Becoming Rich With no Money – the Biggest Challenge of the Modern World
Missouri University of
Science and Technology
May ’19 Financial Champion
Do you know the classic American dream? Big houses, fancy cars, and living in the lap of luxury. How often does this dream come true for Americans? It is not easy to become a millionaire when you’ve grown up in poverty. But the good news is that it’s not impossible.
Growing up in a rundown neighborhood and living off of the bare minimum puts you in a mindset that’s difficult to break. You only see the worst parts of life, and it diminishes your hope of ever accomplishing your goals. But what if you can turn your entire life around by merely breaking the cycle?
There are ways you can become rich with no money. You need to become dedicated and have a firm intention.
Rich Mindset VS Poor Mindset
There are social issues that contribute to poverty that can affect one’s personal and financial growth. Perhaps you grew up in an environment where the little bit of money earned was spent on drugs or alcohol. Maybe your parents couldn’t afford to put you through college. These factors have a huge impact on your growth in society. But what if you could change your mindset?
Some poor people have a rich mindset. These people are more likely to move from poverty to the middle class and even upper-class society. How is this possible? Because these people refuse to let their circumstances affect their growth.
Change Your Paradigm
A simple change in thought patterns can motivate you to work towards a goal. It should be noticed that there are no ‘get-rich-quick’ schemes. But a positive change in attitude and your thirst for wealth will help you get there a lot quicker.
So how do people get rich by changing their thoughts?
Become More Resourceful
Someone with a rich mindset is incredibly resourceful. Working part-time jobs while still in school to save money is a prime example of being resourceful and seeing possibilities where others do not see.
Resourcefulness is working for a surplus and use it to fund tertiary education or becoming an entrepreneur. Create a challenge for yourself that will help you save your money so you can gain more resources.
Write down a list of what you’ll need to accelerate your growth and work towards saving for it. These resources may be laptops and an internet connection, so you can take part in free online courses to help widen your knowledge.
Gain Your Momentum
Someone with a poor mindset will spend their surplus on parties, drugs, or alcohol, which contribute to the social cycle of poverty. But someone with a rich mindset spends his time, energy, and resources merely on work that continues to pay off in the long run.
This creates a system that continues to generate value in one’s life. This could mean studying long hours so you can have the marks you need to get into college and working part-time jobs to fund your education.
Sacrifice Your Time & Money
Investing your time and money is critical if you want to succeed. It can be challenging because it will require a lot of energy and motivation. But you will reap the rewards as you gain momentum, and the more you work & invest, the easier it will be to start thinking bigger.
Finding Positive Mentors
Do you know the saying ‘you are the average of the five people you spend time with’? That’s why it’s essential not to be around people who have a negative influence on you. It will be difficult to become successful if you continue spending time with those who want to party all the time.
Seek out people who work hard and spend their time building themselves up.
If you’re in a poverty-stricken area, perhaps you can be a positive mentor. Create a group where like-minded people can come together to work on their dreams. You’ll be more effective if you’re inspiring others to reach their goals.
Is It Possible to Become Rich in a Year?
It’s not impossible to become rich in a year, but you’ll first need to know the fundamentals. Here are a few ways on how you can go from poor to rich in a year:
- Gain as much knowledge of business as possible.
- Save your money.
- Invest your capital.
- Become an entrepreneur.
- Gain the following mass (on social media).
- Offer a service for payment.
Being poor doesn’t mean you are lost. It merely means you have to work harder to reach your goals. This builds tremendous character, and you will appreciate your money more when you work towards gaining it. There will be obstacles, but it will develop you into a robust and resilient person.
Don’t let your circumstances bring you down. You can do anything you set your mind to as long as you have the dedication and the intention to succeed!
Kerry Vetter is a consumer finance expert and writer, who has been engaged in creating finance-related content for more than ten years. Her expertise is approved by obtaining a Bachelor of Science in Finance from Boston College, as well as receiving three major certificates as a professional advisor and counselor. At the moment, Kerry is an author of multiple educational articles and insights that have been created in order to increase and develop financial literacy and responsible borrowing among US citizens. Her expert relevant savings advice has helped a lot of people overcome their financial issues and find out more about principles of smart spending, the right investment decisions, and budgeting. You can read more about Kerry’s professional background here.
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