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How to Get Rich Quick Realistically

I’m a 30-year-old bachelor that works from home and I no longer worry about money.

For many years I worried about money, but now I spend time enjoying it.

Very few people wake-up one day and just become wealthy. It’s is a choice that you make and a way that you live your life. 

It took me a long time and a ton of hard work, but I finally learned how to get rich quick realistically. I’m certainly not super-rich, but my money mindset has changed dramatically.

Most of us don’t get rich quick; it’s a journey. So, how did I do it? How can I possibly teach you how to get rich quick?

Here’s how I got rich quick (realistically):

Just in case you’re a busy professional who only has time to read lists, all you need to know to get rich is the following:

1. Less Stuff = More Money

Just a year ago, I worried about money all the time. I never had enough money to live the life I wanted, but I was able to pay my bills. I owned a condo that ran me close $2,000 a month, a BMW that cost over $400 a month, and a bunch of stuff inside of both. I needed at least $3,000 a month just to keep up with my stuff.

Then, I lost my job. I needed to downgrade my life, or I wasn’t going to make it. I sold the BMW and bought a Honda Civic for half the price. I rented out my condo and moved in with my younger brother — reducing my monthly living expenses dramatically.

I made a list of what was important to me and what was not. I sold every non-essential I could to make extra cash. 

Why do you need all that stuff?

If I were to take an inventory of my life and determine the things I use every day, it would be a bed, a chair, the car, the computer, a frying pan, and a French press. Those are the thing I couldn’t live without. The rest of the stuff I rarely use.

We live in a consumer’s world. That’s why we even think about how to get rich quick. However, we don’t have to conform to it. Collecting stuff is just a waste if you don’t use it. You probably have a house full of useless stuff; get rid of it.

When I had this epiphany about stuff, everything changed. The way I thought about money shifted dramatically.

Do I Need This?

If you’re buying stuff every day, you need to take a step back and think about it. I like to create a 30-day list on my phone of things I’d like to buy.

If I see something in a store or online, instead of clicking buy I just put it on my list. That curbs the urge. 95% of the time, I end up not wanting it in 30 days. I also always ask myself- Do I need this? Will it make my life that much better?

Most of the time, it won’t. Most of the time I can’t even remember why I wanted that thing I put on the list anyway.

Take Away: Stuff costs money. Keeping stuff in your house costs money. Using stuff costs money. Less stuff, more money.

2. Educate Yourself

Financial education is your best investment. I made it my New Year’s resolution to educate myself about money — since I spent almost 20 years being terrible with it.

I read two books: The Simple Dollar and I Will Teach You To Be Rich. Start there. We also created an awesome podcast where we drink beer and talk money to help make it all a bit easier

Invest in yourself, in your education. There's nothing better. -Sylvia Porter

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The one thing I learned was debt is the devil. Both books drilled in my head that I should be debt free.

3. Debt is The Devil

Now that I was a streamlined bachelor with very low living expenses and nothing to buy, I had some available cash. I decided to pay off my credit card debt. Having no debt is freedom and an idea I could get behind.

Having debt while trying to achieve financial independence is like driving with your foot on the brake. While debt can be valuable and even profitable if used correctly, too many people spend money they don’t have.

Bad debt, like credit card debt, compounds many times faster than the best investments ever could and can quickly outpace your ability to earn and pay it off.

The good news is, you don’t have to bury yourself in debt. However, the minimum payment is not going to cut it. Attempting to escape debt with minimum payments is like trying to toast bread with a flashlight.

I did some more research to determine the right method to paying off my debt, and I found the stack method. I won’t go into detail, but you can read about it here.

Student Loans Suck

I don’t personally have student loans, but I know many people like my brother who are making that dreaded payment every month. From now until what seems like an eternity, a few hundred bucks out the window every month.

The interest on those loans will ruin you. The quickest way to reduce your student loan balance and pay less interest is to refinance.

Companies like LendKey can dramatically reduce that rate and save you a ton on your loan. If you signup for LendKey with through us you get $200 paid towards the principle of your loan. Yeah, we’re good like that.

Take Away: No stress, no debt, uh, that’s freedom! A feeling better and longer-lasting than sex. If you need a little help, we have a free book here to help you with your debt reduction plan.

4. Make More Money

Being frugal is important, but it’s only one side of the coin. Cutting your fancy cappuccino habit to save a few bucks isn’t going to push the needle for you.

While there is a limit to have much we can save, there is no limit to how much we can earn. 

Investing in the Market

The easiest and the most efficient way to grow the money you’ve already saved is through investing in the stock market. The best part is it doesn’t take much work on your part; it can be put on autopilot.

No, investing in the stock market will not make you rich overnight. It’s a slow, steady and consistent way to build wealth. With a 7% average yearly gain, your initial investment will double ten years.

You can’t do that keeping it in a savings account. In fact, in 10 years, your savings will be worthless because of inflation.

Investing vs. Saving

You don’t need a ton of money to start investing either, and every little bit counts. If you’re an investing newb and need help getting started, we’re here to hold your hand.

We love Betterment for beginner investors because there is no minimum, the fees are low, and you don’t need to know anything about investing to get started.

