10 Simple Steps To Becoming Rich You Need To Build Wealth

steps to becoming richIs becoming rich and not having to worry about money is a dream of yours?

But you’ve tried to figure out the secrets of building wealth and have come up empty every time.

You even tried out some ideas that sounded too good to be true, but couldn’t resist the opportunity to becoming rich.

You want the money, the houses, the lifestyle. You believe that when you are rich, you will have the world at your fingertips.

You want to forget about the struggles of not having money, the stress and the headaches.

You just want to become rich.

But you are losing hope. Nothing seems to be working in your favor.

Until today.

Today I am going to show you the steps on how to become rich from nothing.

If you follow these simple steps for attaining wealth, you will be shocked at how you can live a life of wealth beyond your wildest dreams.

Just understand that these steps aren’t what you typically see.

I won’t be telling you the latest fad you need to get in on. Instead, I am presenting you the guide to build wealth that will last a lifetime.

If you can master these 10 steps, then you will be able to buy whatever you want whenever you want.

Becoming Rich Beyond Your Dreams In 10 Steps

#10. Live Below Your Means

I know, nothing groundbreaking here. But if you want any shot at becoming rich, you can’t be in consumer debt.

When you are, you are working to pay other people and not pay yourself.

Think about that for a minute.

If you are in $500 worth of credit card debt and you get paid $500 a week after taxes, you just worked 40 hours to pay off your debt.

None of that money you earned is yours. It’s going right to the credit card company.

Building Wealth Having Debt

It’s hard enough to get out of bed some mornings and fight traffic.

If you are in debt, you are doing it simply so you can hand your paycheck over to someone else.

That needs to change. You need to get out of debt and start living within your means.

But it doesn’t end there.

Being in debt strangles your options in life as well.

If you had no debt and kept your spending in check, you could work at a more rewarding job and even get paid less.

You would be infinitely happier because you would be doing something you love to do.

Your first step for becoming rich is to get out of debt.

The question is, how do you go about getting out of debt the quickest?

Luckily I have detailed this information out for you.

#1. First you have to see how much debt you have and where it is.

Write down your current balances and what type of debt it is, like credit card, student loan, etc. Be sure to list the interest rate you are paying as well.

#2. If you have student loans, this part is critical.

You need to visit Credible and get a free analysis on your debt to see how much money you can save by refinancing.

Why do I suggest this?

If you have a mountain of student loans, you are going to pay a mountain of interest on this debt.

By refinancing, you will save more money that you imagine.

For example, let’s say you have $50,000 in student loans at 5% interest.

If it takes you 20 years to pay them off, you are going to pay close to $30,000 in interest alone!

But if you refinance and pay 3% interest, in 20 years you will pay roughly $16,000 in interest.

Build Wealth Through Refinancing

That is a savings of more than $12,000! And it took you a whole 10 minutes to do.

If you are serious about becoming rich, you need to click here and visit Credible today and refinance your student loans.

#3. The next step in the process is to start paying off your debt.

I prefer the snowball method since it is best at keeping you motivated to pay off your debt.

Once you organize your debts and create a plan to follow, you can start paying off your debt and start building wealth.

My only suggestion would be to keep this debt out of the plan for now since you can deduct the interest and the balance is most likely your largest.

#3a. If you have a lot of credit card debt, you may want to look into Credible as well.

They offer a personal loan that will allow you to consolidate your credit card debt into one loan.

Why would you want to do this?

You will have one payment at a much lower interest rate.

This will save you money in interest and save you time from having to pay multiple bills each month.

Here is the link to see how much you could save by getting a personal loan from Credible.

#4. Begin working to get rid of your mortgage.

Since this is your largest debt, I like to focus on it last. It helps too that you can write the interest you pay off on your taxes!

The first step to paying off your mortgage is to look into refinancing. The same idea as your student loans applies here.

Play with the calculator below to see how much you could save just by refinancing.


If you find that refinancing isn’t for you, hope is not lost. You can still pay extra every month on your debt.

By making it a point to pay off your mortgage early, you will save money in interest and free up your budget at the same time.

