“Someone’s sitting in the shade today because someone planted a tree a long time ago”

Yep, I know what you’re thinking, “Who the fuck is this guy, what does he know?”…… How can he tell me how to become rich fast when he’s not rich himself. What a naive 22 year old. Fuckin’ hypocrite right? See the same broke people will say this shit too when they’re in their 40s. Trust me on that. A fat guy can talk about how to get skinny and he can be entirely accurate doesn’t mean he’s going to put in the work to get skinny. Same as those broke 40 year olds, they just didn’t put in the work. So listen up!

(On a side note, make sure to check out our podcast on investing! – A like and subscribe would be much appreciated too!)

Let me let you in on secret, the media has made you think that you can become rich fast. The truth is you can”t. It takes patience, consistency, hard work and a very emotionally stable person. You can become rich fast over the long run if you follow the steps I’ve laid out below. To get rich, you’ll need to set yourself on a path that leads to a monetarily enriching career, then handle the money you earn wisely by investing it, saving it, and reducing your living expenses. Getting rich isn’t easy, but with a little bit of perseverance and skilful decision making, it’s definitely possible.

Steps To Become Rich Fast

1.  Invest In Yourself –

This is the most important starting point. And it’s true what they say, “the more you learn, the more you earn”. Your mind is your most important asset. The more skills you develop the more you’ll be in demand. The best advice I can offer you is to learn to monitize your hobbies. If you play guitar teach grinds, teach a class on Udemy, set up a little guitar business online, youtube vids… think of every single way you can make money out of playing guitar.

Ok, maybe you’re not a musical person, maybe you’re good at french? Give grinds, translate letters for people on fiver, write a french blog, give french lessons on youtube… theres endless possibilities for you. That’s the beauty of the free market. If you want to make money, you need to do something that can add value to someone else’s life. The more value you can add, the more money you’ll make. Simple.

This is where the money comes in and finding capital is the hardest part. Theres many things you can do to help multiply your money but getting the money is the hardest part.

So how can you invest in yourself

You can do anything! But not everything! So find something you enjoy and stick with it, become a master at it, constantly be learning and then teach it to others.

2. Don’t Buy Shit You Don’t Need – 

We’re a generation fixated on compulsive consumerism. That spur of the moment shit where you’re like “treat yo’ self” is killing your future-self. You might not have a lot of control on how you can make your money but you definitely have control over where you lose it. If you’re an impulse buyer this behavior will wreck your dream to become rich fast. If you keep buying stuff you don’t need (especially if it’s on credit) soon you’ll have to sell the things you do need. Only buy things if it will add value to your life or as Gavin puts it, increase your base-level happiness over the long run. Mark Cubin puts it brilliantly, “Live like a college student”.

So how can you improve your spending habits?

  • Buy stuff that adds value to your life. The Minimalism Movement will help you understand what will bring value to your live, highly recommend you check it out!
  • Wait for the sales! You might seem like a scabby prick but being patient and waiting for the discounts is how you get real savings in your pocket.
  • Negotiate price when you can! Again, it’s more savings. (Theres a brilliant book by Chris Voss called “Never Spilt The Difference: How to negotiate as if your life depended on it.” Check it out!
  • Buy in bulk! If you can get two years worth of toothpaste you’re saving money because inflation shows prices only go up. So lock in that price now.
  • Budget! Don’t save what’s left after spending. Spend what’s left after saving.

3. Investing – The Real Money Multiplier

become rich fast

If someone was to ever ask me directly how to become rich quick I’d tell them by compounding. However, theres one thing we must understand, we’re all governed by time. Most of us when we need more money will sacrifice time and pick up a second job and continuously give up our time for money. This breaks my heart when I hear this because time is the one thing you will never get back. This is important to understand don’t work for money get money to work for you. Recently I watched a brilliant video by Grant Cardone on property investing and in it he quotes “rent where you live and own what you can rent”. Why?

