4. Start a Side Hustle
Ready for a hard truth? No matter how much you penny pinch, you’ll be modestly rich — at best. And that’s after going through a lifetime of deprivation. We’re talking no holidays, no shopping, no hobbies, not even Christmas presents (ok, maybe the $10 office Secret Santa. Maybe.)
If you really want to get rich, you need to widen the gap between what you spend and what you earn. And the most effective way to do this is to start a side hustle. Yes, that means sacrificing your weekends and evenings, and even public holidays.
The good news is things are only difficult at the beginning. That’s when you have no clients, no portfolio and no idea what’s a fair price to charge. However, as you grow and establish your client network, you will start to settle into your niche.
Don’t go overboard, though; the idea isn’t to throw every spare waking moment into your start-up. Ideally, aim for your side gig to boost your income by 30% to 50%. Most importantly, save or invest what you earn.