Do you dream of becoming wealthy, but don't earn much? I swear it doesn't matter — all you need is time and knowledge.

'Get rich! Guaranteed!' was the first in a series of articles that provides simple strategies to help you become loaded no matter what you earn.

In this article, part two, I discuss how spending less than you earn, knowing what you're worth, utilising "the most powerful force in the universe" and not paying for things you can get for free will help you on your way to prosperity you thought was not possible on your so-called salary.

Spend less than you make

Seriously, it's that simple. No matter what you earn, if you spend less than you make you'll become rich. Fact. Conversely, spend more than you earn, even if it's R10-million per month, and you'll be in the poorhouse faster than you can say "insolvency".

It sounds easy, yet many people fail. Here are some pointers to help you abide by this most golden of wealth creation rules:

• Budget. The most common reason for failure is the fact that many people have little idea of how much they're spending or, for that matter, earning. Start by listing all your income streams (e.g. salary, dividends, rental income, etc.) and expenses (e.g. mortgage, electricity, entertainment, transport, etc.) over a given time period.

  Once you've listed what you get in and give out you have to draw up a budget that sees you spend less than what you earn.

  You'll find some spending cuts, like chucking your Loftus Versveld season tickets, easy to make. Also curb other non-essential expenses like restaurant meals, movies, travel and so on until you've brought your expenses in line with your income.

  Ask yourself what you can live without and then do so. Instead of viewing this budget cut as denying yourself certain things, rather focus on what you will be gaining — wealth beyond your wildest dreams!

  Although there are certain expenses you cannot do away with it's still a good idea to go down your list of essential spending and identify where you might get away with paying less. You may, for example, shop around for a lower interest rate on your mortgage and consolidate your debt, change your short-term insurance company or get a more suitable cell phone plan when your contract expires.

  Once you've drawn up your budget, stick to it and each month you'll be richer than before.  Click here to lean how to budget.

• Make more money. It's harder to raise your income than it is to limit your spending. Yet, it can be done.

  Sell your old books and CDs, start a blog with advertisements, drive people to work for a fee or rent out the extra room in your house — every bit helps!  Click here to learn about 44 ways to make extra cash.

• Budget for budget busters. It's a sad fact of life that there will be emergencies that you cannot foresee. What if you get retrenched or your car breaks? I suggest a "rainy day fund" equal to three to six months' salary. Such a buffer should prevent most unexpected events from derailing your plan to spend less than you earn.  Click here to learn how to create your own emergency fund.

• Pay yourself first! Don't like budgeting? Put some money towards an investment the moment you get paid. By doing this, as long as you don't continue buying on credit what you now have to do without, you've spent less than you earn.  Click here to learn more about the "pay yourself first" concept.

If you find all of this hard to do, why not start next time you get a raise at work? You're used to living on the money you earn now so just pretend you didn't get a raise. The same goes for other windfalls like your bonus, tax refunds or extra cash after you have paid off your credit card or other loans.

Charles Dickens had the right idea when he wrote, "Annual income twenty pounds, annual expenditure nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pound ought and six, result misery."

Article continues on page two: knowing your net worth, utilising the most powerful force in the universe and never paying for something you can get for free...