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Required Reading:
How F.U. Money By Dan Lok Will Change Your Entire Perspective About Side Hustling
Today, I’m so excited to introduce you all to the first post in my series, Required Reading For Entrepreneurs. Changing your mindset about money is critical for any online entrepreneur, and it doesn’t have to be difficult. Each book recommended in this series is a book I have read and loved. So, I want to pass my insights long to you. These books are changing my life, let them help you change yours.
To start, who remembers what I wrote in my very first post?
Anyone?
Okay, here’s a refresher:
It’s true that money can’t buy you happiness. But what most people won’t tell you—especially people who say that—is that money CAN help you achieve the freedom you want to pursue things that will make you happy.
Yeah, the title jumps out at you, just a little bit. And yeah, F.U. Means what you think it means. I’m not afraid of a few swear words (my favorite four-letter word starts with ‘f’). That’s definitely part of why I decided to take a closer look. And what I found REALLY spoke to me, and to my goals as a side hustler and online entrepreneur. Lok’s book starts off with an introduction that’s also a warning. Some readers may not like this book, for reasons of profanity (less so) and blunt truth telling (much more so). I fear neither, and kept reading.
I devoured the book in a few days, and on August 23, 2018, I’m working through my second read-through.
Why?
Because of sentences like this:
“Don’t you just hate it when people tell you that money can’t buy happiness?” – Dan Lok, F.U. Money, page 49
Sounds just like what I wrote in my Introductory post, am I right?
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Required Reading: What F.U. Money Is All About
This book is all about teaching its readers about F.U. Money, or, how to use online businesses to generate passive income. That passive income becomes your F.U. Money, because it’s the money that you make so you can say “F.U.” to your day job and working for someone else. F.U. Money can mean a lot of things to a lot of people – for me it’s freedom. Freedom to do what I want, when I want, and not be beholden to the hours I have to put in at my day job. It means I can get out there and teach others how to escape the grind we’re all taught is our only path in life.
I’m not the only person who’s not made for a job behind a desk. I just need something to open my mind and show me what that new direction could be.
Now, Lok has made a lot of money through his businesses, but he also is very detailed about what he did to lead to his failures. He also talks about how he uses the principles of the F.U. Money mindset do dig himself out. That’s how he ultimately found success.
Required Reading: Why F.U. Money Is NOT About Trading Hours For Dollars
One of the core principles of F.U. Money is that it’s NOT about trading hours for dollars. There are only so many hours in a day, and so many dollars you can charge. It’s simply not feasible or scalable to be trading hours for money. That’s the live 90% of people live now, and it’s the lives we’re trying to get OUT of.
I really learned that the hard way after I left my first full-time career, working in sports. I was aimless, anxious, and a real mess, and thought the way was to hustle for peanuts on websites like Fiverr. Turns out, that only made things worse.
Sure, you can make good money trading hours for dollars – Lok did too, and he shares his success as a copywriter in the book. But Lok plateaued, realized there had to be another way, and then took that other path (Read more about it in Chapter 25). Not wanting to trade hours for dollars is actually the reason why I quit hustling on Fiverr over a year ago. I realized I was clearly not making the money my efforts were worth, and it wasn’t going to get better. So I got out. It meant sacrificing an income stream, but sacrificing one menial income stream (not even a hundred dollars a month) allows me to focus my efforts on the ones that matter.
Required Reading: F.U. Money Is About Living Your Life Right Now
The number one thing Lok emphasizes is making your F.U. Money, and making it quickly. Now, he’s not saying (and neither am I) that this is about getting rich quick. Not at all. Making F.U. Money may take years, but it’s not going to take decades. That’s what we’ve all been taught. You graduate from college, get a job, put money into your retirement, and compound interest turns that money into what you live off of when you retire.
But—is it really enough money to live of?
More and more, it turns out the answer is no.
Most people aren’t saving enough for retirement, because most people aren’t working for what they’re worth. Millennials especially are statistically underpaid, and are also told that we should be happy to work for less and for longer than the last generation. As I said in my Introduction, I’m not about that life. I want to live now, make my F.U. Money now, and pursue the things I’m passionate about.
I am NOT passionate about spending the next 35 years behind a desk. I know there’s more for me than that.
Required Reading: F.U. Money Means Investing In Yourself TODAY
Don’t wait to live your best life. At the beginning of the book, Lok talks about how he decided to get his pilot’s license, because he loved to fly. Even before he made his F.U. Money, he took as much as he could spare to get it. Why? Because he was serious about his passion. And he didn’t want to wait until he was “rich” to reach for his passion.
It reminds me of one summer a couple years ago. I decided to get a little time and money together and put it into something I’m passionate about. When I was still working full-time in college sports (I’m now a part-time statistician for the institution I used to work at, which is amazing), I decided to actually do something one summer. Summer is when college sports are at their slowest, so I gathered some money together (whatever was left on my paycheck after paying rent and expenses and exorbitant campus parking fees, oh my god the exorbitant parking fees), and signed up for archery classes.
