Covering the strategies that get people from a bitter place to a richer one is part of why I started this blog! If you take away only one thing from this I want it to be that you know you can always work on something to get yourself to a better place than you’re in now – no matter what your current circumstances are. That’s why I’ve come up with all of these tips that will help you go from bitter to richer.
Even if you’re on top of things, there is always room for improvement. However, if you have found yourself down on your luck, like many people, there are always opportunities for you to have a better life.
The Purpose Of Money
Money can’t give your life purpose or meaning, and money alone definitely can’t make you happy either. Obviously, it can open doors for you, but it can’t do everything. Instead of fixating on saving and making money all the time, you also need to realize what all this work is for at the end of the day.
Do you want to use money to see the world? Build your dream house? Retire early? Start a side hustle? There is no wrong answer – what you want to do with your money is your business (and no one else’s).
The freedom money provides is an amazing feeling. Not having to stress about being able to pay the bills or meet a deadline for work is addicting. Being smart with your money will let you focus on your priorities – whether that is your career, family, or something else entirely. For me, the more time that money helps me free up is more time I can spend writing or relaxing with family. I think everyone should create or build something important to them, and for me that has always been related to writing.
Of course I put my family first, but financial freedom helps me be there more for them and lets me pursue my own interests. Don’t forget, you can use money to leave a legacy – perhaps for your kids, or for your community.
Don’t Lose Sight Of The Important Things
Of course, money is used to meet your needs. Housing, food, clothing, and the like are necessary, and there should never be shame in using money to meet your needs. I know some of my readers like to get exceptionally frugal at times, but don’t forget that it’s okay to spend money on yourself, especially for necessities. Plus, if you’re doing well for yourself, you always have the ability to help others meet their needs if they can’t do it on their own. Charity is a wonderful thing and giving back to your community and others is a rewarding experience!
Beyond basic needs and charity, money is all about freedom for me. The freedom to work where I want. The freedom to take a lower paid job (or not work at all) because I don’t need the money. Even the freedom to pursue my own interests, and as I said earlier, the freedom to be there for my family. After all, life isn’t about the daily hustle and the obsession to make more cash – it’s about enjoying your life and leaving the world a better place. Without building up a hefty nest egg, both seem very hard to do.
In other words, money isn’t all about some raw number that means you’re wealthy. Money is about the freedom and options you have, particularly related to how you want to live your life. If you’re free to live your life exactly how you want, in a sense you are wealthy. Now, you’ll likely need to plan out how much money you need to do what you want, but it certainly isn’t a one-size-fits-all situation. Everyone’s needs and desires are different, therefore everyone should have different goals and methods when it comes to personal finance.
It’s Okay To Spend Some Money On Yourself
To be clear, spending less than you make is a great thing, and should be the norm. Unfortunately, some people take it so far that they neglect important expenses like healthcare, home and car maintenance, or even basic toiletries.
Beyond that, experiences and expenses that help you stay happy over the long-term help prevent burnout or quitting the pursuit of your financial goals. Usually when individuals try to live too frugally for a long time, they either give up altogether or play “catch-up” and have large splurges where their spending gets out of control. Making sure you spend some money on things that bring you joy helps you not only have a better quality of life, but it helps you be consistent when working towards your financial goals.
Think of it like dieting. You may count calories and avoid or limit certain kinds of food in order to lose weight. Perhaps you went a bit overboard and basically limited yourself to eating the same 1 or 2 bland foods, day after day. Most people probably keep that up for a week, some for a few. Hardly anyone can keep that type of diet up for a long time. Generally, people end up cracking and eating junk for several days straight. What does that do? It just resets all of their progress. Your personal finances and spending can be a bit like that.
Passion Is Not Enough To Get You Through Everything
Having a job that you’re passionate about is a high priority for modern jobseekers, especially among new graduates and younger professionals. Unfortunately, pursuing a career based solely on passion driving you isn’t the “ideal” people imagine it is.
Passion Is Overhyped
Celebrities like to tell people to do what they’re passionate about and that success will inevitably follow. Sadly, that is the exception, not the rule. Being passionate isn’t inherently bad, but it’s not enough to carry you throughout your career.
