What are the two financial levers?

Sources:

The two main financial levers, as highlighted by Brad Barrett and his podcast guests, are offense and defense.

  • Offense involves increasing your income through various means such as better job opportunities, side hustles, or creating assets like businesses [1].
  • Defense focuses on controlling and reducing your expenses, thereby creating a gap between income and spending which can then be invested [2].

Both levers are crucial in achieving financial independence, with strategies tailored to individual circumstances, such as higher income brackets or extreme frugality [1] [2].

Side Hustle Insights

Alan and Jonathan delve into the importance of side hustles in achieving financial independence, emphasizing the need to focus on increasing income alongside reducing expenses. They highlight how side hustles can serve as a powerful tool for individuals in various income brackets, offering a fresh perspective on accelerating the path to financial freedom.

ChooseFI

030 | The Side Hustle | The Unspoken Lever of FI
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