And it was amazing. I loved it and I wish I could do it more. And you know what? I WILL do it more. Hawkeye has always been my favorite Avenger (Don’t ask me my thoughts about A, his Age of Ultron storyline or B, where the hell he was in Infinity War). I’ve even named my cat Bishop, after the other Hawkeye from Marvel Comics, Kate Bishop. Yes, that’s why my girl cat has a traditionally “boy” name. And as Geena Davis proved, it’s never too late to get into competitive archery. Did you know that Arizona is the hub for Olympic archery? Fun fact!
Not only that, but it was something to look forward to, week to week, which made the slow sports summers go by much quicker.
Required Reading: The F.U. Money Chapter That Changed It All
Now, the next section is going to be my Required Chapters section, but I wanted to take time to highlight Chapter 2.
Chapter 2 is where Lok introduces his concept of F.U. Money Targets (F.U.M.T.s.). An F.U. Money Target gives you something concrete to work toward. Instead of thinking, “I want to be a millionaire, that way I can afford whatever the heck I want,” an F.U.M.T. really breaks down how much it costs to achieve your dream life.
And spoiler alert: it’s not always a million dollars.
Lok even shares his personal F.U.M.T. list, and it’s very interesting to see even how much HIS targets cost. It’s an estimation (and a lot of money), but reality isn’t that far off. And most importantly, it’s an achievable goal to attain a desired lifestyle.
“You may look at this list and realize that you would be happy with a lot less. And isn’t happiness what we ultimately want? You can have all the security and happiness you want.” – Dan Lok, F.U. Money, page 41
Chapter 2 also breaks down the two proven ways to make your F.U. Money, and why one option is MUCH better, and comes much quicker, than the other.
Required Chapters From F.U. Money
In the introduction, Lok says you can take some of his advice, but you can also leave some of his advice right there in the book. If there’s something that doesn’t gel with you, that’s perfectly fine. There is no one-size-fits-all route to making your F.U. Money. Take whatever principles you want and leave the ones you don’t.
That said, there are a few chapters in the book that REALLY jumped out to me. Those are the chapters that I’m going to come back to over and over when I read the book again. And I am going to read this book a third time. And a fourth time. And more times. Why? Because I picked up two different insights in my first two read-throughs, and I’m eager to see what else I can glean.
Chapter 4 is another killer, because that one takes the one of the nine major money myths Lok writes about and turns it on its head. And remember his advice from Chapter 5: you can’t afford to wait to change your life. All the money myths from Chapters 3-10 were things I thought were fact. Turns out it couldn’t be further from the truth. And Chapter 10? That’s the myth that really punched me in the face, so to speak.
But which chapter is my all-time favorite? That would be Chapter 17: The Power Of Setting D.I.G. If you get this book for one reason, it’s to read that chapter. But also, read all the chapters.
F.U. Money – The Next Steps
What’s the next step? Buy the book, obviously. F.U. Money – Make As Much Money As You Damn Well Want And Live Your Life As You Damn Well Please is available on Amazon. The step after that? Read it at least once, do the F.U.M.A. (The F.U. Money Assignments), and then implement the strategies you learn. Then read it again.
This book isn’t going to be the be-all-end-all, but it’s a fantastic jumping-off point for people eager to escape the 9-5 grind and live their lives on their own terms. I know I’m one of them. It starts by transforming your mindset into that of Lok and the other millionaires and billionaires he’s learned from.
Have you read F.U. Money? Let me know what your favorite part or parts are in the comments below!
More From The Required Reading Series
Required Reading: The Science Of Getting Rich by Wallace D Wattles
Required Reading: Rich 20Something by Daniel DiPiazza
Required Reading: Rich Dad, Poor Dad by Robert Kiyosaki
Required Reading: Winning Her Business by Bridget Brennan
Required Reading: The 5 Second Rule by Mel Robbins
What other books have you read that have expanded your mindset about business? Let me know your favorites in the comments!
How To Start Making Your Own F.U. Money
Truly, the best way to start on the path to making your own F.U. Money is to have a website of your own. A website gives you credibility, and allows you to a much further reach than any Facebook page or Twitter account will be able to afford. A website that you own will take you higher than any other platform that changes its algorithms on a whim.
I write about hosting my websites in 6 Reasons I Host My Side Hustle On Siteground, and I also write about starting your side hustle in Start Your Side Hustle In 5 Easy Steps. You can get started with a WordPress website, hosted through Siteground for as low as $3.95/month. Not only that, but you can be up and running in less than 15 minutes. It’s that easy.
Don’t forget to pick up your Blog Startup Checklist, so you can be sure you’ve dotted your I’s and crossed your t’s before you launch!
