How to Get Rich With No Money in 17 Steps

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Looking at your bank account and wondering how to become wealthy with no money? That feeling of being stuck with nothing saved—or worse, drowning in debt—is overwhelming. But plenty of people have started from zero or below and still managed to build financial security. Wealth doesn't happen overnight. It accumulates through steady choices made over months and years.

Small, consistent actions add up to real change. You don't need a massive salary or a windfall to begin. What you need is a clear plan. This article covers 17 practical steps to help you set goals, manage your money effectively, boost your income, and use accessible tools to start building wealth from wherever you are right now.

1) Develop a Wealth-Building Mindset

Learning how to become wealthy from nothing requires how you think about money. See it as a tool you can learn to use, not some distant goal. Your mindset shapes your habits, and those habits determine your outcomes.

People who build wealth from scratch see setbacks as lessons, stay curious about how money works, and make uncomfortable changes when needed. The more you learn about budgeting, investing, and credit, the more confident you become. Lifelong learning is the foundation everything else builds upon.

2) Set Clear Financial Goals

The first thing you’ll want to do is define your short-term and long-term financial goals.

Setting intentional financial goals is key to achieving success. It gives you something to aim for and helps you stay motivated and focused. Plus, that way, you can prioritize what you need to focus on.

For example, a short-term goal might be saving $500 for an emergency fund., while a long-term goal could be saving for a down payment on a home. Make your goals realistic and measurable using the SMART framework—Specific, Measurable, Achievable, Relevant, and Time-bound.

3) Create a Budget

Next, you’ll want to develop a budget that outlines your income and expenses.

One simple approach is the 50/30/20 budget. You’ll spend 50% of your monthly income on necessities, like groceries and housing, 30% on wants, like a night out or a Hulu subscription, and save 20%. You can put that 20% into a checking or high-yield, where it can accumulate interest. Over time, that savings can support both short-term goals, like building an emergency fund, and long-term ones, like investing.

Other approaches—like zero-based budgeting, where every dollar is assigned a purpose, or the envelope method, which uses cash for different categories—can work better depending on your habits and preferences.

Creating a budget will help you organically make better financial decisions and potentially identify areas where you can cut costs.

Check out our favorite budgeting apps!

4) Save and Live Below Your Means

To accumulate wealth, you need to save money consistently. It sounds basic, but there’s no way to build wealth if you have more money coming out of your account than you have coming in. Living below your means is what creates the surplus you can save or invest, and that surplus is where long-term financial security starts.

Set some time aside to sit down and review your bank and credit card statements. (I know – if you aren’t in the habit of doing that, it can be really intimidating. Pour yourself a glass of wine, light some candles, put on some music – do whatever you need to create a calming atmosphere. You’ll be fine.)

Make sure that you’re aware of how much money is going into your checking account and where you’re spending it. That awareness is key to making smart financial decisions. Even small adjustments make a difference—cutting $100 in monthly expenses adds up to $1,200 a year that you can redirect toward savings or use to pay off debt faster. If you’re carrying balances, check out resources on how to pay off debt fast so you can free up even more room to save and invest.

Practice Frugality and Intentional Spending

For those who want to know how to become rich with no money, intentional spending is critical. The FIRE movement (Financial Independence, Retire Early) focuses on saving aggressively by being deliberate about every dollar. Simple changes add up fast. Cook at home instead of ordering takeout multiple times a week. Negotiate lower rates on internet, phone, and insurance. Cancel forgotten or rarely used subscriptions. These moves can free up hundreds monthly. Frugality means spending money on purpose, not cutting out everything you enjoy.

5) Use Technology to Simplify Money Management

When you’re learning how to get rich from nothing, automation can make a big impact as it handles the heavy lifting for you. Set up recurring transfers from checking to savings or investment accounts so the money moves before you're tempted to spend it. Budgeting apps track spending in real time and categorize expenses, helping you avoid common financial errors like overspending or missing payments.

Micro-investing platforms and robo-advisors let beginners start with as little as $5, building diversified portfolios based on your goals. These tools offer security through encryption and keep you consistent with reminders and progress updates.

6) Increase Your Income

If you're figuring out how to become a millionaire with no money, look for opportunities to boost your income, such as using side gig apps, finding part-time jobs, or working on skill development. Even a modest increase like an extra few hundred dollars each month creates more room to save, pay down debt, or invest. When you pair higher earnings with conscious spending, that extra money directly accelerates your progress toward long-term financial goals.

Read our blog for practical ways on how to make an extra $1000 every month!

7) Build Credit and Eliminate Bad Debt

Your credit score affects how much you pay to borrow money for a car, home, or emergency, and gives you more options when you need them. If you're building credit from scratch, start with a secured credit card. Make small purchases, pay the balance in full each month, and check your credit report regularly. Learning how to use a credit card responsibly builds your score over time.

If you're carrying high-interest debt, tackle it strategically. The avalanche method pays off the highest-interest debt first to minimize total interest. The debt snowball method targets the smallest balance first for quick wins. Either works as long as you stay consistent and free up money for savings.

If you feel like you’re in too deep to pay down your debt on your own, we recommend these debt relief and consolidation options. 

8) Invest in Yourself and Build Skills

While side gigs boost income quickly, investing in yourself builds sustainable wealth over time. When you're exploring how to get rich with no money, developing marketable skills is one of the most accessible paths forward. New skills raise your value in the job market, help you negotiate higher salaries, or launch better-paying side hustles.

High-income skills like coding, graphic design, digital marketing, data analysis, and project management can be learned at low or no cost. Trade certifications in plumbing, HVAC, or electrical work also offer strong earning potential. YouTube tutorials, Coursera, LinkedIn Learning, community college programs, and library resources make education accessible. The more you know, the more you can earn, and the faster wealth builds.

