For how many years, we have been grinding to survive and meet our basic needs, feed some mouth, and buy what we want within our means. Early in the morning we’ll get off to work, do our job, wait for our salary, pay bills, and treat ourselves if there are few bucks remaining in our pockets. These became routinary and we became comfortable in this lifestyle. As long as we are earning just enough to keep the wolf from the door, we will be fine. We have been working our fingers to the bone but we are still in the same place because all we want is to simply survive when actually, we could go extra mile and start earning more to increase our income’s figure.
Although we see it as something ambitious, probably majority of us are wanting to get rich. It’s almost everybody’s dream yet it is not so easy to achieve most especially if we just have started shaping our career in our 20s. However, we often underestimate what could we do at this point of our lives where our energy is boundless and our drive to take risk is solid. This is the best time to start moving the ladder up to get rich before we reach 30 through these 15 hacks. These may sound a bit painful and make you hold back some of your delights, but everything will be worth it as you drool over that six or seven-figure mark on your passbook after some years.
1. Act as if you are poor
Purchase cheaper but quality items for your clothes, houses, equipment, appliances, and other supplies and forget about brands. If you want to buy something that you can completely live without, simply consider yourself as poor as a church mouse. This serves as one way to discipline yourself when it comes to spending.
2. Save money until it hurts
So what if saving feels like a punishment because you are forcing yourself not to shell out money for something unnecessary? Your pain will turn into gold and as you look back you will thank yourself for your patience.
3. Do not try to blend in
If you are seeing your friends flaunting their travel goals on social media, or you see how extravagant their life is, do not be pressured to get with the ‘hype.’ Always keep in mind that you have goals, and that is to become rich and not to show off.
4. Learn to say ‘no’
You do not always have to buy products offered by your friends most especially nowadays that there is no one who doesn’t have a friend who is an online seller. Not only you could say ‘no’ to your seller friend but to flash deals, big sales, and low price offers as well.
5. Spend within your means
Do not exceed your expenses with what you could actually afford because it will hinder you to save more or worse, you will tend to borrow money because you fail to oversee what your income could only cover.
6. Invest in yourself
You yourself has the biggest responsibility for you to be rich before 30 and it is about your capabilities, skills, and knowledge that you have to successfully execute plans. You could invest in yourself through reading books about finances, watching documentaries of rich people, educating yourself, attending seminars or webinars, and talking to successful people.
7. Improve your mindset about money
Refrain form thinking that saving is only for well-off people because no matter how much you are keeping, as long as you consistent to achieve your goal, then nothing is impossible. Savings is easier said than done but remember that there is no shortcut in achieving one of the best things in life.
8. Generate more income
Buckle up because you will be needing not just an 8am to 5pm job but also a side hustle to generate more income. It could be a work online from which you could use your skills such as writing, layouting, illustrating, painting, copyreading, and many other options that you could choose from. You may also look for jobs as a visual assistant because there are some offers that will fit your schedule while you are at the comfort of your own home.
9. Invest on stock market
Investing on stock market could be a bit frightening most especially if you do not have an idea how it works and with all the threats looming on the Internet but once you understand this collective investment, you will realize how you could also generate funds from it. This is a wise investment and more young people are being engaged with it.
10. Diversify your investments
Do not rely on just one investment if you want to get rich because once you fell down into catastrophic loss, it is hard to start over again and establish an investment. Unlike having diverse investments, you will have number of ways from where you could generate income which gives you a higher return.
11. Take more risks
We are too young and we are not likely to lose a lot if we will be taking risk so be brave enough to leap out of your comfort zone and start grinding. We will go nowhere if we will always be hindered by ‘what ifs.’
12. Create your budget and follow it strictly
The best way to track your expenses is through creating a budget and sticking to it no matter what. Through this, you will see how much money is coming out from your wallet and how much you are gaining. This also helps you to have discipline in spending your money.
13. Save money on financial institutions with high dividend rate
Do not settle for less if you have other choice. Save your money on financial institutions where you can gain more in the long run. One of the best examples is saving money through Pag-IBIG MP2 rather than in savings bank account. Read these articles to know more: (insert link of ‘Pag-IBIG MP2 vs. Bank Account’ and ‘Everything You Need to Know about Pag-IBIG MP2’)
14. Quit procrastinating
Stop the mindset that you always have time for everything because the truth is you don’t. Start taking small steps to earn and save money and stop making excuses.
15. Double your patience and hard work
You have to make sacrifices when achieving big dreams and part of it is limiting your social life because there will be times when you are too swamped with your business. You may also experience exhaustion but just remember to get some fresh air if you are too overwhelmed and once you are relieved, it is time to get back in the game.
Take advantage of our 20s to save and invest for us to generate more money as long as our financial responsibilities are not piling up yet. Dreaming of getting rich does not mean we are greedy and are slaves of money. Let us be honest here. Who would not want to live a life so comfortable and secured that we do not even have to be frustrated over a quite long list of monthly bills and restrain ourselves from purchasing items that we want to own? Life is better if we are not stressed and worried most especially when it comes to financial matter.
Let us debunk the old belief that money cannot buy us happiness because with all honestly, it really does!