To achieve Financial Independence, one's income must exceed his/her expenses. One way to supplement your day-job income is to build a side income. The usual approach is to build a passive income comprising of dividends, coupons and interests earned from financial instruments.
Another way is to build a side hustle. This provides an additional income but it typically requires your time to accomplish. Your intrinsic motivation to grow your side hustle and income will also be a determining factor in sustaining your venture(s). For example, if you are able to monetise your passion or hobbies, you might be able to sustain the venture a lot longer than if you were just mindlessly looking around at different ventures.
I will be examining these side hustles that I am interested in while penning my thoughts in this blog.
- Create, develop and maintain my blog with creative content. Monetise my blog and expand to affiliate marketing where possible.
- Create a home-based food business.
Share with me your thoughts and comments on building a side income!
SG FI Dad, out.