Go From Broke to Rich with These 8 Super Easy Money Tips
February 3, 2021 | Louis Tully
Everyone wants to achieve the American dream of going broke to rich; we want to wake up one day to find ourselves winning the lottery. But real life doesn’t work like that, at least not for most of us. In order to go from broke to rich, we have to really work for it.
Here are 8 easy money tips that will help you get from broke to rich.
Broke to Rich Money Tips
Get the Right Mindset
The first thing you need to do is mentally commit to getting rich. You need to drill it in your mind that you can and will get rich. Without the proper mindset, you won’t be able to achieve much. Once you have convinced yourself that you can be rich, do the math and set a goal. Do you want to be a millionaire in your thirties or do you want to have a $100k set aside within a couple of years.
Write Down Financial Plan
One of the most important things you can do to get rich is to make a written financial plan. A financial plan that is on paper will force you to take-action instead of just talking about it. Secondly, a written financial plan will act as a guide for you and show you the decisions you need to make in order to achieve your goal.
Increase your IncomeAfter you have jotted down your financial plan, you need to start looking for ways to increase your income. It will be really difficult to go from broke to rich on just one stream of income; in fact, self-made millionaires have at least 3 streams of income.
There are a number of ways in which you can increase your income. You can rent out rooms in your house, buy rental properties, start a side business, get a second part time job, invest in the stock market, or drive an Uber. The main idea is to take control of your revenue.
Live Below Your Means
Just because you are earning more does not mean that you have to improve your lifestyle accordingly. In fact, a lot of wealthy people are known to be frugal. Try to stay broke and immediately move any excess income that you get by either investing it or transferring it to a savings account.
This will not only help you save and grow your income in the future, but also prevent you from spending it on yourself. Secondly, staying broke will keep you motivated and driven.
Cut ExpensesIn order to have more than you can put aside, it is important that you cut out unnecessary expenses from your life. Focus on the necessities of life and try to track your expenses, only spending on what you need not want. Make an excel sheet of all these expenses and then figure out which ones you can reduce.
Save to Invest
The point of setting aside money isn’t to “save”, but rather to invest. Investing money is how you will really create wealth for yourself down the line. Remember in a Capitalist society, it is the owners of capital, rather than those who are employed that are actually able to accumulate wealth.
When building upon the previous point, always think twice before making any investment decisions, as one bad investment can potentially hurt your wealth and hurt your chances of going from broke to rich. So, whether you are investing in stocks or property try to get an expert opinion. You need to consider your willingness and ability to take risks. Naturally, your risk-taking ability will be higher when you are young and then decrease as you grow older.
Increase you Knowledge
Another tip to going from broke to rich, is to upgrade your skill and knowledge base by reading or listening to podcasts. You do not need to be an expert in every field, but be knowledgeable about money, investments, and the things that interest you.
Get a Title Loan
The journey from broke to rich takes time and during this time any financial emergency can leave you in urgent need of cash. One option that you can use is a title loan. Title loans can be used to pay off urgent expenses such as sudden medical bills, auto, and home repairs, as well as unexpected travel.
If you live in Utah, then you can check out Utah Title Loans.
Benefits of Title Loans
Easy and Fast
The main advantage of getting a car title loan from Utah Title Loans Inc. is that they are easy to acquire and ensure fast payment. The whole process takes just 30 minutes and you can get between $300 - $15,000.
Once your loan has been approved, the cash will be transferred to your account on the same or next day.
Bad credit Accepted
Furthermore, you do not need a strong credit history or any credit history at all for that matter, when you apply for a title loan online at Utah Title Loans Inc.
Keep Driving Your Car
If you get a title loan, you will be free to use your car as long as you keep on making the payments. You will have to ensure that the car is in your name and lien-free, meaning there is no outstanding claim against it.
How to Acquire Title Loans
In order to acquire a title loan, you can either visit a store the old-fashioned way or you can go online. This is the step-by-step process for acquiring car title loans online:
- When searching for a title loan near me, simply go to UtahTitleLoansInc.com
- Fill out the online form on our website
- Once you are finished, you will get a call from a representative who will ask you to visit a location near you.
- You will have to bring the car’s title and your driver’s license or ID
- The representative will check your car and let you know the loan amount you are eligible for
- Once that is done you will get the amount deposited in your account the same or next day
Going from broke to rich is not a simple task, or everyone would be wealthy, but there are easy steps you can take to put yourself on the right road. As long as you follow that road, without any detours, you will see the benefits. If you hit a road-block and experience a financial emergency, Utah Title Loans Inc is here to help with the fast cash car title loans that are available.