Sometimes passion can hurt much more than it helps. Wanting to enjoy work is fine, but relying on loving what you do for decades is unrealistic and can lead to bitterness and regret. The phrase “follow your passion” has become increasingly popular, even though doing so often leads to dead-ends and frustration. Even if you put aside the reality that most people aren’t sure about what their “passion” is, it’s just bad advice. After all, people need to make enough to put food on the table!
Assuming you know what your passion is, and it can provide a stable income, passion is still fickle. There isn’t an infinite supply, and sometimes it disappears for a time only to reappear months or years later. While your passions aren’t always changing, over the course of years it likely will. This is especially true if your job is directly related to it and you’ve been working in that field for a long time.
If you use passion to fuel your career, you’ll end up losing motivation and possibly hating your work. At the end of the day, no matter how much you like doing something, when you make it your job that means you must do all the undesirable things related to it as well. For example, some people may claim that traveling is their passion. However, if they travel most of the time for their job and can’t enjoy downtime while they travel, they’ll likely end up hating it. Jobs which require travel are often the most stressful and incapable of providing a work-life balance.
Passion can be a good supplement, even great at times, but choosing a long-term profession just because of it is dangerous and irresponsible. With that being said, it is incredibly important to enjoy what you do to a certain extent. Nobody wants to work a job that they dread for years. That will only lead to burning out in the near future. It’s important to be realistic about what you love right now and what you can be happy doing long-term – as well as what can keep food on the table.
Balance Your Passions And Interests With Your Strengths
Rather than blindly following a passion, it may be better to look at the areas in which you excel. It’s easier to find a career based on work you’re good at and can enjoy doing, rather than what you enjoy the most currently. Also, when you become skilled at something, or are naturally talented at it, you generally enjoy it a bit more anyway. Following your passion can be a bit self-centered, and ultimately less fulfilling than being able to contribute a lot to the world or society. Seeing your labor impact others in a positive way will keep you going a lot further than the unpredictable whims of passion.
Unfortunately, being passionate about your career can also make you irrational. When you’re irrational it is possible your behavior could become inappropriate in some way, but it is more likely that people will use it to take advantage of you. If a business offering you a job believes you’re head-over-heels for the idea of what the role is, they may offer you a lot less than standard or require longer hours because they think you’ll accept it anyway.
Sometimes, if they think your expectations for the job are too unrealistic, they will not extend an offer to you. In my opinion, that is understandable because inaccurate expectations lead to employee dissatisfaction and high turnover. Even worse, you may make decisions which will hurt you in the long-term and make your goals much harder to reach.
If you still want to love what you do, search for it through meaning rather than passion. Focusing on things you care about can help fulfill you as well as keep you enjoying your work. If you really want to help others, you could become a civil servant. Additionally, if you wanted to help others but had a knack for technology, you could always pursue an IT job closely tied to medicine or security.
It’s really all about what makes you happy – even once the thrill of following your “passion” dies down. Caring about the impact your work can have will help you get through the hardships and unpleasant aspects that accompany every career, while keeping you appreciative of your job.
However, for more entrepreneurial endeavors, sometimes even caring about what you do can be worthless if you don’t have focus and consistency behind your actions. Focus on building systems and habits you can follow closely over a long period of time. The trick is to keep them as realistic as possible, so it isn’t a strain to keep it up. That way, even if you lose motivation, you’ll be able to push through it.
Money Doesn’t Buy Happiness – Well, Not Exactly
I know you’re curious about my take surrounding money and its relationship with happiness. I want to do the topic justice – as it’s a very complicated one. The short answer is yes – and no. Money does not buy happiness unless you simply don’t have enough to make ends meet. There are too many issues that money can’t fix, and not enough that money can, for me to say that money can just buy happiness. However, money can certainly cause some short-term joy. Plus, it can make a happy life easier to achieve overall. For example, if you can’t pay the bills then you’re going to have a hard time staying happy!
The Research
There are several studies out now, and they report various ideal incomes in order to be happy. After you reach those ideal incomes, they say there tends to be diminishing returns on the happiness you get out of money you make beyond that. There is probably some truth to the studies, but nothing like what they claim. Salaries of “$70,000” or “$80,000” might be perfect for some people, in some areas. However, I have a hard time believing that a family of four would be happy with that in the USA’s larger, more expensive cities.