First of all, you’re not committed to mortgage payments. If you lose your job it’s ok the bank isn’t going to take your home if you miss payments. When you rent what you own someone else is sacrificing their time paying you rental income to pay for your rent. This is a perfect example of getting money to work for you. When I put money into stocks I earn capital gains and dividends. Most of the stocks I pick return 10-15%. Off a €3000 euro investment this is say €300 euro. Stocks have just paid for my phone bill payments for a full year. I don’t have to work overtime to pay for my phone bills. See?

Trying to find an income for every expense you have is the aim of the game. It’s not trying to beat the market. Or become rich fast. It’s trying to get back your time by finding extra money that will pay for your expenses so you don’t have to work to pay for them. That’s called getting out of the rat race. The rich never say I can’t afford it. They always say how can I afford it.

So how can you start multiplying your money?

  • Save up – I like to have a cushion of at least 6 months – 12 months income saved. A years salary. This way if I decide to quit or travel or if I lose my job, I have money to cover me for a year. I’d keep most of this money in government bonds, high interest savings accounts or reserve currencies.
  • Index funds – Most of my long term savings (10+ years) goes into index funds. Index funds are essentially the entire market (you own a bit of every business). This will crash and boom through out the years. Never sell in either instances until you absolutely need to. Dollar cost average will grow your money in the long run. Study up on index funds. Vanguard would be the leading institution to find out more on them.
  • Portfolio construction – This is breaking down what you have saved up and allocating various amounts to different types of assets. I’ll do an article on it soon for people interested.
  • I can’t speak a lot on this because I don’t have much experience but I have talked to a lot of people that do and that’s property. I did own a couple of REIT stocks but that’s as far as I go in the property game. When I get into it I will write about it. Check out Grant Cardone or Robert Kiyosaki in the mean time to find out more.
  • Flipping stuff – this is the best place to begin on investing. We did an article for you broke ass college students on how you can make more money by flipping stuff. Make sure to check it out.

4. Stay Out Of Fucking Debt

become rich fast

Back in 08′ nearly everyone would buy shit on credit. And the big banks stupidly lent it out because they could off-shore there debts to unwise investors. But unfortunately the free market came knocking and a lot of people lost their stupid shit they bought on credit. Be patient! Save up for things. Regardless of what you may think, some stuff you don’t need instantly. Wait till it goes on sale. If you haven’t got the money, you haven’t got the money. Simple. No point in paying 6 months interest for a couch. Plan your purchases ahead of your decisions. This is called budgeting. Not only that but going into debt means you’re contractually bound to make those payments. You don’t want that. Stay out of contracts as much as you can. They’re bad for ya.

Your goal here is simple.

  • Get out of debt
  • Stay out of debt

5. When You Get Rich…. Stay Rich. 

become rich fast

You might of heard the saying before “It’s easier to stay in shape then to get in shape“. Making these adjustments are hard but they’ll pay off in the long run. Always keep the long run in your mind. I think you get it now that theres no way to become rich fast. It’s like 6 minute abs. Anytime you see someone selling you something like “Become Rich Fast” tell them to fuck off. Doesn’t happen. The only way you’ll become rich fast is by following the steps I’ve outlined above. Stick to them and you’ll be there in no time. Staying there though is a challenge in itself also.

Theres two important rules you need to remember in order to stay rich;

  1. Never lose money
  2. Never forget rule number one

That means keeping your costs to a minimum, spending money on things you need, staying out of debt and maximising your profit. Don’t get greedy when you begin to see your money rise. Remember how hard you worked for it.

I hope this is of value to you. These are the most important principles I’ve learned so far. Theres no way to become rich fast but over the long run you definitely can.

SJB & GQ

*DISCLAIMER* – I’m not a financial advisor nor am I offering financial advise in anyway shape or form. Nor is anyone associated with this website financial advisors or offering financial advise. Financial advise should be sought after by a qualified financial advisor. Everything here is purely for educational purposes.

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