Invest in Yourself

Not every investment has to start with money. Making some simple changes in your lifestyle can drastically improve your life and work which in turn can make you more money.

Are you friends ballers? Do they go out all the time a spend tons of money on expensive dinners, gadgets and other crap they don’t need? If your friends are not financially responsible, it is going to be harder for you to be responsible.

You want to surround yourself with people who have the same goals as you and people you can learn from. You need financial friends. It’s probably about time that you got financially naked.

Maybe you have a great job, but your 3% raise every year isn’t going to make you rich. You need to push the needle a little bit, work with me here.

The best way to keep bumping your income is to move jobs every few years. People who change jobs often, make 50% more over their lifetime compared to those who stayed at jobs longer.

If you don’t feel you have the skillset to find a better position, then upgrade your skills. Take a class or read some books. It can help you get to make more money at your current company or help you find a better spot a new one.

Invest in a Side Business

Who doesn’t want a little (or a lot) more money? There are many great ways to grow your income outside of your day job. From selling crap you don’t need, to building a side business, it’s always an excellent idea to make some extra money. It can help you pay off debt quicker, grow your investments faster or even turn into a full-time gig.

Earning some extra cash on the side can be fun, it will increase your level of income security and confidence. There are also a ton of tax incentives for small business owners.

Never depend on a single income. - Warren Buffet

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Want to earn some passive income and start your side hustle? See how other successful entrepreneurs and millionaires made their money. Get inspired and get to work.

I’m a skilled web designer, and I knew I could make money by designing a few websites. I started reaching out for work by cold emailing and walking into local businesses. With the extra income, I paid off my debt in a few months. I didn’t have a ton of debt, to begin with, but I’ve been sitting with it for over 15 years.

I now realized I had extra money because it wasn’t going towards paying my credit card bills — this was on top of the fact that my living expenses were much lower than they were. I found myself with a lot of extra income.

Invest in Real Estate

Real estate can make you make you rich, but you need a little more money to get started here. If you are reading this you probably not ready for real estate investing just yet but you might want to put it on your list of goals.

Investing in turnkey rental properties can have fantastic returns. Roofstock is great, I created a free account and asked them a ton of questions a year before I even got started and they were more than happy to answer all my questions.

If you are interested, we have a bunch of resources and podcast episodes you can check out. We cover everything from cash flow to the tax benefits.

Take Away: You have unlimited earning potential. The only thing that is stopping you from earning more is you.

5. Track Your Net-worth

Taking a hard look at your financials can be scary, especially if you’re in the negative. But if you want to be rich, you can’t avoid it forever and the best time to face your fear is now. You will feel relief when you know where you stand financially instead of just guessing. Then you can set goals and track them.

What gets measured gets managed. - Peter Drucker

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Net worth is probably the most important financial number you can track. It’s a simple way to see your financial life with a few basic calculations. Every month income comes in, and expenses go out to pay bills and rent. If after all your expenses are paid if you still have some money left over – that’s great. Now you have money to invest and grow.

Personal Capital is a great tool to budget and track your net worth, and it’s free to sign up.

Living below your means is the simplest way to save money. If you are in the negative month after month, then it’s time to look at your budget and see where you can cut and how you can make more money to make ends meet.

net worth

Tracking your net worth will show you your progress on a small scale, month by month and a larger scale, year by year.

How Will You Get Rich Quick?

A total life transformation won’t happen overnight, but it will start to slowly take shape with each choice. Action will be the key to success.

Building wealth is not something you will just stumble upon one day. It’s something you work at every day, forever.

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36 responses to “How to Get Rich Quick Realistically”

  1. Claire Murdough says:

    AHA – the voice becomes the written word! Great post, Matt :)

  2. Daniel Murrell says:

    go get dat money

  3. Wes T says:

    Nice post…living a lean life is key to financial independence!

  4. Maria Nedeva says:

    I enjoyed your story; well done on foregoing materialism and paying off your debt. Great, inspirational post Matt. (For the record, I did the ‘pay off all the debt’ stuff but have a family and getting rid of stuff is not so easy).

    • Matt Giovanisci says:

      Thank you, Maria. It was hard to break the habit of materialism, but now I find myself really thinking about what I purchase in my life. Clean living allows you to have lots of available cash, and nothing beats that feeling of financial security.

  5. Davey Pockets says:

    Awesome story man. Hats off to you!

    • Matt Giovanisci says:

      Why thank you. Never thought of it as an awesome story, but I’m glad I shared it and the praise is great :-)

  6. “Get rid of your crushing debt. It’s like driving with your foot on the brake.”

    L-O-V-E I-T!!! I will be using that one. It really “drives” the point home, doesn’t it? Thanks for my laugh-out-loud / heavy-nodding-in-agreement moment of the day Matt. What a great way to start the week.

    Oh, and the rest of the post was pretty good too. Hat’s off to you.

