Money makes the world go round, so it’s pretty distressing and difficult to not have it. Unfortunately, making a fortune seems like a well-kept secret, but in the 21st century, enterprising people can really just learn anything online.
One netizen decided that the best way to learn about making money was to ask people who already had it. So they asked the wealthy people on the internet for some more obscure ways to make money and they delivered. So get ready to take notes as you scroll through and be sure to upvote your favorites. Comment your own ideas and thoughts below.
#1
If you start your own business the best thing you can do is be a great boss. Not an okay boss, not a good boss, be a great boss.
My family has a small business, we work on pools. We do everything except build them. My dads my boss and he’s the best boss I’ve ever had. He actually listens to his employees and takes their recommendation on how to finish jobs as gospel. The average starting wage for a basic pool cleaner in our area is $12. My dad starts off at $19 with no prior experience.
He gives out raises twice a year by the dollar or dollars, not pennies and quarters. Gives paid days off, gives 3k-5k bonuses around Christmas, and tries to work around their schedule since most of his employees have families. The employee turn over rate in the pool business is extremely high, I think every 2-3 years in my area the last I checked. He has 2 employees who have been with us since before I was born and I’m 24. He listens to them and drops customers we don’t like without question.
Last year he hired a new guy with some experience and sent him out to clean up a few pools after a storm. Later that day a customer my dads had since he started the business, over 30 years ago, called and said they don’t want a black man in their yard. My dad immediately said f**k you in the most professional way you can and hung up. (I know this situation is more about being a decent person and not a great boss but I still love this story.)
He’s training me to take over in a few years and constantly tells me to not only be worried about feeding 1 family (ours) but I have to be worried about feeding 9 families (we have 8 employees.)
To me, being a great boss is one of the best ways to run a successful business and become wealthy.
To me, being a great boss is one of the best ways to run a successful business and become wealthy.
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230points
#3
I’m a millennial and stopped eating avocado toast. I am now vastly wealthy.
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136points
During depressing times, one might wonder if the world was a better place before we all started passing around bills or coins to buy goods and services. The reality is that one could very easily be in debt before money had ever been invented. Many people know about early barter systems, but most overlook the fact that these systems often facilitated and commonly allowed one to trade future items or labor as a form of debt.
The result is that someone can actually be fully in debt in a society where no one actually uses or has ever heard about currency. This, somehow, seems like it would be worse than many modern forms of debt where one can at least sell something to get by.
#4
I got a summer painting job at 16. Realized I was good at it and enjoyed the work. Stuck with the same company for long enough that I could honestly consider myself an expert. Started my own painting business and failed because I had no idea how to run a business. Went back to work with the original company and studied business on my own. Formulated a plan. Saved up 10k to start with and dove in again.
I grew that into one of the most popular painting businesses in my area. We then expanded into drywall, finish carpentry and specialized finishes. We are now planning an expansion into the cleaning industry as well. What started out as a summer job has turned into a career that allows me to live a fun life and set my own schedule.
My best advice is learn something about business. Find a field you’re confident in. Start a business in that field. Be financially responsible but take calculated risks to grow and don’t allow the fear of failure to hold you back.
109points
#5
One thing a lot of people overlook in their financial planning is to have rich parents.
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108points
#6
As mentioned above, when you’re making money… pretend like you’re not. I’ve possessed this mindset since 2020 and am the most financially secure I’ve ever been. Spend less than you earn — it can be so much simpler than people make it out to be. Creating a budget spreadsheet of your weekly/monthly expenses can be super helpful too.
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87points
Of course, many of the people in this thread gave similar advice. Don’t spend more than you have is common sense, but the advent of credit cards and “easy” credit, in general, has caused many a bankruptcy (and even a whole financial crisis) as people underestimate risk and overestimate their own income.
#8
My great uncle was a pretty wealthy individual. His advice?
"When it comes to finances and making money, I only listen to those who have more of it than me."
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68points
#9
Stop spending all your damn money. Literally everyone I've talked to who complains about being poor has a car payment, lives in a house bigger than me, takes vacations a couple of times a year, eats out on the regular and buys all kinds of stuff they don't even need or really want. They hemorrhage money just on everyday expenses. Meanwhile I'm driving a beater (that is paid for) and I live in a very modest house (that my friends mock me for and tell me I'm living too far below my means). I eat out maybe once or twice a week and by eating out I mean a meal at a drive through. I'm not spending $100 on steak dinner. I pinch every penny and can easily go 3-4 days or longer without spending a dime. Shockingly I have more money than them which I invest.
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65points
Sometimes, one can be overexposed to money and money-related topics throughout the day. There is really no way of getting away from it in this day and age. It’s a topic so ubiquitous that some activists have formed a “Free Money Day” where participants literally give random people on the street some bills or coins. The money given away is not life-changing, but the idea is to stimulate discussions about the role of money in society.
#10
Live under your means and start saving early. Compounding is your friend.
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65points
#11
Not sure if you would consider me "wealthy" but in my mid 50s, I have no debt and a house and 2 cars that are paid for.
How did I do it?
Well, I saved like mad, drove used cars, brought my lunch to work every day to save money, never took big fancy vacations and do not buy many luxury items like expensive clothes, watches or luxury cars.
I shopped at Goodwill and thrift stores and bought most of my furniture second hand and re-finished many pieces. Never bought steak or fancy foods at the grocery store, either.
I often bought nice used cars or trucks and paid them off in 4-5 years and drove them for another 4-5 years while saving that car note money or using that money to help pay my house off earlier. My current pickup is 5 years old and my car is 7 years old but both are now paid for and still in great working shape.