In short, the research says that there is some ideal magic number that is the perfect amount to make you happy, without being so much that it brings its own issues. This may be true, but since the studies can’t agree on it, it’s clearly still a huge debate. Besides, something like this is subjective so it’s hard for these researchers to find a good way to measure it.
So Money Matters, But Only To A Certain Extent
Now, I discussed the research for a couple reasons. First, I think it’s important to see what the data is saying and what general opinions seem to be. Second, because they almost always mention diminishing returns on how much you make (regarding how it affects your happiness), and I think that is an important component of this debate about money buying happiness.
Once you reach an income that not only meets your needs, but satisfies major wants, you’ll probably notice that making more money doesn’t impact your life much. Sure, it’s nice to make more money, but after a certain point it starts mattering less and less.
Make Sure You’re In It For The Right Reasons
Everyone believes in their own version of the purpose of money. For some it’s a tool to make ends meet, for others it helps them build something, and for many people it acts as a security blanket. Whatever reason you have for trying to make more money, be sure you’re balancing that with the underlying purpose and goal you have for it. If you reach a point where you don’t want any more, there are always other things in life you can pursue. After all, many people professionally retire but still stay busy and productive.
The Bitter To Richer Mission Statement
Part of the reason I started Bitter to Richer is because of all the people I know who spend their time whining. Friends and coworkers are constantly complaining about how hard life is these days (as if everyone in the past had it so much easier), and how much they would love to be able to afford living on just one of their salaries so someone can stay at home to raise the kids or start a business. Some even try to claim that you need to spend thousands on college just to break past a few dollars above minimum wage.
I decided to start this blog to share some of the secrets for how you can achieve your own version of success. The goal here is to put the bitterness in the past and just focus on getting richer – it’s a long road, but it’s well worth it!
20 Tips To Help You Go From Bitter To Richer
Without further ado, let’s dive into the 20 main tips I have for going from bitter to richer! Hopefully many already apply to you. For the ones that don’t, try to incorporate them into your daily life.
1. Change Your Head-Space
The first tip, and arguably the most important, is to change your head-space. If you have had a constant and consistent interaction with “bad luck” and are always upset with the cards life has dealt you, then it’s time to reevaluate your mindset. Yes, it’s possible you have had a hard time. You’ve probably overcome a lot of things that would’ve broken some other people. However, you did overcome it, and you’ve continued living. No matter what comes your way, if you shift perspective it can help a lot. Be thankful for what you have, and be ready to take life’s hurdles.
2. Make A Plan
Make a plan and be precise with it. This starts by figuring out and detailing your goals. I like to divide my goals into three categories – medium-term, short-term, and long-term. Short-term goals are things you work towards over the course of a few days to an entire year. Medium-term goals usually take anywhere from one to three years to reach. Long-term goals take at least three years to reach, and can often take decades.
I like to work backwards with my goals. Starting with my long-term goals is ideal, then I figure out the medium-term goals I need to reach to make the long-term goals a reality. After that, I list out the short-term goals I need to accomplish in order to reach my medium-term goals.
3. Stick To It
This goes with setting your goals and creating a plan. Starting with a plan is useful, but it’s pointless if you don’t work towards it and stay consistent. Consistency and discipline are what turn people into success stories. If you aren’t able to keep at it, even when the going gets rough, then expect to wind up where you started, just as bitter as ever.
4. Budgets Are Key
I’ve gone over this time after time. Budgets are a must if you want to level up your finances. For a complete guide, check out my post with all the details. It covers topics for beginners as well as advanced tricks and styles. A good budget will help you make the most of whatever money you’ve made. Even if you make a lot of money, it’s easy to spend too much and fall into bad financial habits if you don’t keep track of it.
5. Find A Good Partner
A good partner can make a world of difference when it comes to bettering yourself as well as your finances. If you haven’t yet, make sure you talk about money with your partner when you’re in a serious relationship. It’s important to have that type of ongoing communication, especially if you have or want to merge finances. A good partner will make it easier to stay on track and can even help you with some of your financial responsibilities.
