Topic: A steady source of income is a man's bottom line to support his family - page 8. (Read 1199 times)

A man is not a man until he is able to support his family. Without a good source of income, man can never be respected, because if you look at it in way, A man has three families, his parents/sibling, His wife/children and his wife's family. And when the man don't have a steady source of income it becomes a problem. When a man is unable to provide for his family he is no longer regarded as a man, and he will loss a lot of respect. So a man should have a steady source of income for him to be regarded as a man.

Well he still has the option to find another "well-paying job" if not really "high-paying ones". Back then, I had a couple of interviews asking about my salary preference and they were quite shocked to see that I was like "overpricing" myself and they said that they would offer me below my preferred salary but with "increase yearly" and I would not really go for that kind of scam especially that I do software development. I did my research on how much should be my starting salary, tweak it a little bit and stick with it to whoever interviews me. Stop underpricing yourself since it will hurt your career and sanity in the end.

If there's no possible interviews coming right up for your friend, take the job BUT don't let it stop him from looking from another ones or just like what mk4 mentioned about getting a side hustle leading to multiple streams of income. It is going to be also a good financial "cushion" in case things went south for your friend, which we hope don't happen.

Sad to see establishments, stores and small business losing some of their revenues because of what's happening worldwide, but it's inevitable knowing what's happening right now. The job of your friend is commission based so there's no assurance about that, and it will all depends on how many sales your friend will have.

This is a very risky move by your friend. From what's happening right now, that would've been better than just finding that one job that pays you higher.

He is finding for a job that pays him higher, but what if he can't find one? You already said that he has family to feed. Does he has emergency funds to be used for his family that's why he can still afford to not have a job for several days? You said already in your topic that steady source of income is needed to support the family. I'd rather do lower but many multiple streams of income than wasting time finding that one single job that will pay you higher income.

Currently, I don't have families to feed right now, but I'm readying myself in case that will happen because it really will happen soon. Now that I have a steady source of income, I'm saving some of it for the future while trying to have a steady cash flow thru having a job. My advice to your friend? Get that job that pays lower commission until  you can find another job that pays higher than what he will get on that job/s.

That's why we need to diversify our skills and investments, we should not dwell only on one source of income better have sidelines while trading and still try to acquire some skills that can generate income when needed, it is still okay to have day job and balance the time left to do other activities as sideline. There might be some adjustments but if we have goal it is easier to adopt and once recovered from losses make it a learning step to do better next time or in making decisions especially if we already have our own family.

Engaging with investments is really a good idea but you have to consider factors. If you have a family then you should prioritize them by having a stable income. And if you would have savings to be used on other things, then that could be an amount you can make profit from if you will have the right investment. But what if you have nothing left for such things? then that would be a problem you have to solve. You may adjust daily expenses but only to an extent wherein your family won't get sick becuse of that adjustment. And if it won't work still, then try looking for a job which would pay you higher. How will they hire you? show some skills and that is something you'd work for through years as an employee. Bottomline is for you to have an income which would be enough for a daily living.

The thing that I have felt 4 years ago with very enough income for each week with $ 1000 but everything just ran out without knowing what was bought or done. Everyone can get it, but not necessarily that person can manage what they have in large numbers. now only regret is so big and feel all that can not be repeated again.

Tell your friend to not give up, in every rain, there is a rainbow waiting for him.  He should persevere more the more he got rejected.  His family's future is in his hand so make it as motivation and let the rejections be his tool for better performance.  He should also be open to possible sidelines even though it is out of his job description.  What matters now is for him to earn money to be able to have a budget for his family.  He can apply for any job openning even with lower salaries.  It is better to have little earnings than nothing at all.  He can always look for other high-paying jobs but first, he should establish his financial sources first.

for now, since his friend is trying to get back on his feet, why not accept the job even if the offer is not to his expectations. but still keep looking for better opportunities. because the time passed of looking for a better job, he should have at least earn a lil bit of money to support his family. we can't be choosy these days. because if he will wait for that big opp, he may be wasting those days waiting. unless, he has other side jobs to augment his income while waiting for the big opportunity to come by.

@OP, the story that your friend experienced really touched me, but I don't have much advice for him because if I were in his position then I would definitely be very confused about the situation that I would be in. during the Covid pandemic, I have thought hard about the future, I will take care of my financial condition and only buy things that I really need, the future is truly a mystery, without a good financial foundation, I am sure I will be in a deep depression when there is problem.

