Does a side job/business improve your finanical stability ? - page 17.

rangga28

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Quote from: Marcellin9 on January 14, 2023, 02:00:22 AM

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 have also experienced a situation where my financial condition deteriorated due to several factors such as the pandemic until I was kicked out of my place of work. However, I continue to make efforts and evaluate new things to overcome this situation.

You could say, at that time I only had a strong passion and determination to dare to change professions, such as farming/garden until I got to know cryptocurrencies. The point is, keep the spirit and don't be reckless. So that we can think positively to get out of our economic problem zone.
"Nothing is impossible as long as we have the will"

KupaCrypto

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A side job will only increase your income and when not properly managed or invested it won't give you financial stability, at the very beginning you can have side hustles to an empire or an establishment and when you have a well established business your side hustle won't really matter to you,
Side hustle won't give you financial stability but a sustainable source of income that give you money regularly will give you financial stability and if a side hustle is properly manage it can lead to a sustainable source of income.

BRINIRHA

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Quote from: ginsan on February 06, 2023, 03:16:06 PM

You will be bored if your life does not have a job. whatever work you do should give you a percentage of side income either for your living needs or you save it for your future savings.

I myself work as a casual daily labourer, but it's a bit difficult for me to save money in the real world because I don't have a steady job. lucky for those of you who have qualified work, for example working in a government agency or working in a company, you can definitely get a pretty good income every month.

actually at this time it's not only freelance daily workers who have difficulty saving in the real world. but many people who work in other industries such as permanent employees in a factory complain about the same thing. because the problem is that inflation is currently increasing without us realizing it. an increase in the price of basic needs not accompanied by an increase in income/salary is the main problem in this regard. even people's purchasing power has weakened slightly. I hope a recession doesn't really happen.

fadhilz123

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Quote from: ginsan on February 06, 2023, 03:16:06 PM

You will be bored if your life does not have a job. whatever work you do should give you a percentage of side income either for your living needs or you save it for your future savings.

This is very true and I have also experienced extreme boredom when I didn't have any work in the real world. So it's clear that for now any job that can generate income in the real world means a lot to me for now and also side income will always be meaningful to use for any needs in life and can also be carried into future savings if other basic income has exceeded to cover every daily need.

Quote from: pantek talacuik on February 06, 2023, 09:09:11 PM

it becomes an assessment for people who get uncertain jobs but those who work in a company may also have different problems with the debt they have and the lifestyle around them. you will experience a change if the lifestyle in your place is different from what you would have felt in the past.

I think it also really depends on each individual in adjusting himself to the surrounding environment, because if someone still feels he is lacking or poor. Then there is no need to look too much at lifestyles or trends that are less important for him, because that will make him suffer and will always make him feel deficient in his environment.

cafee_orange

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Quote from: Marcellin9 on January 14, 2023, 02:00:22 AM

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 ?

current conditions are difficult conditions in various ways, whether it's looking for a job or doing something. many companies reduce their workers so that many people lose their jobs.
In my opinion, if a situation like this happens to anyone, it is very important for us to do side jobs with the skills we have, both online and offline, in this way our financial stability is guaranteed to be safe. prioritizing work using the skills we have

pantek talacuik

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Quote from: ginsan on February 06, 2023, 03:16:06 PM

You will be bored if your life does not have a job. whatever work you do should give you a percentage of side income either for your living needs or you save it for your future savings.

I myself work as a casual daily labourer, but it's a bit difficult for me to save money in the real world because I don't have a steady job. lucky for those of you who have qualified work, for example working in a government agency or working in a company, you can definitely get a pretty good income every month.

it becomes an assessment for people who get uncertain jobs but those who work in a company may also have different problems with the debt they have and the lifestyle around them. you will experience a change if the lifestyle in your place is different from what you would have felt in the past.

ginsan

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You will be bored if your life does not have a job. whatever work you do should give you a percentage of side income either for your living needs or you save it for your future savings.

I myself work as a casual daily labourer, but it's a bit difficult for me to save money in the real world because I don't have a steady job. lucky for those of you who have qualified work, for example working in a government agency or working in a company, you can definitely get a pretty good income every month.

