Hi Steemians!
Today we are talking about something that I am personally really passionate about, and that is the idea of getting to a place of financial freedom.
In this vlog, I talk a little bit about what financial freedom means, and the various paths people can take to get there. I talk about my own story and what has brought me to this point of focusing on building side streams of income.
Now, I know that there are many full-time entrepreneurs here on the site, but there are also lots of people like me that are still working a normal 9-to-5 job, but have aspirations of building something for themselves and increasing their overall income.
In this vlog, I talk about my own experiments with my finances, and how I ran a test for a few months to see exactly how MUCH money I could save by living on a shoestring budget. I actually referred to this period of testing as my, “Cans of tuna instead of sushi” budget. It was a sad couple of months!
I came to the realization that I could not save my way to financial freedom, but would need to fight my way there instead by increasing my income.
This brings up the next logical question, which is the main point of this entire post.
Is it more financially advantageous for you to pour all of your extra time and effort into your day job in hopes of earning more money, or should you look at building additional streams of income?
The answer to this question will be a little different for everyone, but most people are going to find that the ability to gain a substantial increase in wages through their employer is slim. Of course, there are ways to increase your financial situation within a normal employment enviornment. You could learn a new and in demand skill, you could look for a better employer, or you could try to get promoted into a management position.
This brings up the next question, is that what you really want? For some people, that answer is a resounding yes! Perhaps they love the stability of benefits and normal pay, or they enjoy the camaraderie of working on a team. For some people, the idea of branching out on their own does not appeal to them at all, because they like the structure of a normal working environment.
If you’re like me though, and dream of having more freedom in your life, then starting a side hustle can be a great way to make that happen. I’m not suggesting that you quit your job tomorrow without any idea of what you will do, and no savings. I tend to take a more cautious approach, and focus on building diverse streams of income.
Some of my attempts of been successful, while others have not. Right now, I am focusing much of my" side hustle energy" here on Steemit. It’s pretty amazing to get rewarded for publishing content, especially because it doesn’t even feel like work!
In the video, I mention a great resource for those who want to start a side hustle, but have no idea where to even begin. The Side Hustle School Podcast is a great starting point! The host, Chris Gillabeau, she was a different story every day people who have started income generating projects. Each podcast is under 10 minutes, so it doesn’t go into a lot of detail, but it’s a great way to hear a bunch of ideas all in one place. Often times, hearing someone else’s idea may spark something for yourself!
This video is about nine minutes in length, and I do a deeper dive on all of the topics I just covered above.
Now, I have a question for those of you who either have your own experience with starting side hustles, or are a full-time entrepreneur.
What tips or pieces of advice do you have for people who are just starting out in this idea of creating a side hustle or some form of income generating project?
I’d love to hear your thoughts on the subject!
Thanks so much for taking the time to listen and/or read my post! ❤️
xo, Lea
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