(Click here for part two in this series on sure-fire strategies for becoming loaded...)

You want to be rich, right? We all do and we all can. Over the next few months we’ll feature some sure-fire strategies for becoming absolutely loaded. And I swear it will work.

There is a catch, though. While I guarantee that by following the strategies set out in this series you’ll become wealthy, it won’t happen overnight. Sorry, this is not tata ma chance. You have a 100 percent chance of ‘winning’; however it will happen slowly (but surely!) over your lifetime.

So without further ado, your first three strategies for rolling in it...

1) Pay yourself first

If you’re like most South Africans you live from paycheque to paycheque and save little or nothing. Instead of trying to save what small amount you have left at the end of the month, why not ‘pay yourself first’ at the start?

Treat yourself like you would your creditors. Set up a debit order and deposit five or 10 percent of your salary into an investment or savings account before you ever see it. At the end of the month you’ll still be broke, like always, but you’ll have saved something.

Many people find it near damn impossible to stick to a budget and if there is anything left we can’t resist spending it. However, by paying yourself first you can’t be tempted to blow everything and will unconsciously adjust your spending. When you have less you spend less! With little effort on your part you’ll get used to living on what remains and soon you’ll have a handsome nest egg!

Obviously, you still need some discipline to not continue spending after you have nothing left. Don’t ‘pay’ yourself too much so it becomes impossible for you to make your salary last. Be realistic. If by some miracle you have something left when the month is over you can always save that too.

A painless way to start out is by ‘paying’ yourself only one percent of your salary in the first month and gradually work your way up to, say, 10 percent.

Another trick is to pretend you didn’t get a raise. Take your increase (or part of it) and put it into your savings or investment account every month. You’ll have the same amount of money to spend as before, making ‘paying yourself’ completely painless!

2) Be patient — buy and hold!

From 1985 to 2005 the S&P 500 delivered and annual average return of 11.9 percent while the average investor earned just 3.9 percent annually. The majority of investors seemingly switched in and out of funds at just the wrong time, selling low performers just before a recovery and high performers just before a fall.

If an investor had bought average stock back in 1985 and just patiently left it there they would have made eight percent more than those who actively played the market.

The biggest destroyer of wealth is going in and out of investments. Transaction costs can devour your profits if you trade too frequently. For the average small investor buying and holding good quality shares will always be a better bet than trying to time the market.

If you’re patient the stock market is not risky at all and will outperform all other asset classes. If you’re patient.

Returns from the JSE can vary dramatically over one-year periods. However, returns over 10-year periods have been more stable and usually positive.

If you’re patient and invest over, say, 20 years there is no reason to invest in a ‘safe’ asset at all. The return from your ‘risky’ asset would be huge and the risk almost completely negated by time.

3) Learn the difference between good debt and bad debt

South Africans love debt. Borrowing money is way up there with braaivleis, rugby and moaning as one of our favourite pastimes. And man, is it easy to borrow money! National Credit Act my foot! In the past lenders looked for customers who were sure to pay them back, but today those that are perpetually in the red are most sought after.

Debt can sink you faster than you can say ‘Titanic’. And yet, not all debt is bad. Good debt is money you borrow to buy things that can go up in value or increase your earnings potential — an education, stocks (but only if your return is likely to beat the cost of borrowing), bonds, mutual funds and the best of the bunch, a house. Also, borrowing money on your home loan to service more expensive credit card debt is definitely a good idea.

Bad debt is money you borrow to purchase something that quickly declines in value — any disposable item, a vacation, clothes, restaurant meals and, yes, a car.

Generally, the use of a credit card for anything is considered bad debt as the interest you pay is exorbitant and it’s easy to lose track of what you are spending.

What about borrowing to buy durable goods that does not contribute to wealth creation? I’m sorry to say it, but if you can’t afford to pay cash, then you can’t afford to buy it.

Admittedly, the cost of a car can be higher than most people can pay in one instalment. However, the problem is that many people buy cars to stroke their egos. Pay cash if you can, even if the car you drive is 10 years old.

Click here for part two in this series on sure-fire strategies for becoming loaded...

44 ways to make more cash It's not easy to make extra money, but it can be done if you're creative. Here's how...

What will you regret? Advice to a reader who wants to know if he should accept the promotion he's been offered...

How to ditch all debt Do you have credit card debt? Do you want to pay off your home loan more quickly?