Considering the current economic situation all around the world, it's very wrong and it's unsustainable for and individual that have family to depend on a single source of income, because the economic pressure keeps on getting higher and higher even now, and then.
Like in my own state, I have two jobs am doing that even gives me spare time to use in some other productive things, but I also have some investment already in place which I believe will be rewarding to me in the nearest future, so it's very good that in this current economic situation, you have more than a source of income, though it can't garrantee financial stability, but your economic situation will be much more better.
Topic: Does a side job/business improve your finanical stability ? (Read 3438 times)
I think I will seek out additional income sources to diversify my financial security and avoid relying solely on one source in case it encounters difficulties. Ideally, I would like to have a diverse income portfolio, with one source providing a stable income to cover basic expenses and another offering long-term growth potential and the possibility of higher earnings. Additionally, I believe it is crucial to establish an emergency fund that can cover at least six months of living expenses.
When we know that having only one source of income cannot meet our needs and it will be very difficult for us to save and we have to look for other sources of income in order to meet our needs and also save or even invest for our future, Having an emergency fund is indeed a very important thing because we will never know for sure when we will need these funds, so the best thing is to prepare in advance so that it won't be difficult when we experience the need for emergency funds that we need, but if we only have one source of income Of course it will be very difficult to think about having these funds. 
To make a living, we must work. In uncertain days like now facing the global economic downturn, a stable job with high income becomes a scarcity. A side job or business seems like more necessary than ever, which can minimize the risks of losing your current job, ending up pennyless. However, a side job/business also takes time and efforts and can never be attained whenever we need it. What did you do or will you do in order to ensure your finanical stability despite all unfavorable circumstances ?
I think I will seek out additional income sources to diversify my financial security and avoid relying solely on one source in case it encounters difficulties. Ideally, I would like to have a diverse income portfolio, with one source providing a stable income to cover basic expenses and another offering long-term growth potential and the possibility of higher earnings. Additionally, I believe it is crucial to establish an emergency fund that can cover at least six months of living expenses.
With today's rising standard of living and the volatility of the global economy, the importance of having another job or business alongside one's current job to improve one's financial stability cannot be expressed by words. And I think there will be more instability in this global economy in the future, either due to the arrival of various pandemics or wars. So to stabilize my future life or increase financial security in my future life I decided to invest in my present job as well as satisfaction and I invested in BTC in an initial and experimental very small scale. Although this seems to be a very difficult thing for me, I think that working through hardships is never in vain, hopefully from here, I can also create a stable economic system.
Not just a side job or part-time job, because you are not sure for how long you can sustain working in your full-time, side job, or part-time job, right? Instead, aim to have a business where you know you can handle or manage it. Make use of your skills and mind in order to come up with a business you might establish that can guarantee you a profit for the long term. I said this because this is my long-term goal, where I don't want to work in corporate for too long. I want to have a business when I'm still young and make it grow and focus on it so that I am the boss and I can handle my own time. But of course, establishing a business is not that easy. That's why you can only do that if you know what you are capable of, business or investment that should be the goal for those who are already in corporate work.
That's right, if we realize we have a skill then we should be able to hone it and make it an additional source of income for us. Because I think depending on the main job alone might be enough, but if we still have free time after returning from the main job, there's nothing wrong with doing our skills that might be able to produce income too. Full-time work is sometimes tiring, but I think when we work with the skills we have it will be fun, because the skills we have certainly have a fun side too.I think almost everyone wants their own business, especially people who want to advance in life. They must be trying as much as possible to have their own business, because it's true what you said, it's also impossible to continue working in a company, sometimes I think I see those who work in the office or company boring, but I don't know clearly too. I myself prefer to work in the open field mingling with many people, even those I don't know. It's just that if you really want to have a side business, you have to be able to manage your time so that you don't lack rest too.