Living below my means, while not really making what I consider a high salary, is pretty much how I did it. Not easy to do in this hyper-consumer world. You have to be willing to do with less or without certain things NOW, so you can have an easier life later on. In my mid-50s now and damn am I glad I did this!
I am now surrounded by peers, relatives and friends in their mid 50s that did the opposite and they STILL have tons of debt, car notes and a long ways to go in paying off their houses. Now they LOOK wealthier than I do, but in the end...who really is more "wealthy?"
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56points
#12
Networking is really a thing, it's f****d up but the more people you meet that are dojng something and we'll of the more opportunities you will get.
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45points
Of course, “stimulating discussions” don’t pay the bills, as most people can guess. Hence the question to people with money is, how does one get it? While it makes sense to “go to the source,” these days, more and more money is inherited, not necessarily earned. While a person living off family money is by no means automatically less intelligent than someone else, they might not be the best source of information for how to get there from zero.
#13
Depends on your definition of wealthy, but the simplest way - Do well in your exams, choose a lucrative field of study at university, intern at a reputable company and you’ll do very well following graduation.
The other biggest tip I have is to know your worth. If you’re being undervalued, find employment elsewhere. Loyalty to an employer that doesn’t respect you is a fools game.
43points
#14
I wouldn't say I'm wealthy but I left school at 16 with no qualifications, at 19 I ended up working for an insurance call centre as a call handler, soul crushing work for £15,000 a year.
Did that for 2 years, became a complaint handler because I had a natural ability at handling angry customers. So bumped up to £17,000 a year
Started to get pretty well known as I was now on a smaller team and working with more managers. Then a job opportunity came up for the audit team, I thought f**k it the interview would be good practise, somehow I got it mostly because of my reputation, that bumped me up to £30,000
Did that for 6 years, got a lot of experience dealing with stakeholders, execs, project work.
A job came up for a specialist project lead, I was not qualified but decided to take a punt, why not. They were very interested in me despite not being qualified and landed an £80,000 salary
From no qualifications to bringing home £4500 a month after tax a month I think is pretty good.
I guess it's all about getting involved in the right company, networking and just moving forward anyway you can and taking chances on promotions and opportunities even if you don't think you're qualified, if they are interested in you as a person they'll make it work
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34points
#15
Cut out the waste. It’s not how much you make, it’s how much you keep. Too many people start making the good money and start to show off. Fancy clothes, fancy car, expensive house. All their money is going to interest and waste.
The wealthiest people I know don’t flaunt it. They’re some of the cheapest people I know, because they didn’t get rich by wasting money. You couldn’t tell it by looking at them, because their money is in the bank, not on display.
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33points
This trend is more and more present if one digs around enough, to the degree that some journalists have labeled these people “nepo babies.” Many famous actors, actresses, musicians, and other creatives, it turns out, have parents in the industry or are just wealthy enough to buy their way in. But in the pre-modern era, nearly all wealth was inherited, so don’t give up.
#16
I've never considered myself wealthy, but I did buy my first home before I was 30 so I guess that makes me wealthy.
I think seeing real demand is something that is often overlooked. A lot of the time (especially young) people are trying to get rich in ways they see other people getting rich. They're learning coding to make the next killer app. They're starting up Youtube/Twitch channels to try and build an audience.
**People who get wealthy (other than generational wealth and executives of larger corporations) see a demand that needs to be filled and fill it.**
Simple thing, my wife's great grandfather found out that there was a demand in the oilfield for wood shavings and they were paying a fairly sizeable sum for it. He went to every single wood mill sweeping wood chips and shavings off of the floor and then putting them into boxes. The wood mills were happy to get rid of their garbage for free and he was happy to sell this stuff for an absurd price. Once the wood mills realized that there was money to be made on shavings they gave him an exclusive contract and now all he had to do was come pick them up. Before long he had pick up and delivery men and a small shipping fleet. He sold his company, retired... bought a plane... and then died. Even today his surviving family members are still incredibly wealthy.
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28points
#17
To me... this is the most overlooked way to earn money and become wealthy:
“Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it."
It isn't fast. it isn't sexy, it takes many, many years before you really see the fruits of your labors. but if you can figure out how to stay away from consumer debt, especially on things that deprecate in value... while maximizing investments in things that bring value... you can become "wealthy" even with a fairly modest income. If you start investing consistently and modestly at age 20, you will have a significant amount of money at age 45, and millions by the time you hit your 60s. If you start at age 45, you can enjoy life, and still have a nice nest egg at age 65.
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25points
#18
Location. We made most of our wealth being the only Hardware & Marine store on a a small island.
25points
#19
I’m not wealthy however I grew up with my needs met however on and off welfare and am now middle class - so I have jumped up an economic class.
What has helped me has been recognizing that nearly every minute of every day - when I leave the house, when I use my phone, when I watch TV, someone is trying to take my money from me via advertising.
Once you really think about it, if you have shelter, food, a bed, clothes and shoes, a mode of transport and your medical needs taken care of - you don’t really NEED anything else.
Don’t let yourself get brainwashed into buying stuff you don’t need!
So forgoing useless extras you can save your money to improve your situation, such as education (you don’t even need to go to a fancy college, a community college is a fine place to start). Or even spend money on what you truly value, like travel.
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25points
#20
I’m not wealthy by western wealthy standards, but I grew up in poverty and now own a home in a very expensive city, have lots of money in both retirement and regular savings, and have no debt. I started saving for retirement when I was 20. Any time I get unexpected money, I buy myself a small treat and tuck the rest away. I allow myself a set amount each paycheque to spend mindlessly, and the rest gets saved. I drive a 20 year old vehicle, have a 5 year old phone, buy stuff second hand, and limit myself to a lunch or coffee out once or twice a month.
Maybe this is more about saving money than earning it, but still useful info.
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24points