How I saved $50k to quit my 9-5 WITHOUT a high salary 💸 | side hustles, saving hacks, payday routine

About this Video

• Video Title: How I saved $50k to quit my 9-5 WITHOUT a high salary 💸 | side hustles, saving hacks, payday routine
• Channel: Tika Ghafar
• Speakers: Tika Ghafar
• Duration: 00:21:50

Introduction

This video details Tika Ghafar's journey of saving $50,000 to quit her job and start a business. Despite not having a high salary, she outlines her financial plan, including money-saving hacks, a payday routine, and various side hustles. The video aims to inspire viewers to pursue their own financial goals and achieve financial freedom.

Key Takeaways

• Tracking Expenses: Tracking expenses helps identify areas of overspending ("financial pitfalls") like subscriptions, food delivery, and impulse buys.
• Saving Hacks: Decluttering expenses (reducing subscriptions), switching to cheaper plans (phone plan), and setting goals before purchases. The speaker also emphasizes the importance of informing friends about saving goals to manage social spending.
• Payday Routine: Automating savings and investments, paying oneself first, and practicing impulse control. Leveraging employer-sponsored retirement funds (EPF in Malaysia) for additional savings.
• Side Hustles: The video showcases several side hustles: ghostwriting, cat-sitting (through Petbacker), modeling (voice and body for advertisements), and YouTube AdSense. The importance of choosing enjoyable side hustles aligned with personal skills and interests is stressed.
• Starting a Side Hustle: Focus on a monetizable skill or learn a new one. Utilize social media (Instagram) and freelance platforms (Fiverr, Upwork) for advertising.