Marcellin9

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Quote from: Iroh on February 06, 2023, 01:34:45 AM

Quote from: Cryptock on February 05, 2023, 07:48:04 PM

in my case it has not given me financial stability but I am able to pay off my bills and utilities and that is it
side hustle is beneficial only if you are doing it from scratch - and cutting all the costs then you are successful

What do you think financial stability is? The fact that you are able to comfortably pay off your bills and utilities is a sign that you are well on your way to becoming financially stable.
Side hustles are beneficial irrespective if you’re doing it from “scratch”(no clue what you meant there). When you are able to pay off your bills and utilities comfortably, then you are on on your way to being financially independent and stable.
It’s not till when you’ve got 20 yachts or 10 jets, then that is when you should feel financially stable Orr secure.

Good point. Very few people understand this well: financial freedom/independence is not about how much money you own but simply how long and well you can live with your steady income or passive income. Anything else is an extra.

Iroh

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Quote from: Cryptock on February 05, 2023, 07:48:04 PM

in my case it has not given me financial stability but I am able to pay off my bills and utilities and that is it
side hustle is beneficial only if you are doing it from scratch - and cutting all the costs then you are successful

What do you think financial stability is? The fact that you are able to comfortably pay off your bills and utilities is a sign that you are well on your way to becoming financially stable.
Side hustles are beneficial irrespective if you’re doing it from “scratch”(no clue what you meant there). When you are able to pay off your bills and utilities comfortably, then you are on on your way to being financially independent and stable.
It’s not till when you’ve got 20 yachts or 10 jets, then that is when you should feel financially stable Orr secure.

pantek talacuik

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Quote from: og kush420 on February 05, 2023, 07:28:21 PM

Quote from: Ojima-ojo on February 05, 2023, 06:59:28 PM

Quote from: Adbitco on January 14, 2023, 07:16:42 AM

We human must not depends on a single source of income such as office job. I think being self employed would be more profitable and keep you off from financial stress, even though you must work in an office then it's best ideal to have multiple stream of income in other not to be affected much financially. Those working in an office are highly exposed to lose their job at any given time, most times having a skillful works also help you much as well, where you could also renders your services and get paid for the particulars task or skill.

Being your own boss have multiple benefits to the extent that a self-employed individual can easily manage his time and make it flexible to accommodate a side hustle for extra income.

But what we must note is that a side hustle also requires time investment and how you manage that time in building the stream matter the kind of result you get.

It is far better to have one good source of income than to have multiple sources of income streams to will lead you into confusion later in the job.

but being your own boss brings in so much responsibilities to you as well. You are cleaner - manager - cashier of the business at the same time

There are many lessons that you have to do to take this position, you should understand in detail about what it means to be a leader who can make good moves for the company you are developing.

Theones

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Quote from: boyptc on January 18, 2023, 09:51:17 PM

Quote from: Finestream on January 18, 2023, 07:41:50 PM

Quote from: boyptc on January 16, 2023, 04:36:19 PM

Not really owning a business but as you've said having multiple jobs.

You can be employed with several employers as a freelancer and work with all of them with the same skill that you've got. But to be on this type of situation will require you vast experienes and confidence that you can deliver what the clients are asking you.

For skilled people, specially those that have in demand skills, they're the most desirable in the gig marketplace as they're like the performance/output based jobs.

Surely, skilled people will always have their advantage since they can be well compensated if their employers become satisfied with their performance.

And the employers don't have to spend time and money for trainings because they already know what the job will be. So, it both saves them time and it'll be easy for the new hiree to get onboard by being skilled and experienced.

Quote from: Finestream on January 18, 2023, 07:41:50 PM

But I believe even if you got multiple sources of income, as long as you cannot manage your finances well, and you keep on spending on unnecessary items, you will never be stable financially and worst is you may even drown from a debt.

I cannot argue with that because I also believe that financial literacy depends on people. Even if you're the most and highest paid employee but you are financial illiterate, you're going to have hard time in managing your finances and will still end up being unstable.

