💰 New side-hustle alert

It’s already mid-January but we’re still on that New Year kick because of all the great news in the market these days. In this issue, we’re telling you about brand new side hustles that can make you extra $$, how you can stick to your New Year’s resolutions, and how you can get out of credit card debt, all while supercharging your money one step at a time 

We’re eager to hear your thoughts on all of this and more so do be sure to hit reply on this email and let us know!

- Milan

IN THE KNOW

New Side Hustle Alert 

Back in November, OpenAI, parent company of the ever-loved ChatGPT, launched GPT Builder, a platform that allows you to create and customize your very own GPT without any prior programming experience. Following a slight delay, the company launched its GPT Store this month, enabling users to share their custom GPTs with eager customers everywhere.

GPT Store is currently home to over 3 million custom chatbots (and growing!), including GPTs that offer personalized hiking trail recommendations, graphic design advice, and even course-building chatbots. OpenAI is also working on a new plan called ChatGPT Team that will allow small businesses with less than 150 employees to collaborate on custom GPTs in their shared workspace.

While the GPT Store doesn’t generate direct income for users (yet), OpenAI plans to share subscription revenue with popular GPT developers in the coming months. Now’s a great time to rewatch those AI-prompting videos you saved last year because the Store is bound to open brand new doors for money-making. For more side hustle ideas, check out our Top 15 Hacks Guidebook at milansingh.co/hacks

Credit Card Debt Bringing You Down? 

Have you noticed that despite the rising costs of living, people don’t seem to be cutting back on any expenses? Our Instagram feeds are filled with stories of travel, parties, and fancy meals. The answer, and the problem, is increased credit card usage.

More and more Americans are carrying credit card debt from month to month, unable to pay their balances off in full. So much so that 56 million Americans have been in credit card debt for over a year now. If this is you, here are some tips on overcoming the issue:

1. Opt for a card that offers up to 21 months of no interest on transferred balances like the Wells Fargo Reflect® Card or Citi Simplicity® Card
2. Use the Avalanche or Snowball Method to pay off existing debt
3. Increase your credit score to get better offers
4. Try your best to pay off your credit card bill in full every month

Try these tips and let us know how you fair!

Hanging On To Dry January 

A heavy holiday season usually calls for a tamer start to the new year and Dry January seems to be on everyone’s resolutions list this year. If you too are taking a break from booze, here’s your motivation to keep January alcohol-free.

America is seeing an overall decline in the population of alcohol drinkers because of affordability and health concerns causing the non-alcoholic (NA) beverages market to boom. More and more people are demanding tasty, inventive, and Instagrammable drinks minus the hangover while more and more companies are supplying them to the market.

NA drinks aren’t just mocktails heavy on the juice anymore - they use high-quality ingredients, innovative techniques, and some even feature ingredients like reishi mushroom extract that mimics the relaxed feeling of wine without any of the bad side effects. So the next time you’re at a bar or supermarket, ask them for their NA beverages range - it’ll help your health, productivity, and most importantly, money management. In the meantime, how are your New Year’s resolutions going? Let us know by replying to this email!

MONEY MYTH OF THE DAY

“Cash is Always King”

Many people still believe that holding onto large amounts of cash is the safest financial strategy. And while “cash stuffing” is preached by many and works for some, stowing away physical notes in envelopes means you could be missing out on the easiest way to make money. 

While having cash on hand is undoubtedly important for emergencies and short-term needs, in the world of investments, cash doesn't generate returns on its own. What’s more, inflation can silently erode the purchasing power of your cash over time, meaning that while your pile of cash stays the same, its real value diminishes. 

So what does one do with their cash instead of hoarding it in a piggy bank? The easiest way to make money on your money is by putting it in a High Yield Savings Account which has a higher APY than a normal savings account and can help you generate passive income without any of the work. Check out my recommended HYSA at milansingh.co/sofi and watch the videos below for more money-making methods!

VIDEOS YOU MAY HAVE MISSED THIS WEEK

Here are the top videos you loved the most this week. Which one was your favorite?

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