The best way to become financially free is to never get into debt in the first place. Live below your means – we’ve all heard this advice, but most people do not live by it, at least when they’re starting off. They get a credit card, run up debt, and now must trade time for money so that they can make the minimum monthly payments. Instead of setting aside money for our next adventure, we’re slaving away to pay off prior purchases that we no longer even remember. But living below your means does not mean you can’t have a nice life. On the contrary, if we have enough money to cover our bills each month, we can live stress free without the worry that we won’t be able to meet our obligations.
If step one is to live below our means, step two is to build enough passive income to cover our monthly expenses. So how can we do that? Get a side hustle, something that will give you recurring income.