Achieving financial freedom does not have to be hard. It can even be fun when you are willing to experiment with different side hustles. I’ve taught yoga, rented out my car, Air BnB my condo, invest in index funds, and so forth. Of all the different ways to make extra money while working full-time, here are my top three favorite ways.
1. Start a blog
If I had to pick just one favorite method, it would be running my own blog business, NotABondGirl.com. It has been so fulfilling to help others get their finances in shape and achieve financial freedom like a boss.
I got started blogging for fun to share my personal finance tips. To finance this hobby, I enrolled in the Making Sense of Cents Affiliate Marketing Course to learn how to make passive income on the website.
Within weeks of applying the strategies in the course, I was earning passive income!
I learned the exact marketing strategies blogger Michelle of Making Sense of Cents used to go from $0 to over $100,000 per month on her blog. To learn more about these passive income tips, check out the course here!
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2. Answer Surveys
Don’t have time? Answer online surveys at your own pace.
Whether you have just one free hour each day or if you are willing to work 10-20 hours on weekends, earning extra money can help in building your emergency fund to paying off debt. Most importantly, it can help you achieve financial freedom sooner.
The more you sign up with different companies, the more surveys you receive. Thus, the more opportunities to make money.
Here are a list of trusted survey companies that are free to join, free to use:
If financial independence early retirement (FIRE) is your goal, then it takes more than just cutting coupons. It takes more than just a six-figure or more salary too! The journey to financial freedom requires you to have your hard earn money working for you!
Through trial and error, I’m living proof that financial freedom is within reach regardless of past financial mistakes. After coming across countless interviews of JL Collins, author of “The Simple Path to Wealth”, I was able to really understand investing in the stock market.
Passive income from dividends and capital gains...
I began to reallocate funds from my savings account to a more diversified asset portfolio. When it comes to the stock market, I have a pretty high risk tolerance.
But being an emotionally sensitive empath, sometimes the market volatility can still get the best of me! So here’s how I minimize risks:
Diversify across different asset classes
Diversify within asset classes
Diversify across markets, countries and currencies
Last but not least, I made sure I diversified across time. I’m talking at least a ten year long term investment strategy. No jumping in and out of the market.
Even the top financial gurus are not able to predict the right time to buy stocks. But if I kept adding to my investments systematically over months and years, I reduced my risk and increased my returns over time.
Specifically, I followed author of “The Simple Path to Wealth” Jim L. Collins investment strategy.
I opened a Vanguard brokerage account and invested in Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX). It is a low cost index fund that hits all the diversification points mentioned above.
Roth IRA? HSA? 401K account? Yes, yes and yes.
Yes, almost 100% of my investment portfolio is invested in VTSAX. And I sleep very well each night. After all, I’m “not a bond girl”!
Interested in taking a deeper look into this strategy?
Start reading the “The Simple Path to Wealth” here!
Financial independence retire early (FIRE) like a boss!
Get FIRE’d up about financial freedom!
There are a endless ways to create side hustle income and reach FIRE. Investing in stocks, owning rental property, creating your own online biz, and so forth.
But it doesn’t mean you need to do it all. Just pick 1 or 2 that gets you excited.
Everyone's financial situation and personal interests is unique. It’s important to try out different side hustles to see what works best for you.
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