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How to Be Financially Well Off – [Interview with LaTisha Styles]

LaTisha “Tish” Styles is a nationally recognized millennial money expert, author, speaker, and business coach helping clients take an existing skill and turn it into an online business. She is the founder of CreatingCoins.com and President of Financial Success Media, LLC. Her work has been featured in notable publications including Forbes, Fast Company, and Business Insider

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Resources Mentioned

3 Key Takeaways

  1. Be persistent with any task you do.
  2. The best side hustle is one that you enjoy and people are willing to pay for.
  3. Focus your efforts on earning more money because your earning potential is unlimited.

Podcast Interview Notes:

Question 1: How did you end up in the position you are today

My wife and I were looking for places to rent. I searched online, probably entered, “How to budget,” and kept coming across all these regular people talking about money.

It blew me away, and I was learning a lot. I was reading blogs for about six months, and then I was like, “Oh, man It’d be fun to talk about money and have my own community,”. Eventually, I created my blog BudgetsAreSexy.com on a weekend. I had no idea I could make money online, and no idea that it would change my life forever.

Question 2: How should one go about picking their side-hustle?

[4:01] First, find something you're really good at. This can sometimes be difficult because usually what you're good at is something you think everyone else is good at also.

The second thing is figuring out what you enjoy doing because you might be really good at cleaning things up and washing cars, but you might not enjoy doing that. You want to choose something that not only are you good at but that you actually enjoy doing. Because like I said, nobody wants to do something that they don't like over and over for the rest of their life.

Finally, you want to find that intersection with what people will pay you for. For example, you can be great at knitting scarves and enjoy the process, but it wouldn't make sense to have that as your side hustle if no one is willing to pay for your service.

Question 3: Is there any worthwhile investment that you’ve made that has helped prepare your business and yourself to the next level?

[06:40] I'm going to lump them together and say conferences. Going to conferences has been some of the best investments that I've made. Primarily because when you're an "online entrepreneur" and you have friends but they're all online, a lot of times it's difficult to make those connections.

I've been able to set up joint ventures and meet mastermind partners. After meeting somebody in person, you can see when you hit it off with someone in person versus just chatting online. I will say that going to conferences would be probably number one. Maybe choose one or two that you can do during the year.

The second best investment was investing in a coach who could show me what I need to do so that I don't have to waste time trying to figure everything out.

Question 4: What would you say has been your best financial advice that you’ve received?

[10:42] The best advice that I received was to focus on earning more money because you can only save so much until you got to figure out how to live. Your earning potential is unlimited. When you get a handle on the basics of finance, like not living outside of your means, the next thing to do is to focus on ways to earn more money.

Sometimes getting past level one means you need to start making some extra money so you can pay off debt and things that you've accumulated. I feel like the answer is always to earn more. Earn more, manage what you have, and you won't have to worry about financial problems again.

Question 5: Is there any book that you would gift to somebody else, and why?

[12:29] My favorite book is "The Richest Man in Babylon," by George S. Clason. That's my favorite book for finance and for life. This book talks about paying yourself first. It's great for personal finance, but if you dig a little bit deeper and if you read more into the meaning, the meaning of the book is that you're worth it.

I think there's definitely a deeper meaning in that book that goes beyond personal finance because when you do start paying yourself first, you value what you pay for and you start valuing yourself. It increases your self-esteem and it makes it that much easier for you to go after your goals and achieve them.

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About the Author Chris

Chris’s passion for writing is to inspire ambitious people to reach happiness using money as their tool. He enjoys talking about money, self-improvement, and learning from others. You can find more of his work here.

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