💰 Making more moneyJan 10, 2024
For the longest time, society had a clear-cut path to “success”. Go to school, get a degree, buy a house, and start a family. That was of course, before all of those things became really really expensive and maybe even unnecessary? The world today is full of possibilities; you can now work while you travel, make money off your passions, or pursue unconventional paths and still become successful.
This week’s newsletter is full of ways you can pursue your dreams and still make money. Independence and freedom are just around the corner if you want them to be. Let’s crush those goals!
IN THE KNOW
The Pink Tax Is Costing You Money
As a woman, have you ever picked up a pen and thought, “I wish this pen fit my hand better. It would make the perfect accessory”? Neither have we. But for some reason, Bic launched their line of pink and purple pens in 2011 called ‘Bic for Her’, advertising it as a fashion statement rather than just a writing utensil. Enter the Pink Tax.
The Pink Tax is when companies charge consumers more money for pink products marketed to women even when the product is gender-neutral, like a pen for example. This trend makes everyday products more expensive 42% of the time and can be seen across the board with deodorant, dry cleaning, and even laxatives (?!).
Thankfully, California’s ‘Pink Tax Law’ is now in full effect, prohibiting gender-based pricing and saving people tons of money when grocery shopping. Our takeaway from all of this? Saving money comes from being a conscious consumer. Understanding marketing tactics, doing your research, and strategically choosing the right products will help you spend smarter and save better.
To learn more about building a money mindset, check out our Top 15 Hacks guidebook that’s free to download and easy to implement at milansingh.co/hacks
The Case Of The University Degree
Today’s ever-evolving world is increasingly debating the need for university degrees. The rise of new industries and changing job roles has allowed people to lead illustrious careers without having to spend 4 years in university, making for a very convincing anti-bachelor’s argument.
If you don’t have a university degree and don’t intend on studying for one, we have good news. In a survey conducted by Intelligent.com covering 800 U. S. employers, 45% of them said they plan on eliminating bachelor’s degree requirements for some roles in 2024. Additionally, 4 in 5 employers value experience over education when evaluating job candidates.
The November 2023 survey proves that a university degree is not essential to success. Start where you are and make your everyday actions align with your long-term goals. In the meantime, reply to this email and let us know - are you Team Degree or Team Work Experience?
Side Hustle Ideas For 2024
If finding additional income streams is part of your New Year’s resolution, look no further! Forbes recently released their list of five passive income ideas for 2024 and we’re here for it! Here are our favorite ideas to lock in and make money off of.
- Rentals For Tourism: Whether you’re purchasing a property and renting it out, or Airbnb-ing a room in your own home, renting your space out to travelers is an extremely lucrative side hustle. Especially now, when loads of people are catching up on missed travel over the last few years, giving you a golden opportunity to make some money!
- Take Advantage Of Technology: If you’re a master of AI prompts, develop your very own custom GPT. With OpenAI’s GPT Store, you don’t need any technical knowledge, just a database of information and a little bit of research. Pick a subject of your liking and create your very own GPT!
- Invest Your Money: Investing doesn’t have to be complicated. If you’re looking for passive income via investing, look into dividend stocks: publicly traded companies that regularly share profits with shareholders through dividends. If you want to learn more about investing check out my Beginner’s Guide To The Stock Market here.
MONEY MYTH OF THE DAY
"You Can't Get Rich Working for Someone Else"
Let's bust a money myth that might be holding you back: the idea that you can't build wealth working for someone else. Sure, being your own boss is fantastic for some, but the truth is that many people have amassed serious wealth by making smart moves in their careers.
Think of it this way: even if you're not the captain of the ship, you can still be a crucial part of the crew steering towards financial freedom. It's about making savvy choices, leveraging opportunities, and being disciplined with your money, no matter who signs your paycheck.
So, let's ditch the myth that nine-to-five means financial survival and embrace the reality that wealth-building is possible on any career path.
VIDEOS YOU MAY HAVE MISSED THIS WEEK
Here are the top videos you loved the most this week. Which one was your favorite?