I’m 28 currently. I hold 4 “jobs” (short of a better phrase of describing activities that generate income for me). Here’s an outline of what they are:
During the day I work at Cornerstone, an e-commerce startup that aims to automate bathroom supplies for men (if you shave, I highly recommend you start using this service as it can save you serious £. Sign up here to get £10 off). I’m in charge of its entire business operations to ensure the it runs smoothly and is constantly improving so that British men don’t run out of their grooming supplies.
I side hustle extensively through my own company as a business consultant helping small businesses to grow and realise their ambitions, which often involves business plan creation and financial modelling. This helps me towards realising my WealthyBy40 Challenge.
I manage a portfolio of shares and properties which together generates passive income and also contribute towards my WealthyBy40 Challenge.
I am the owner of the WealthyBy40 blog, which serves as a creative outlet for my thoughts and experience about personal finance in order to help others to live a more financially independent and fulfilling life.
On top of that, I run competitively every year in the Tough Mudder competition, which is a 20-km obstacle course dubbed “the hardest course on the planet”.
You may wonder how I find the time to stay in top shape in addition to those 4 rather demanding “jobs”. Instead of giving you several reasons, I will just give you one, because that is my guiding principle which I follow relentlessly.
Synergy is the creation of a whole that is greater than the simple sum of its parts. In this case it means I try to blend in 2 activities that can be performed simultaneously and thus achieving 2 different outcomes in the same space of time. For example I wrote most of this blog during my morning 20-minute train journey into London, which means in the space of that 20 minutes, I achieved:
The arrival at my destination.
The creation of a blog article.
Similarly I pursue utility sports by infusing exercise into my commute. My London train station is 9 km away from my office, which means every day I have to make a 18-km round trip at least. Instead of taking public transport, I either cycle or run, meaning that I would have had a proper workout by the time I reach the office or home each time. It is quite usual for me to have cycled 80 km and run 15+ km before even hitting the weekend, without adding a single second to my commute or spending a minute (or paying a penny) in the gym.
So what have I learnt after several years of active commuting?
My active commuting habit has taught me 3 important lessons about wealth creation.
1. Health is the foundation of wealth
Sounds obvious but extremely true. My health has improved tremendously through active commuting. Before I used to take on average 4 sick days per year. Last year this number dropped to 1, which meant an additional 36 working hours being made available for me to pursue my economic interests. I currently charge $60 per hour in business consulting and the additional 36 hours represents an extra $2,160 theoretical revenue per year.
2. When it comes to frugal living, every little helps
Before I started active commuting, I used to exercise in the local gym whose membership fee was £60 per month. Ever since I made the switch, I had simply stopped needing to go to the gym (trust me, 80 km of cycling and 15 km of running in a week definitely makes your legs sore). This represents a saving of an additional £720 per year, all through a tiny change in my lifestyle choice.
3. Saving time is even more valuable
By ditching gym without ditching exercise through active commuting, I essentially “created” an extra free hour every day, 5 days per week. This represents an additional 240 hours per year (assuming 48 working weeks in a year), which represents a potential $14,400-worth of incremental consulting revenue.
It’s remarkable how a small change in my daily habit (cycling / running to work instead of taking the subway) could result in such substantial health and wealth creation. A £250 investment in a sturdy hybrid bike has the potential to create over $17,000-worth of financial benefit year after year, a truly remarkable accomplishment.
Are you sold on active commuting? Please comment away.