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How to Become Rich in Malawi Realistically in 2023

How to Become Rich in Malawi Realistically in 2023

8 April 2023 79 Comments

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Becoming rich in Malawi is a dream of many people . Malawi as one of the poorest countries in the world has more people who earn less than a dollar a day. Therefore, it is no surprise that there are many people searching ways on how to become the richest people in Malawi.

Well who doesn’t want to be called the richest person in Malawi? We all do.　I know well, being one of the people who grew in a poor family, I cannot miss words, poverty is harsh. There is nothing so painful as living a life of where almost all good things are limited- they are out of touch. It is a sad truth to admit that poverty snatches away our freedom to experience the fullness of life.

This is why many people like myself who desire to have the freedom to choose the kind of life they want, clothes, cars, beautiful homes and access luxuries would strive know to how to become rich in Malawi.

In this article, I highlight 5 ways to become rich in Malawi, which I have learned. And I am trying to put them into practice so that a decade or some years from now my story would be different. I am sharing them so that if you find them worth, we can walk this together. So that some day we should meet at the top.

So that in near future when people ask Google or ChartGPT the questions below, our names should show up

Who are the richest people in Malawi?……..

Who is the youngest millionaires in Malawi?
Top 20 richest in Malawi in year....

Who is the richest woman in Malawi..

Who is the richest man in Malawi…..

black businessman with wristwatch in yellow automobile
Photo by Ono Kosuki on Pexels.com

Now, lets begin….

Invest in Yourself

The most important thing to consider if you want to become rich in Malawi is investing in one self. It is crucial that for a person to become rich he or she needs to acquire the necessary knowledge for the rich.

There are different ways of investing to gain knowledge and skills. I will mention here that one such way is by finding a mentor.

Mentors provide the shortest way of gaining practical knowledge in any filed. Take some effort to learn from a mentor in the areas you are specialised.

Apart from physically having mentors start reading good books about wealth creation and biographies of successful people.

Furthermore, read as much as you can from the internet. And take courses that will help you to be more marketable.

Start the Most Profitable Business in Malawi

Without doubt, doing business is one of the best ways ordinary people turn to millionaires.

For them who seriously need to become rich in Malawi, they right away start of becoming businesspersons and entrepreneurs.

There are many business ideas to start in Malawi. Your duty is to find a suitable business idea and invest in it. It is very difficult for a person who depends on monthly salary alone to become rich in Malawi.

As a matter of fact, the majority of rich people in Malawi and the world at large make their fortune doing businesses. Doing business in Malawi requires dedication, patience, and financial prudence.

However, the efforts and risks are worth your time.

Start Saving for Investment

Saving is one way to accumulate wealth from scratch. Many people in Malawi find it difficult to save money. However, developing a long-term saving plan is crucial when you want to become rich in Malawi.

Saving while it is crucial in achieving financial freedom, it is not easy for most people. As such it is better to start saving small amounts, lets 10% of your monthly income, and then increase gradually.

Saving may be hard at first but with time it becomes easier. Do not make the mistake to think that what you earn is too small to save. It just requires some discipline.

One way to save more is by deciding to cut down unnecessary expenditure on luxuries. After some time the money saved can be used to start a business or make investments. The key point is that to start saving earlier in life.

Stay out of Bad Debt

Debt is the devil that drains the financial freedom for many people. In attempting to accumulate wealth debt is one thing a potential candidate has to drop off. Of course bear in mind that there are good debts, where you borrow to invest. And bad debts, debts for consumption.

Learn to stay out of bad debts. If already in debts find a way to repay them as quickly as possible. A good debt strengthens the financial muscle while a bad debt eats away your wealth.

Read 10 Ways to be debt free

Develop multiple sources of income

Research results show that the average millionaire has about seven sources of income. This point simply shows that to be on the safer hands in the wealth creation path a person has to have multiple sources of income.

Putting all eggs in one basket is too risky; therefore, wisdom recommends diversification as the way to go.

Be able to execute multiple tasks with efficiency. The secret of the rich is that they make their money work for them. Because rich people know how to use their money to work for them, they are able to set up multiple income sources. And some money comes to them passively while they are sleeping.

Show off is a trap

You may agree with me here that there are some people who earn considerable amounts of money consistently, yet their financial status remains stagnant. They remain below the rich bar. And you may wonder why such is the case.

There are many reasons unique to each person’s experience, however, one of the reasons that rob people the freedom to become rich in Malawi is show off. A person who wants to become rich should have enough discipline to control his ego by knowing what is the right thing to do with the money.

In most cases those who live to impress expecting everyone to talk about how much they money have, quickly lose their fortunes.

It is good to jealously guard your money; otherwise, it will fly off like the winds. Show off is a deadly trap that we should avoid at all cost.

Have a positive attitude towards money

It said quite often that everyone has unlimited earning potential. How much a person earns also depends on how he or she thinks about money.

Money follows people who have positive attitudes towards it. People who think being rich is evil repel money and attract poverty. It is important to develop positive attitudes towards money and towards rich people.

Being jealousy with the success of the rich is a recipe to attract poverty. Start looking at rich people as a source of inspiration. Read their biographies and learn how they made it to their present success.

If a person walks in the company of the rich, he/she start to think like them and increase chances of succeeding like them.

Summary

In this post, I have shared tips to help you become rich in Malawi the right way. It is clear that to become rich in Malawi is a thing which cannot be done overnight. It requires working hard and smart. Becoming rich is a product of persistence and discipline.  Everyone can become rich; the only restricting block is our mind. Even when we do not become the richest in Malawi, the fact that we have a desire and are striving to create wealth for our generation and beyond is something to cherish.

