How to Start with No Money: A Simple Guide
Many people ask: How can I start with no money? What can I do when I’m in high school or just starting out in my 20s? The answer is simple: get a job. Let’s break it down and see how you can build wealth from scratch.
The Reality of Starting with No Money
As Robert Kiyosaki says, “The richest people build networks; others look for work.” But to build anything, you need money. Starting with no money is tough, but it’s not impossible. A 2023 Federal Reserve report says 40% of Americans don’t have $400 for an emergency. If you’re in this situation, you’re not alone. The key is to take action, even if it’s just a small step at a time.
Step 1: Get a Job (Any Job)
The first step is simple: get a job. It doesn’t matter if you’re flipping burgers or stocking shelves. What matters is getting money in your pocket. Even a minimum wage job is a good start.
In 2023, the federal minimum wage in the U.S. is $7.25 per hour. In California, it’s $15.50. If you work 40 hours a week at $15.50, you’ll earn $2,480 per month before taxes. It may not seem like much, but it’s enough to cover expenses and start saving.
The job isn’t the point—it’s the habits and momentum you create. Every paycheck teaches responsibility and money management. Start where you are, use what you have, and keep moving forward.
Why a Job Matters:
- Cash Flow: You need money to live, save, and invest.
- Discipline: A job teaches time management and work ethic.
- Networking: Even basic jobs can open doors for future opportunities.
I started in a supermarket, making minimum wage. I cleaned, stocked shelves, and did whatever was needed. There’s no shame in starting small. As Elon Musk says, “When something is important, you do it, even if the odds are against you.” Getting a job is the first step toward independence.
Step 2: Learn a High-Income Skill
While working, use your free time to learn a high-income skill. These are skills that can earn you $10,000 or more per month. It’s not about starting a business—it’s about learning a skill you can sell. Many high-income skills can be learned online for little or no cost.
Examples of High-Income Skills in 2023:
- Digital Marketing: With over $600 billion spent on digital ads in 2023, skills like SEO, social media, and email marketing are in high demand.
- Copywriting: Skilled copywriters can make $10,000+ a month writing sales copy.
- Coding and Web Development: Developers earn $80,000 to $120,000 per year.
- Graphic Design: Learn design skills on platforms like Canva or Adobe, then offer services on sites like Fiverr or Upwork.
- Video Editing: As video content grows, skilled editors are in demand.
- Sales: Sales skills in areas like real estate or consulting can earn big money.
How to Learn High-Income Skills:
- Free Resources: Websites like YouTube, Coursera, and Khan Academy offer free courses.
- Paid Courses: Platforms like Udemy and Skillshare offer affordable courses.
- Practice: Start offering your skills on freelance sites like Upwork or Fiverr to build experience.
As Warren Buffett famously said, “The best investment you can make is in yourself.” By developing a high-income skill, you’re investing in your future earning potential.
Step 3: Hustle on the Side
Once you have a high-income skill, start hustling on the side. If you’re earning $2,000 a month from your job, use your free time to freelance, consult, or offer your services. Here are some ideas:
- If you’re a copywriter, write sales pages for small businesses.
- If you’re a graphic designer, create logos or social media images.
- If you’re a coder, build websites or apps.
The goal is to increase your income. Over 70 million Americans work as freelancers in 2023. Platforms like Upwork, Fiverr, and Toptal make it easy to find clients and make extra money.
Example:
Say you work a $15/hour job, earning $2,480 a month. You freelance 10 hours a week as a copywriter, charging $50/hour. That’s an extra $2,000, bringing your total income to $4,480. As you improve your skills and raise your rates, you could earn $10,000 or more per month.
Step 4: Scale Your Income and Quit Your Job
Once your side hustle brings in more money, you can quit your job and focus on growing your skills. For example:
- If you’re a digital marketer, start your own agency.
- If you’re a coder, build your own software.
- If you’re a salesperson, start a consulting business.
The key is to use your skills to create multiple income streams. Tony Robbins says, “Success is taking massive, determined action.” Don’t be afraid to take risks and invest in your growth.
Step 5: Build a Business and Invest
Once you’re making $10,000+ a month, you can think about building a business or investing. Here’s how:
- Start a Business: Use your skill to create a product or service. If you’re a designer, sell templates or courses.
- Invest in Real Estate: Real estate is a great way to build wealth. In 2023, the average return is 10.6% per year.
- Invest in Stocks: The S&P 500 has averaged 10% returns per year. Start with index funds or ETFs.
- Build a Team: As your business grows, hire others to help.
Richard Branson once said, “Business opportunities are like buses; there’s always another one coming.” Stay focused and seize opportunities when they come.
The Problem with Social Media
Social media can be tough. Platforms like Instagram and TikTok show people with fancy cars, vacations, and mansions, making it easy to feel behind. But remember, comparison steals joy. Most of those people didn’t get there overnight. They took the same steps you are taking now.
How to Filter Social Media:
- Follow Learning Accounts: Follow accounts that give business tips, financial advice, or skill-building content.
- Avoid Comparing Yourself: Focus on your own progress.
- Take Action: Instead of scrolling, use that time to learn, work, or improve your skills.
The Importance of Persistence
Building wealth takes time. A study by Fidelity Investments shows that 88% of millionaires are self-made—they didn’t inherit their wealth. They started from scratch, just like you. Keep going, even when things are tough.
As Thomas Edison said, “Many of life’s failures are people who did not realize how close they were to success when they gave up.” Don’t give up. Keep taking small steps, and they’ll add up over time.
Final Thoughts
Starting with no money is hard, but it’s not impossible. The key is to take action, no matter how small. Get a job, develop a high-income skill, hustle on the side, and grow your income. Over time, you’ll build the foundation to start a business, invest, and reach your goals.
Remember, success is a journey. As long as you’re making progress each month and year, you’re on the right track. Stop comparing yourself to others on social media. Start building your own life. Get that job, take small steps, and keep moving forward. Does that make sense? Let me know your thoughts in the comments!