Author Topic: Leno: Live On Side Hustle, Save 100% of Day Job Income  (Read 3516 times)

SnackDog

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Leno: Live On Side Hustle, Save 100% of Day Job Income
« on: April 17, 2017, 04:20:48 AM »
Interesting story about how frugal Jay Leno is and how he always had more than one job and considered one for savings and the other for spending.  He banked 100% of his Tonight Show salary and lived off a brutal stand-up schedule of 3 shows a week.   3 days a week is a side "hustle" if you ask me, as that's not easy.

http://www.cnbc.com/2016/12/14/why-jay-leno-has-never-touched-a-dime-of-his-tonight-show-money.html

As expats, we do the same sort of. We have always banked our full salary at home and lived off employer-provided benefits abroad.  One benefit of these schemes is that you are forced to live within the means provided by whichever constraint you choose.  Leno obviously made enough on his side-gig to buy 150 exotic cars, guilt-free.  We ensure we never do a currency transfer or use a home-based credit card - we are forced to live on local currency and employer benefits. 

I have a colleague who likes to spend a lot more than we spend, but his wife has a great local job so they can spend her earnings locally and he can bank his home payroll income.  Another colleague has a spouse who owns a lucrative small business, so they actually live off his income and save all of her or plow back into expanding business. When I was growing up, my mother had part-time jobs which paid for all sorts of discretionary things for the family - clothes, vacations, etc.  She still works about a 100 days a year and she's 80!

Who else has a good side gig or other way to protect 100% of an entire salary for savings while blowing all the side gig income, guilt-free?
« Last Edit: April 17, 2017, 04:23:48 AM by SnackDog »
The habit of saving is itself an education; it fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought, and so broadens the mind. –Thomas T. Munger

Comar

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Re: Leno: Live On Side Hustle, Save 100% of Day Job Income
« Reply #1 on: April 21, 2017, 08:55:50 AM »
I wish I did but I want some freetime to spend with my family.

obstinate

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Re: Leno: Live On Side Hustle, Save 100% of Day Job Income
« Reply #2 on: April 23, 2017, 08:09:27 AM »
I think the generalization of the advice (live on far less than you make) is great. However, if someone works a full time job making $500k and lives on $50k, I'll forgive them not having a side hustle.

SnackDog

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The habit of saving is itself an education; it fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought, and so broadens the mind. –Thomas T. Munger

HipGnosis

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Re: Leno: Live On Side Hustle, Save 100% of Day Job Income
« Reply #4 on: June 15, 2017, 05:57:20 AM »
Technically (or is it literally), Leno lives off his 'job' - he is a comedian.
His comedy got him the talk show 'gig' (which is only a couple / few hours a day).  Granted, it was a really good paying gig.
I've been a fan of Leno for years, from way before The Tonight Show (I actually think Carson was better).
I'm surprised to learn Leno's been doing stand-up all this time.  Every time I've heard of him performing it always sounded like a special event.

Philbert

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Re: Leno: Live On Side Hustle, Save 100% of Day Job Income
« Reply #5 on: June 23, 2017, 09:03:55 AM »
I was an NBC page during the Leno years. Jay Leno would come onto the lot in the morning, work with the writers and producers throughout the day, tape the show at 4:30, then most nights would get on a plane and do a comedy show in Vegas, fly back to Burbank, rinse and repeat. He was one of the nicest, hardest-working guys in the business who truly loves making people laugh. Yes, his car habit was probably anti-mustachian, but he wore the same outfit everyday (denim shirt and jeans), so he saved money there :)

Spork

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Re: Leno: Live On Side Hustle, Save 100% of Day Job Income
« Reply #6 on: June 23, 2017, 03:36:28 PM »
I'm surprised to learn Leno's been doing stand-up all this time.  Every time I've heard of him performing it always sounded like a special event.

He's still doing it.  He came to my mid-size town last year (theater seats 2000ish).  I'm not sure what his take on a ticket sale is, but they were about $80 each.  Multiply that out by 150 shows a year and ... he's doing okay from his "side gig".
Some will sell their dreams for small desires
Or lose the race to rats
Get caught in ticking traps
And start to dream of somewhere
To relax their restless flight

talltexan

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Re: Leno: Live On Side Hustle, Save 100% of Day Job Income
« Reply #7 on: June 27, 2017, 01:26:22 PM »
Certain careers/skillsets lend themselves better to "side gigs" than others. Economics and business professors (I was one of these for a few years) have much better opportunities to consult for local businesses than do faculty in other disciplines.

I've heard a lot of entrepreneur types advise college students to "start a business out of their dorm rooms". This goes brilliantly with this advice.

WhiteTrashCash

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Re: Leno: Live On Side Hustle, Save 100% of Day Job Income
« Reply #8 on: June 29, 2017, 05:19:58 AM »
Most people can't make enough from their side hustle to live off of, but they can do what I do and live off their regular job while banking their entire side hustle (plus a large portion of their regular job.) Jay Leno is an excellent role model for Mustachians (except for the car obsession, but everyone has their hobbies.)

talltexan

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Re: Leno: Live On Side Hustle, Save 100% of Day Job Income
« Reply #9 on: June 30, 2017, 08:15:37 AM »
Suppose you have a side hustle that pays $4,000/month. Your side hustle generates the amount of income that the average household can make in the US. What is your main hustle paying?!?