To make a living, we must work. In uncertain days like now facing the global economic downturn, a stable job with high income becomes a scarcity. A side job or business seems like more necessary than ever, which can minimize the risks of losing your current job, ending up pennyless. However, a side job/business also takes time and efforts and can never be attained whenever we need it. What did you do or will you do in order to ensure your finanical stability despite all unfavorable circumstances ?
Well, I agreed with you. With the way our country is now, we don't have to only depend on our work that pays monthly, we have to do a side job or business that we earn money daily or weekly because it will save us from a lot of pressure from the country like high cost of goods and services and with side job or business, we will be able to save for future use and gives us peace of mind .
Doing a side job or business can be very helpful and improve our financial stability in some ways.
To make a living, we must work. In uncertain days like now facing the global economic downturn, a stable job with high income becomes a scarcity. A side job or business seems like more necessary than ever, which can minimize the risks of losing your current job, ending up pennyless. However, a side job/business also takes time and efforts and can never be attained whenever we need it. What did you do or will you do in order to ensure your finanical stability despite all unfavorable circumstances ?
Well, I agreed with you. With the way our country is now, we don't have to only depend on our work that pays monthly, we have to do a side job or business that we earn money daily or weekly because it will save us from a lot of pressure from the country like high cost of goods and services and with side job or business, we will be able to save for future use and gives us peace of mind .
Doing a side job or business can be very helpful and improve our financial stability in some ways.
To make a living, we must work. In uncertain days like now facing the global economic downturn, a stable job with high income becomes a scarcity. A side job or business seems like more necessary than ever, which can minimize the risks of losing your current job, ending up pennyless. However, a side job/business also takes time and efforts and can never be attained whenever we need it. What did you do or will you do in order to ensure your finanical stability despite all unfavorable circumstances ?
It'll be so unwise of me to depend confidently in my present career or job in this ongoing crisis with finance.The Internet here also serves to us a better masterpiece of finding job opportunities.
It's true that to make a living,you must work hard,not necessarily you been a jack of all trade,but its best you're specific about what you intend to do and desire.Currently,there are no jobs anywhere,so many graduates are tired of rendering and submitting their CV's to companies/firms because almost all their efforts to seek one has displayed fruitless.
The truth is that having a side hustle can literally improve your financial living.Consider the fact that you're spending every income/profit from your side hustle on your personal upkeep,and your salary alone goes to investment and savings.Then you need not to worry about anything in particular because you've literally created substitute for comfortable experience.
That's not a bad idea at all! Supplementing your income through a side hustle is far superior to squandering time on unproductive pursuits. However, when considering a side job, it's crucial to strike a balance between the effort expended and the income gained. You wouldn't want to exhaust yourself pursuing additional income and compromise the quality of your restful moments.
In reality, finding a side gig isn't as arduous as it may seem, as its role is not to serve as the primary source of our financial well-being. Hence, anything that generates income apart from your main occupation qualifies as a side job.
Here's an easy tip for securing a side gig: shed any feelings of insecurity or social stigma attached to your persona. Such inhibitions only hinder your progress. Let the opinions of others about you fade into insignificance, as long as you can maximize opportunities, you're on the right path.
In reality, finding a side gig isn't as arduous as it may seem, as its role is not to serve as the primary source of our financial well-being. Hence, anything that generates income apart from your main occupation qualifies as a side job.
Here's an easy tip for securing a side gig: shed any feelings of insecurity or social stigma attached to your persona. Such inhibitions only hinder your progress. Let the opinions of others about you fade into insignificance, as long as you can maximize opportunities, you're on the right path.
Although it's not easy to carry on two jobs at a time with your 100% efficiency, you look for side jobs only if your main job is not giving you all the benefits and financial support that you need for a smooth life.
