Hustler on FIRE - side hustles that bring you closer to financial independence
By: Hustler On Fire
Tags: Entrepreneurship, Fire, Side Hustle, Business, Gig Economy

Firestarter

TDLR: I was a hustler before I heard of FIRE so I guess I am just a firestarter. I love to create new things. It is electrifying to embark on unknown journeys, test out theories and give birth to new concepts, products or services.

Financial Independence, Retire Early (FIRE)

The blueprint for this previously was to work a job / widen your social circle, get acquainted with and marry a rich, usually older (wo)man, enjoy the finer things and never work a day in your life (unless you wish to of course). Well, that was how I understood it anyway but I might have misunderstood since the prime of my life is over and I have yet to put my feet up.

What I later found out, albeit a little too late, was that the FIRE movement entailed saving a lot, investing like a guru, let the numbers magically grow and compound and viola, you somehow retire far earlier than your peers and you spend the rest of your life gloating (*cue Nelson Muntz).

Nelson Muntz in The Simpsons

Actually, do not take my word for it. You might be better off reading the 1992 best-selling book Your Money or Your Life by Vicki Robin and Joe Dominguez. How long did you have to work for that fancy bowl of acai? When every expense is compared to the time spent at work in order to earn the purchase, you really do get depressed, I mean, prudent, with your spending. The concept of FIRE is that your squirrel away your money now and let that bowl of acai turn into a Michelin star meal in 30 years time.

Your Money or Your Life by Vicki Robin and Joe Dominguez

I used to know this as delayed gratification but again, as with all things in life, I might have applied it wrongly. Instead of getting a Coach purse now, I exercise restrain and squirrel away my money and in a few months’ time, I get a Chanel purse instead. That was what delayed gratification was to me because I could not work with a time horizon of 30 years. I might be dead by then.

Well, half of that 30-year time horizon has passed and death has not caught up with me. That was when I decided I need to plan for my future just in case I am still alive and kicking after the rest of that 30-year time horizon has come to pass.

So here I am, penning down what I have learned about FIRE and giving you my (probably absurd) take on it. The issue is that I am more of a shopper, less of a squirrel. I love pretty things and good food. I buy, therefore I am. I purchase all sorts of material goods to make up for what I think I am lacking inside.

Saving for a rainy day

Then the next generation comes along decrying FIRE, and also, buy experiences, not things. So I told them I like my money right where I can see it… hanging in my closet. Actually, Carrie Bradshaw said that but they have no clue who she is. So anyway, apparently, a fool and his money are soon parted. Oh well, poor guy.

Side hustles

Not all is lost for me. While reducing expenses can help maximise my savings, so can increasing other sources of income, such as working on a side hustle and this is something that I have been doing all along anyway. Providing private classes when I was in college, doing part-time writing and starting new businesses. I have been generating more income all along just that I have been channelling the funds towards a sizable handbag collection instead of a retirement nest.

The Air Era, the Gig Economy and FIRE

With renewed vigour, I reviewed all the side hustles I had going on, thought about introducing a new side hustle every month (hey, aim for the stars right), and decided to document my side hustles, struggles on starting businesses (what is entrepreneurship anyway?) and juggling it all. This is the story of a reformed shopaholic on her way to FIRE.

Make money like a millionaire