The Truth About Education, Side Hustles, and Financial Freedom: What Young People Need to Know
The Biggest Lie Young People Are Told
The Promise of a High-Pay Job
The biggest lie young people are told when they’re 18, 19, and 20 is to go to university and you’re guaranteed to get a high-pay job. This lie is drilled into through the school system and then reinforced by parents who are stuck in the past.
The Changing Reality of Education and Employment
While it might have been true in my time, it’s not the reality anymore. Don’t get me wrong, I’m not saying that studying is a waste of time. Many degrees are very useful and the student experience is unforgettable.
However, relying solely on a degree to make you rich isn’t the right approach.
The Value of University Education
Useful Degrees and Unforgettable Experiences
Yes, university can provide valuable knowledge and unforgettable experiences. 🎓 Many degrees still hold a lot of value and can open doors to certain career paths that might be inaccessible otherwise.
The Limitations of Relying Solely on a Degree
But here’s the catch: relying solely on a degree to secure a high-paying job is no longer a safe bet. The job market has evolved, and so should our approach to financial independence.
The Importance of Side Hustles
Diversifying Income Sources
That’s why it’s so important for students to start some kind of side hustle that has the ability to grow into something much bigger in the future. Diversifying income sources is key to financial security and independence. 💼
Personal Experience with Side Hustles
Look, I wasn’t wealthy enough to afford university, or probably academically smart enough, but I always had side hustles. Ultimately, my side hustles turned into multi-million dollar businesses and made me a millionaire. 🤑
Side Hustle Idea 1: Faceless Short Form Content
Introduction to Daniel and His Success
This is Daniel Bitten. Like many of you, he started using social media for fun at the age of 13. Now, at 16, he’s earning half a million dollars every single month creating short form content on Snapchat without even showing his face. It sounds unbelievable, but it’s completely true.
The War for Attention on Social Media Platforms
Why can you make so much money doing this?
Well, at the moment, there’s a huge war going on between Snapchat, YouTube, Instagram, and TikTok. 📱 During the pandemic, TikTok became so popular and grabbed the attention of the world. Since then, all the different social media platforms have been competing for this attention because more eyes on their app means more money from advertisers.
How to Create Successful Short Form Content
The one thing these platforms need more than anything else is content creators. What attracts the best creators better than anything else?
Money. 💵 This is a once-in-a-lifetime opportunity. The people that get paid the most are those that create original content rather than just cutting up other people’s content from YouTube. Daniel does this by using existing videos but then adding different voice overs, music, and edits.
Ratings for Faceless Short Form Content
Firstly, how much time does it take to learn?
I’ll give this a four out of five. Although making short clips may seem quick and easy, there’s a lot more that goes into it than you might first think. If you regularly watch TikTok or shorts, then you’ll be better prepared than most. Creating short form clips is a lot more about understanding human psychology than it is about fancy editing. 📽️
Secondly, how much money do you need?
I’ll give this a one out of five because if you have a phone and an internet connection, you can get started. 📱
Thirdly, how easy is it to make $1,000 per month?
I’ll give this a one out of five. As I mentioned, social media platforms are handing out cash like there’s no tomorrow. To make $1,000 a month, all you’d have to do is be 0.2% as good as Daniel. Now, if you don’t think that’s achievable, then you need to believe in yourself a bit more. 🌟
Side Hustle Idea 2: Investing
The Case for Investing as a Side Hustle
A lot of people are going to disagree with me on this one as it’s technically not a side hustle. However, it makes me around $177,000 per week, so I thought it was definitely worth a mention. 💰
Dollar Cost Averaging and Index Funds
It’s taken me a lot of years to build up to that. I’ve managed to do it all on my own without a financial advisor charging me commission on every investment. It’s really not as complicated as people make out. Of course, I’m not a financial advisor and investments can go up as well as down, but my dollar cost averaging strategy has worked wonders for me over the years. 📈
Combining Investing with Other Side Hustles
This is exactly how you should be thinking. I didn’t want to wait until I was old and gray either. I went out and made quick money through my side hustles, started a business, and made millions, all while investing around half of my earnings and multiplying it in the stock market. It’s not a choice between one or the other. You really should consider doing both at the same time.
Ratings for Investing
Firstly, how much time does investing take to learn?
I’ll give this a one out of five because the basics are extremely simple. I’ve got multiple videos on my channel breaking down the core concepts like passive income, the different types of accounts to open, and my favorite index funds. 📚
Secondly, how much money do you need?
I’ll give this a one out of five because you can start with as little as $1. 💵
Thirdly, how easy is it to make $1,000 per month?
I’ll give this a one out of five. For me, I don’t have to do anything; it’s just easy. However, it took me a lot of years of consistency to get to this stage. Investing should always be paired with a side hustle that generates you fast money. 💸
Side Hustle Idea 3: Discord Building
Chris Peters’ Journey to Success
This is Chris Peters, and he’s on track to make $115,000 a month from building and managing Discord servers. And he’s only 19 years old!
I remember first chatting with Chris a couple of years ago. He must have been about 17 at the time. He messaged me and offered to help me for free, so I took him up on that offer, and he completely revamped my server. 🖥️
Understanding Discord and Its Uses
Discord is basically this all-in-one communication hub with text, voice, and video chats. It started off just for gamers, but now it’s pretty versatile, used by all sorts of communities and businesses. There’s a huge opportunity here because as the usage of Discord increases, there are people like me a few years ago who have no idea how to operate it. It’s complex enough to confuse a beginner, particularly those of an older generation, but simple enough for a youngster to learn in a short amount of time. 🚀
Providing Value and Building Client Relationships
Just remember to offer huge value up front before asking for any kind of payment. If you do good work and make yourself indispensable, you’ll start earning big. 💼
Ratings for Discord Building
Firstly, how much time does Discord take to learn?
I’d give this a two and a half out of five. You can get to grips with the basics in a couple of hours; however, to do the really complicated stuff, it may take a bit longer depending on how tech savvy you are. 🖥️
Secondly, how much money do you need?
I’d rate this a one out of five. You can get started with just your computer. 💻
Thirdly, how easy is it to make $1,000 per month?
I’d rate this a one out of five. Assuming you can find four clients and put them on a monthly retainer, you’d only have to charge them $250 each, and boom, that’s $1,000 a month right there. 💸
