How To Get Rich And Stay Rich In Your Twenties


These days everyone is obsessed with getting rich. But what’s the point of getting rich, if you don’t stay rich? It’s all about cultivating the right habits. If you repeatedly make bad financial decisions you’re not going to get rich. And if by some miracle you do get rich (aka the lottery, or some sort of inheritance) then it’s likely that you won’t stay rich. So here are a few ways to take control of your finances, so you can get rich and stay rich right now in your twenties!

Make A Plan

You won’t get anywhere with your money if you’re spending or saving aimlessly. You need to have a goal, and a definitive plan to reach that goal. So let’s say your goal is to save $10,000. You should start by asking the following questions:

  • When do you want to save this amount by? (deadline)
  • How much money do you have coming in?
  • How much money do you have to spend each month? (bills)
  • How much money do you have left over?
  • What expenses can you cut out?
  • What’s left over after those frivolous expenses are removed?
  • Once you start analyzing your income, and what you’re spending it on, you’re better prepared to execute your goal.

Pay Off Small Debts

Every debt you have is a monthly expense. If you can eliminate that debt you can pocket that extra monthly payment. In this instance every little bit helps. If you have a $1,000 credit card balance, do everything in your power to eliminate that balance as soon as possible. Then take that payment and put it towards a savings account monthly.

It doesn’t even have to be a large balance. Even if you realize that you pay about $200 towards a credit card or small loan monthly, that’s still money that you’re losing. The important take away is that you eliminate that debt, and reroute that monthly payment to a savings account. Even if that payment is going to be $20 a month, that’s $20 more than you would normally save.

Get a Side Hustle

This is basic knowledge. If you want to get rich you have to bring in more money. Figure out how you can make more money from an activity other than your full-time job. That could be waitressing, photography for friends, freelancing, blogging, consulting. I started this blog as my side hustle a little less than a year ago, and I am already making a small income off of it. This website has also afforded me a millennial consulting position with a very reputable company.

Now I have 3 sources of steady income, and a fast-growing savings account. Put yourself out there, find something you’re good at, and I promise someone will pay you to do it.

Just Say No

“Let’s go to the bar!”


“Let’s go on a boat cruise!”


“Let’s go to dinner!”


It’s so hard saying no to friends, but you really have to. Going to the bars, clubs, going out to eat they all cost money, and it adds up quickly. Think about it: uber, cover, drinks, more drinks, that point when you’re super drunk and you buy drinks for everyone, drunk eating, uber home. All that is probably going to add up to at least $80. AT LEAST.

You have to make the decision to skip out on a few activities to save money. But, if saying no is not your thing offer alternatives! Like eating in at a friends place, watching movies on Netflix, going to a free park. There are many low cost to free activities you can do with friends.

$ave $ave $ave

I’ve been discussing this throughout this post. But saving your money is vital. You need to become a money hoarder. I was not always the best at saving my money. I love to online shop, and no matter what I did I just couldn’t seem to save my money. How did I change? I implemented the above actions, and my savings account grew so fast.

Once you break $1,000 in your savings the rest comes so easy. I personally treat saving money like a game. I enjoy tracking the growth of my savings account. The more you enjoy saving, the more you actively save your money.

Automatic Transfers

One thing that turned my bank account around was having the bank automatically transfer money from my checking account to my savings account. That way I began building wealth without having to make the conscious decision.

Setting up automatic transfers allows you to save more money in less time because it is consistent. Automatic transfer is the easiest most straightforward savings tip I can give. Do it!

Online Banking

Now that you’re implementing all of the above tips you need to track your growth! There are so many apps out there that allow you to track your spending. I personally recommend using the Mint app. It tracks how much you spend weekly. It shows you what you’re spending your money on: food, clothing, movies etc. You can also include any saving goals that you’d like to reach. It’s a really great app designed to motivate and keep you on top of your finances.

I also have the Bank of America app. It allows you to quickly shut off any cards if you lose frequently (like I do). You can quickly and easily transfer money between accounts. It’s just a staple app that I think every Bank of America member should have.