Money

Didn’t win the Powerball? Here are 5 more reliable ways to get rich over time

People line up to buy Powerball lottery tickets in Los Angeles.
Lucy Nicholson | Reuters
People line up to buy Powerball lottery tickets in Los Angeles.

The chances of winning last night's $759 million Powerball were approximately one in 290 million. As CNBC's Kevin Breuninger reports, you're more likely to get struck by lightening, attacked by a shark, hit by a meteor and score a hole-in-one on the same day.

So if you played and lost, it's probably not a huge surprise.

If you're looking for more reliable ways to build wealth, consider these five money strategies personal finance experts and other ultra-successful people recommend.

You're much more likely to see your bank account grow.

texting_0432.jpg
Richard Levine | Getty Images

1. Set up automatic bank transfers to your savings account

Tom Corley, an accountant and financial planner who spent years researching and interviewing self-made millionaires on their daily habits, encourages everyone to automatically transfer money into a savings account before you even see it.

Corley suggests putting aside 20 percent or more of each paycheck. If you can't afford that, start with $100 or $50 he says.

The logic is simple: By not seeing it in your checking account, you're less tempted to spend it.

"Having money set aside in savings allows you to take advantage of opportunities," Corley writes in his book "Change Your Habits, Change Your Life." "Without savings, opportunities pass you by."

2. Contribute more to your 401(k)

To make your life much easier down the road, get in touch with an HR representative who can help you set up or increase your contributions to your 401(k), an account in which you invest a portion of your paycheck to access when you retire, reducing the taxes you would pay on that money now.

Many companies will match a certain percentage, boosting your retirement savings. Ask how much your employer matches, and at a minimum, contribute that amount. Financial planners suggest contributing 10 to 15 percent.

In addition, consider additional retirement savings options, such as a Roth IRA.

3. Ask for a raise

If you feel you're being underpaid, do a few things before you approach your boss. First, make sure you know where you stand. Use online tools to estimate your worth, do some additional online research of your own and talk with people in the same industry.

Second, reflect on your work over the past several months. Have you met and exceeded expectations? Have you contributed in helpful ways? You'll want to ask for a raise only if your performance has been exceptional.

Make sure to set up a meeting months before compensation decisions are made, use language that shows your enthusiasm, and support your case with metrics that underscore your value.

4. Generate passive income

Building another income source that requires less work than your 9-to-5 job can help you earn cash more quickly.

There are many options, including investing in mutual funds, participating in the sharing economy or freelancing on the side (as long as your employer doesn't prohibit it).

5. Check in on your spending and saving each week

Kyle Taylor, a millennial who pulled himself out of thousands of dollars of student debt and went on to become a self-made millionaire, has a fun way of keeping track of his money.

Every Sunday, he cooks a nice dinner for himself and has a "date night" with his finances, during which he sits down with his receipts and smartphone to look over where he spent money and how much he saved.

The habit, he says, has helped him curb bad money habits and develop new ones.

"I look at my retirement savings, I look at my emergency fund," says Taylor. "I ask myself, 'Am I getting ahead or am I falling behind?'"

Like this story? Like CNBC Make It on Facebook.

Check out 6 ways to save more money without trying too hard