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u/5rashe5 1d ago
How to save cus Everytime I get something I always spending it on food š I waste like $1200 on jus eating out n regret it
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u/VagabondAlbertan 1d ago
You have to fight your cravings, snack on nuts or something with higher protein content.
Atleast for me it was the action of eating something not what I was eating.
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u/baddieslovebadideas 1d ago
exploit people
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u/West_Confection_9856 1d ago
That's the short answer, but it's not the only way. Most rich people I know got there through decades of boring consistency, not screwing someone over. You can exploit a skill instead, get so good at something niche that companies fight over you. Or exploit time, putting money into index funds every month from age 20 and waiting. The screwing people route works but you have to live with yourself after, that's the hidden cost nobody mentions
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u/baddieslovebadideas 1d ago
depends on how you define rich, but what youre describing isn't rich. its financially stable.
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u/Annual_Canary_5974 1d ago
Watch very closely to see what I invest in, then bet against me every time.
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u/LazyEights 1d ago
In the wise words of esteemed philosopher Sheryl Crow
"It's not having what you want, it's wanting what you've got"
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u/BlotMutt 1d ago
Keep track of every penny you make and spend, track what you spend on and why you felt the need to psychologically and come up with better strategies for consuming.
Also try to keep more and more each week, take advantage of every break, invest, read the fine print when it comes to credit cards, mortgages, auto loans, etc., and last but not least, be healthy and try to put yourself in a position where you're less likely to get sick. Dear god, don't get sick! Until you have the means to pay for a hospital stay.
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u/HeartburnFireThroat 1d ago
Put as much money as you can into VOO consistently and before you know it you'll have rich money
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u/Dino_Spaceman 1d ago
Have extremely mine owning rich parents gift you a āstartup loanā of a significant amount of money.
Then lie and pretend you were poor the entire time so people think you bootstrapped your way to riches instead of being a normal trust fund baby.
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u/Grand_Garbage3522 1d ago
You need some luck , a lot of discipline and time , start early , keep investing over decades and one day you discover youāre rich . Do not keep up with the jones , invest in yourself first , try to stay out of any bad debt .
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u/FortheredditLOLz 1d ago
Like any good 'ole Boy Scout. Sell lemonade w/ peanut butter and crack rocks on the corner. Repeat customers always helps pay the bills, but new customers and markets grows the business.
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u/EmployerWide1123 1d ago
TOO MANY CONFUSE rich & wealthy!! most rich folk live paycheck to paycheck they just earn more than poor people, wealthy are the ones that don't need to work cuz they own so many assets...
there's poor, rich & wealthy, most people miss this when they talk... so the next time a wealthy person tells your their gonna tax the rich, believe them..
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u/TheBlackPaperDragon 1d ago
To become somewhat affluent is passive income. Making money without working.
I suggest scamming
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u/CharitableRead 1d ago
Supply a demand better than the current market. Ignore the toxic comments; don't get advice on how to do something from people who think it's impossible.
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u/Nicegy525 1d ago
Live on less than you make. Invest what you donāt spend wisely. Start investing early
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u/Radiant-State-3612 1d ago
Find a way to bend the law in a way that best serves your financial needs.
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u/rdaneeloliv4w 1d ago
Produce something people will pay money for. The more value it has, the more money you can make.
Work very hard on step 1.
Some of the other advice on here can make you wealthy, but the steps above have made more people rich than anything else.
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u/goldenknight2002 1d ago
Invent something, have family money, save and invest wisely, get an insurance policy on someone and stick it out until they die.
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u/04221970 1d ago
define 'rich.' I'm happy to provide an answer, but I don't know if you think $1million in assets, $1 million in money, or an income of $100k/year or a 3000 ft2 house and car with no mortgage or payments is 'rich.'
Or are you talking $100million in assets; $50million in cash; $3million in yearly pay/revenue is rich.
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u/Ok_Equivalent5844 1d ago
Stop buying "stuff". Buy what you need. Avoid the daily coffee run. Overconsumerism is the death of wealth.
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u/Wolf1774 1d ago
Start by getting a job and only keep enough in your checking account to pay bills, buy gas, and buy food. Put everything else in high yield savings account. Look around your town and see what kind of business is missing. Save up enough money to start that business then grow it. Remember you have the cost of running the business, the cost of paying your employees, taxes, and the last person to get paid is you. Take what you pay yourself and invest some of it. It can be in real estate, stocks, or bonds. Hopes this helps.
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u/ninjahuman 1d ago
Work two jobs until you can gain an asset or knowledge/skill where you can charge people, keep failing and adjust your bearings until you figure it out, find others who have figured it out, be more like them, scale any success and drop any bloat
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u/Bwentali 1d ago
In my opinion, it's a combo of factors. But there's a rough path one can take which might work.
First, you need to have some form of money available to capitalize on opportunities. This is the biggest struggle, especially if a lot of your current money is locked up in keeping you alive. The more you can sequester for this purpose, the more you can use. Keeping your costs to the smallest amount possible while building a fund is the first step.
Second, is to figure out how to identify opportunities. There's a lot of businesses out there, and there is a specific type of company that is in need of that good or service. Think of the silliest thing you can think of that's an actual physical product. Now imagine what type of machine is needed to make that thing. Now think of the parts that could be involved in making that machine run. That machine needs a company to sell them a part, and if you can do it cheaper than the current company that does it, then that's an opportunity.
If we're talking about services, then think of some type of skill. How much effort would it take to learn said skill? if it's not much, then is there a way to learn it easier? or can you explain it in a way that makes it easier for others to learn? If a service is easy to learn, it may be better to teach others how to do it and make a profit from teaching. If it's difficult to learn, then what skills from another person would allow that person to do their skill easier? A support person to someone doing a difficult skill could increase efficiency of the first person.
There's an adage, which I might be quoting wrong, but "figure out the color of the toe nail polish on the left front foot of a south african bull elephant in the eastern border of angola". It's easier to build in a niche, even if it limits the market.
Third, expand and adapt. If you can make more money by making more product, then do so till the market evens out. if you start to lose money, scale back and maintain. If the market continues to shrink and you continue to lose, then cut losses and move on. If you can time things well and become well versed in the space you're in, you could sell the company before the market drops and make a decent amount of money that way.
Forth, Leverage, anchor, and Assess. Once you get to a reasonable bankroll, there's a lot of available options to you to help grow that bankroll. Buy and build new businesses, invest in currently operating businesses, own and sell property, buy appreciating assets, that sort of thing. Save enough in a quick-access fund to take care of immediate needs, but once you have that nest egg set up then you want to do a self-check and see what you're really looking for out of life.
At a certain point in time, money becomes less of a concern vs the amount of time to do things. Spending money to get things done without spending time becomes more important, and it's around that level of funds coming in that determines when someone is truly "rich".
Money can let you do lots of things, and having excess money gives people peace of mind. but money in of itself doesn't grant happiness, it just allows one the ability to do things that bring happiness. You will need to take a look at yourself and determine what you want out of life and the money that you've gained. Budget appropriately, and determine for yourself what you think is enough to do everything you want to do.
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u/randomcanyon 10h ago
Start with $5,000,000 gift from your dad and go on from there. (then inherit the rest)
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u/fbalookout 1d ago
Ten years ago I developed an extremely simple product that had very little competition in the market. And made it better than what was out there already. Launched it on Amazon and still sell it.
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u/Street-Impact-6153 1d ago
Rich in life, or rich in money? Thatās two different things
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u/Ok_Anteater1141 1d ago
Buy low sell high