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I Like to Dabble | EP 286


What You’ll Get Out Of Today’s Show

  • Many industries we once believed were recession-proof have proven otherwise. What can we do to build multiple streams of income and the resilience needed so that we’re not reliant on anyone else for financial security? Side hustles and passive income are key strategies.
  • Daniella worked for an IT company for four years when they laid her the weekend before her wedding. Luckily, she quickly found a remote job working as a contractor but was laid off from it as well.
  • The layoffs ruined Daniella’s confidence and self-esteem. Before the first layoff, she was living paycheck to paycheck and carrying debt. Occasionally, she needed to sell things for gas money until the next paycheck arrived. It was a financial low.
  • Daniella still had the severance from her first job in an emergency fund and was encouraged to freelance to keep stable while looking for a new job.
  • Freelancing was something Daniella had some experience with and reached out to an old client.
  • The talent stack Daniella developed was not simply technical. She had a strong artistic and design background which was mostly self-taught.
  • She says when going for a job interview, be upfront about all of the experience you have. Think about it and write it all down so you don’t leave anything out.
  • Not all jobs require the employee to be a world-class expert. Sometimes having a wide variety of experience and being able to synthesize different pieces of information is what employers need.
  • The freelancing came out of panic. In addition to the debt, she had not been aggressively investing for retirement and believed the only way to go forward was a job.
  • After finally landing a new job with a FinTech company, Daniella began reading about personal finance for her blog about the journey she and her wife were on to get their finances together.
  • Dabbling is something Daniella has done since high school but it was never something she believed could be used to build wealth. Reading the stories of others changed her mind. The future became clear on what they had to do versus what they wanted to do.
  • While her original side hustles only fueled her spending behaviors, they eventually morphed into doing fun things. Her wife is an expert in reselling guitars, and in addition to freelancing, Daniella also did thrift store flips, repaired items for resale, and sold her own paintings of live concert events.
  • Daniella is in a much different financial position now. They have one year’s worth of an emergency fund saved up, and all of their debt is paid off. They still have their side hustles, and her blog makes a third of what she makes in her full-time job.
  • If she were to lose her job again, she would be able to reach out to the huge online network she’s built over the last three and a half years.
  • Facebook, Instagram, Reddit, and Twitter and great for networking. Daniella started by searching for different hashtags on Twitter.
  • Jonathan loves Facebook groups. When there is something he wants to learn, he leans into Facebook groups to benefit his talent stack.
  • Daniella believes Twitter is especially good for freelance gigs, while Instagram is good for anything since people expect others to slide into their DMs and comments on that platform.
  • Since she can work remotely from anywhere and they have multiple side hustles, Daniella and her wife are working on a move from Missouri to Washington State.

Resources Mentioned In Today’s Conversation

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At least once in most of our FI journeys, we have pondered what our life would look like if we started earlier. Maybe you have even wondered what value could’ve been gained if you had started in your teenage years. Well, for some context into the possibilities decision that could provide, we decided to have 17 year old listener Devin on the podcast to discuss what life can look like when you go against the cultural norm of going to college, and instead opting for an entrepreneurial and FI friendly lifestyle. Oftentimes we mention that there are rewards that come with stepping out of your comfort zone, and the same can be said for going against the societal norm and carving out your own path! For our younger audience who may be interested in getting started with their FI journey, let this episode be a useful resource and reassurance that this journey can begin no matter your age!

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