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The stepping stones to making your first million are actually the foundation blocks for achieving financial freedom — something most of us are striving for. How to make 1 million rand in a week. While it requires a tremendous amount of luck to become very wealthy, anyone can achieve financial freedom.

The secret is not how much you earn or how much you have but rather how much you spend. If you can control your spending and live a sustainable life, you can achieve financial freedom relatively quickly.

How to make 1 Million Rand in a Week a

Three steps to financial freedom – How to make 1 Million Rand in a Week

I believe there are three steps to financial freedom, these steps need to be followed in a specific order to be sure of reaching your goal. I will explain each step in more detail, however it is worth noting that very few people manage to achieve the first two steps by retirement age. Living with too much debt is the primary reason that most people fall behind the few who get it right.

Your steps to financial freedom:

  1. Be debt-free
  2. Have an emergency fund
  3. Ensure your income from assets covers your expenses.

1. Be debt-free

Most of us will need to borrow money early in our careers. Usually we need debt to buy our first vehicle and home, some people might also need to borrow to start a business. Debt can be a wonderful tool for wealth creation if it’s used to buy assets that will appreciate in value at a good growth rate.

This can be called good debt and should be used wisely. However you also get bad debt, which is usually incurred on your credit card, overdraft or via a personal loan and is used to buy items that have limited resale value. Many people use debt to buy clothes, shoes, furniture, holidays and entertainment.

This is pure wealth destruction as this debt is enormously expensive and you are only deriving a short-term emotional benefit from these purchases. If you cannot buy these goods with cash, you simply should not buy them at all.

How to make 1 Million Rand in a Week

2. How to make 1 Million Rand in a Week – Have an emergency fund

Once you have eliminated all your bad debt and have a limited amount of good debt, you should start building up your emergency fund. This is money that is available at short notice to cover unforeseen expenses. If you don’t have an emergency fund, how will you pay for damaged car tyres or pay an insurance excess when your geyser bursts at home?

In most instances, you will need to use your credit card or some other form of debt. This only sets you back again as you now need to pay off debt before you can get ahead. I think an emergency fund should be three to six months’ of your expenses. If you spend R20 000 per month then your emergency fund should be worth R60 000 to R120 000. This money can be stored in your access bond, a money market account or savings account.

3. Have investments that can generate enough income to cover expenses

You should only start building up your investments once you have finished the first two steps. How to make 1 Million Rand in a Week. Unfortunately there are no investments that are guaranteed to grow faster than the interest charged on a credit card or overdraft. This means there is no point building up your savings and investments when you owe money on your credit card. You should aim to build up an investment portfolio that is 20 times the amount of your annual expenses.

If we assume that you spend R20 000 every month, this is equal to R240 000 per year. If you want to be financially free, you will need at least R4,8 million of investments. I would also suggest that you have extra capital to cover additional, unplanned expenses, so you should aim for R5,5 million. This money should be invested in a range of investments that include cash, bonds, property and shares.

With modern investments you can buy all of these different types of assets in one portfolio. This could be in the form of a balanced unit trust or share portfolio with exchange traded funds (ETFs). The best way to build your investment portfolio is by developing a savings habit where you spend less than you earn every month so that you can save the difference. Ideally you should save at least 15% of what you earn every month. For those who are really serious about achieving financial freedom even earlier, aim for 33% of your earnings.

Many entrepreneurs will struggle with this as they (correctly) argue that their capital is best invested within their businesses. I agree with this view in the early stages of a business’ life. However, once the business starts to stabilise and generate sustainable profits, the business owners would do well to draw a portion of the profits and invest them outside of the business.

This is a form of risk management where you can create an asset that is unrelated to your business. The ideal combination would be a great business investment that continues to generate real wealth while you have an investment portfolio that provides income certainty. This allows you to continue managing your business with relative freedom while ensuring that you and your family have relative financial security.

What you spend determines your future

It is pointless allowing your lifestyle costs to escalate at the same rate as your income escalates. If you do not control your personal expenses so that your income increasingly exceeds your costs, you are not creating the savings momentum required to build up your investment capital.

