-Always Look For Means To Increase Your Income By Starting A Side Hustle TO Become Rich
With inflation increasing by even the lowest percentage in a lot of countries, one stream of income is not enough for one striving to gain or maintain millionaire status.
The same way you diversify your investment, you should also diversify your means of income by adding other side hustles that would help you become a millionaire
I wrote an article where I listed out 90 side hustles one can start and become rich with no money, you can read it HERE
4- Have A Solution-focused Mindset To Become A Millionaire
Being a solution provider is a constant way to generate wealth. As long as you are constantly trying to provide solutions for either a particular problem affecting different people or different problems affecting different people, you are bound to always stay relevant and make money from the solutions provided.
Having a solution-focused mindset helps you look for opportunities in different social problems and you can become a millionaire with no money from providing solutions to those problems.
6- Network Your Way Into Better Circles To Become Rich
Networking is the process of interacting with other people to exchange information and develop professional or social contacts.
To be able to become a millionaire with no money, you would need to network and socialize with people willing to buy your products or order your services and increase your income. Not just ordering your products, people in those circles can also give you insights on how to get better products, more reach, employ better people, get better bargains e.t.c
7- Get A Mentor To Become A Millionaire With No Money
Having a mentor is an important step in becoming a millionaire with no money.
Who Is A Mentor?
A mentor Guides less experienced or inexperienced people on a path by building trust or showcasing good behaviour.
To be able to move forward in life or move your finances forward and become a millionaire, you would need to be a mentee to one who is already a millionaire and follow their guidelines to thrive.
What Online Jobs Can Make You A Millionaire
Aside from the fact that online jobs are the new thing and almost everyone is deciding to go online with everything, there are so many online jobs that can make you a millionaire. From blogging, starting a YouTube channel, selling on Etsy stores, become a social media influencer, affiliate marketing, designing of any kind e.t.c All these latest and trending online jobs that can make you a millionaire are listed HERE
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