Financial freedom may be one of the most appealing things to almost every person on this planet. However, only some of us are brave enough to take the plunge into getting what we want. Imagine not having to rely on payroll to pay you each month and instead depending on yourself and your passions. If you’re thinking about being financially independent and unsure how to get there, worry not. In this article, we will look at some of the best books to guide you. When we speak about being financially independent, we’re talking specifically about side hustles. Side hustles are a brilliant way to support your existing income and maximize your finances whilst you can. In this list, we’re talking about some of the top five books to help get you on the path to financial freedom and how to take a side hustle into a full-time hustle.
1. Startup Opportunities: Know When to Quit Your Day Job by Brad Feld & Dr. Sean Wise
Startup Opportunities was written in 2015 to target new entrepreneurs. However, the book has attracted a wider audience after a stint in popularity. Nowadays, and especially after Covid, people are less interested in working 9-5 until retirement. Although there’s a myth about Gen Z being lazy, it’s actually quite the opposite. Now, people are more stimulated and attracted to the idea of investing in themselves, and working to live, instead of living to work. Startup Opportunities can be helpful for everyone looking to break into entrepreneurship, as well as those who want financial freedom. The book aims to show readers how to assess your business viability using something called the 10x rule. The 10x rule says you should set targets that are 10x higher than what you think you can achieve. The 10x rule is a guide for some of the most successful people, aiming higher than you ever thought you could. Startup Opportunities also advises avoiding the early and likely mistakes involved with starting a business or side hustle. More than five million people start a business or new venture each year. Many believe their idea is foolproof, but the truth is little startups achieve longevity, and only a few make it a permanent venture. This book is a practical guide to startups, learning about customer development, pitching, and assessing startups.
2. 100 Side Hustles by Chris Guillebeau
100 Side Hustles is a unique guide focusing on side hustles and obtaining eventual passive financial freedom. The book is written by prominent author Chris Guillebeau, with side hustle ideas coming from people who changed their lives for side hustles. With inspiring stories and unexpected great ideas, this book’s side hustles are reputable, regardless of your knowledge or experience. This is not to say that these side hustles are easy, and they will definitely take some solid investment, whether that be time or money, or both. However, with effort, the side hustles in this book prove to be extremely viable and realistic. Within this book, you’ll learn that almost anything can become a side hustle; from an urban tour guide to a hammock-seller, there are literally hundreds of viable options for you. This book is filled with inspiration for your next big idea to find a new source of income that fits your needs. The whole idea of a side hustle is to have a stable income to support your full-time income, with the intention for the side hustle to support you enough to become full-time. If you’re looking for a book to show you unique side hustle ideas and how to achieve them, this is the book for you. So, get reading and find your next hustle!
3. 101 Passive Income Ideas by Frank Coles
Frank Coles is a full-time writer and traveler who lives the life we all want. After spending ten years in the film and media industry, he got involved with writing and marketing. So, through his extensive research and exposure, 101 Passive Income Ideas Under $1000 was born. A lot of people assume that there is no investment cost when looking at side hustles and financial freedom. Although we all wish this could be the case, it’s unfortunately not. To start a successful side hustle and achieve financial freedom, you must invest. Whether this is time, money, dedication, or both, investment is always necessary. This book perfectly encapsulates the appealing idea of having an additional, passive income stream whilst being realistic. As Coles states, there is no magic trick to turn your time into money. However, there are brilliant ways to make money passively. This book is one of the most informative books about a passive income on the market. Coles shows readers the way to invest to achieve goals and the ways to make passive income. This involves an initial investment to turn your time into money and create ways to make your job work for you and your life. Some of the most popular and great passive income ideas in this book include:
- Affiliate marketing
- Blog writing
- P2P lending
Each hustle that Coles covers is explained in detail, with information about potential upfront costs and how to get there successfully. This book could hold the secrets to your financial independence with tips, tricks, and more information than you could ask for. Including information about operating and launch costs, performance levels, risk scores, and profit potentials, this book is perfect for those who are serious about a serious side hustle.
4. The Lifestyle Investor by Justin Donald
The Lifestyle Investor is written by investment master Justin Donald. Donald sticks to the idea that most of us want more money and more freedom in our lives. With more money and more freedom, we will naturally work less and have a higher quality of life. Working less is more sustainable for almost every aspect of our lives, but how do you work less without earning less? The Lifestyle Investor looks at complex financial strategies in a simple way to gain profitable results. Donald covers the ten commandments of cash flow for passive income and financial freedom. These commands are proven systems that will save you from the hamster wheel of life and put you in charge of your money and how you earn your money. The Lifestyle Investor teaches readers how to end trading time in exchange for money, ways to quit your job through passive side hustles, and how to maximize your wealth to achieve financial freedom. Creating an immediate cash flow is super important, and it can reduce investment risk. For this reason, Donald explores ways to minimize risk and maximize income.
5. Side Hustle Millionaire by Tony Whatley
Side Hustle Millionaire is a popular book with the sole intention of helping you create a side hustle that leads to financial freedom. This book is a classic, perfect for those who are fed up with their day jobs and entrepreneurs at heart. This book details the all-so-common feelings of hitting a professional glass ceiling and craving independence when it comes to your life and finances. The advice in this book takes the overwhelming aspects of running a business and instead offers some exceptional advice around side hustles. Side hustles do not have to turn into full-fledged businesses, but they can remain stable side hustles to support your finances. Whatley encourages readers to turn passions into a profit and monetize where the demand lies. Fuel your desire to be in control of your own destiny, and take control of your life and finances. This book has the proper guidance for readers to start a side hustle that may even exceed your salaried role. By looking at ways to maximize our income whilst still working out 9-5 roles, we can find solutions to create a financially independent future. Whatley covers some important concepts in this book, including:
- Mindset strength
- Business planning and ideas
- Marketing strategies
- Naming and branding your business
- Startup funding
- Accounting and tracing finances
- Website development
- Business corporate structures
- Company valuation and exit strategy
If you are serious about starting a business, whether this is a side hustle or a business to eventually run full-time, this book may be your new bible.
Below, we’ve also listed some exceptional additional mentions that we could not leave out. These books cover a variety of topics, but they all adhere to the idea of financial freedom and passive income.
- The Side Hustle Bible by Jacob Wallace
- The Side Hustle Path by Nick Loper
- Crushing It by Gary Vaynerchuk
- She Means Business by Carrie Green
- Don’t Keep Your Day Job by Cathy Heller
These books all have one thing in common; being financially independent and owning your own future. Imagine relying only on yourself and your talents and knowing you’re financially free and sustainable. Interested? Get reading!