At the end of the day, the sooner you start to dig yourself out of debt, the sooner you can start your journey to riches.

#9. Spend Smart

Another factor in becoming rich is to spend smart.

What does this mean?

It means not only keeping an eye on your spending, but also is about buying quality items, even if they cost more.

A great example is one I learned recently.

I tend to wear a lot of tee shirts. Since I don’t value them that much, I would go to a store and buy their tee shirts for $9 each.

My thinking was $9 is much better than $30 that another store charges.

But my thinking was flawed. The $9 shirts were made poorly.

I ended up needing new ones every year because they would get holes in them.

The $30 shirt on the other hand was made better and lasted many years.

Over time, the $30 shirt is a better buy because in 5 years, I’d have bought 5 shirts at $9 each, meaning I spent $45 every year on new shirts.

In that same time, I could have bought three $30 shirts and kept them for 5 years.

Building Wealth Buying Quality

The savings? $135 just on tee shirts.

Think of all the times you base your purchase on price alone.

My guess is you could be saving a decent amount of money on more expensive things even though the upfront cost is more.

Granted, there are times when lower priced is better.

For us, we buy the store brand frozen vegetables. They taste the same and are much cheaper in price.

Before you buy anything, look at the quality of the item first.

See if it makes sense to spend the least amount of money possible or if a higher priced version is a better value over the long term.

When it comes to keeping an eye on your spending, you can do this easier thanks to technology.

For example, you can use the app Trim.

It will scan through your purchases and make recommendations on lower cost options and suggest bills you can cancel, like gym memberships or that long lost music service you subscribed to.

Trim even will negotiate your cable bill for you! Most users see a $30 drop in their monthly bill and they didn’t do anything.

Trim did all the work for them!

Click here to try Trim out and see how much money you can be saving.

In addition to Trim, you can take some simple steps to keep your spending low too.

I like to review my spending, from large to small to keep things in check.

By using this approach, you save the most money in the least amount of time.

Once you do this, you will have more money not doing anything. Don’t make the huge mistake of letting it site on your checking account.

This guarantees you will find something to spend it on and the result is you never will become rich.

Instead, save the money.

Open your free online savings account with CIT Bank and earn one of the highest interest rates in the country.

This will allow you to grow your wealth at a faster rate.

Find the best savings account for you. Click here to learn more.

#8. Know What Matters

Advertisers are good at getting you to part with your money. If you want to be rich one day, you have to know what matters to you.

This means not getting sucked into the marketing for a product and buying on a whim.

Make sure you know who you are and what you like. This is a big step in not falling for their tricks.

Unfortunately, you will still fall victim at times. The key here is to not buy on impulse.

Everything you want to buy needs to be thought about first.

Write it down, make a note in your phone, whatever.

Then wait a week and see if you still want it.

Odds are you won’t and you will have completely forgotten about it.

This trick works because of the way our brain is wired.

Our emotional side fires up first, which makes us buy without thinking. Then some time later, our rational side kicks in.

We know this happens when we regret a purchase. By writing it down, we give our rational brain a chance to process the information and save money.

#7. Invest

stock market

You will never become rich unless you invest.

OK, you can win the lottery (though not likely) or get a million dollar inheritance from a long lost uncle (again, odds not so good there).

But realistically, your best shot is to invest in the stock market.

I know some reading this would rather walk over hot coals than invest in the stock market, but it isn’t so bad.

In fact, if you follow the tips I talk about in my investing posts, you will be a successful investor.

This means that over time, you will grow your wealth.

If you are serious about becoming rich, you need to read the investing posts I’ve written.

I offer simple, easy to follow advice on how not only to get started investing, but also how to overcome your fears and be successful.

From there, all that is left for you to do is to invest. You can go about this one of two ways: either DIY or hire someone.


For many, the DIY approach works best.

Don’t think for a minute that you can’t invest on your own. Thanks to technology it is easier than ever.

All you need to do is know what your goals is and this will help you to understand the perfect fit for you.