And someone who doesn't earn that much but are good in budgeting, he'll be able to win against that someone who earns a lot but don't know how to budget.

Because the thing here and reality is that, if you're earning more, your lifestyle is also improving so you have to sustain that.

Rich people who making good money using those platforms to make some good profits, those who are willing to explore and take chances.
These are daring people and take risks - but having said that they keep their mind and heart open

n0ne

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Quote from: og kush420 on February 05, 2023, 07:28:21 PM

Quote from: Ojima-ojo on February 05, 2023, 06:59:28 PM

Quote from: Adbitco on January 14, 2023, 07:16:42 AM

We human must not depends on a single source of income such as office job. I think being self employed would be more profitable and keep you off from financial stress, even though you must work in an office then it's best ideal to have multiple stream of income in other not to be affected much financially. Those working in an office are highly exposed to lose their job at any given time, most times having a skillful works also help you much as well, where you could also renders your services and get paid for the particulars task or skill.

Being your own boss have multiple benefits to the extent that a self-employed individual can easily manage his time and make it flexible to accommodate a side hustle for extra income.

But what we must note is that a side hustle also requires time investment and how you manage that time in building the stream matter the kind of result you get.

It is far better to have one good source of income than to have multiple sources of income streams to will lead you into confusion later in the job.

but being your own boss brings in so much responsibilities to you as well. You are cleaner - manager - cashier of the business at the same time

Being our own boss makes the profession more interesting and it push us to go ahead and perform better and better over time. In simple, when we experience good profit or success out of reaching a level, the happiness and excitement will be different and that can't be enjoyed from the day job. The risk is high, but the feel is different and atleast for this everyone should try to be their own boss.

Cryptock

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Quote from: White pawn on February 04, 2023, 03:45:10 PM

Quote from: shinratensei_ on February 03, 2023, 07:52:35 PM

it's common sense that the key of becoming rich isn't exactly saving up your money for many decades it's to increase your income and have many sources of income incase one of them falls.
in this case if the side job is increasing your income of course it will increase your financial stability, it's just no brainer, but the problems arise only if the side hustle that you did potentially disrupt your main job that gives you biggest share of incomes, but if the side hustle has more potential of generating money for you, then I guess it's all good. you could even abandon your main job if your side hustle turning out to be something big.

In a lot of cases, the side jobs have proven more profitable and lucrative than the main job. And obviously, if your side jobs becomes more profitable, then you’ve got to lay out your priorities. Make the side job your main hustle and turn the main one into a side gig. One would obviously put more effort into what’s giving him more money.

Saving alone can not help you beat the economic downturn and inflation all over. You need several sources of income to comfortably live in our inflation riddled economy. Getting a second job or a side hustle isn’t overrated as it has now become important.

in my case it has not given me financial stability but I am able to pay off my bills and utilities and that is it
side hustle is beneficial only if you are doing it from scratch - and cutting all the costs then you are successful

og kush420

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Quote from: Ojima-ojo on February 05, 2023, 06:59:28 PM

Quote from: Adbitco on January 14, 2023, 07:16:42 AM

We human must not depends on a single source of income such as office job. I think being self employed would be more profitable and keep you off from financial stress, even though you must work in an office then it's best ideal to have multiple stream of income in other not to be affected much financially. Those working in an office are highly exposed to lose their job at any given time, most times having a skillful works also help you much as well, where you could also renders your services and get paid for the particulars task or skill.

Being your own boss have multiple benefits to the extent that a self-employed individual can easily manage his time and make it flexible to accommodate a side hustle for extra income.

But what we must note is that a side hustle also requires time investment and how you manage that time in building the stream matter the kind of result you get.

It is far better to have one good source of income than to have multiple sources of income streams to will lead you into confusion later in the job.

but being your own boss brings in so much responsibilities to you as well. You are cleaner - manager - cashier of the business at the same time

Ojima-ojo

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Quote from: Adbitco on January 14, 2023, 07:16:42 AM

We human must not depends on a single source of income such as office job. I think being self employed would be more profitable and keep you off from financial stress, even though you must work in an office then it's best ideal to have multiple stream of income in other not to be affected much financially. Those working in an office are highly exposed to lose their job at any given time, most times having a skillful works also help you much as well, where you could also renders your services and get paid for the particulars task or skill.

