The Prosperity Gap Podcast

Are you ready to have your mind blown? We are talking all about side hustles on this episode with the talented Daniella Flores from Iliketodabble.com

Side Hustles are born out of a need for more money, a crappy job or just because you need something to do with your extra time. Daniella is no exception. She said, "side hustling came from spending too much and over compensating, because I kind of had a spending problem". Don’t we all? We all find ourselves going through cycles where we get our budget in order and then we spend and spend. We end up paying for it or it forces us to improvise and that is where side hustles come in.

Now if you create the wrong side hustle for you it will cost a lot of money to get started. You really need to look for little out of pocket money from the beginning. Start by putting time, effort and products you already have to get some money coming in. 

You can start out by using your phone and working with brands, maybe even a copywriter, or get paid to read books, or do some voiceovers if you have a great studio set up. Whatever you choose to do you can make money from your hobbies that can turn into passive income.

Some people never want to leave their full-time job and they do side hustles to make extra money to make sure they are working toward financial freedom which is Planning for the future with investing and retirement. Others just hate their job so badly that they just need to get away and do something else. You can find enough work with driving for Uber, doordash or even Rover (a dog watching app) that you can supplement your full-time income and make ends meet. It is all about the hustle, but don’t fall into side hustles that will burn you out if you are not thinking about the future. 

The best way we can do as we are focused on growing in this area, is to self educate ourselves. That means we take time to invest in our selves with education. Webinars, conferences, skills, all of these can add value to us and help us gain more sellable skills in the end. 

In order to be successful in any of this you need an accountability partner. Someone who can help push you and someone that can be there for you when things don't come as fast. Because reality will hit and you struggle. Daniella said, “I suffer with that, it is hard to fight burnout when you're working a lot.  My roadmap is, I've been doing this for two and a half years. I'm still working my full time job."

It takes time to pay off debt, it takes time to start a good business, it takes time to build up followers for your brand, and it takes time to generate the money from side hustles to make you happy. In the meantime here are 4 things to help you get out of debt and to make sure you are saving your money you are making on the side.

1- Educate yourself

2- Get your mind right

3- Once you understand it, make better decisions

4- Working together and make commitments

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How do you create a company that has generated over $6 million in revenue and over 2000 media segments with less than $500 in paid ads? We are not talking about an instant Amazon selling machine. We are talking about helping people save money on anything from their grocery bill, to travel, to cell phones, to you name it, with less than $500. I bet you are telling yourself that this has to be some sort of scam. Think again, this is all about building a formula that was born out of trial and error.

Josh Elledge, Founder of SavingsAngel.com and UpMyInfluence.com has made all the financial mistakes from foreclosure to bankruptcy and is now a leader in the financial and influencer space. How is this possible? I can see that you are a little more interested, so let's continue.

Robert Stevens, Founder of Geek Squad said, "Advertising is the price you pay for being unremarkable". Josh figured out how to make his mark as an influencer and package it. But this is just the beginning. Josh said, "We have to have meaning it what we do, money is important but when you wake up in the morning and all you're thinking about is that salary or your profits or your commissions, or who can I sell to?" We need to have purpose in what we are trying to accomplish.

I ask you, where is your purpose in life? Josh has this figured out and it is about changing your mindset, just like creating a new way of advertising instead of dropping money on paid ads. Josh said, "The faster you can get to a mindset where you're thinking what is the value I can bring? How can I make someone else's life better? How can I inspire somebody today to live better?"

Life is just easier when you focus on your purpose, your values, your mission, and why do you do what you do.

This leads us to where the podcast really explodes. I am talking hold onto your seat because things get crah-hazy.

You will get Josh's secret to cutting your grocery bill in half, you will find out how to save more than ever on even your cell phone bill. The information that is packed into this show will leave you craving for more savings and that is a good thing, because Josh has an entire podcast dedicated to helping you save more. Josh said,  "if you listen to 30+ shows you are going to be in a completely different position with your money, and that's kind of the goal is by the way."

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Steven Donovan from Even Steven Money paid off over $100,000 in debt and shares his story of how we crushed the debt after he found his why and is now a successful Money Coach. 

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Gabriela Benitez, a Senior Benefit Consultant at Diversified Insurance Group talks openly about what health insurance is right for your family. 

There are many plans and options for health insurance. How do we pick the best one? There are 3 things to look at:

1- Look at the deductibles
2- Maximum out-of-pocket
3- Your premiums 

Tell me about HSA

HSA is a Health Savings Account (High deductible health plan) certain plans if they have at least a $1500 deductible are considered an HSA plan. Everything is subject to that deductible before the insurance carrier will pay for any services other than preventive. (Preventive services in-network would be paid at 100% because of health care reform)

An HSA can be set up so you can put money in to an account to pay co-pays, deductibles, etc. on a medical side. The HSA is set up to give you a tax deduction (you will not pay tax on the money that goes in there). 

You will be able to offset some of those medical costs by using an HSA. You will not become rich off of the account. It is collecting interest, you get the tax benefits, and you can carry it over year after year. 
(If you have a high deductible plan this will help you save money and put some money back in your pocket that you would be giving Uncle Sam) 

Learn more...

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Thomas Walsh, Crypto Instructor joins The Prosperity Gap to discuss Crypto Currency. 

What is Crypto Currency? Is there still opportunities to make money in crypto currency? What do you invision for the next 10 years for Crypto?

In Crypto we have a nickname for Puerto Rico. We call it Crypto island. The windfall from Crypto will come and they are currently looking to move to a place where they will not be heavily taxed but still be in the US. The island is building a utopia for Crypto communities.

“Good people with good money do good things” there is a great future for those that invest in Crypto and a better life for people that they can help. 

You are going to hear a lot from friends and family and they are not professional investors or advisors and they are listening to the media. It is not too late, or used for illegal activity. Learn and get your feet wet by doing just a little. 

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