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How to get Rich Being Lazy with Money

How to get Rich Being Lazy with Money

When it comes to finances, not everyone wants to know the ins and outs of it all. It is possible to know and do a few things to set yourself up for success.

Some also don’t want to scrimp and saving, doing every little thing to save money. It is up to you how you live your life, the lifestyle you want and how you want to manage your finances.

Here are 5 tips to help you set everything up without having to know it all.

Disclosure, this post may contain affiliate links.

1. Create a Plan

Without knowing what you want and creating a plan, nothing will happen. Work out when you want to retire, how much you want to retire with, what sort of lifestyle you want now and look at your income vs expenses to see how realistic what you want is. Our plan is here.

It can be a good idea to get help from a financial advisor or similar but be sure to do your research and choose the right one for you.

Another option many Aussies take is reading and implementing something such as The Barefoot Investor. It is basic, general plan and not one which will make you wealthy. If you are starting from nothing through, it’s a good start.

For setting up a budget, check out how to create and stick to a budget also how to create and stick to a budget as a single income family.

Our Plan

I have a clear budget, know all income sources and expenses so I can plan accordingly. My plan is to retire within 10 years, through business and other investments. I share more of this at Aspiring Millionaire, including net worth updates.

With this, for the next 10 years, I am not living a super frugal life. Our lifestyle involves hiking, travel, diving, outdoor activities, I have 4 kids and plan for car upgrades, sports, events etc. To me, it is important I am involved in my kids lives, we create good memories and have fun while aiming for financial independence.

My mother died at 37 and I turn 37 this year, after already having had multiple surgeries, paralysis and health issues. So keeping healthy and spending time with my kids is a priority.

This means, I found ways to make money as a family while travelling, we have frugal hobbies as well as some expensive ones such as diving but I get that free. I found ways to make money from home and remotely plus how to do it so my kids don’t feel I am on the laptop or hustling all the time.

2. Automate Everything

Once you know your budget and plan, a lot of it can be automated from investing and saving through to bill payments. This gets easier the longer you are sticking to your budget.

Often when starting out, it is difficult to juggle it all and get up to date on payments. You might feel as if you are chasing your tail and getting nowhere. Start by automating one thing, even if it’s $10 a week to savings.

As you progress and adjust your budget, you can increase what you automate.

What We Automate

I am someone who loves knowing how much things are, where our money goes, what our investments are doing etc. So while I do automate a lot, I review it regularly and it really is not a set and forget, although some things pretty much are.

Savings for specific things such as Invisalign I have set up to go to a separate account to ensure the money is there when I need it. We also set up automatic investments.

3. Patience and Compound Interest

Be patient with your progress. It takes time but the power of compound interest is huge.

Stick to your plan, knowing it will take time. In the beginning, it looks like nothing is happening then suddenly, in a few years, all that hard work starts to pay off big time and the results are clearly visible.

Read Atomic Habits and The Compound Effect to learn more, get motivated and set things up.

How I Practice Patience

Patience has not always been one of my best traits. In fact, I have gotten into significant debt as an 18 year old and over time, not always managed my money well.

By automating a lot of my money, it has made it easier to be patient. Visuals including what I am saving for, graphs with how much is saved and similar have helped me too.

Create a delayed gratification list. Put anything you want to buy on it and 30 days later, if you still want it, then look at working it into your budget.

Check out 5 tips to reduce temptation and 10 tips from a shopaholic to help you.

4. Invest. Invest. Invest

Putting money in the bank isn’t effective if you want to build wealth. Investing is. Shares, business, real estate, whatever you prefer and can get good returns on makes significantly more money than simply putting it in the bank to earn interest.

All investing has some risk, often the higher the risk, the higher the reward but if it doesn’t work out, it can be devastating. Work out your risk tolerance level by playing around with smaller amounts first.

For example, you can invest a few hundred with Spaceship or Raiz to see if you are comfortable with the fluctuation of shares.

How I Invest

I have a variety of investments including businesses which I am outsourcing more, real estate, shares and crytpo.

I love business although it can be stressful and it is definitely not passive. You can read how to set up a business for under $100 here and check out my eBook with 99 side hustles for Aussies to give you ideas.