This is a problem faced by many high income earners who spend large amounts on vehicles, leisure properties and other lifestyle assets. I believe that you should have a balance in life, you should derive enjoyment from your efforts but it should be balanced with the need to build your asset base so that you can maintain a lifestyle in the years ahead.

Spend time on investments with your spouse

Financial stress is one of the biggest causes of divorce. It is noteworthy that many people who have achieved financial freedom at an early age are married and work in partnership with their spouse when it comes to financial decisions.

I think it is nearly impossible to create wealth if you and your spouse are not on the same page with regard to spending and saving. It’s the same as two horses trying to pull a heavy load but one horse is moving in the opposite direction to the other. The end result is that a lot of effort is expended but no progress made.

Don’t be afraid to get your hands dirty – How to make 1 Million Rand in a Week

We all know the stories of the tech billionaires who spent a few months working in their parents’ garage and managed to create sufficient wealth to feed a small country for decades. How to make 1 Million Rand in a Week. These are great and inspiring stories but they represent a very small percentage of the people who have tried to achieve the same result with no success.

People who embrace more unfashionable businesses offering services that people need on a daily basis are more likely to achieve sustainable financial success. For example, everyone needs a plumber, electrician, painter and handyman from time to time.

I realise there are very few parents who will brag to their friends that their school-age son is planning on becoming a plumber but there are many plumbers who have achieved financial independence comparatively early. Their contemporaries who became doctors and lawyers might have had more aspirational careers but many of them are still forced to sell time every day to cover their lifestyle costs without being able to build their savings. As many business owners will tell you, it may not be glamorous owning your business, but it can be enormously rewarding when you start to build an asset of value that can be sold.

This is especially valuable if the business can sustain itself without the daily input of the owner or founder. Personally, I would be advising young people to start focusing on careers that will enable them to build the skills to own their own businesses one day.


How to make your first R1 million

How to make your first R1 million Video

How to make your first R1 million Video

A Million Random Digits Review / HowTo

A Million Random Digits Review / HowTo

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Here is everything you need to know about bitcoin and how you can buy and invest in bitcoin in South Africa(


You can buy bitcoins through one of the South African bitcoin exchanges and transfer funds through any of the major South African banks. (

You can digitally trade bitcoin once the funds have cleared as well as trade face to face with sellers or service providers who accept bitcoin. ?The two oldest bitcoin exchanges in South Africa are Luno and ice3X (ice-cubed). (

These two South African bitcoin exchanges accept a direct deposit from your current bank account or a payment facility such as PayPal. (

It’s more expensive to use PayPal to buy bitcoin and the extra fee that’s charged does depend on the exchange rate. (

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Masthead (Pty) Ltd will not sell or rent its user’s personal identifiable information to third parties. (

Furthermore, the only information Masthead (Pty) Ltd will ever disclose to third parties is aggregate information about its users. (

Changing of Information Masthead (Pty) Ltd reserves the right to change the Privacy Policy on an ad hoc basis at its sole discretion. (

Masthead (Pty) Ltd is not responsible for the content or privacy practices of non-Masthead websites to which it refers. (

It’s one way to make your bitcoin work for you as opposed to holding onto it in your bitcoin wallet. (

You don’t pay to have a bitcoin account or bitcoin wallet. (

The bitcoin exchange you sign up should offer you a free bitcoin wallet as part of the deal. (

Buying bitcoin starts with signing up for a mobile app that allows you to obtain a bitcoin wallet. (

Then it’s possible to use traditional means such as a credit or debit card or a bank transfer to buy bitcoins on a bitcoin exchange using a bitcoin wallet to “bank” your bitcoins. ? (

Once the funds have cleared, you can buy and trade bitcoins in a safe and secure manner; typically by transferring what you have purchased to your private bitcoin wallet. (

Any bitcoins that you are not trading with should be withdrawn from the exchange and transferred to your own secure private bitcoin wallet for safekeeping. (

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Bitcoin wallets are available in different forms. (

