The aim of becoming rich is not to have a lot of money. Being rich means always having options in life. Being rich affords you options you couldn’t consider if you’re working class or poor. Still, when you make your own fortune, instead of being given one, you have more of an incentive to learn how to keep it. You can become a millionaire with no money to start with.

You must be driven, have discipline about personal finance, start a business, save money, and invest.

Want to become a millionaire in a few years? Here are some tips.

Start Making More Money – Like Right Now

Learn how to manage your time better. Yes, there are only so many hours in a day, but maybe you should learn to perfect a 7-hour to 8-hour sleeping schedule.

Want to become a millionaire with no money relatively quickly? You need to develop actionable and realistic strategies on how to make more money.

You aren’t going to make more money overnight, so think of this as an incremental process.

Now, this may be an easy thing to say, especially considering that 44 million Americans are out of work. However, no one said that becoming a millionaire would be easy.

Consider:

If you are gainfully employed, ask for extra hours or try to diplomatically negotiate a pay increase.

Do you have a marketable skill that you can leverage on the online gig economy?

Are you a graphic designer? An artist? A writer? If there is any skill that you can market online, work on doing so.

Research what, “essential,” jobs are now available in the COVID-19 era specifically in your area of expertise.

For example, coronavirus contact tracers backtrace the social contacts of infected victims to determine a chain of infection. Over 100,000 to 300,000 contact tracers will be needed in the next year. The salary is $65,000.

UPS, GrubHub, Amazon, Pizza Hut, and many other delivery services are in dire need of delivery drivers right now.

If you have a basic education, a few skills, and an internet connection, you can make more money. How? That’s on you.

Attain an Online Education, Certification, and New Skills

Do you really want to become a millionaire with no money to start? You need to learn new things and skills. Or, gain new certifications.

Luck favors the bold and prepared. And, you’re more likely to make your own opportunities than to accidentally fall into one that makes you rich.

Learn a new language. Or, learn the basics of computer programming, psychology, or teaching online.

Coursera and EdX are online teaching portals that offer over 6,500 online courses combined. As a public service due to the pandemic, many courses are being offered for free. Many others start at prices as low as $40.

If you’re interested in becoming a COVID-19 contact tracer, Coursera is now offering a free online certification course. There are many courses at EdX or Coursera where you can gain useful certification.

Learning new skills and gaining new certifications will enhance your disciple and prepare you for opportunities that come your way.

Save More Money Than You Earn

Human beings can be the architects of their own misery and self-indulgently place obstacles in front of their ambitions, wittingly or unwittingly.

Especially when it comes to saving money.

Do you really need a 500-channel cable and streaming service subscription package?

How many times a week do you order takeout food?

Can you downgrade to buying strictly generic brand groceries, medications, and clothing?

Create a weekly and monthly budget. Meticulously detail and differentiate between needs and wants.

Make a dedicated commitment to live below your means as a lifestyle choice and/or near religious practice.

To become a millionaire with no money while starting out requires more personal finance dedication than you can probably appreciate.

Stick to your budget. Try to save 15% or more of your weekly income. Open a savings account.

Or, a business account.

Develop a Well-Researched Business Plan

People who say, “I’m going to own a business one day!” probably exhibit more passive ambition than actionable intent.

Many people who start a business have no idea what they are doing. Over 20% of businesses fail within the first 12 months of operation. Half of all new businesses fail within 5 years.

Want to become a millionaire with no money to start with? It isn’t enough to start a business and hope it succeeds.

Start a business you know will succeed.

I recommend that you buy a book called, The Millionaire Next Door. The basic premise of the book is that anyone can be rich if they save money, keep money in the family, understand the business market they operate in, and know their demographic.

Another important point of the book is that most millionaires are employed in, “unsexy,” vocations. When we think of millionaires, we think of rock stars, actors, and corporate business people.

The local dentist, laundromat owner, vending machine entrepreneur, mechanic, and so on could easily have a net worth of a few million. You may walk past a millionaire in your neighborhood every day and never know it. (Hence the title of the book).

Between 0.1% and 1% of Americans have a net worth of $515,000 to $2.3 million.

What is the local GDP of your area? Who lives in your neighborhood and local region? What product would the local demographic buy if it were available?

Start a business you know can succeed and intimately understand the business market you will be operating in.

Become a Millionaire With no Money? Invest, Invest, Invest

Make more money, save money, start a business, and invest.

Research value investment strategies. Look for a valuable business or product that others don’t recognize.

Remember that it can take years to realize a return on investment.

Consult an investment professional or financial advisor before committing to an investment.

Start With a Plan

Becoming a millionaire shouldn’t be a goal or a destination or sitcom-com style quest.

Aspire to become, “financially secure,” which is a better euphemism for rich. Make a realistic plan to attain such a status.

Think about the sacrifice, discipline, budgeting, and planning that will be required for you to become a millionaire with no money to start with.

Accept that it may take years for you to become a millionaire.

Becoming a millionaire won’t happen overnight. It will happen sooner than you think if you fully commit to becoming financially secure.

Read More

Millionaire Next Door Formula for Wealth Acquisition

Using a Retirement Fund Loan to Buy a House

How To Deal With Debt Collectors When You Can’t Pay

Contracted COVID-19? Borrow $100K From Your 401(k) Via the CARES Act

Online Education Sites Coursera and EdX are Offering Free Courses for Adults

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