If you would rather just have me recommend an online broker, then you can’t go wrong with Betterment.

They are a perfect option for most as they automate 99% of the things you need to do in order to make money in the stock market.

In as little as 5 minutes, you can have your account opened and Betterment will take care of everything for you.

All you have to do is sit back and let your money grow.

To get started with Betterment and build your fortune, click here.

If you aren’t the DIY person, you can hire someone. While this is an option, many won’t have the money most advisors require.

This is because most advisors deal with people who have a good amount of money to invest, like $250,000 or more.

This is why robo-advisors like Betterment came along and are so great.

They allow the little guy to invest and build wealth in the stock market.

If you do find an advisor that you like, make certain they are a fiduciary.

This will ensure they are investing your money that is best for you.

Sadly, not all advisors put your goals first and as a result, make money off you.

#6. Be A Lifelong Learner


I don’t care what your age is, you need to be educating yourself at all times.

We live in a fast-paced world and technology is changing all of the time.

If you don’t stay on top of evolving your skill set, you are going to get left in the dust.

Why does this matter?

Because your career is the greatest asset you have in becoming rich.

Nowhere else will you earn as much money as you can from your career.

For example, if you are making $40,000 a year and are 35 years old, you will make a total of $1.2 million by age 65, assuming you never get a raise.

If you don’t keep learning though someone else who is hungrier for success will come along and put you at risk of being let go.

If you do get let go in 5 years, chances are you will a tough time finding a comparable job because you haven’t stayed up to date with technology.

This means you will have to take a lower paying job.

If this new job only pays you $30,000 you just cost yourself $250,000 in lifetime earnings.

Become Rich Lifetime Earnings

Therefore, it is critical that you are always learning about your industry and making sure you are at the forefront of new technology.

How do you do this?

Read industry magazines. Go to conferences and networking events.

The more knowledge and information you consume, the better your chances of keeping your job, earning raises and becoming rich.

#5. Work Hard

Along with being a lifelong learner is to work hard. You can’t just skate by even if you stay on top of the trends in your field.

You have to work hard.

This means getting a lot done. Take on new projects. Help out anywhere you can.

I am not saying you have to work 80 hours a week, though working 50 or 60 wouldn’t be a bad thing.

In addition to working hard, find ways to work smart too. See if there are ways you can improve your time management skills.

I suggest you read Getting Things Done. This is especially true if your emails are out of hand.

Another good time management skill is to cut out distractions.

Close your door at the office or block off time in your work calendar so others think you are busy and won’t bother you.

Other options include:

  • Only check your email twice a day, at set times
  • Use the Pomodoro Timer to focus for short periods of time
  • Get in to work early so you can work uninterrupted

The better you become at being efficient with the small day-to-day things that eat away at your time, the more time you will be able to spend on other areas.

These include projects, finding new business, or anything else that will make you stand out from the crowd.

And this in turn will lead to larger raises and more wealth.

#4. Become Valuable


Related to the point above about working hard, is to become valuable at work.

By becoming valuable to your boss and your company, you lessen the threat of a layoff and earn more money.

Just how do you do this? Your boss needs to see you as someone the company cannot survive without.

To do this, create new ways of doing things.

For me, it was all about speed. In one job I had, we dealt with Excel a lot and it was all manual work.

In other words, really boring stuff.

I ended up learning about Excel macro formulas and applying that to my job.

Suddenly the work that would take me 8 hours I was getting done in 3 hours.

The culture of our entire department changed overnight. No longer were we stuck doing boring reports manually.

We have hours of free time to spend on growing our department.

We even tried to figure out other ways to automate some of our other tasks and were successful with a few.

Another way to become valuable is to do the work your boss hates.

Go into their office and ask them what they have been putting off doing and if you can take it off their hands.

They will love you for this.

At another job I had, my boss had to write a quarterly market review.

He hated doing this, and would wait until the last minute to write it.

He would be a bear all day because of how stressed he was.

I offered to take the quarterly review from him and he agreed. I was his go-to employee from that moment on.

Lastly, you can figure out ways to save your company money.

