It’s 2019 and by now you probably have social media of some kind, and if you’re like over half the millenial population than you’ve probably heard the term “multiple streams of income” or “passive income streams”. We’ve all read the books Rich Dad; Poor Dad (if you haven’t, go buy it now!) about how decisions made by two father figures in his life shaped how he looked and managed money. Well it’s time you do the same!
Scary Debt Breakdown:
Average person has about $38,000 in debt (not including mortgages)
25% is from credit cards
15% spent on dining and nightlife
13% spent on clothing and personal care
13% spent on personal passions and hobbies
Even Scarier Reality:
The average person earns $39,000 per year, meaning they make $1000 more than their debt owed. The cost of living is steadily rising, yet salaries aren’t (unless you go into more debt to raise your education level)
See the vicious cycle?
How long will it take you to get out of debt with just ONE job or income stream?
The key to becoming Debt-Free is to start or pickup a side hustle! Here are 5 that you may not have thought of!
1) AirBnB - rent out a room in your home or stay at a friends house and rent out your entire home (avg $80-$560 per week)
2) Drive for Uber, LYFT, Grubhub on weekends ($25-$1000) per week
3) Become a Virtual Assistant (4 hours per day: $60-$300 per week)
4) Bartend on weekends ($100-$1000 per night)
5) Dog Walker ($35- $875 per week)
Debt is a reality that many of us face, but debt free is the reality that all of us desire, find a way to make money doing what you love while bettering your financial future!
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