We’re not going to lie, this is a really big topic to try and cover in a 2-minute read. Full disclosure: we’ll probably only touch on the basics. Luckily, we’ve got tons of content here and here to keep you going!

Now that’s out of the way, let’s get into it. The first thing you should know is that there is no legitimate way to make millions overnight (unless you’re a Powerballer). Growing your money takes patience, but depending on your methods you can still reduce the overall time. We’re still talking a few years for meaningful growth, but it could be the difference between 10 and 40 years.

The way we see it, there are three basic ways to grow your wealth. Earn it, save it and invest it.

Earn it

This part is a bit tricky. There’s only so many times you can ask for a raise within a year (but ask you should!), and you only have so many hours in the day for side hustles and freelance work. We don’t want you burning out, so make sure your goal is achievable. You can speak to a financial advisor to figure out what that goal looks like (buying a house, retiring at 40, etc.) and start hustling to reach it. Take on some freelance work, sign up to be a house sitter, do odd jobs, join a business networking group, monetise your hobby... There are countless ways to supplement your income, you just have to figure out what you’re willing to do, and how much time you can dedicate to it without stretching yourself to breaking point.

Save it

This is the easiest part because it’s where you have the most control. How much you put away every month is totally up to you, and there are quite a few effective strategies out there that will let you pinpoint the exact right method for you. Google ‘savings challenge’ and you’ll find fun social media groups that will offer you support while you save as well.

For the most part, you just have to change the way you think about your money. The money from your side gigs, tax returns, inheritances, lotto winnings, etc. isn’t free money that you can spend on whatever (well, you can, but that’s not what we’re talking about here), it’s extra money that can be saved and grown for your future or bigger goals.

Invest It

So technically this point is also about saving, but we’ve kept it separate because it’s about the way you’re saving. Your options here are almost countless. You could go high-risk, low-risk, tax-free, unit trusts, retail bonds, stokvels… The sheer number of choices is pretty intimidating, so it’s a good idea to do some thorough research. Talk to a financial advisor, ask friends and family and trawl the internet for tips to determine what’s best for you. Factors like your age could also affect whether low or high risk investments will benefit you more.

If all that seems a bit lame, sorry but also, not sorry. Internet pop-up ads and articles about 21-year old “self-made” billionaires (who started with millions, but hey 👀) have lied to you. There’s no trick, your friend’s dodgy investment opportunity is probably a bad idea, and all pyramid schemes are a scam. All of them.

Most of us will have to work hard and save smart to achieve our wealth goals, but with the right mindset and motivation, it won’t be as difficult as it seems right now.