11 Steps To Change Your Fortunes How To Build Wealth From Nothing

Today, 67.7% of millionaires are self-made. You can do the same. Then you might think that build wealth from nothing is impossible. According to a 2019 Wealth-X report, 67.7% of the world’s ultra-wealthy population (defined as those with $30m or more in assets) were self-made. Even more interesting is the rapid rise of this class of ultra-rich. 

Two things are evident from the data above: first, building wealth from nothing is possible, and second, more and more people are achieving the impossible. We invite you to learn how to build wealth from nothing instead of fantasizing about the wealth you would like to inherit.

The truth is that “rich people commit to being rich,” according to bestselling author T. Harv Eker, while “poor people wish they were rich.” You can start to tell the difference between commitment and mere desire right now.

This article will look at 11 actions you can take today to begin building wealth from nothing and getting on track to living a more financially free lifestyle.

1. Become knowledgeable about money

  • First, we need to change our mindsets before we can truly make any significant changes in our lives. Everyone can build a financial ark to survive and thrive 
  • Thus, investing time in financial education is the first step to building wealth from scratch. Among other terms, become familiar with income, expenses, net worth, return on investment, passive income, and financial independence.  
  • Follow financial education blogs like Sarwa’s, read books, listen to podcasts, and take courses.
  • As with any other form of education, financial education must be ongoing. You should never stop learning. As a result of the democratization of financial information, a lot of inaccurate information is available. 

2. Establish a regular income source

  • Wealth cannot be built from anything without a regular source of income. You can’t invest without saving money, and you can’t save money without a regular income. 
  • In other words, people don’t build sustainable wealth through multilevel marketing, Ponzi schemes, or betting.
  • Don’t listen to people who promote get-rich-quick schemes that build wealth by working just three hours a week. Real wealth is created over time. It is impossible to build sustainable wealth without creating intrinsic value and earning income from that good or service. 
  • If you do not have a job, get one (here are 13 steps you can take), and if you do have one, keep it.
  • Keep creating more long-term value if you are a small business owner. “Wealth comes from adding value,” said self-development expert Brian Tracy, which includes developing a business model that produces more, better, cheaper, faster, and easier than anyone else.”

3. Establish a budget

  • In order to learn how to build wealth from nothing, you must create a budget and stick to it.
  • You must now create a budget, usually set on a monthly basis, based on that regular income you just discussed.
  • Every household and/or individual should create at least a monthly budget to identify their expected income and expected expenditures. It’s like sailing without a compass when you don’t have a budget, and you’ll get lost in the seas of financial missteps. 
  • 50:30:20 is a popular method of budgeting. By using this budgeting technique, you can direct 50% of your income to essentials (rent, mortgage, food, healthcare), 30% to non-essentials (shopping, vacation, entertainment), and 20% to savings and investments.
  • Do you know why budgeting is important? Understanding the way you spend your money makes it easier to identify expenses you can cut. Building wealth faster is possible by identifying and cutting unnecessary and avoidable costs. That’s it.

4. Get enough insurance (but don’t overinsure)

  • Insurance should be a core item on your budget. When you insure yourself and your main assets (properties, cars, etc. ), you minimize the possibility of incurring massive losses. 
  • You should have health insurance at a minimum, so you don’t break the bank if you contract a costly disease. Comparing UAE health insurance plans 
  • Building wealth is good, but losing it due to unforeseen circumstances will be excruciating. Protect your most important assets by insuring them. 
  • Nevertheless, don’t overinsure. There are many useless insurance products on the market. Stick to the four above unless you have an absolutely compelling reason to get more.
  • According to Jack Ma, founder and richest man in China, buying insurance cannot change your life, but it prevents it from being changed. If you don’t buy insurance, you’ll cause your family to go bankrupt.  

5. Make extreme savings from your income.

  • If you put in the effort, you’ll find that you can save a lot more than the 50:30:20 rule suggests.
  • When you are committed to building wealth, many items in your budget can be reduced or eliminated. You are not alone in this. Today, there is no shortage of communities promoting “extreme” savings. 
  • The “Financial Independence, Retire Early” movement, or FIRE, is one of the most popular.
  • Their “extreme” savings strategies encourage adherents to save a huge portion of their monthly income. Fisker retired at the age of 33 and now lives on $7,000 per year outside of Chicago.
  • As Fisker (and other leaders in the FIRE movement) have grown large communities based on their efforts to cut down on expenses (and the consumerism that drives them up). 
  • They achieve this by building and creating items (e.g., baking bread, building tables) instead of constantly buying them. In addition, Fisker feels more satisfied by his work than by consumerism. 