Being your own boss have multiple benefits to the extent that a self-employed individual can easily manage his time and make it flexible to accommodate a side hustle for extra income.

But what we must note is that a side hustle also requires time investment and how you manage that time in building the stream matter the kind of result you get.

It is far better to have one good source of income than to have multiple sources of income streams to will lead you into confusion later in the job.

odunybiz

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Side job has helped me in so many ways. Through it I have made some savings and it has also helped in paying some bills before my main salary arrive at month end. It's good to have a side job as an alternative I'm case there is a fuck up in ones main job.

White pawn

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Quote from: shinratensei_ on February 03, 2023, 07:52:35 PM

it's common sense that the key of becoming rich isn't exactly saving up your money for many decades it's to increase your income and have many sources of income incase one of them falls.
in this case if the side job is increasing your income of course it will increase your financial stability, it's just no brainer, but the problems arise only if the side hustle that you did potentially disrupt your main job that gives you biggest share of incomes, but if the side hustle has more potential of generating money for you, then I guess it's all good. you could even abandon your main job if your side hustle turning out to be something big.

In a lot of cases, the side jobs have proven more profitable and lucrative than the main job. And obviously, if your side jobs becomes more profitable, then you’ve got to lay out your priorities. Make the side job your main hustle and turn the main one into a side gig. One would obviously put more effort into what’s giving him more money.

Saving alone can not help you beat the economic downturn and inflation all over. You need several sources of income to comfortably live in our inflation riddled economy. Getting a second job or a side hustle isn’t overrated as it has now become important.

lizarder

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Quote from: Marcellin9 on January 14, 2023, 02:00:22 AM

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.

We can ignore the narrow-mindedness that keeps pushing someone to work part time and be tied to the system they don't have any freedom, on the other hand people choose to work anything to generate income and even if it's small, because they have a big responsibility towards their family, while the system and any rules will never affect them.

Quote from: Marcellin9 on January 14, 2023, 02:00:22 AM

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 ?

Anyone can build a business, it doesn't matter big or small, because the most important thing is that someone must be able to analyze what business is suitable for them to develop, because building a business requires skills and networks as reinforcement. I never believed in instant jobs, because everyone needs a process to develop whatever they want.

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Quote from: og kush420 on February 03, 2023, 07:54:59 PM

Quote from: shinratensei_ on February 03, 2023, 07:52:35 PM

it's common sense that the key of becoming rich isn't exactly saving up your money for many decades it's to increase your income and have many sources of income incase one of them falls.
in this case if the side job is increasing your income of course it will increase your financial stability, it's just no brainer, but the problems arise only if the side hustle that you did potentially disrupt your main job that gives you biggest share of incomes, but if the side hustle has more potential of generating money for you, then I guess it's all good. you could even abandon your main job if your side hustle turning out to be something big.

even if it donest make you rich - it gives you some cushion to pay off your expenses.

So from what I catch that you will take one of the options to make you survive or be rich with what you have. You say that if your second job was more convincing and profitable you would leave your first job. it makes sense for some people to look for things that make money easier.

og kush420

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Quote from: shinratensei_ on February 03, 2023, 07:52:35 PM

it's common sense that the key of becoming rich isn't exactly saving up your money for many decades it's to increase your income and have many sources of income incase one of them falls.
in this case if the side job is increasing your income of course it will increase your financial stability, it's just no brainer, but the problems arise only if the side hustle that you did potentially disrupt your main job that gives you biggest share of incomes, but if the side hustle has more potential of generating money for you, then I guess it's all good. you could even abandon your main job if your side hustle turning out to be something big.

even if it donest make you rich - it gives you some cushion to pay off your expenses.

Topic: Does a side job/business improve your finanical stability ? - page 17. (Read 3303 times)