Ready to write an awesome blog post that your audience will devour?
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This is very helpful! Definitely investing in myself today! Thanks!
It’s such a great book! I hope you take as much out of it as I did!
Yes! Thanks for the review as I start my own side hustle! 🙂
Of course! Having the correct mindset is critical to starting a successful side hustle. Before I read F.U. Money, I didn’t know that I was still convinced of aspects about business and wealth that simply aren’t true! Good luck on your journey!
Looks very interesting – I’ll definitely have to read this one.
I hope you enjoy it! Thanks!
Love it! My first side hustle (website) turned into a full time income. The only downside is that I have a conundrum when trading dollars for hours. I set the bar too high on myself. Looking forward to reading this book.
That’s so awesome about your first website! I’m eager for the day I can stop trading hours for dollars. Enjoy the book!
I never heard of FU money before. Interesting read. We all need a little more freedom.
For sure! If you end up reading it, let me know what you think!
Intriguing information. I too am very fascinated by the concept of passive income vs trading dollars for hours.
I spent a year trying to freelance on Fiverr and not only was I trading hours for dollars, but I was trading hours for VERY LITTLE dollars. It sucked. If I had this book a year ago, I probably would have been much better off, much quicker. If you read it, let me know what you think!
Yes! In order to retire early I know that a side hustle is needed. My husband’s side hustle is selling things and mine is blogging. It hasn’t been extremely profitable, but I’m learning and each month I’ve made more and more. Cheers to making money 😉
All things I wish I knew sooner, right? Good luck on your endeavors. If you read the book, let me know what you think!
I’ll have to check this out!
Highly highly recommended! Let me know what you think!
I’ll have to check this one out! Thank you for sharing!
Enjoy! Let me know what you think of it!
Thanks for recommendation. I’m always looking for books in this genre. I’ve read quite a few about the whole trading hours for money and find it interesting.
I highly recommend it! It’s very eye opening and doesn’t hold anything back. Let me know what you think of it!
Very interesting and lots of good info. Thanks!
Thanks!
The post was just as fun to write as the book was to read!
Wow, must get this book!
I highly highly recommend it! Let me know what you think of it!
I love that line from your first post! That’s so incredibly true! I really like to read books like this so I’ll have to check this one out!
When I first read the book, I was like, “Oh hey! That’s what I said!” And then I was like, “Oh hey, I must be on the right track!” Super cool. Let me know what you think of it!
I just checked and this book is on Audible, I’m planning on listing to it.
Let me know what you think of it! I’ve tried audiobooks in the past but it’s hard for me to focus unless I’m actually reading along. Let me know what you think of it!
Now in pursuit of FU Money! Thanks for the review!
Same here! If you read the book, let me know what you think!
This is all so interesting… Thank you for sharing!
Of course! If you read the book, let me know what you think!
Very insightful. Sounds like a great book to keep in the office as a motivator.
It is! I’ve been reading bits and pieces pretty much every day since my second read-through!
Love the idea of leaving the 9to5
So do I! It’s really not for me!
This is great! I am trying to build multiple streams!!
That’s the goal! I’m working hard on refurbishing one on my first website, and then establishing a few on this one!
Great article! I might just have to buy this book. SO much of what you said seems so relevant. I’ve known for quite some time you can’t trade time for money and thats why I started my travel blog! Thank you!
I highly highly recommend it! And I’m sure it’s especially important for a travel blog! I wish I could travel more, which is definitely one of my end goals! Let me know what you think of the book!
Thanks for the recommendation! Leaving the 9-5 (7-4 in my case) is also my goal so if this will help me get there any faster, then I’m in!
Yeah, I hear ya! Mine is actually 8-5, though I do get an hour in for lunch that I take to work on my side hustles! Let me know what you think of the book! Good luck on leaving for day job for a brighter adventure!
Thank you for the recommendation – love reading these type of books! I learned some of the lessons – not trading hours for money – when I had my first business. Learning the lessons and hopefully implementing them now with the newish business. Will get this book this weekend!
This book has definitely opened my eyes to books like this that are actually HELPFUL and not just dry self help books. I have a couple more that I’m reading and planning on reviewing soon. Let me know what you think of it!
Great article! We really don’t know as much as we need to know about our money. It’s what drives everything yet we don’t focus on it enough.
I was NEVER brought up to think like this about my money. It was very eye opening!
Wow! Catchy Title! LOL. I have not heard of this book, but totally agree that passive online income is the way to go.
I know right? It’s definitely self help in that it helps you reframe your mindset, but not as cut dry and BORING as other books like that can be!
After such a glowing review, I’m adding this to my Must Read list. I appreciate when an author is not only approachable but also realistic. This one sounds like a great one.
For sure! This one cuts all the fluff! Let me know what you think of it!
This book sounds like it would give some interesting insight on how to make money.
It really does! I highly recommend it!