Making way for multiple sources of income is good, but this needs to be done with some stable income that won't gets disturbed at any scenario. When we go for multiple income streams we need more investment and the same will be out of the primary income. Beyond certain level the primary earning shouldn't be disturbed, it needs to be allocated for family needs. The income out of different streams can be used for reinvestment.

However, we also need to control our expenses as well because no matter how big we earn in a day or in a month but still spend more than our income, we will still suffer financial problems. Many people had come like this and this will emphasize how important is to have proper budgeting, particularly for expenses.

We can only gain financial freedom if we have plan and budgeting which most of us don't have it. We can't just make this is a word but it should be seriously followed otherwise, we never see any changes in our finances.

In my opinion, everyone of us should try to find multiple sources of income while he works for a steady income job. Saving a part of the salary is becoming much needed now as the financial status of the world is changing fast and no one knows how things will go. Unfortunately, FED rising up interest rates may be helping USA to mitigate the effect of inflation, but it's hitting hard other parts of the world as companies have been relegating some of their employees, resulting in a lot of people like your friend might find themselves forced to accept a low paying job in order to feed their families.
This situation will probably continue for some additional months, but I believe it won't last forever, so we should have patience and be convinced with what we are offered.

It would be wiser for us to engage in side jobs so we can be more stable with our finances knowing there are multi sources of income that would generate money for us. So in case of emergency or any sudden incidents that will occur, we will not worry about the expenses knowing we have reserved funds for that. The more jobs we have, still keeping the main job, the more we can live our life stress free.

Whether you have a good job or not, or whether you are careful not to lose your job is not really important but what is important is the policy that can affect our line of income or the environmental change or condition that affected your friend. Therefore, what we can do is to diversify our source of income into different places that are not related so that economy challenges will not hit them at once and we can keep surviving and reinvesting when we have saved up some money. Challenges will come especially health challenges and it is also related to old age. Making hay while the sun still shines also depends on the capital we can gather to diversify our source of income.

If there is one thing that the Coronavirus has taught us, it is that it is too dangerous to live on or have only one source of income. In the twinkle of an eye, it can be taken away and if you have a dependent, it run the risk of becoming depressed for your inability to provide for their needs.

The recession that saw a lot of organization layoff a good percentage of their staff is another reason why it is too risky to depend on only one source of income. The OP should talk to his friend, he should consider his current state of unemployment as a redirection. Who knows maybe it is time to turn his hobby into a side hustle.

I think that even if you already have skills and your skills are way higher than the existing old employees, you will still start at the very beginning only to be fair. It might take a few months before your boss are fully convinced about your ability and that could be the time that he will promote you and your salary will now increase.

It's nice to know that people don't take a rest after the pandemic hit and many of us are mostly staying at home but they use that time to practice and improve their skills more. They know that the pandemic can soon end and they will return in their own jobs again. If they didn't do that, their ability might deteriorate and their performance will get affected at work.

Yes, I also agree with you, don't give up easily and always be grateful. I have wanted to share my experience about my office friend who pity me because my salary is lower than him. But I don't just focus on one job after I get home from work I also make some extra money. Because I have a side business outside the office. I should be the one feeling sorry for him. His salary is higher but it's always used up to fulfill his satisfaction.

In my opinion, the most important thing is not about a small salary, but how we can be good at managing finances wisely so that there are no shortages of needs at home.

I also disagree with his decision in this case, he doesn't have too much time to choose or demand. Why not accept that job and then get a second part time job? What he needs now is money to take care of his wife, not insurance or welfare for him, and if he has the real capacity, he does his job well, the salary increase will not be too difficult. No one is willing to pay him well when they don't know his skills, if he continues to demand high wages, he will not be able to find a job.

The increase in commodity prices is increasingly difficult to control so that making a man especially those who have family must continue to try to find sources of income, on the other hand the trade is easier for us to do even by becoming a reseller we can get additional income, as long as we want to try seriously and the best of course all problems we can solve.

Reject some jobs because the pay is small isn’t bad but doesn’t seems right to me when the job seeker is doing totally nothing. This days companies rarely pay up to the level of work that was done but one with a family to feed will just have to accept it and maybe still be looking elsewhere for a higher paying job. I have seen and heard of people who later had it big but they started with very low paying jobs.

Also we shouldn’t be too comfortable with jobs even if it is an high paying government job. One needs to diversify to probably owned businesses, this could serve as a insurance for the family should anything happens to the job or the person in the future