My 8 Money Rules That Will Make me Rich in 3 Years

How are YOU Scoring on these 8 Rules?

Everyone is talking about money these days, and we never seem to have enough of it.

The funny thing is — most people see money as a “problem”, while it’s actually something beautiful. It’s only when you truly understand money, that you will always have enough of it!

So, in this article, I will explore my 8 money rules that I am following to pave myself the way for wealth accumulation and financial freedom.

“I WILL BE FINANCIALLY INDEPENDENT IN 3 YEARS.”

What about you?

Photo by Zany Jadraque on Unsplash

First of all — why 3 years?

Simple, because I’m already working for a few years on this plan.

According to my calculations and prognosis, I should be financially independent in 3 years (after hustling for 4 years).

How?

How? — you might ask yourself.

I’ll give you a brief overview:

  1. I’ve invested in real estate, and my tenants are paying me more than my mortgages are
  2. I’ve invested a lot of money in crypto, gold and silver, and I believe it will go up significantly in the coming 3 years — which will allow me to a) partially pay off mortgages so I’ll pay even less and b) invest in more real estate
  3. My online businesses are growing every day (print on demand, writing, affiliate marketing and YouTube), which will bring me more and more money every month

Based on these 3 points alone, I believe that I can make it within 3 years, if not earlier.

Things change

Of course, things change, and times change. There will always be unforeseen things happening, so until I am 100% comfortable, I will always be on the lookout for new opportunities.

Currently, I am looking into starting a cybersecurity company because the government here has released some subsidiary measures to support cybersecurity improvement trajectories within companies. My plan is to build an assessment tool based on Microsoft technologies, do audits and improve their security.

Photo by Jefferson Santos on Unsplash

There are always and everywhere opportunities, you just have to be on the lookout.

That being said, let’s dive into my 8 principles.

For each principle, I’ll add how I’m exactly applying it to my own life and business.

1. Put your money to work

Money is meant to work, not to stay still.

These days — saving money means losing money! Because of the high inflation, the value of your money on your bank account is decreasing every day.

If your savings aren’t growing at a rate higher than inflation, you’re essentially losing purchasing power over time. That’s why it’s important to explore opportunities to generate returns that outpace inflation and safeguard your financial future.

Some of these opportunities that I use are:

  • Investing in real estate
  • Investing in ETF’s, stocks, bonds (but I don’t do that right now because things don’t seem to go well)
  • Investing in crypto (remember that Bitcoin was invented because / after the 2008 financial crisis, so I think this is a good choice). P.S. Not financial advice, do your own research!
  • Start your own business or invest in promising start-ups

Remember, putting your money to work requires careful research, risk assessment, and patience.

It’s important to understand the potential risks and rewards associated with different investment options. Consider seeking guidance from financial advisors or doing thorough market research to make informed decisions.

2. Amount of money retained matters

The amount of money you retain is just as important as the money you earn.

It’s not about how much you make, but how much you keep.

Here are some key considerations to maximize the amount of money you retain:

  • Create a budget spreadsheet: Implementing a budgeting system can help you track your income and expenses, giving you a clear picture of where your money is going. I literally keep track of EVERYTHING (I made a detailed spreadsheet about it)
  • Minimize unnecessary expenses: Take a close look at your spending habits and identify areas where you can cut back. Avoid impulse purchases and focus on essential needs rather than wants (also added this to my spreadsheet — for those that are wondering, I’ve made it available for a couple bucks here because I spent hours on it).
  • Save consistently: Make it a habit to save a percentage of your income regularly. Automate your savings if possible, so you don’t have to rely on willpower alone. Even small amounts can add up over time.
  • Reduce costs and negotiate: Look for opportunities to save money by reducing costs. Shop around for better deals, negotiate with service providers, and consider refinancing loans to lower interest rates. Small savings can make a big difference in the long run.

Oh and I’ve also created an e-book where I describe the process of earning money with content creation. You can find it here.

3. Acquire assets, not liabilities

To build long-term wealth and financial security, it’s crucial to acquire assets that appreciate in value and generate income.

Here are some examples of assets that can help you grow your wealth, compared to liabilities that drain your financial resources:

Assets:

  • Real Estate: Owning a rental property that generates monthly rental income.
  • Stocks and Index Funds: Investing in stocks of well-established companies or diversified index funds.
  • Bonds and Fixed Income Securities: Holding government or corporate bonds that pay regular interest.
  • Business Ownership: Starting a successful business that generates profit and value.
  • Intellectual Property: Owning patents, copyrights, or trademarks that generate royalty income.
  • Commodities and Precious Metals: Investing in gold, silver, or other commodities with potential for appreciation.
  • Education and Personal Development: Investing in yourself through acquiring valuable skills and knowledge.

Liabilities:

  • Consumer Debt: Owning high-interest credit card debt that accumulates interest charges.
  • Auto Loans: Financing a car that depreciates in value over time.
  • Personal Loans: Borrowing money for personal expenses without generating income.
  • Excessive Mortgage: Owning a home with a mortgage that exceeds your affordability.
  • Expensive Lifestyle: Spending beyond your means on luxury items without long-term value.
  • Depreciating Assets: Owning items that lose value quickly, such as electronics or vehicles.
  • Bad Investments: Putting money into high-risk ventures without proper research or analysis.

4. You aren’t born to work for others

If you work hard and put in many, many hours every day, who do you think will get rich?