For those of who you don’t have a significant other in your life, you can still have a partner that will help you get your finances in order. With a close friend, or even a family member, it may be worthwhile to have an accountability partner. This is someone you talk to frequently who will help make sure you’re staying on track to reach your goals.
6. Live Below Your Means
This is a good rule of thumb, and next to impossible to keep in check without a budget. Even with a budget, many people tend to fall into this trap. As you make more money, it’s easy to spend more – even justifying increases in your budget. People do this to accommodate for what many call lifestyle creep. Just because you make more doesn’t mean you should spend more. To avoid this, I tend to only increase my budget with major life events. For example, that includes weddings, having a child, handling the loss of a loved one, or anything along those lines that can drastically change your financial responsibilities.
7. Create Another Source Of Income
Hey, who doesn’t want to make more money? If you’re in a job you hate and exceptionally bitter about it, this is one of the biggest things that will help you on your way towards a richer mentality. There are tons of lucrative side hustles you can start , so do some brainstorming and see what works for you. Hopefully, one day, this side hustle can be a serious source of income or it could even replace a day job.
If you want to start a side hustle, check out my complete article on it! Of course, once you get started, try to keep at it for at least 6 months if you want to actually see positive results.
8. Invest
Hopefully this doesn’t need to be said, but taking your investments more seriously can be a great way to go from bitter to richer. In my opinion, the best thing to do is to start with index funds and ETFs . They have a proven track record, require little effort to maintain, and are a top pick for new and experienced investors.
If you’re just starting out, I highly recommend using Acorns to show you the ins and outs. For those who don’t know, Acorns is an app that will help you automate some savings and invest it for you. I like to think of it as the training wheels for investors – it really is great at showing you the ropes.
9. Stop Underestimating Yourself
At some point, you need to stop underestimating yourself. Of course, don’t let your ego become huge. However, with most people it seems that the limiting factor is what they think they can actually do. If you tend to think you can’t do something, I encourage you to push yourself to see what you can accomplish. You’ll likely be surprised. For those who overestimate themselves – just dial back a bit.
10. Start With The Small Things
This is one of my favorite pieces of advice, that most people gloss over. You need to start with the small things – the minor goals and tasks – even if they seem completely insignificant. Before you invest a million dollars, you need to save $1000 or even $100. Likewise, before you can squat twice your weight, you’ll likely need to start lower and work your way up. It’s important to start somewhere and build yourself into what you want to become. It’s harder than it sounds, and certainly not glamorous, but it’s important to start somewhere so that you can get where you want to be. You can’t expect to instantly be at your end goal with no work to get you there.
11. Avoid Debt
I stand by this. In most cases, it’s important to avoid debt like the plague. There are multiple methods for getting rid of debt if you have it, and I highly recommend you apply them. Now, I mainly mean debt with high interest rates, which could include your student loans, as well as credit card debt and other personal loans. Having a mortgage can be healthy and potentially more cost-effective than renting, as long as you don’t buy more house than you can afford. With that being said, as a general rule of thumb you should avoid debt. If not, carefully consider your options when you take on new debt (like when you buy a house).
To avoid being forced into unwanted debt, it’s important to build an emergency fund . Start by saving one month worth of expenses, and keep saving until you have six months of expenses saved up. That way when disaster strikes you won’t be ruined.
12. Stop The Get Rich Quick Schemes
We all know at least one person who is always jumping from one get rich quick scheme to the other. If you’re one of those people, you need to stop. Focus on more important things. These get rich quick schemes fail, by nature, and often cost you more than they make you. A great example is MLMs, aka multi-level marketing businesses. They’re essentially pyramid schemes. The harsh reality is that most people who get involved lose money even though they’re sold on the idea of making tons. Other examples include things that involve predatory tactics – which, if you partake, you should stop given the moral implications.
One final get rich quick scheme to avoid is day trading. No, it’s not exactly a scheme, but most people overestimate their abilities. Keep your investment strategies simple and focused on the long-term. Many day traders lose money. Few ever beat the passive investment of buying index funds and ETFs and holding onto them for the long haul. So, why bother with day trading when you can make more money with less headache?