I have a friend that does this. He is so skilled in it, that he now gets a percent of the annual savings as a bonus!

The more you can become valuable, the greater the chances you will see larger salary increases and lower odds of losing your job.

And keeping your job and earning more money is a key to becoming rich.

#3. Network

Some people don’t think networking is important but it is huge. You never know when you will need the help of your network.

I’ll give a quick example of this.

My wife was training to become a life coach. In her program she needed a certain number of clients to start with so she could stay in the program.

The deadline was getting close and she was a few people short. I suggested that she post on Facebook and LinkedIn.

She has a ton of friends on Facebook and worked in sales previously so she also has a lot of LinkedIn contacts.

She posted in both places on Sunday night and by Monday morning had 5 people reach out to her with interest.

Networking is a powerful tool to have at your disposal.

The larger your network, the more options you have.

This could mean getting help with something like finding a job or just getting help with a project you have.

To get started networking, keep it simple.

Reach out to some friends you haven’t talked to in a while. Find some clients of yours on LinkedIn and connect with them.

Then find old colleagues that have moved on and connect with them as well.

Make it a point to connect with people you meet at networking events on LinkedIn as well.

As time goes on, you should be able to build a solid network.

Just be sure to keep in touch with them occasionally, either through email or meeting for lunch.

#2. Marry Smart

marriage and money

Yep, I had to include this one on the list. The reason is simple.

Marriage can make or break your chances of ever becoming rich.

If you marry smart, you will work as a team and grow your wealth over time.

If you marry the wrong person, you will be at odds all of the time and will destroy your wealth.

To be more specific, you have to marry someone that has the same values as you do.

I know that opposites attract, but life and marriage is so much easier when you are both on the same page about the big things.

This includes family and money.

Some people are savers and some are spenders.

If you want to become wealthy and your spouse wants a new car every 2 years, you are going to have issues.

But if you both have a goal of wealth, you work together and achieve this goal.

If you do end up marrying someone with different values than you, here is another way you can destroy your wealth.

You will fight all of the time and rarely save anything.

Eventually the marriage will end in divorce and any money you did save will get split 50/50.

You just lost half of your wealth by marrying the wrong person.

From there, you will have an even harder time working to become rich because you may need to pay alimony and child support.

I realize that not all marriages end because of finances alone, but you have to make sure you are marrying the right person.

#1. Change And Adapt

change and adapt

The final step in the process of becoming wealthy is to change and adapt. My idea of wealth is different now than 15 years ago.

This is a key point in becoming wealthy.

You have to change and adapt with the times.

Back then, I wanted tons of stuff and would have needed millions just to buy the things I wanted.

Then I would have needed many millions more just to afford the upkeep on everything.

This is why so many people end up destroying their finances. They only think about needing the millions to buy everything they want.

They never think about the ongoing costs and how this requires them to keep earning millions every year going forward.

I realize now that I can be wealthy and have a lot less stuff and as a result, I need a lot less money.

This isn’t to say becoming rich isn’t a goal of mine.

I still want to have enough money so that I can live the life I want and not worry about money.

It’s just that with my updated views, a lot less money will determine whether I am rich or not.

I encourage you to not hold on to your specific idea of wealth.

Let it change as you grow. Most likely you will find the same thing I did. That in time, experiences are more valuable than things.

Final Thoughts

There you have the 10 steps to becoming wealthy.

If you seriously want to grow your money and become rich, these are the steps you have to follow.

From spending to investing, to earning as much as you can, even paying attention to who you marry and changing with the times.

All these things add up to lifelong wealth if you follow them.

And once you turned your dream into a reality, then you can sit back and relax and enjoy the wealth you built up.

1 thought on “10 Simple Steps To Becoming Rich You Need To Build Wealth”

  1. Jacob Welbourne

    From your writing, I can tell that most of these boil down to discipline. If you can’t reign in your expenses, and prioritize your allocation of resources (both time and money), then you can’t truly build wealth. The most helpful for me was to marry smart because without my wife, none of this would be possible.

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