With real estate, there are cultural stipulations around what we own and what can be done with it but it is something I will do more with. Check out some ideas with how to make your mortgage pay for itself.

Shares, indexed funds etc are my favourite as they are so easy. Buy and hold. You don’t deal with tenants, maintenance of a property or have expenses such as insurance, rates etc. And you can buy with small amounts then sell if necessary quickly compared to property or business.

5. Review Your Money and Plan

Finances need to be reviewed regularly. While automating it and doing what I have suggested above makes it easier, you do still need to review it all to ensure it is performing well and you are on track.

Simply setting it all up and leaving it forever can result in huge losses and financial difficulties. Always review it, know what your money is doing and make changes as necessary. Be smart about it though.

How I Review my Finances

Personally, I do a full annual financial review of all my expenses and make changes where possible. Then each week we have an abundance meeting too where I review all of it and track it on a spreadsheet. You don’t need to do this but it does help to know where your finances are at.

Passive Income to Make you Rich

The above is all aimed more at personal finances. I strongly believe in having multiple streams of income, as do most millionaires. In fact, they typically have 7 and business is usually included as at least 1 of those 7.

Here are some of the things I’ve done to make money that are mostly passive or require very little effort.

Renting out my Garage

I did this in Canberra, Sydney and Melbourne, each time it was around $50 a week. All I had to do was list it on Spacer or create and sign a contract with someone I knew, hand over a key or remote for the garage and get paid. The money was paid directly into my account each month so there were no issues.

Check your insurance policy and if you aren’t using a site such as Spacer, then I strongly recommend having a solid contract.

Dividends From Shares

If you own shares of a company, you get paid dividends when they make a profit. I reinvest my dividends so am not living off income from shares or anything at this stage. However, it is part of my retirement plan that I will be in a position to do it. With a little research or using simple platforms, this is easy.

There is the risk that companies won’t make money or they will go bankrupt etc. So start slow, test your risk tolerance level and how you feel with it before investing too much. Some people can handle the ups and downs of the sharemarket, others find it extremely difficult.

Quit Like a Millionaire and The Simple Path to Wealth are two good books to explain this better.

Real Estate

When it’s good, it’s great but when it’s bad it’s a nightmare. With a great property manager and tenants, real estate can be easy. Rent money comes in, expenses such as mortgage, rates, insurance etc go out.

However, when tenants trash the property, don’t pay rent, the agent isn’t checking things etc it can go south real quick.

I’ve experienced both, great tenants who took care of the property and I didn’t have to worry or do much. Then terrible tenants which meant my Sydney house pretty much had to be gutted.

I love real estate but am conscious it is not as passive as many people make out if you are focused on being a landlord.

Investing in property developments is another story. They can be much easier and less stress with a good chance of capital gains from it.

With multiple ways to invest in property, it is up to you to do research, get professional advice and decide what works for you, if anything when it comes to real estate.

Note: We have property in Vanuatu which is managed by family. It has rarely gotten stressful and overall we haven’t had to pay attention to it. When borders open, that will change though.


Done well and outsourced, this can become relatively passive. In the beginning there is a fair bit of set up though and you need a good team plus systems in place to ensure it runs smoothly.

Check out how to make money blogging for ideas on how to get set up and make money with it.

That said, if you do it all yourself it is NOT passive at all. Being a social media influencer isn’t passive either. It’s a lot of photos, video, editing, trying products, writing, a good marketing plan etc. It can be quite involved so don’t assume the 30 second video from someone with 1 million followers only took 30 seconds to create. It took much longer.


Owning a business doesn’t mean you have to work in or on the business. You can be a silent partner or investor and look at businesses to make good money without being hands-on.

Of course, going into business this way means you need money behind you and knowledge of business, which takes time to accrue. Based on my life and that of extended family members, I am convinced business is one of the best ways to get ahead financially and retire well if done properly.

How will you get rich by being lazy?


Books: The Barefoot Investor, Atomic Habits, The Compound Effect, 99 side hustles for Aussies, Quit Like a Millionaire and The Simple Path to Wealth
How to create and stick to a budget
How to create and stick to a budget as a single income family
How to become a millionaire even as a single mum
Aspiring Millionaire
Ways to make money as a family while travelling
How to make money blogging

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