Financially Well Off

Why You Need To Experiment To Discover The Perfect Side Hustle

Ilana Griffo is a designer and illustrator who experimented with several jobs until she landed with one she was passionate about. She enjoys creating design work that's so good you'll want to eat it. She's the author of her recent book "Mind Your Business: A Workbook to Grow Your Creative Passion Into a Full-time Gig."

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Key Takeaways

  1. Don't be afraid to try new jobs--you'll quickly know if you like them or not.
  2. Start with the bare minimum for your expenses and add on expenses you truly value.

Podcast Interview Notes:

1. What advice would you give to Millennials looking to build a side-hustle to replace their job’s income?

There’re so many people now who have side hustles and many say, “I don’t have the time.” The truth is if you can find something you’re passionate enough about, you will make the time. Whether that’s waking up at 5:00 am or staying up late–you will make time if you’re passionate about the work.

For some people finding free time will be challenging. Some have to work three jobs to pay their bills, but, even 30 minutes during your lunch break can be magical hours.

Also, make a game plan. When I’d left my full-time job, I had a game plan. I had about a year’s worth of salary saved in the bank and I was like, “If this doesn’t work in this amount of time I can pay my bills.” It took me a year to create this gameplan. 

2. What’s worthwhile investment you’ve made in your life? (i.e. investing in coaching, investing for retirement, working at a company for free, etc.)

One great investment was my college education. I’d found my passion for art and design through my college education. College is expensive but you can invest in other ways to get a great education. 

Whether that’s an online class that’s $100 or a workshop you can take for a weekend. I still invest in education. I don’t think you need to invest thousands of dollars at the beginning.

But, try something out, take a class and see what happens.

Another investment I did was purchase a $100 coaching session with someone that was doing what I’d wanted to do. I asked her everything about her career and for personal advice. This also turned into a lifelong friendship.

Before $100 felt expensive for one-hour coaching call, today I wouldn’t think twice about making this investment.

3. What’s the best advice you’ve received about money? (i.e. always save 10% of your income)

What helped me was growing up with great role models who lived comfortably.

They’d set a good example for me and taught me the value of money and what it meant to them. This helped me better understand how to find my own comfort and to not compare myself to others.

4. Are there any book(s) you’d give as a gift to others and why?

I’d recommend Essentialism since it’s about what’s what’s essential for you and how to focus on that. This book changed how I thought about the work I was taking on and where I was putting my energy.

Money Round

How would you spend $1000?

A trip to Hawaii or New Zealand. 

What advice would you give to someone who's currently struggling with their finances and feeling hopeless?

I’d recommend workings backward or take classes. Talk to people, write things down. Really analyze what you’re spending and where you’re spending it.

It can be stressful but working backward would allow you to maximize your cash flow.

What does money mean to you?

Money means freedom.

When you have money you’re in control of your time–spending it on satisfying activities. I want to do work that I love and I want to get paid what I deserve.

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About the Author Chris

Chris writes personal finance and productivity articles for software companies. He gets fresh ideas through continuously investing in himself and interviewing successful entrepreneurs.

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