79 Comments

  1. Rafting In Rishikesh

    Hi
    This is the best article
    Good information

  2. Mbugwile Nkolokosa

    Very good article.
    Wealth creation requires hard work, patience, discipline and persistence. instant wealth is only acquired by illegal means. If you’re lucky through inheritance.

  3. Jin Ermelo

    Think Out of the box. Normal solutions are not going to make you rich. But deep thinking and doing the impossible – disrupting normal businesses will get you along the journey to riches.

  4. henry

    This is really good boss

  5. Martin Nyondo

    Very useful information.

  6. Stanley

    UR article depicts the real practical situation For Malawi… I have liked each part of it.. Thump up bro…

  7. Alfred

    Ur article is very helpful , Thanks alot

  8. Thokozani Tausi

    I like it

  9. Roiter Jiya

    am really enjoying your articles as if am reading in chichewa well said and well simplified have nothing may the good lord continue blessing u and to reach ur goals as ur entertaining us while raising the flag hi

    • Chimwemwe Nuka

      Hi Jiya

      Thank you for reading and enjoying the articles.
      I believe in simplifying things.

      Please visit again

  10. Boniface Nkhalamba

    You are the best Mr. Nuka

  11. Alick Kachigwada

    I am greatly inspired by your article. Being one of those youths who always dream about success, I would rather wish if you are my mentor.

    Thanks

    • Chimwemwe Nuka

      Hello Alick

      I am glad you found some of the articles useful. Thank you for visting

      Cheers

  12. Gabriel Kalonga

    After reading the article i just feel like am already rich.. this is awesome Mr Nuka a good article

  13. Jack kandodo

    Very helpful article big up Mr

  14. Wellos Nkunbira

    Thanks for your encouragement I a preciate it

  15. Fred Leonard

    This is great man..nice article

  16. witness Hembeyani

    keep it up bro ,that’s encouraging.

  17. Okasiya

    This is a great piece. Very true and helpful. Thanks bwana Nuka.

  18. Joshua

    So helpful, I like it

  19. Fortunai Mndolo

    This is so profound

  20. Daudie Sandram

    Point taken

  21. Mike

    I’m encouraged some areas have changed God bless you Mr

    • Chimwemwe Nuka

      Thank you Mike. I am glad you found some information useful on the blog. God bless you

  22. Banzo Mwanzo

    Keep on. This is so encouraging and I hope it will help those who didn’t have such ideas

  23. Ronnex Nkonhia

    Wow , that’s awesome and your article is very audible and useful . Thank you so much for your advice and may God bless you boss Nuka

  24. Ronnex Nkonhia

    Hi there Mr Nuka , I’m very interested in your article and may God bless you . Thank you so much Mr Nuka .

    • Chimwemwe Nuka

      God bless you too Ronnex. Thank for reading this blog

  25. Ekari Faria

    This is very good for us Young people

  26. Mary smith

    I am trying to help my friend. He has done some small renovating jobs and has set up a company in Malawi.
    I told him start small. Think of ways you can get yourselves known. Do other things in between to bring in some money. Do you think more training would be helpful?

  27. FINCHI ADSRIANO

    article yabwino keep it up bro,

  28. sautso mbumba

    two heads is better than one thanks for the tips, keep up the good work

  29. Rodrick Custom

    This is very helpful indeed

  30. Aubrey phiri

    Wow! This is incredible and impressive, I have been inspired by the way you have presented issues in your article, happy to have landed on your site. Continue inspiring people.

    • Chimwemwe Nuka

      My pleasure Aubrey. Thank you for visiting and encouragement.

  31. Alinafe Machira

    So helpful

  32. EVANCE DZUNGU

    I appreciate for those ideas

  33. Imtiaz

    Wow!Good tips,av learnt a lot boss

  34. Michael Keane

    Whilst the article is nicely written I found nothing in it to inspire a person to start a business ,I mean you didn’t focus on any particular business that might b worth trying

  35. Stella mandanda

    I have learned a lot in this article

  36. Loveless mithi

    I love what I have read,God bless you

  37. Bickiel

    I have changed my mind coz of this article thanks boss..

  38. Peter Chapendeka

    I’m encouraged with this article

  39. Peter Banda

    Big ideas well simplified for everyone to get this important message

  40. Andsen

    honest speaking, this article has changed my mindset.Thank you for sharing these good ideas, may God give you more

  41. Peter Chiundira

    Thanks Chimwemwe you have planted something bigger in my mind and now I believe and trust that soon fruit will grow up.

    • Chimwemwe Nuka

      Hie Peter. I am glad you found something useful on the blog

  42. Mantic

    Thanks, will follow the instructions.

  43. ANSTY CHIMBUVU

    Thanks for such a helpful article.

  44. Malumbo Vincent Ng'oma

    So helpful
    Thanks a lot bro

  45. Brian Suwali

    Helpfull.. Thanks a lot bro

  46. Hastings chipole

    So helpful
    Thank you very much

  47. Ruth Matenga

    Wow…I love this article

  48. Timuwonge

    Good article

  49. Innocent

    May God proceed to develop your mindset this is very useful to our citizens

  50. Martin Mulanga

    Appreciated

  51. Chimwemwe Moyo

    I like this, easy to understand and well simplified

  52. Vincent chimangeni

    This article has inspired me. I will follow instructions

  53. Lumbani Walins Nyirenda

    to become rich in Malawi is too difficult because of economic challenges we face as a country at large.
    You may start saving but from no where devaluations demoralize our motivation to success

  54. Mike Mhango

    Thas good article, to become rich needs to work on good ideas remembere is not any work can make you rich,but developed ideas.

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