Editor’s Note: This episode initially aired on Jan. 19, 2023. It may contain some details that are out of date.
Side hustles are increasingly a part of life, even if you’re just trying to survive.
In 2023, 45% of Americans said they had a side hustle, with an average monthly income of $483. While that might not seem like much, it’s possible to use your side hustle as the basis for building financial freedom.
In this podcast, we’re going to meet someone who did just that.
Today’s guest is Tom Brickman, aka The Frugal Gay. He sold lipstick, bras and other stuff on eBay, used the money to buy rental properties, and retired from his traditional job at age 39. He’s going to tell us how he did it — and how you can use a side hustle to boost your own future financial prospects.
Remember, even though we sometimes talk about money and specific investments on this show, don’t take them as recommendations. Before investing in anything or making any other money moves, do your own research and make your own decisions.
You can watch this episode below, or if you’d prefer to listen, you can do that with the player at the top of this article or download the episode wherever you get your podcasts:
Also, don’t forget to check out our podcast sponsor, Tellus for the opportunity to super-charge your savings with an account backed by real estate. Use the code MONEYTALK and get a special interest rate for seven days with a $125 minimum deposit.
Side hustles can help you reach your goals
Whether you hope to pay down debt or amass enough to reach financial independence, a side hustle can be a good way to earn more money over time.
Tom talks about how he started his side hustle by selling lipsticks, purses and bras on eBay. Listen to the episode to find out how he used the profits from his side hustle to buy his first rental property and use real estate to pursue financial independence.
In the meantime, here are some Money Talks News articles that offer insight into side hustles:
- 9 Side Hustles Where You Could Earn More Than Full-Time Work
- 9 Senior-Centered Side Hustles to Round Out Your Retirement
- 25 Side Jobs That Can Be Done From Home
- 6 Classic Hobbies That Make Money as Trendy Side Gigs
- Money Tight? 4 Legit Ways to Bring in Extra Cash
- How to Earn Extra Money With Online Focus Groups
- How to Reach for Financial Freedom with House Hacking
- 9 Ways To Earn Passive Income off Your Home
Money tips that can help you reach your goals
While a side hustle can be a good way to boost your income and work toward financial freedom, you don’t have to use a side hustle. There are plenty of other ways to be smart with your money and grow your wealth.
Check out these additional resources that can help you explore other ways to make more money, save more money and retire rich.
- 7 Tips to Retire With a Million-Dollar Nest Egg
- 14 of the Best Money Moves You Can Make in 2023
- 15 Money Moves for a Richer New Year
- 6 Things You’re Wasting Your Money On– and How to Stop
- Your Guide to Alternative Investments
- Cut These 11 Expenses Now If You Hope to Retire Early
- 3 Ways Recessions Can Make You Rich
- 11 Figures You Need to Know for a Secure Retirement
- 7 Actions to Take Now to Get the Life You Want
- 12 Surprising Benefits of Thrift Shopping
- 9 Tips for Sane and Successful Stock Investing
- The Lazy Person’s Guide to Flawless Investing
- The 6 Best Investing Apps for Beginners
- 6 Top Robo-Advisers for Investing
Meet this week’s guest, Tom Brickman
Tom Brickman, also known as The Frugal Gay, is a 40-year-old married dog dad from Dallas. He recently retired from 9-to-5 work to focus on real estate full-time and run TheFrugalGay.com. Tom provides one-on-one coaching and covers financial literacy and real estate for building wealth.
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About the hosts
Stacy Johnson founded Money Talks News in 1991. He’s a CPA, and he has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.
Miranda Marquit, MBA, is a financial expert, writer and speaker. She’s been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.