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If someone contributes just R500 per month and receives that rate of return, it would take less than 30 years for them to become a millionaire. (

Doubling the rate of return from 5% to 10% only shaves nine and a half months off the time it takes to become a millionaire. (

This shows that at an undemanding monthly contribution and at an extremely realistic potential rate of return, becoming a millionaire is simply a matter of time. (

If an investor keeps up the monthly contributions and shows the necessary patience, it is well within reach. (

You have 65% more than your original investment thanks to the power of compounding. (

The longer you leave your money to grow, the more it will be worth thanks to the power of compounding. (

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Saving R17 000 in your personal capacity will mean that you have to say no to the occasional weekend away. (

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Signing up with a bitcoin exchange using Luno as an example; you’ll go through an easy step-by-step process to register a bitcoin account, place an order to buy bitcoin and start trading bitcoin: Sign up for an account Verify your account – simply verify your email. (

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Leaving money in the bank over long periods of time is not an investment strategy, it’s a long slow-burn to poverty. (

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I’ve maintained a cautious stance on all interest rate sensitive stocks, not least because of unpredictable political risks and the impact that has on bond pricing and thus present values of stocks. (

But, if this portfolio then achieved average annual returns of 12% and inflation remained at 6%, by the time you retire at the age of 65 years, your investment would be worth a whopping R996,000 in real terms. (

Investment Management, 12% of profits, can be expected to deliver flat numbers on weaker fee income. (

The book provides real examples of ordinary people who have reached their financial goals and explains how you can do the same. (

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Some local and international companies are so eager to get more clients to use their products and services that they will pay exorbitant amounts of money for new client’s acquisitions. (

You get a: desktop wallet that you download on your desktop computer mobile wallet app that you can download on your smart phone web-based/online bitcoin wallet that you can access through the web physical hardware wallet secure paper wallet A bitcoin wallet is similar to an email address that is unique to you. (

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The market price of bitcoin is dictated by supply and demand and the markets faith in the value of the commodity. ? (

The price of bitcoin is fluid, and in recent years has been highly volatile. (

It’s not the actual price of bitcoin in South Africa; merely the converted price from US$ to Rands(

To find the real price of bitcoin in South Africa, you need to refer to the bitcoin exchange that you signed up with to open a bitcoin account. (

How to convert Rand to bitcoin To work out how much bitcoin you will get for a Rand amount; divide the amount you want to spend by the current price of bitcoin in South Africa(

Rand amount to spend / price of bitcoin = BTC total To do a Rand to bitcoin conversion, it’s important to first get the price of bitcoin in South Africa before you divide by the amount you want to spend. (

If the bitcoin exchange fee is 1% and the price of bitcoin is R8 000; the fee will be R80 to trade. (

To work out what fee you will pay to withdraw on a bitcoin exchange, multiply the price of bitcoin by the BTC fee amount to get the cost in Rands. (

Work this out by multiplying the price of bitcoin by 1.01 R8 000 x 1.01 = R8 080 To work out only what the fee amount will be: multiply the price of bitcoin by .01 R8 000 x 0.01 = R80 1 bitcoin = 124 955.78 South African Rand R 124 955.78 x 0.01 = R 1 249.56 0.8% for a trade Most bitcoin exchanges in South Africa do not charge a withdrawal fee on bitcoin exchanges. (

Bitcoin miners do this by solving a complex mathematical problem which allows them to create a blockchain; in other words, blocks of transactions that form a chain. (

The rate at which bitcoin is issued is set in the software code so bitcoin miners cannot cheat the system or create fraudulent bitcoin. (

Bitcoin miners confirm transactions that are sent and received via the P2P network A transaction has to be included in a block to be considered secure and finalised. (

Miners ensure the P2P network is secure Bitcoin miners make it difficult for the P2P network to be hacked, altered or stopped. (

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Bitcoin miners earn money from transaction fees and earn bitcoins as a reward for their work if they are available. ?The mining system is what keeps the P2P network going. (

It’s a race to solve blocks faster and more efficiently so bitcoin miners invest heavily in specialised computers that have greater processing power as well as join mining pools to have strength in number. (