    • Vivian F. says:

      I like it too! here is some advice someone else gave me

      1 – Save long enough for big purchases (car, house) so that payments plus all other expenses don’t go over 50% of net monthly income. Save the other 50%
      2 – Never EVER carry a credit card balance (unless it’s an emergency)
      3 – Every time you get a raise, automatically direct the difference to a savings/investment account
      4 – Understand the difference between a want and a need and try to indulge in fewer ‘wants’
      5 – Cut back spending on monthly expenses like cable, internet, insurance, etc. (look at $25/month auto insurance from InsurancePanda, for example)
      6 – Buy healthy foods and avoid excessive eating out. Pack your own lunches
      7 – Focus on accumulating assets. A car is not an asset. Better if they generate cash flow.

    • Jenny says:

      Earn that extra income online by visiting the site GetPaidToWorkFromHome;com

    • Orpita Banik says:

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  7. CQF says:

    This is what realistic wealth is all about. Good read!

    Cha @ CME Capital Australia

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  9. Debt is the devil, my friend. It’s impressive how reading your article allowed me to feel your newfound confidence when it comes to money and your finances.

  10. foreveryou says:

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  11. monteboss says:

    very lame article, waste of time.

  12. Bob McLean says:

    The real reason you aren’t seeing success in life isn’t difficult to understand
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  13. Steve Bryoles says:

    Your advice really helps a lot, i have tried to live like that in the past, it really helped a lot when things were getting rough for me but it got to a point when my wife could no longer take it she left me and filed for a divorced, complaining about my lean living, things got so bad to the point when, i lost my contract with shell drilling company, a few weeks after it was awarded to me, i had invested almost all my savings in that contract, i was frustrated and thought about suicide until i came across this great spell caster’s contact, Dr Ogbunabali who changed things for me over night, he told me not to worry about the issue that he will help me regain my lost contract,i never believed at first, but after 48 hours, as he promised, i was called back by the company to commence work, i was amused at the turn of invents, now i live my dream life and happy with my wife and kids.
    All thanks to Dr. Ogbunabali, he is a solution to all financial problems, marriage issues, good luck fortune, barrenness, job opportunities, regaining a lost partner with spell, cure to HIV/Aids, diseases and spiritual problems.
    All he asked as gratitude is to spread the news and testimonies of his powers all over the world.
    You can contact Dr Ogbunabali on his private email address, [email protected], mobile number +233502601599.

    • Oh, I agree. The Mara’s Kaleidoscope necklace that Dr Ognunabali has really helps too – especially by increasing his critical hit chance by 6.0–10.0%.

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      • Steve Bryoles says:

        Andrew spread the testimonies of his works all over the world and let those who are not aware know of his testimonies and good works

  14. jb1907 says:

    Everyone “could” live with less stuff, but at some point, you just accumulate it. Yes, if/when we downsize we will have a bedroom and a ton of kitchen stuff to get rid of, a desk and a book case or two, but not everyone likes to live in a minimalist style, so just make sure you have enough savings to survive a job loss and don’t have debt. Then, you can live pretty cheap in whatever sized house you want and you can choose to have less stuff.

  15. You don’t need a money saving expert to tell you that it can be very lucrative to enter online free competitions. http://onlinefreecompetitions.com/

  16. JAzz Jazzy says:

    i am ejaz 27 years old i am suffering a bad times because i lost my job, i owe credit card balance 50000 Rupees , i owe 200000 Rupees to my bro in law , my insurance balance is renaming 50000 rupees, i lose my lover due to my bad financial position, now i pray to the GOD that he takeout my soul i am very upset i have no money my all friend and family left me because i have empty pockets, when i was good job i have full pocket all Friends and family calls me meet me but now true says empty pocket and empty belly can teach me allot of life lesson, please pray for me :(
    [email protected]

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  21. Shashank K S says:

    1. Escape The Material Mindset

    Second sentence, tenth word needs a typo fix.

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  23. Gryllzten says:

    Hello there! There are lots of things how to get rich the first one of course is DON’T SPEND.
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  24. smtlaissezfaire says:

    Matt – You speak the TRUTH on all of this!

    I have saved a bunch of money from working for the last 10 years. Now I’m trying to make it on my own. And the worst that happens is that I have to go out and get a job!

    I also quit smoking after I didn’t have a job. But that’s saving me a lot of money! $50 a week is nothing to sneeze at. And I’m actually raising money for a good cause at the same time, and getting fit!: http://dwdg.co/campaigns/scott-taylor-i-want-to-quit-smoking

    I’ve always been debt free, but I started looking into passive income streams a while back – what sorts of systems could I put in place to make money while I sleep? Any sort of fixed investment/up front work is OK, but I don’t want to have to work on it more than a few hours a week.

    I started a blog around all of this passive income stuff: http://richwithnojob.com

  25. Stephanie Kay Shockley says:

    Easy expect when companies come out with an item you want that’s limited or is only selling for a short time and afterwards you can’t ever get it if you miss out. Course I can’t drive and I get sick a lot and have trouble thinking straight. So, none of those ways would work for me. Expect for the saving money and stop buying junk thing. But that won’t help me have lots of money cause I get SSI checks and I only get $1,273.00 a month. And most of it goes to bills that I can’t cut out. I can only save up $300.00 a month.

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