13. Get Ready For Retirement
I’ve written articles on the details behind how to retire as well as how to plan for your retirement. If you need help preparing and investing for retirement, I encourage you to check out my primary article on FIRE. There are tons of options available to you and the earlier you start taking advantage of them the better off you’ll be. For the best brokerage, I recommend M1 Finance. They have tons of great stocks, index funds, and ETFs, plus they’re easy to use. I also love their portfolio system that lets me customize my allocations with ease, or their prebuilt ones that let beginners jump in immediately.
14. Learn To Forgive
It’s hard to forgive, but it’s an important part of being an adult and living life. If you spend all your energy focused on how someone wronged you, then you’re not able to use that energy to better yourself. You don’t have to forget what someone has done. In fact, the relationship may not be the same again, but do your best to forgive. If you focus on it you’ll end up hurting yourself more than anything. Don’t give in to hate – try to use your energy for productive endeavors.
15. Stop Being Envious
Again, if you want to stop being bitter and become richer, then you need to stop with the jealousy. Envy is a disgusting thing to see, and I’m sure you’ve been disappointed with yourself for feeling it before. Envying someone else does nothing to help you out. I know it can be easy to slip into that, especially when you’re focused on improving your finances. One way to manage envy is to avoid comparing yourself to anyone else.
Be happy for others when they’re successful, but don’t envy them. Instead, see what you can learn from their success. Better yet, figure out if you can apply that in your own life. Surround yourself with people who are in a better position than you, and you’ll see lots of areas to grow and get a lot of educational tidbits.
16. Don’t Dwell On The Past, But Learn From It
This goes with learning to forgive, but you also shouldn’t dwell on the past in general. Specifically, you shouldn’t dwell on things you’ve done, or bad things that have happened that were out of anyone’s control. Obsessing over unchangeable things that already happened is a recipe for disappointment, anxiety, and even depression. Whatever happened in the past is in the past. If possible, learn from it. However, don’t let your past hold you back from a richer and more rewarding future.
17. Network
As I said before, surrounding yourself with successful people will do nothing but help you. Now, don’t go around asking for handouts, but try to meet new people from many different backgrounds. You’ll learn a lot, have new opportunities, and possibly gain several great friends along the way. With that being said, don’t force things or focus purely on what you can get out of a networking event or a new relationship. Keep your mind open and do your best to create connections that are mutually beneficial. If you try to take from people without giving in turn then nobody will want to continue networking with you, much less work with you on anything or give you advice.
18. Be Introspective
This is one people have a lot of trouble doing, even when they’re aware of the need for it. Sometimes you just need to get comfortable with yourself, your thoughts, and your emotions. Understanding yourself is the key to improving yourself so that you can have a brighter tomorrow. Learn what makes you tick, what drives you, and figure out what methods work best for you. Everyone works differently, what helps you stay productive is likely far different than what helps me or someone else stay on top of things. Many people are uncomfortable with introspection, but it can be one of the most enlightening traits for you to have.
19. Take Care Of Your Body
This one is easily as important as being financially secure or keeping your mind sharp. Somehow, I tend to see it overlooked all the time. Your health shouldn’t be your last priority, it should be one of your top concerns. Do yourself a favor – eat healthy and workout. If you don’t have a good gym nearby, or want to save money, then buy a home gym . There are absolutely no excuses for you to not have a healthy life. Besides, the healthier your body is, the better your mind will be and the more energy you’ll have to get everything you need done.
20. Seek Help
For those of you who want to become richer, and less bitter, it’s important to seek and ask for help when you need it. If you need advice, turn to someone you trust. If you need an accountability partner, find someone who can serve the role. When you need financial help, don’t be afraid to ask people more knowledgeable than you or do some research. There is no shame in learning from others and asking for assistance if you need it. It’s more shameful to not ask for help when you need it!
Conclusion
There we have it, 20 tips for you to go from bitter to richer. If you have any tips of your own, be sure to let us know what they are in the comments. Let me know which tip resonated the most with you, and which one you wish more people would take to heart! As you can see, not every tip is easy to follow, but I believe every single one is worthwhile and can be a great boon for you and your future.
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