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 ?
Topic: Does a side job/business improve your finanical stability ? - page 4. (Read 3451 times)
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 ?
yeah that really helps. With additional work, I can save and invest more confidently because I have free money that I save. On the other hand, I still have money for my daily needs. we really need additional work if it is to make us want to develop financially so that we become people who have far more financial freedom than continuing to be employees.
if you have free time of course that's great but if the main job takes a lot of time and already has enough income I think a side job is not needed anymore.side jobs are only needed by people who have a lot of free time and lack of money.
our body also needs rest so that must also be considered, not only because of money everything has to be chased.
But all off your hardwork like doing all of you hussle are you now financial free ? Because you work a lot and you ain't saying your stressed or you dont have enough sleep because myself i do only have 1 side hustle and full-time job but i dont have enough sleep and been busy all the time but I think its because i do have family now to take care and needed to attend to but I would still day that i dont have financial freedom on my end
Therefore we must be smart. Manage time when working on the side so we can rest, because rest is also important in maintaining health even though there is a lot of work. Indeed setting the time is difficult but if we do it with discipline in the time rules that have been made then we will be consistent with the time rules. Therefore it takes strong pressure and commitment, not just being reactive for a moment. That way we can achieve our desire, namely financial freedom.I think it's about being stable and not being financially free but he might be there someday by doing all of these activities he's got. Someday he'll be able to see the results of it and he'll not regret farming and planting while he's got free time. And if someone is able to do all of these things all at ones, he's good at managing time. There are those people that can manage their times properly and can do a lot of activities and waste not those free times that they have.
The point is don't get stressed, work is scheduled and done in a fun way. Because in living this life we need balance and make the best use of free time. Appreciating the process will later find the benefits in a process. That way, even if the expected results are not achieved, we will not regret spending time and energy on the things that are important in our lives. especially if successful, of course it will maintain our financial stability. 
yeah that really helps. With additional work, I can save and invest more confidently because I have free money that I save. On the other hand, I still have money for my daily needs. we really need additional work if it is to make us want to develop financially so that we become people who have far more financial freedom than continuing to be employees.
Of course. people who want side jobs are those who add to their income outside of the income from the main job. I think it's better to do work without risk or if it's an investment, use money that is free to use, don't use money that will be used. using the money you want to invest is a fatal step where you can destroy your own assets in one mistake.
So, in fact, money from side jobs can also be used for investment if indeed the additional income is cold money. We can use the basic salary from our main job to meet our daily or monthly needs and additional income from side jobs for savings and investment. at least that's what i do at the moment. and also don't forget to keep our body healthy. by paying attention to a healthy lifestyle such as adequate rest and eating healthy food. and occasionally accustoming our bodies to regular exercise is also very necessary. even though it's only 30 minutes per day, it can have a big impact on the stability of our health.but not all are as lucky as you that the main job is enough for their needs, as others tend to have side hustles so that it would be enough, so they can't still use it for investment unless they have a good salary that can meet their needs. That is really the sad truth right now: people are working more than one job so that it will be enough for their family, and they are also sacrificing their health and time just to maintain those financial things.
Of course. people who want side jobs are those who add to their income outside of the income from the main job. I think it's better to do work without risk or if it's an investment, use money that is free to use, don't use money that will be used. using the money you want to invest is a fatal step where you can destroy your own assets in one mistake.
So, in fact, money from side jobs can also be used for investment if indeed the additional income is cold money. We can use the basic salary from our main job to meet our daily or monthly needs and additional income from side jobs for savings and investment. at least that's what i do at the moment. and also don't forget to keep our body healthy. by paying attention to a healthy lifestyle such as adequate rest and eating healthy food. and occasionally accustoming our bodies to regular exercise is also very necessary. even though it's only 30 minutes per day, it can have a big impact on the stability of our health. 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 ?
Not all side-hustles are as profitable as you think. Just cause you got a second job doesn't mean you're out of the woods now and you can just live lavishly. There's a couple of factors that would affect how great this side-hustle of yours is, and I call the main factor the Money-over-Effort variation.
Money-over-Effort Variation just goes like this. Take a calculator, and divide your average daily earnings to how much time in hours that you spend on your side job. Now, check your main job's hourly rate. If it's 50% or higher, then you have a pretty solid side-job and I suggest you keep it. Anything below 50% to me is a complete waste of time and shouldn't be pursued, cause you could be using that time to work for more valuable ventures and you're wasting it over a side-hustle that pays you peanuts.
