E98- Power of the Side Hustle

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Pro Tip: Timestamps below are clickable. Click on the time below in the brackets and the audio will start playing at that part of the show.

[3:10] Importance of Multiple Income Streams
Most millionaires have a ton of income streams (average millionaire has 7 income streams)
It’s not actually the high paying jobs are not the people that are millionaires
Upkeep become much less once you have setup a side hustle
The 5pm to 9pm (12am) is really how you get ahead

[4:53] Start one hustle at a time
Set stuff up slowly, it’s critical to start off slowly and build it up.
Same concept of starting a diet- the one that works is the one you stick to.
Pick one income streams and then start building up others
FOCUS- follow one course until success

[6:48] Build your emergency fund or vacation fund
You’re not eating into your normal income or savings
You need to have emergency money
Always be able to pay your deductible
Dave Ramsey problem recommends about 6 months of living expenses saved up
An extra income stream can help you so much

[9:34] Do something you’re passionate about so it’s fun
Find stuff you enjoy that way you don’t see it as work
Katie’s friend made jewelry and sold it, she found it relaxing and it made money

[11:7] Different ideas for side hustles
Drive for Uber of Lyft
Airbnb is great and can make you a ton of money
Being a server
There are grocery shopping side hustles
Call and remind people to take their meds
New app called Bird- become a charger

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The Chain of Wealth podcast is a biweekly podcast boasting over 350,000 downloads. We interview inspirational guests about money topics. You can learn more about us here.

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