Side-hustle secrets for financial freedom – The Prosperity Prospect

Tracy Hemingway, also known as the Debt Free Diva.

Amid the soaring cost of everything from butter and cheese to rates and insurance, tips on how to trim your budget abound – but once it’s cut to the quick, the only alternative is to earn more.

While the need for side hustles can be controversial, Tracy Hemingway – who used them to escape $94,000 of debt and buy her first home in just four years – told Nadine Higgins on The Prosperity Project podcast they can serve a purpose short-term.

“I’ve done everything: Uber Eats driving, Lime scooter juicing, pamphlet delivery, mystery shopping, babysitting ... anything I could pick up, I was just picking up.”

At one point, Hemingway – also known as the Debt Free Diva – was working seven different jobs a week. “A hundred per cent not sustainable, I will put my hand up and say that, but you can do it for a short burst if that’s what’s going to help get you to where you need to be.”

She says a side hustle doesn’t have to be complicated. “You don’t have to go and, like, open a whole new business ... go to your Mitre 10 or supermarket and pick up four hours a week – that counts as well.”

She encourages people to think practically. “What skills do I already have that I can monetise really quickly?” she says. “How can I make money this weekend?”

Now a financial adviser and mortgage broker, Hemingway is passing her experience on to clients to help them get on the property ladder. “When I have a first-home buyer sitting in front of me and they go, ‘I can’t save’, I’m like, ‘okay, where are you spending your time, and what are you doing outside of your 9-to-5 to change your circumstances?’”

Listen to the full episode of The Prosperity Project for more. The podcast is hosted by Nadine Higgins, an experienced broadcaster and a financial adviser at Enable Me.

You can follow the podcast at iHeartRadio, Apple Podcasts, Spotify or wherever you get your podcasts. New episodes are released every Monday.