That’s right, your boss will.

“If you don’t have a dream, someone else will hire you to fulfil theirs.”

Here’s why you shouldn’t settle for a life of working for others:

  1. Limited Income Potential: When you work for someone else, your income is typically capped by your salary or hourly wage. There’s a limit to how much you can earn, regardless of your efforts or contributions.
  2. Building Someone Else’s Dream: By devoting your time and energy to your employer’s goals and vision, you are essentially helping them achieve their financial dreams. It’s time to redirect that effort towards building your own wealth and creating a life of financial freedom.
  3. Lack of Control: Working for others means you have little control over your work schedule, decisions, and financial future. Your career progression and income growth are often determined by someone else’s discretion.
  4. Dependency on a Single Income Source: Relying solely on one job means you’re vulnerable to layoffs, downsizing, or economic downturns. Diversifying your income sources, as discussed earlier, provides greater stability and financial security.
  5. Entrepreneurial Spirit: Many individuals have an innate desire to create something of their own, to pursue their passions, and to be their own boss. Embracing an entrepreneurial mindset allows you to take control of your financial destiny and unlock your true potential.

5. Gain financial knowledge

This is probably the most important of them all.

We’re never done studying.

I’m now 33 years old and I’m studying and learning new things every day. If it’s not by reading books, then I’m taking courses, watching documentaries…

I’m now even looking into getting a master’s diploma in International Business Management. Apparently, if you’re living in the EU, there are a few countries where can follow this education for free! (link)

Oh and if you absolutely don’t care about it, you can surround yourself with financial advisors or bookkeepers.

Let me give you some examples of a few things that I learned:

  1. Here in Belgium, if you keep a condo for 5 years, and sell it then, all profits are tax-free. If you sell it earlier, then you need to pay tax.
  2. If you want to start a company or become a freelancer, there are a few countries that are extremely beneficial to do so — for example Dubai: if you buy a property here, and live here for 5 years, for 6 months per year, you pay 0 tax.
  3. If you’re self-employed, you can deduct purchases like a new phone, a new laptop, a new car, a new desk,… from your taxes. Great way to purchase fancy gadgets basically… “for free” (because otherwise the money would go to taxes anyway).

Gotta know about these things, right?

So:

  • Educate yourself: Continuously educate yourself on personal finance topics.
  • Stay informed about investment strategies, financial planning, and money management techniques.
  • Take advantage of tax-efficient options: Explore tax-efficient savings and investment strategies that can help you minimize taxes and maximize your returns.
  • Consider retirement accounts, tax-free savings accounts, and other investment vehicles that offer tax advantages.
  • Education and Personal Development: Invest in your own skills, knowledge, and personal development.
  • Continuous learning can enhance your earning potential, open up new career opportunities, and increase your market value.
  • Consider professional certifications, workshops, online courses, or mentorship programs.

6. Winning means not being afraid to lose

This is a mindset that sets successful individuals apart from the rest.

By embracing the unknown, taking risks, and learning from failures, you open yourself up to new possibilities.

It’s in those moments of stepping outside your comfort zone that growth and amazing things can happen.

Sometimes I take (calculated) risks like investing 5k into a YouTube channel, or hiring a Fiverr freelancer to do a project for me, or investing in a start-up…

So, let go of the fear of losing and embrace the mindset of a winner.

Embrace challenges, learn from failures, and keep pushing forward.

The rewards will be worth it, and you’ll be amazed at what you can achieve when you’re not afraid to lose.

7. Pay yourself first

This basically means that you should prioritize saving and investing for your future by setting aside a portion of your income BEFORE paying bills and expenses.

Treat it as a non-negotiable expense to consistently build wealth, create financial security, and achieve your long-term goals.

Automate your savings to make it effortless and embrace a mindset of abundance and control over your financial future.

Of course, this is only possible if you have a decent income, a conscious spending plan and are well aware of your budgets.

8. Dream big

I love to dream big.

Img made by me in Canva — Me in 3 years (but then the male version :))

I have a lot BIG dreams (which I’ve actually written down, visualized, drawn, painted, calculated…)

Whatever your dreams and goals are, write them down and make them as specific as possible. The more details you put into them, the lively they become, and higher the chances are that you’ll achieve them.

And your goals? Set them HIGH.

“It’s better to aim for the moon, because if you miss, you’ll still be amongst the stars.”

Very important tip: Surround yourself with like-minded individuals who support and encourage your aspirations.

By daring to dream big, you unlock endless possibilities and pave the way for extraordinary achievements.

See you at the top!

Thanks for reading, and we’ll see each other AT THE TOP (or on a yacht in Ibiza some day 😉 — good luck)!

Oh and don’t forget to claim your free copy of my “How to Get Rich” e-book now – as long as it’s free!

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Michiel Schuer

FINANCIAL FREEDOM BLOGGER

Enthusiastic about learning new things, side-hustles, and translating my personal experiences into motivational stories.

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Don’t spend your entire life working a job you don’t love so that you can maybe retire at 65. 🙄

Most of what’s published and shared about money is either wrong or so old school that it’s obsolete.

The challenge isn’t how to make more money, it’s how to make and use money to live a life you love, with time and space for yourself.

And that’s the heart of Millennial Money: stop hustling yourself into a breakdown and stop wasting time by managing money poorly.

Let’s stop the grind, together.

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