The following are some simple ways to reduce your expenses and save more money in Dubai:

Buy bulk groceries and cook at home as much as possible
You can reduce your utility bills by 1 degree by increasing your room temperature
Take advantage of various discounts on food delivery apps to reduce restaurant expenses
GITEX and the Dubai Shopping Festival are good places to buy one-off items like computers, refrigerators, and TVs
Make your own workout program
Consider renegotiating your rent or finding better offers 
lowering your mortgage interest rate

By following these tips, you’ll be able to invest more than the standard 20% of your income. Don’t worry about how much money you make, but how much you keep. Inventing your way out is the only way to get out of a tight box.  

6. Create an emergency fund

  • Having learned how to save a significant portion of your income, you should now create an emergency fund in order to build wealth from nothing.
  • An emergency fund is similar to self-funded insurance. Putting money aside for unexpected expenses, like car repairs or unforeseen circumstances, like job loss or pandemic-induced lockdowns, makes sense.  
  • There are ways to make matters worse when unexpected expenses and unforeseen circumstances arise: assuming debt and selling your investment(s). 
  • Interest is paid on debt, and when you sell an investment, you lose both the amount you sold and the interest it might have earned if you hadn’t sold it.
  • To avoid those two situations, we recommend you start an emergency fund as soon as possible. Make sure those funds are in a savings account where you can easily access them. 
  • Emergency funds won’t make you wealthy, but they will prevent you from selling investments or taking on debt during emergencies.

7. Increase your skillset

  • Your savings and investments can be increased in two ways – by lowering your expenses or by increasing your income. 
  • Taking professional courses will improve your skillset, so immerse yourself in continuous career development if you’re an employee.
  • If you own a small business, research the market better, commit more resources to innovation, and provide more value to your customers. You will earn more revenue and gain a larger market share by doing this.  

8. Explore passive income options

  • Additionally, you should explore passive income opportunities to increase your income from your job or business.
  • Passive income is essential. According to Warren Buffett, the legendary investor, and CEO of Berkshire Hattaway, if you don’t figure out a way to make money while you sleep, you’ll work until you die.
  • The two types of passive income are passive investment income (your money does all the work) and non-investment passive income (you work on the side). As the next section will cover the former, we will focus on the latter here.

There are many ways to earn money on the side of today’s global and digital economy. However, be wary of get-rich-quick schemes such as Ponzi schemes and betting sites when exploring these opportunities.

  • Create digital products: If you are an expert in a particular niche, create digital product books, video courses, e-courses, or webinars – on topics people are interested in. Unlike physical products, digital products only have to be created once (unless they need to be updated). Creating a single product can generate income for a long time. 
  • Instead, you could post regular blog posts about your idea instead of selling a digital product: By generating enough traffic, you can monetize your blog through Google Adsense, digital products, paid memberships, sponsorships, and guest posts, among other ways. 
  • Affiliate marketing: Rather than selling your digital products on your blog, you can promote products from other merchants and earn commissions. You don’t need to create a product for affiliate marketing.
  • Dropshipping: With dropshipping, you sell products of various merchants without actually owning those products. Customers place orders with you, and you process those orders with the producer, who delivers them to the customer. The difference between the retail price (what the customer pays) and the purchase price (what you pay the merchant) is your income.

9. Passive investing is the way to go.

  • Saving and investing are the keys to building wealth. Now you are saving at least 20% of your income and earning more income from side hustles by following the above steps.
  • You can now combine both and begin investing seriously. Each and every one of the millionaires you know and admire built their fortunes through smart and profitable investments in the stock market. 
  • If you don’t make money doing the work, you will have to do it anyway. There is a problem with your ability to earn money; you cannot earn money while you sleep (as Buffett advised).
  • A market investment, however, means money works for you, and you profit from the efforts of others.
  • How can you grow your money the most effectively? You cannot invest your money in a savings account. Your emergency fund is the only money you should keep there. You should also invest in profitable investments that earn good returns while minimizing risk. 
  • Savings accounts usually earn low-interest rates (less than 1% APR in most cases), and they may depreciate when inflation exceeds the interest rate.
  • Secondly, timing the market is not a good strategy. Markets rise more often than they fall (74% to 26%), and long-term investors almost always win. The best approach to investing is to cultivate a long-term perspective rather than being obsessed with market movements. 
  • Peter Lynch, a retired investment manager, says people lose more money waiting for and anticipating corrections than they do when they actually occur.
  • Third, investing in passively rather than actively is the best way to build long-term wealth, especially when you have a lot of savings.

