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The Side Hustle
- A side hustle is when you continue to earn money, putting food on the table, and from your savings and the free time you have, build something that can have some value much beyond the time and money it took to build. Example: You can use your late evenings and weekends writing a book or a manual on what interests you, and what you are passionate about, even if it is just a recipe book.
- Another way is to devote 70 to 80 percent of your time in your side hustle(now your main work project) while leaving aside some time in a week to work for money to cover your basic expenses, probably some freelance gig work, giving you a safety net. The day job is then your passion project, which will (hopefully) create wealth in the long run.
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MORE IDEAS FROM THE SAME ARTICLE
- Creating wealth means a lot of expenses initially, and is a risky proposition.
- A decent number of startups go bust, with the founders going bankrupt. They would have earned more just doing consulting or freelance work, but they chose to ‘burn’ money instead, with a...
Another way is to devote 70 to 80 percent of your time in your side hustle(now your main work project) while leaving aside some time in a week to work for money to cover your basic expenses, probably some freelance gig work, giving you a safety net.
The day job is then your passion ...
Most jobs are purely money generation, and have little to do with wealth. Generating wealth is an entire different ball game than earning money, which you can easily do by learning a few in-demand skills, and taking up a job or freelance work.
The secret sauce to create wealth while keeping your boat afloat is to balance the two forces at play, the force of wealth creation and the force of money or income generation.
MORE LIKE THIS
As the chart shows, if you want to build wealth, there are really only two things to get right:
- Increase the difference between your income and expenses
- Save that difference and grow it exponentially over time
That’s it.
This chart shows you exactly how much y...
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The foundation for every personal pursuit in life is to invest in yourself. It can take years. How you can do it:
- Learn to build something. If you can create something valuable with limited resources, you can create value.
- Learn a rare and valuable skill.
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The definition of wealth is personal. It may mean something different to everyone.
To some people, wealth is always going to mean money. But it's not that straightforward. 41% of people feel "wealthy" if they have meals out or food delivered. Services such...
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