A financially independent millennial breaks down 4 ways to bring in cash, and shares the easiest type of hustle to start with
Financially independent millennial Cody Berman outlines a framework for side hustles, categorizing them into four types ranging from trading time for money to building scalable income streams. He emphasizes that while trading time is the easiest way to start, scalable assets offer better long-term potential.
Why it matters
Understanding diverse income streams is increasingly relevant in the modern gig economy as individuals seek financial independence and diversified revenue sources.
Berman avoided a car payment for years by driving an old, paid-off truck. Courtesy of Cody Berman Cody Berman categorizes side hustles into four types, from quick cash to scalable income. He says trading time for money is often the easiest way to start earning fast. Today, he focuses on assets that can keep earning after the upfront work is done. After trying more than 30 side hustles — some hits, some flops — Cody Berman has developed what he calls a "side hustle framework." There are essentially four ways to bring in extra income, the financially independent millennial and author of " Retire by 30 " told Business Insider. Here are his four types of side hustles, plus the one he says is the easiest to start. Type 1: Trading time for money The first type is the most straightforward: trading time for money.
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