9) Explore Passive Income Streams

Warren Buffett said it best: "If you don't find a way to make money while you sleep, you'll work until you die." Passive income doesn't mean effortless income, but it does mean creating systems that generate revenue without trading your time for every dollar. If you're figuring out how to become rich from nothing, start with low-cost passive income ideas that use free tools or skills you already have. Examples include affiliate marketing, selling digital products like templates or courses, blogging with ad revenue, or earning dividends from stocks.

For more strategies on growing wealth over time, check out how to build wealth through consistent habits and smart planning.

10) Create a Financial Safety Net

An emergency fund is a financial safety net. It’s there for when life’s unexpected—and often unpleasant—events pop up. Like, your dog gets sick and you have to pay the vet bill. Or you pop a tire and have to buy a new one.

Having a well-stocked emergency fund allows you to cover those expenses without jeopardizing your financial security.

If you don’t have an emergency fund at all, prioritize building up $1,000. Over time, aim to have 3-6 months' worth of living expenses in a readily accessible account so you can be financially prepared for anything.

11) Save for Retirement and Invest Wisely

It can be easy to put off retirement savings. When you’re young, it seems far away, and when you’re older, other things seem more pressing.

But you need to take care of your future self. Your retirement savings need time to grow. For those wondering, “but how can I become rich with no money?”, starting early will help you get ahead faster than putting a lot of money into your retirement accounts later in life. 

Index funds and ETFs offer diversified market exposure at low cost. Robo-advisors build and manage portfolios automatically based on your goals. If your employer offers a 401(k) match, contribute at least enough to get it—that's free money. While there is a difference between a Roth IRA vs. Traditional IRA, both provide tax advantages that help your savings grow more efficiently. 

Most importantly, focus on consistency over timing the market. Steady contributions over time beat chasing trends. For more guidance, check out our investment strategies for beginners.

12) Use Taxes to Your Advantage

Claim all eligible credits like the Earned Income Tax Credit (EITC), Child Tax Credit, or education credits. If you have a side hustle, deduct business expenses like supplies, mileage, or home office costs to reduce your taxable income.

Use tax refunds strategically. Put them toward high-interest debt, your emergency fund, or investment accounts. Legal tax planning means claiming what you're entitled to and making choices that maximize your money. 

13) Build Support and Social Capital

Building relationships and community is often overlooked, but can be just as valuable as money itself. Join professional groups in your field, show up to local meetups, or participate in online finance communities where people share strategies and hold each other accountable.

These connections create tangible value. A peer might share a salary negotiation tactic, while a mentor could introduce you to a side client. Relationships build on themselves, creating compounding opportunities you can't access in isolation.

14) Avoid Get-Rich-Quick Schemes

Be cautious of any opportunities that promise quick and easy wealth. Building wealth is a gradual process that requires discipline, consistent effort, and patience.

Instead of jumping on opportunities that seem too good to be true (and probably are), do your research. Watch for warning signs like vague explanations about how profits are generated, testimonials that sound scripted, or business models that require recruiting others. Educate yourself on investment opportunities and pick ones that align with your goals. Slow, steady investing is safer and more sustainable than chasing shortcuts that usually only enrich the people selling them.

Check out our guide on investment strategies to find the perfect investment for YOU!

15) Educate Yourself About Money and Finance

Learning the basics—budgeting, saving, credit, debt management, investing, retirement accounts, and taxes—helps you avoid costly mistakes and spot opportunities when they appear. You don't need expensive courses to get started. Podcasts, YouTube channels, books, blogs, and online platforms offer affordable ways to build your knowledge over time.

Financial education isn't something you complete once and move on from. Knowledge compounds just like money does, which means the earlier you start learning, the more time you have to benefit from what you know.

16) Understand Assets vs. Liabilities

An asset holds or grows in value, like investments, real estate, or skills that increase your salary. A liability loses value or costs you money, like car payments, unused subscriptions, or credit card debt. If you want to know how to get wealthy with no money, choose assets over liabilities whenever possible. A certification that raises your income pays you back. A financed purchase that depreciates immediately doesn't. The more you spend on things that appreciate or generate income, the faster your financial position improves.

17) Continuously Monitor and Adjust

As you achieve different milestones and move through different stages of life, regularly review your financial goals and progress and adjust your strategies as needed to stay on track.

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How Do You Get Rich With No Money? Start With Dow Janes

Above all, be patient, be kind to yourself, and remember that your net wealth doesn’t determine your value.

Building wealth is a long-term journey. Stay focused on your goals, be disciplined in your financial habits, and be prepared to adapt to changing circumstances. Over time, your efforts and investments should help you steadily increase your wealth.

To hear more about one of our founders’ actual wealth-building journey and how she went from $40,000 in debt to building an investment portfolio worth over $1 million using our wealth-building system, check out our free Master Your Money class below!

[Check out our free financial course!]

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FAQ: How to Get Rich With No Money

Is it possible to get rich with no money?

Yes, it's possible to build wealth starting with nothing by focusing on increasing income, saving consistently, and investing over time. Wealth comes from disciplined habits and smart financial decisions, not from having money to start with.

How can I realistically get rich quickly?

You can't realistically get rich quickly—building wealth takes years of consistent saving, investing, and compounding returns. The fastest path is to increase your income, live below your means, and invest early in low-cost index funds from your retirement accounts.

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What is a silent millionaire?

A silent millionaire is someone who has accumulated significant wealth but lives modestly and doesn't display it. They prioritize financial security over status symbols, often driving older cars, living in average homes, and avoiding flashy purchases.