Realistically there should be only 1 job that you should do with all your determination and energy and in return that job provides you with all the financial ease.
having additional income from a side job can indeed help someone who does not get a large enough salary from his main job. But to have a side job is also not as easy as imagined. Because we have to be able to manage time and sacrifice our rest time to be less. So this is where the real challenge is for those of us who have more than 1 job. We have to keep working more but also have to take care of our health. Realistically there should be only 1 job that you should do with all your determination and energy and in return that job provides you with all the financial ease.
To make a living, we must work. In uncertain days like now facing the global economic downturn, a stable job with high income becomes a scarcity. A side job or business seems like more necessary than ever, which can minimize the risks of losing your current job, ending up pennyless. However, a side job/business also takes time and efforts and can never be attained whenever we need it. What did you do or will you do in order to ensure your finanical stability despite all unfavorable circumstances ?
That is true to make a living we must work. Doing a side job or business can add up as a source of income for us. Nowadays we do need to have a side jobs or a business to be able to cover up all our expenses. Because if your source of income is just your salary i am sure it is not enough to cover your expenses unless you have a good salary. Despite of unfavorable circumstances i would choose to have a side jobs because having a side job could add up to our extra income and with that i don't need to worry where should i get extra funds to be able to sustain my daily needs and my family needs.
To make a living, we must work. In uncertain days like now facing the global economic downturn, a stable job with high income becomes a scarcity. A side job or business seems like more necessary than ever, which can minimize the risks of losing your current job, ending up pennyless. However, a side job/business also takes time and efforts and can never be attained whenever we need it. What did you do or will you do in order to ensure your finanical stability despite all unfavorable circumstances ?
That is true to make a living we must work. Doing a side job or business can add up as a source of income for us. Nowadays we do need to have a side jobs or a business to be able to cover up all our expenses. Because if your source of income is just your salary i am sure it is not enough to cover your expenses unless you have a good salary. Despite of unfavorable circumstances i would choose to have a side jobs because having a side job could add up to our extra income and with that i don't need to worry where should i get extra funds to be able to sustain my daily needs and my family needs.
Having a side job or a business can definitely improve your financial stability. It can provide an additional source of income that can help you pay off debts, save for emergencies, or even invest for the future. A side job can also help you diversify your income streams, reducing the risk of relying solely on one source of income. A side job or a business can help you develop new skills and gain experience that can be valuable in your career. It can also provide a sense of fulfillment and independence as you are able to pursue your passions and interests outside of your main job. It's important to consider the potential downsides of having a side job or business such as the additional time commitment and the risk of burnout. It's important to balance between your main job, your side job or business and your personal life to avoid becoming overwhelmed.
It’s essential one to keep some side job to keep your economic stability.Every one need of some funds during the medical emergency,it will be the unexpected one.Since we all are in the range of 30+ ages,Surely our parents will around 50-60 ages.So they easily communicable to the disease due to the age factors.So we should keep some money for our family situation,even we can save ourselves from getting credits from our friends circle.The two jobs make us more stable in economic activities.
It doesnt mean that you would be needing other jobs but if you are really that eager or having that kind of mindset that you should earn more to have more savings and other opportunities then pretty sure this would really be your main consideration or acting something which you do have planned earlier. Having more jobs or side hustle would really give out that chance to make money which means that even if you arent needing it but time
comes on which you would really be making use of the money that you are earning. We know that having more is always better and you wouldnt really be ending up on a tough situation when you are in financial crisis
or emergency times. This is why it would be always wise on taking up these actions before anything could happen, we know there are moments in life which it isnt really something that could be avoided.
Although it's not easy to carry on two jobs at a time with your 100% efficiency, you look for side jobs only if your main job is not giving you all the benefits and financial support that you need for a smooth life.
Realistically there should be only 1 job that you should do with all your determination and energy and in return that job provides you with all the financial ease.
Realistically there should be only 1 job that you should do with all your determination and energy and in return that job provides you with all the financial ease.
