Hey Everyone, this is Josh! I’m introducing a new blogger, Colby, from Canada who runs That Charles Life, another personal finance blog like my own. He’s got a personal story to share here; check it out! The rest of this is all his own words:
I love the internet. The dimension of connections and opportunities are truly endless. Out of the many reasons I say I love the internet, one of the top reasons is it allows me to connect with like-minded individuals such as Josh, a fellow writer, who is also interested in financial freedom and living a sincerely good life. The next thing I find great about the internet is that it allows me to design a lifestyle of my choosing, one that allows me to live the type of life I have always envisioned for myself.
I’ve got many hobbies, and I always enjoy getting to meet people who share those interests with me. But there was always something extra special about people who have this financial freedom obsession. They get it. They get there’s more to life than just slaving away endless hours to finance debt on unimportant items. They don’t have mixed ideas about money. They know it’s not the root of evil, but it’s a tool to be wielded to create a great life for yourself.
If you’re reading this, then you are undoubtedly intrigued with financial freedom. You may be new to the concept, or you may be much farther along the path and close to your goals. If you browse around the community online long enough, then you’ll find there’s many ways to skin the proverbial cat. But the reasons for it all are generally synonymous:
Spend more time with family
Have more time and money to travel
Life a live on your own terms
Be able to pursue what truly matters
Those are but a few. Now, I am not truly financially free yet. I still have lots of work to do, and there are plenty of years before reaching the coveted goal. We all take different paths to financial freedom, and there’s ways to recreate a financially free lifestyle within the confines of work. I would like to share how I am currently living a life of my own creation while working towards a million dollar nest egg without actually having one at the moment.
And you can do it too.
My Lifestyle Hack
At the moment, teaching English online is currently how I am escaping the rat race while having extra time to work on my own projects, working less, saving money, and traveling.
A bit of a backstory first, I was recently teaching English in South Korea where I was living a rich life. I was able to travel, see the world, and save money better than I’ve ever been able to. But I had a problem; I was stuck in the rat race: taking orders from a boss, showing up and leaving on set times, and being unable to determine when or how I work. Sure, it’s in an exotic country, but there was a serious lack of freedom despite all the many benefits. And there were many.
While this may sound a bit off, I was lucky enough to break my ankle back in February while in South Korea. For over a month and a half, I was in a cast and crutches. I had a lot of time on my hands. I was introduced to teaching ESL online around that time as a way to earn a bit of money on the side. Well, since then, I began earning an extra $1,000-$1,500 per month all through this side hustle during evenings and weekends.
Before teaching online, I was saving about 50% of my salary. After adding online teaching as a side hustle, I began saving OVER 100% of my salary, and I was living much more extravagantly.
Perhaps Not the Best Route to Financial Freedom
Now this isn’t the most effective and scalable side hustle, sure. I still physically need to be there for lessons. I make about $22/hr. To some of the engineers and doctors of the Financial Freedom community, this is peanuts. But for many people, this would be a serious addition every month, and it could mean the difference of years for starting retirement.
Further, the flexibility of this online English teaching position is key. I choose all my hours. I work as little or as much as I want. There is no shortage of students from Asia or other non-English-speaking countries who want to learn. And the industry – like all others – is moving online. Even more, as long as you have a stable internet connection, laptop, and headset, then this gig is completely location independent. Granted you work in a different time zone – next week my work days start at 4 or 5 am, but in many low cost and beautiful countries – hint hint, Thailand, the time zones aren’t too inconvenient.
My contract in South Korea is now over, and since getting back to my home country in Canada, I primarily teach online for a few hours a day to supplement my financial needs. The rest of my time is then spent working on my own website and starting further side hustles before moving off again to travel more. I am working 50% less compared to the job I held before South Korea. Earning essentially the same money with way more time and freedom.
Again this might not be worth everyone’s time. But for some – like myself – this is a total game changer.
Some Final Good News
Now I mentioned that you could do this too, didn’t I? You sure can. The prerequisites are fairly lax. You only need be from a native English speaking country with some university experience.
There is an endless line of children hoping to learn the English language, so there’s always a need for new teachers. If you think this is something you’d be interested in, then you can reach me at www.thatcharleslife.com for more information.