What is a bitcoin debit card and do I need one? ? (

A bitcoin debit card is a transaction card that is linked to your bitcoin account. (

Bitcoin debit cards work like traditional banking debit cards and can be used to withdraw and deposit money at an ATM or used at the point of sale when buying an item. (

It saves you the hassle of drawing money from a bank account; instead, a bitcoin debit card draws directly from funds in your bitcoin account. ?There is a nominal charge if you obtain a bitcoin debit card. (

A bitcoin debit card must be ordered direct from the bitcoin exchange you have signed up with; do not let a third party provide you with one because they then have access (the keys) to your bitcoin wallet and can fraudulently access your bitcoin funds. (

When you buy something using a bitcoin debit card, only the amount of cryptocurrency you need is sold for fiat currency. (

Hence, blockchain technology. (

Depending on the transaction, one block can store a few thousand transactions. ?The information in the blockchain is open for anyone to see and therefore transactions using blockchain technology are transparent and everyone is held accountable for their transactions. (

This is because bitcoin was the first application to successfully use blockchain technology in the form of open source code and since then bitcoin and blockchain are often used interchangeably. (

Cryptocurrencies such as bitcoin are built on blockchain technology. (

Bitcoin was invented by the mysterious Satoshi Nakamoto who used blockchain technology to allow digital information to be recorded and distributed but not changed or edited. (

There is some talk that bitcoin may possibly be floated on the Nasdaq which would boost the credibility of blockchain technology and how it is used as an alternative to conventional currencies. (

Like bitcoin, ethereum is an open-source platform that uses blockchain technology to create and run decentralised digital applications otherwise known as ‘dapps’. (

What is bitcoin mining? ? (

To fully understand how bitcoin works, you need to know more about bitcoin mining and why people do it ? (

Bitcoin mining is done by people who have specialised computers. (

The purpose of bitcoin mining is to secure the peer-to-peer network and process every bitcoin transaction that comes through on that network. (

It’s a form of digital currency where no one controls it; and it’s not printed like ordinary Rands, US dollars or Euros. (

This takes intermediary banking services out of the equation, such as PayPal, MoneyGram, and Western Union. ?It’s a decentralised digital currency and the largest of its kind in terms of total market value. (

Through this process, Nakamoto solved the double-spending problem inherent to digital currency using a peer-to-peer network. (

You can’t see it or touch it; it exists as a completely digital currency that looks like copious lines of codes. (

It’s an electronic or digital currency that is not backed by a central government or bank because it is decentralised and global. (

Tax revenues in South Africa In 2019, SARS assessed 4.9 million taxpayers, about 75% of the tax base, meaning around 6.5 million individuals pay all the income tax in the country. (

Total tax revenue collected amounted to R1 287.7 billion, growing year-on-year by R71.2 billion (5.9%), mainly supported by Personal Income Tax (PIT) which grew by R30.9 billion (6.7%). (

Personal Income Tax (PIT) at 38.3%, Corporate Income Tax (CIT) at 16.6% and Value-added Tax (VAT) at 25.2%, in aggregate remain the largest sources of tax revenue and comprise about 80.1% of total tax revenue collections. (

The largest portion of this income (65%) is held by taxpayers who gross more than R29,000 a month (R350,000 a year), who ultimately paid over 83% of the country’s income tax in 2018/19. (

This same group paid 37% of all assessed income tax in 2018/19. (

In fact, around 800,000 assessed taxpayers paid more than two-thirds (67.6%) of all assessed income tax in 2018 – these are those individuals earning over R500,000 a year. (

R8 000 x 0.005 = R 40 1 bitcoin = R 124 955.78 South African Rand ? (

Bitcoin transactions are stored and transferred using a distributed ledger on a peer-to-peer network. (

Blockchain is the technology that maintains the bitcoin transaction ledger. (

The purpose of bitcoin mining is to secure the peer-to-peer network and process every bitcoin transaction that comes through on that network. (

How to make 1 Million Rand in a Week