Having a side job or a business can definitely improve your financial stability. It can provide an additional source of income that can help you pay off debts, save for emergencies, or even invest for the future. A side job can also help you diversify your income streams, reducing the risk of relying solely on one source of income. A side job or a business can help you develop new skills and gain experience that can be valuable in your career. It can also provide a sense of fulfillment and independence as you are able to pursue your passions and interests outside of your main job. It's important to consider the potential downsides of having a side job or business such as the additional time commitment and the risk of burnout. It's important to balance between your main job, your side job or business and your personal life to avoid becoming overwhelmed.
It’s essential one to keep some side job to keep your economic stability.Every one need of some funds during the medical emergency,it will be the unexpected one.Since we all are in the range of 30+ ages,Surely our parents will around 50-60 ages.So they easily communicable to the disease due to the age factors.So we should keep some money for our family situation,even we can save ourselves from getting credits from our friends circle.The two jobs make us more stable in economic activities.
Everyone in their comments stresses that having a side job brings financial stability. However, this leads to two important conclusions:
- The main job does not achieve the required financial stability, and instead of thinking about changing it or obtaining qualifications for a better job, it is preferable to double the working hours.
- That a person who succeeds in working two jobs a day cannot have an interest in his private life and dedicate part of his time to himself.
These conclusions concern people who work part-time or full-time jobs and do not include those who run their own businesses.
- The main job does not achieve the required financial stability, and instead of thinking about changing it or obtaining qualifications for a better job, it is preferable to double the working hours.
- That a person who succeeds in working two jobs a day cannot have an interest in his private life and dedicate part of his time to himself.
These conclusions concern people who work part-time or full-time jobs and do not include those who run their own businesses.
Well if you don't make enough with your first income you take take many different routes. First and foremost just what you recommended. Either work more if you can at your current job or take on a second one. Second is important and nobody ever really looks at this as a favorable one, live to your means. Downsize if you have to. Don't eat out, don't go out as much, etc. Third you can always look into splitting your costs like getting a roommate, etc.
Do anything that makes money apart from the steady job we have, because it will make us more prepared when we might think about starting our own business and getting out of the job we currently have. Most people just sit in their comfort zone, so they are satisfied with just one income, even though the free time they have is enough to do side jobs that will bring financial benefits. Moreover, now is the era when we can see business opportunities from anywhere, including from our own hands. I mean the cellphone that we have can really generate income with an online business or something like that, that is one of the real opportunities in our hands, yes, although it might take time for something we build to produce what we want.
Though there are still people content with where they are, like they are receiving enough money on their job and their free time, they will tend to relax and rest, unlike us, who are aiming higher as our salary is not enough. That is also the reason for others, even if they are working two jobs and have a side hustle just to cope with their needs. You are right, you can build a business through the phone, but that means that you can build a physical business, and for the marketing, it would be on the phone for social media.
Everything comes back to intention, but for me personally I prefer to take advantage of all conditions, at least this is a form of survival for me to support my current life or for future plans.
I think it does. Wages are generally lagging behind inflation and financial crisis. If you are able to set up stable business you can avoid many issues. Second jobs are bit too useless in my opinion. You waste your life marginal gains. But money generating business is something perfect. If you combine wage with business you can strike huge investment opportunities too. Not paying from bill to bill but saving money to do investments is better.
Having 2 or more sources of income will actually be enough to help financial growth in our lives. But sometimes people forget to also prioritize their health, namely giving them enough time to rest. Because doing side jobs looks easy but actually it takes our rest time. So that proper time management is needed in this case. in order to maintain a balance between work time and rest time. But indeed to avoid the impact of inflation, we inevitably have to work harder to make more money. so that we can continue to invest for the future with the maximum. To make a living, we must work. In uncertain days like now facing the global economic downturn, a stable job with high income becomes a scarcity. A side job or business seems like more necessary than ever, which can minimize the risks of losing your current job, ending up pennyless. However, a side job/business also takes time and efforts and can never be attained whenever we need it. What did you do or will you do in order to ensure your finanical stability despite all unfavorable circumstances ?
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