Money Expert Rachel Covert Says To Steal This Hack That the Rich Use To Get Richer
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John Schmoll
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T. Woods
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Many people dream of building wealth, only to believe it’s impossible. They feel they don’t have the knowledge or resources to get rich. Numbers indicate attaining millionaire status isn’t as difficult as you might think, with one in 15 Americans reaching the achievement, according to the 2024 UBS Global Wealth Report.
Money coach Rachel Covert concurs that growing wealth isn’t unthinkable. In a recent Instagram post, Covert shared a simple hack to amass riches.
This hack isn’t mind-blowing but simple. As Covert said on Instagram, “They [self-made millionaires] use their money wisely. They understand that it can grow if you nurture it, or you can easily squander it without thought.”
Unless you plan to win big at the lottery, growing wealth takes time. It takes persistent effort and forgoing frivolous purchases with a long-term eye toward achieving your goals. This is the mindset of the common self-made millionaire. They embrace certain habits, such as:
- Living modestly;
- Investing wisely;
- Becoming financially literate;
- Evading financial drains;
- Saving at every possibility.
Earning a six-figure salary isn’t necessary to practice any of these habits. You can do all of the above, even on a humble salary. Yes, you may begin with small amounts at the outset, but it’s time and persistence that matters.
It doesn’t mean you can’t have things you want today, either. You can balance having fun things in life and wealth creation. “You can still have the things you love in life and invest, but you do have to be intentional with your money,” said Covert.
We often want a super-secret hack to get rich. Thankfully, as Covert accurately states, it’s not that difficult. It’s following the blocking and tackling concepts of personal finance — avoiding foolish spending and putting every dollar to work for you — that puts goals within reach.
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