A million-dollar question, and believe me, how to become rich with little money - this question people asked me a few times before. Another popular question is - how to become rich with no money, and it has become more common, and I will explore this topic and give you a few tips.
Why do I need this
Before we discuss the actual topic of how to become rich with little money, let us think about why people want it.
In the last few years, I mean this question has been more popular than before. In my opinion, social media are growing very fast, and almost everyone has internet access. We see every day how influencers on various platforms show off the affluent lifestyle, and of course, it's very tempting to have the same.
If you think about how fast technology progress is moving, it is scary sometimes. Life seems to move faster, too, for me anyway.
I respect time more now. I had a lot of self-reflection during my time in lockdown. That's another story, and I am sure we will remember those times forever.
I have researched actual numbers, and it is eye-opening for me.
The real story and the sad truth
I worked in hospitality and asked a few team members, How much money they needed to stop working and don't need to work for the rest of their lives? I gave them some time, and the answers were eye-opening for me. I realise why some people are never going to be rich.
Some people say they need a billion dollars before considering quitting working.
Remember, those people are working for minimum wage, and the most they get in the year is 15,000 - 20,000 a year.
It will take 50,000 years to get to 1,000,000,000 - OMG, that's crazy.
For example, if we take 1 million, it's a more realistic number.
It takes 50 years of working for 20,000 a year to get to a million, but remember living expenses and taxes. So chances are, the majority of people will never be a millionaire in their life if they are working on a low-income job, don't have other sources of income and do not invest in something to grow their revenue.
Why did I mention this story? If people don't know how much money they need or at least don't know the basics, they won't get far, in my opinion.
What are my options?
There are few options on how to become rich with little money. But the question needs to be more specific because for some few thousands is a little and for some few hundreds is a lot.
I am going to keep it brief and explore a few options.
Let's think I have a few hundred dollars to invest in some project.
For example, I cannot open a physical business like a store/hotel or restaurant with that kind of money.
I need to think of something a bit more like an online business.
Yes, it is possible to open it with a few hundred dollars.
Most effective, profitable and easy to start is affiliate marketing.
Company X have a product to sell, and it costs $1000
They are willing to give 20% to everyone if the product is sold via their recommendation.
Company X gives me a link to their product. I advertise it on my website. Customer clicks on it. Purchase the product.
I get 20%, or $200.
Great, isn't it.
It's that simple; believe me, it's not that complicated.
Millions of companies out there are willing to pay you a lot of money as long as you advertise their product. And it's in your interest to advertise more.
The potential income is unlimited.
Where to start?
If you want to start right, I would learn the basics first and look at people who already make a living with affiliate marketing.
Check out this free training to learn the basics.
If you think long term and want to set up a successful business. Learn the basics first.
Once you know where to start, your few hundred, which you had initially, can shoot your business up quickly if you spend it promoting your business.
Suppose you ask any successful person who became rich with little or no money to start with. They will tell you; you need to work hard to make it work. Do not rely on luck and do not believe in getting rich quick schemes.
How do they work?
If it sounds too good to be true, it probably is.
The only people who will become rich are the people who are selling these schemes.
Do not gamble with your hard-earned money. There are millions of programmes and books online on making millions in 7 days and other rubbish.
Meme coins in the crypto world are another excellent example of taking people's money from them. Thousands of people are getting scammed every day in this relatively new industry.
Do not get me wrong, there are real projects with real potential future in crypto, and I am learning about it. Please read this if you know the basics about it.
How to become rich with little money? Invest it in your education learn the business models at the market. Know your numbers. Set a goal, break it down and work for it every day.
It might sound easy, but to be honest, it is easy. Ask any wealthy person, and they will tell you. It is easy to make money. What's not easy is to change your daily habits and become disciplined.
There are too many distractions everywhere, and we lose focus. That's very important if you want to achieve something.
You need to know your destination.
Start with why.
Ask yourself daily:
In the Morning - What will I do today to get closer to my goal?
In the Evening - What have I done today to get closer to my goal?
If you make it a habit - you will change your life in no time.
Good luck with your journey!
Thank you for your time, and I hope you found this article helpful; if you have any questions about it, please leave a comment below or feel free to reach out to me on the contact us! Page.
Have a fabulous day.