Wealth Creation Guide For Beginners – 9 Steps To Financial Freedom!

Hey there friend! It seems you want to be rich, so you’ve begun doing research on wealth creation.

This also means that you’ve already taken the important first step on the path of wealth creation, congrats!

The only thing left is to continue down this path, so I’ll help you do just that.

Sit back, relax, and I’ll get you up to speed by going over the basics I consider to be the most important.

 

What is wealth creation?

Wealth creation has all sorts of super fancy explanations, but it’s simply creating sources of income, usually over long periods of time.

For example, a retirement plan or a savings account. You’ll have your riches, but not immediately.

This is the part where most people get discouraged, which is completely normal. They want results now. Or at least soon.

No one wants to take risks doing something that might not even work, bearing all the uncertainty and anxiety involved in it.

So if you’re still set on making wealth creation work for you. If you earnestly desire to live a better life and let your loved ones do the same…

Then keep reading, this is for you! Soon you’ll now how to make money from home or anywhere else!

Step 1 – Understand why you’re doing it

When it comes to wealth creation, most people fail at it because they go about it the wrong way.

They focus on how to generate income, the techniques, and all the hot new methods that are trending worldwide (drop shipping and what have you).

What they forget is WHY they’re doing it in the first place. The “why” is your source motivation. It’s the fuel that drives the car called “wealth creation.”

That’s why the ones without the fuel just sit in the car flailing their arms and never getting anywhere.

By knowing your “why” you’ll always arrive at the “how” naturally, just like this blog post. The trick here is to always remind yourself of that reason.

Since you’re already reading this blog post, you know “why” you’re interested in wealth creation.

So write it down and put it in a place where you can always see it. Revisit it every day to keep your motivation high, which will also set you ahead of most people!

creative ways to make money

Step 2 – Embrace change in your life

This is the most unpleasant step for anyone who pursues wealth creation. Why? Because people are resistant to change by nature.

You resist new ideas and fear the unknown, so you much rather keep to things you already know and feel comfortable with. Like your current life.

This is the most common reason why people fail at wealth creation. They want to get rich by being who they are right now and using what they already know.

The uncomfortable truth is – you live your current lifestyle because of who you are and what you know. You’ll never get rich without changing, because getting rich by definition is changing.

Always keep an open mind to new ideas and be prepared to change. If you change, your life will change alongside you.

 

Step 3 – Ingrain in yourself the core principles of wealth creation

The two core principles of wealth creation are as follows – reducing expenses and increasing income, in that order.

Why in that order?

Reducing expenses goes first because people easily lose self-control when it comes to money.

So it’s quite common to see people spend as much money as they earn. That’s why nothing ever changes for them.

They splurge on hobbies, buy things they don’t need, have subscriptions they don’t really use (people who still order the newspaper, I’m looking at you!).

This also happens when running businesses. You keep pumping all the money you earn back into your business, hoping it will grow even bigger, but is your life actually improving?

Or are you at the mercy of a money-inflated bubble that could pop at any time?

My point is, by spending less money, you’ll have more money to work with. Then you can spend money on improving your skills or knowledge that will increase your income. Books, courses, seminars are your best bet!

When you realize how valuable your new knowledge/skills are, suddenly, it’s not an expense anymore, but an investment because.

No one can ever take knowledge and skills away from you, so when you invest in yourself, you never lose!

ideas to make money

Step 4 – Stop worrying about money. Become a time wizard instead.

Time is the universal currency you and everyone else has. And each day you have the same amount of chips – 24 hours or 1440 minutes or 86,400 seconds.

How well you use that time is how effective wealth creation is for you. And successful people are absurdly good at that, to the point they can be considered time wizards.

While effective time management and nifty productivity tools help quite a bit, being a time wizard goes a bit further than that. It’s more like a different perspective on time in general.

You see, since the dawn of humanity, there’s always been a price tag on time. While you can’t pay to make your day last longer, you can pay to get other people’s time, whether it’s in the form of labor or products.

Here’s an example:

Let’s say you always wash your dishes by hand. That’s about 30 minutes each day give or take, depending on how many people live in your household.

This totals to 3 hours 30 minutes per week or 14 hours per month. If you earn $10/hour at your job, that’s $140.

If you buy a dishwashing machine, it will have paid itself off in 2-4 months, depending on the price.

All because you don’t have to wash dishes anymore. You simply bought more time for money, leaving you time to do more important things.

And this can apply to just about any aspect of your personal or professional life. You just need to identify where you can use the money to get more time and vice versa.

This is what successful/rich people do. They optimize the living hell out of their lives and just spend their days doing nothing atop their golden wizard towers.

 

Step 5 – Create a focused and bulletproof plan

There’s a great quote from Antoine de Saint-Exupéry that’s always stuck with me:

“A goal without a plan is just a wish.”

So you know your “why” (refer to step 2), but before you arrive at your “how” we first need to stop at the “what” station for a bit.

The “what” is something that shatters many people on their path of wealth creation. Mostly because there are so many ways you can make money and generate passive income.

And that’s a great thing! But it’s also a really intimidating thing. So much to choose from, so much to do, and so much to learn.

The path to success is a razor sharp edge, but our limitless possibilities is what shoves us onto the vast plains of indecisiveness.

Much like step 2, you need to write your plan down somewhere. Start by writing what you’ll do, what type of niche, and what type of product.

The main difference here is – your plan will grow alongside you. Each time you learn something new or whenever you have a new idea, just revisit your plan and improve it.

If you’re having trouble choosing, don’t worry! Here’s how to beat your indecisiveness. Do some research first. Then forget it about for today.

Next morning, right after waking up immediately start writing down a general outline of your plan/niche/etc.

