You don't need money to start your journey towards the life you want to live, only knowledge.
Step 1 Assemble your assets
Before you start heading in any direction you need to figure out where you are. The first step is to assemble and maximize your assets while identifying and reducing liabilities. You might have an income, a computer or car you can use. In contrast, maybe you know you spend too much on online shopping. With a small amount of capital a lot of people fall into the trap of trying to find a stock or cryptocurrency to get rich quick. But there is something else you can invest in that will make you a lot more money in a lot shorter period of time; investing in yourself.
Net worth: -$2,000
Step 2 Capitalize on your value
In capitalist society you are paid based on what you bring to the market; the value you provide. This value is determined by the market, for example a doctor is more important than a footballer, however footballers are paid more.
The best way of capitalizing on your value is to leverage new or existing connections. One great way of doing this is using the free to fee method. When looking for opportunities try to find the one where you can learn the most, not earn the most.
A great habit to get into is going above and beyond what you have promised, leaving a great impression. Building a good reputation means you won't have to market yourself. Another way to maximize your value is to niche down, a rarer skillset can demand a higher price.
An important mindset to have at this stage is one of abundance. Most successful people believe that everyone can be successful, there is no limited amount of money, wealth, success or jobs available for anyone with a trained eye who works hard.
Net worth: $60k+
Step 3 Creative passive income
Just because you have more money now doesn't mean you start splashing it on liabilities. It is important to continue buying real assets that can make money for you. There are plenty of people who work very hard and earn a lot of money but spend it all. This doesn't mean you don't treat yourself, but have assets that generate the money first. Continue developing your skills or expanding your business as you accumulate assets.
Net worth: $150k+
Step 4 The compound effect
Compounding is like rolling a snowball down a hill, as your assets continue to generate money and you reinvest this there may come a point where you don't even need your job. It's important to note here that once one passes the wealth needed for necessities and comfort, money no longer increases happiness in any way. A solid financial setup is just a way of unlocking the potential to spend more time on the things that matter most in life.
Net worth: more than enough