If you’re not born with a silver spoon, the thought of becoming rich as early in life as possible is something that most of us always have at the back of our minds. However, it may sound quite overwhelming to some who may even think that it’s impossible to achieve it at a certain age. But the truth is, it’s possible. The earlier you make sound and smart financial decisions, the earlier you will achieve it. The age of 30 gives you good enough time to do whatever necessary to become rich before you reach it. Here are some ways to become rich before you reach 30.
Leverage on your income
If you want to become rich by 30 years old, the first step is to have the capital that you can use for your future investments, which will then compound your money. But in the meantime, you need to find a job. Once you did, never cease to make yourself marketable and keep on leveraging on your skills, because that’s how you’ll be able to maintain your job, get a promotion, or even better, get a higher-paying job. Always focus on increasing your income, no matter how good you think it already is.
Live a frugal life
Have your ever seen Bill Gates’s wristwatch? It’s just worth $10. Mark Zuckerberg drives a $30,000 worth of Volkswagen car instead of a million-dollar worth Ferrari. Warren Buffet still lives in the same house he bought in 1958 for only $31,500. They and many other billionaires are living a frugal life, before and after their net worth had become billions of dollars. Rich individuals are not always the ones who wear expensive Rolex watches, drive luxury cars, or own a dozen mansions.
Save to invest
You may think that having a savings account is enough to make you rich by the time you reach 30. While it’s a good start, the interest rate that your bank will add to it isn’t enough to make you rich. Remember to save to invest. Find an all-in-one market that will allow you to invest in something you really have the passion for. Virie Market is the only one with this characteristic, so far. Be it cryptocurrency investment, e-commerce, real estate, anything you want to invest your savings in, you can do it in this market. Check it’s whitepaper and download its application to learn more about it.
Manage your expenses
You may have the urge to spend all your money from time to time. After all, you’ve worked hard to earn it, whether from your income or from the return of your investment. However inevitable it is to spend it, you need to be able to manage your expenses well. Identify your needs from your wants. Earmark every cent that you earn and know where they are going. Groceries? Yes, it’s a necessity, but know just how much should go into it. New car? Do you really need it now because your current one is already giving up on you? Well, then, you should have prepared for it way before you want for a new car becomes a need, or you will just be forced to be indebted with a mortgage.
So, are you ready to become rich before you reach 30? Follow these tips, and you’ll be on your way.