The trick is to do it while you still haven’t fully woken up, so your subconscious or intuition does the thinking for you.

Then you just go about the motions of improving your plan. And it actually gets more fun the more you do it.

how to make money online for beginners

Step 6 – Make a habit out of learning new knowledge

So you believe you’ve mastered your business and all the knowledge surrounding it. That’s great and all, but it’s a very limiting perspective that will inevitably kill wealth creation for you.

Why?

Because “a true master is an eternal student.” But this sentence’s true meaning is lost on most people.

You see, the human world is constantly changing, evolving, and improving. And all the knowledge available to us is expanding as well.

Think of it as a tower that only gets taller as time passes. You can choose to think that you’re at the top of your tower, but before you know it, you can’t see the sky anymore. Or rather, you don’t have the vast understanding you had before.

The gist of it is, keep learning new knowledge so you don’t get left behind, but it goes a bit further than that.

Your current knowledge and expertise is your tower, but there are thousands of towers more. While all of them let you see the vast sky of understanding, how you view it depends on the tower you’re standing on.

New knowledge will always give you a new perspective. That’s the hidden trick for gaining creativity.

The more knowledge you have, the more creativity you’ll have, and the less obstacles you’ll have. Both in life and wealth creation.

That’s what successful people understand the best. And that’s the reason why people like Bill Gates read a new book each week.

Not because they want to arrogantly shove it in the plebs’ faces and inflate their own ego, but because there can be the least expected solutions in the most obscure books.

It’s like — the more you know, the less brain fog you have, and the easier wealth creation becomes.

 

Step 7 – Apply the things you’ve learned with an ingenious method

You might have learned tons of knowledge surrounding wealth creation, but somehow you still lack confidence to start doing it.

Some “gurus” and “experts” might tell you to just do it. Because there’s no better way to practice wealth creation other than just creating wealth, right?

Well, that works only to some people. Because what they’re suggesting is you force yourself into a swim or sink situation.

You throw yourself into the pool even though you can’t swim, so you either learn how to swim or just drown. That’s really not how it’s supposed to work.

So what options do you have?

You know how playing chess/shogi/go/etc develops tactical thinking. Board games like that were popular among aristocrats, military leaders, and intelligent people in general.

Not only it gives you a different perspective, but it also gives you knowledge, experience, and changes in your thinking methods that are useful in real life.

Now hold up, I’m not telling you to go play Monopoly. We’re living in the 21st century after all. So I’ve got only two words for you – video games.

Before you scoff at the idea, video games have evolved considerably since their inception in the 1970s.

While yes, we have the super simple Candy Crush games and its million clones, quite a few games are a lot more intricate than that.

This is especially the case in MMO (massive multiplayer online) games. They usually have massive virtual worlds with thousands, sometimes even millions of players, forming almost lifelike societies.

These games also have trading systems in place where players can trade resources and valuable items for the in-game currencies.

What I’m getting at here is, games that have these systems are a great place to practice any and all economic knowledge/concepts you’ve learned.

To further illustrate, even by using the simple concept of supply and demand, you’re way ahead of 99% of the players.

Like that time a player got banned on WoW (World of Warcraft) just because the developers thought he was cheating to get all his gold, when in fact he just played the market.

The more advanced concepts you use, the more you can exploit and even control an in-game economy.

It’s the type of environment you can get valuable experience, and most importantly, confidence. So you can walk the path of wealth creation with your head held up high!

how to make extra money on the side

Step 8 – Create more than one source of income

The favorite number to most people is “one”. One life, one job, one family, and so on, which is perfectly normal and admirable.

When it extends into “one source of income,” that’s when things start going bad, especially if wealth creation is your goal.

You’ve probably heard stories of long-term employees getting fired due to downscaling. They had no contingency plan or backup, so they can’t pay their loans anymore.

Their spouses leave them, their families fall apart, and they find themselves living out in the street. And, in most cases, it’s impossible to recover from that.

Imagine if they had another income on top of their job? Like a passive income from a savings account?

Their lives would be largely unaffected, allowing them to slowly replace what was lost. They’d pat themselves on the back for finding wealth creation.

Their spouse would love them more for how dependable they are. And their lives would be so much better in general.

But they never do that and end up in a freefall, go figure.

So back to my main point, once you create one source of income and it has stabilized, work on setting up a new one.

If one of them goes up in flames, you’ll still have the other one. And the more sources of income you create, the safer you’ll feel and the better your life will be. That is the epitome of wealth creation.

 

Step 9 – Enjoy life

The most important step in wealth creation is to enjoy life. It’s not a step you take towards wealth creation, however. It’s a step you can take because of wealth creation.

Imagine a life where you could wake up whenever you wanted. You could work when AND if you wanted to. There weren’t any debts or loans you’d have to worry about.

When you check your bank account, there’d always be enough money to comfortably live for the next ten years.

And each day was simply filled with wonder, excitement, and the joy of living, just like when you were a kid.

Best of all, you can let your family join you in that lifestyle. Today, tomorrow, next month, next year, and for the rest of your lives.

That’s your destination, wealth creation is just a journey to get there. And if you truly want that kind of life, if you absolutely want to make sure you get there…

There’s only one way to ensure you success – The Empowered Method.

It contains all the tips, tricks, hacks, and knowledge to make your wealth creation journey a comfortable, and successful one.

Especially if you’re determined to find out how to earn money without investment! (just click on the book below to find out more!)

The Empowered Method

That’s all for today, I hope you enjoyed reading! If you have any wealth creation tips or strategies, feel free to share them in the comments!

That being said, see you on the next blog post!

 

P.S.
Here are two realistic strategies from Dustin Tibbitts you can use to get started on wealth creation today: