7 Simple Rules That Will Make You A Millionaire

Posted in   Wealth Building   on  January 24, 2023 by  Money Bren0

Nothing in this article is financial advice. The writer is not your financial advisor. Investing contains risk and you can lose money. Consult your own professionals before making investment decisions. This article may contain affiliate links. 

Buy Things That Go Up In Value

One of the simplest rules of building wealth is to only go into debt for things that go up in value.

However, you can extend this to simply buying things that go up in general, with or without debt.

When you accumulate assets that go up in value, your net worth naturally increases on its own.

Your money gets spent on things that turn into even more money, rather than things that turn into zero.

If you focus your efforts on buying appreciating assets, rather than just things, your entire wealth journey will start to change.

Things that go up in value

Things that go down in value

Investment properties




Term deposits




Precious metals





The average millionaire reads at least two books a month.

Books allow you to:

- Learn from the best

- Learn from others successes

- Learn from others mistakes

- Learn quickly

The reason millionaires are devoted readers is because they understand the more you learn about a subject, the more likely you will be successful at it.

It's also a way to learn about new skills or topics from people who are experts.

There are literally hundreds of books written by multi-millionaires explaining in step-by-step detail exactly how they made their fortunes.

If you want to be a millionaire, why haven't you been reading them?

Success and reading go hand in hand!

Multiple Streams Of Income

The average millionaire has 7 income streams.

Think about your regular paycheck, and try to imagine instead of receiving it just once each payday, you receive it seven times.

How much faster would you become a millionaire?

This is exactly how some people appear to build wealth so quickly.

They are accumulating assets seven times faster than you!

Having seven income streams doesn't mean having seven jobs.

There are many side hustles and businesses you can do in your spare time or just a few days a week.

For example:

- 9 to 5 job

- Rental income

- Dividend income

- Interest income

- Driving Uber

- Dropshipping

- Matched betting

- Flipping

- Vending machines

- Crypto

- Freelancing

Even an extra $500/month on top of your 9-5 job can be the difference between retiring at 45 and retiring at 65.

Avoiding Lifestyle Inflation

Lifestyle inflation is when you allow your cost of living to rise over time as your pay increases.

For example, when you get a payrise, you move into a nicer apartment.

Next payrise, you upgrade your car.

Next payrise, you start buying a more expensive wardrobe.

The key to accumulating wealth quickly is to continue living the same lifestyle even as your wealth grows.

For most people, life looks like this:

Earn 40k, spend 40k

Earn 60k, spend 60k

Earn 100k, spend 100k

For a millionaire, it looks like this:

Earn 40k, spend 40k

Earn 60k, spend 40k

Earn 300k, spend 40k

Invest the difference.

This is how wealth is built.

Stay Out Of Debt

Most people aren't financially savvy enough to distinguish good debt from bad debt.

99% of debt is bad debt.

You should only go into debt for something that will go up in value.

All credit card debt, personal loan debt, layby debt, Afterpay debt is bad debt.

Building wealth while in debt will be impossible for most people.

Make paying off your debts a priority.

Work Harder And Smarter

Investing your money so it works for you is smart work.

But the combination of smart work and hard work will make you untouchable.

If 9-5 is for your job, 8-12 is for your side hustle.

Friday nights spent drinking are fun, but Friday nights spent reading will make you millions.

If you go out on the weekend, you might end up $200 poorer.

If you hustle on the weekend, you might end up $200 richer.

That's a $400 swing.

If you invest that extra $200 every weekend, it will literally add up to millions by the end of your life.

Have you ever met a broke workaholic?

There is no substitute for old fashioned hard work.


The most important skill for an investor to have is patience.

You cannot buy a property today and expect to sell it for profit tomorrow.

Assets take time to grow.

If you invest $1,000/month in an index fund, it will grow to a million in 30 years without requiring you to do anything!

However, if you take that money out after 5 years, it will only be $77,000.

The difference between a new car and a million dollars is simply being able to wait.

Keep investing, be patient.

Patience is the magic bullet.

Build Your First Million!

My free net worth tracker that I use daily is available to you, for free.

I've helped hundreds of Kiwis track their net worth, and grow it!

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