Best investment opportunities

1. Stock ETFs

Investing in shares of companies is one of the best ways to build wealth. As a shareholder, you benefit from the company’s value growth; the company works for you.

Investing in stocks through ETFs (exchange-traded funds) is the best way to do so. Passive funds, like ETFs, are cheaper, less risky, more transparent, and more profitable in the long run. 

The ETF allows you to diversify your investment without the fees, taxes, and market timing associated with mutual funds.

You can also diversify your equity portfolio with stock ETFs. Stock ETFs are available for developed markets, emerging markets, and the United States. Consider diversifying by market cap (large, medium, and small-cap) and by industry (finance, technology, etc.).

Stocks produce the best returns on investment despite being riskier than other asset classes. You can minimize your risk and earn higher returns by diversifying your portfolio.    

2. Bond ETFs

  • Invest in debt instruments issued by governments and corporations. Companies borrow money from you and repay it with interest. Bonds may be corporate (issued by companies), federal (issued by the federal government), or municipal (issued by government agencies).
  • ETFs are the best way to buy bonds, just like stocks. Bonds are less risky but offer lower returns than stocks. By combining stocks and bonds in a portfolio, risks can be reduced.


  • REITs (real estate investment trusts) are an alternative to renting or buying, and selling real estate properties, which is risky.
  • Stocks in real estate investment trusts (REITs) are held by companies that purchase and sell properties and mortgage companies that provide financing.
  • As the value of the real estate or mortgage company rises, your money grows in value; these companies work for you. You will receive a very high dividend from REITs, which provides an additional investment income stream.
  • As the value of the real estate or mortgage company rises, your money grows in value; these companies work for you, providing you with an additional investment income stream.REITs can be purchased through ETFs, just like stocks and bonds.

10. Invest with a Robo-advisor

  • How do you create and manage your investment portfolio? Investors first have to decide how to create a portfolio of stock ETFs, bond ETFs, and REIT ETFs. How many should they buy and when? 
  • Due to the rise in robot advisors, investors can now easily automate their investment process through.Thanks to Sarwa’s platform, you can automatically deposit more money, reinvest in dividends, and periodically rebalance your portfolio based on your risk tolerance. 
  • As a result, Robo-advisors help investors avoid emotional investing by practicing passive investing while overcoming the temptation to time the market.
  • With Robo-advisors, you’ll have easy access to a structured portfolio that maximizes your return and minimizes your risk. Adding more money to that portfolio and watching your money grow within your chosen ETF allocation is how you build wealth from nothing.

11. Recovering acute debts and “finding” money

  • These expenses are called acute debts because they are frequent, high-frustration pain points that go unnoticed and may impose lasting damage to our financial health while impairing growth opportunities. 
  • Over 2/3 percent of Americans are unaware they have paid bank fees in the last year, and the average American pays more than $720 in bank fees alone in a year.  
  • It’s insane! As you’re here to get yours, let’s get started. We’ve refunded over $2M in bank fees to our members in 2020 alone, so let’s get started right now.

Get your bank fees back.

It is quite easy to get bank fees and interest charges back from your bank: just call. Many people are unaware that you can get hundreds of dollars back in bank fees and interest charges by calling your bank or, even more conveniently, through an online message system that your bank may provide. 

You can read several articles on how to get bank fees refunded if you’d like to learn more. Alternatively, our platform can help you get bank fee refunds automatically or assist you with your refunds through customized scripts based on the exact amount, type, and frequency of bank fees you’ve been charged.

Lost Money

Unclaimed and lost money, property, and other assets are returned to consumers in each state. In addition to recovering your acute debts in the form of bank fees and interest charges, you may also be able to recover funds addition to you may also be able to recover funds owed to you by state and local governments. To see if you qualify, visit Missing Money and enter your information to see if you can apply.

Unused crap for sale

Last but not least, there’s one way to “find” money right in front of you, which is to liquidate “stuff.” There are countless stats on this subject, but chances are, you have stuff you don’t need. Early on, the easy way to boost your net worth is to liquidate your things and turn them into cash. 


“How to Build Wealth from Nothing,” many of these concepts are simple but not easy.  But that also doesn’t mean we can assume everyone knows the steps it takes to build wealth. ‘’ ‍