This doesn't necessarily apply to businesses, especially if you're just starting up. But for everything else, this is a pretty good gauge of how well you're gonna be with having 2 jobs. Time is your main currency here and you can't be wasting too much of it over lost causes and fruitless labor.
This gauge helps you determine how valuable your time is for you. Resilience will not get you anywhere especially in the corporate world, it's going to eat you alive and will leave you a soulless corpse of an employee, who'd rather just stay as a number that's replaceable when you die over having a full life and a self-worth to boot.
Although I don't agree with everything you said but your last paragraph made an excellent point with which I totally agree. Time is our most precious and valueable asset that we should spend very carefully. Anyone who is not thinking about their future and just focusing on being an employee will end up bad when companies go under. To consider and live a full life with self-worth is essentially a question to think before we live, not a goal or consequence that is far away from the current moment.
~ snip ~
So I figured since that is something that is already "common sense", it shouldn't be challenged per se when I'm talking about money-over-effort variation.
Um... alright, I'm starting to grasp your point. I greatly appreciate differing opinions as they broaden my perspective according to each individual's principles. So I figured since that is something that is already "common sense", it shouldn't be challenged per se when I'm talking about money-over-effort variation.
So, what would you do if at some point you really wanted to have a side job, but the ones available don't meet your salary expectations? Would you choose not to take any of them and instead focus on resting during your free time?
In certain situations, there's a scarcity of creativity among people, making it incredibly challenging to find a side job that aligns with the 'money-over-effort variation' standard.
Personally, I'd much rather rest and do stuff on my end, stall opportunity, while at the same time bettering my self in other ways like lifting weights, taking care of myself, or reading self-help and good books that would nourish my brain.
The Money-over-Effort Variation is a great gauge for how PROFITABLE a side hustle is, in the event that you are in the position where you can find other ventures that would better suit you. If it comes to a point where it's between choosing a low-paying job over resting, it's something that the person itself could only answer. I'm no psychologist, just some dude on the internet trying to impart something that I think is good and might help people who are unknowingly lowballing themselves by staying in a dead-end side hustle when they have the opportunity to make the switch.
a side job or business, of course, aims to be able to improve finances, if we have done a side job or business but the income doesn't change, then there is something wrong with what we are doing, maybe the side job is ineffective and just a waste of time, or expenses are greater than income , as I experienced when I took a side job as an apartment marketing which can be done on holidays or weekends, unfortunately I have go to the mall for promotions so that makes the expenses increase.
A side job or business is not a terrible idea at all, but both can enhance your financial situation. Anything that will bring in money matters, but operating a business in an economy with high inflation carries a lot of risk. Earnings can't even keep you afloat anymore because everything is getting more and more expensive. I respect individuals who have wives and children because it's damn hard to take care of them and talking about feeding and other maintenance isn't even humorous. And if you're searching for a side job, I believe you should search for one that pays better because it will at least help you financially, albeit the higher the salary, the more complications there may be, Thats life for ypy.
Maybe for others it improves financial stability, but for me it depends on the strategy that the individual does, for example you are working hard, but you neglect your own health and you are also stressed, I think it does not help financial stability.
I can only say that it is stable if the system we are working on is right, the type of you are working smart with the right system unlike when you are working hard but your not working smart.
I can only say that it is stable if the system we are working on is right, the type of you are working smart with the right system unlike when you are working hard but your not working smart.
It counts for me as well. If you are doing an extra side job but you are not caring about your health, eventually it will fire back and it might cause you to spend more on your hospitalizations or medications.
But like what you said, if you are good at balancing your system and you can manage to save up and not to
overspend then it will bring good impact to your finances.
Eventually you will save up, and that savings can be used for business or investment that will give
you a chance to change your lifestyle once you succeed.
if you are really that serious on having that multiple income sources.
Somewhat despite of such condition, you should really be that still concern of your health and its true that it would be useless that if you do make your body too much involved on work and compromise your sleep
then sooner or later it would really be backfiring into you and all of those earnings and savings you do have in fiat would really be just spend up on your health or medication
which it is really that somewhat pointless on doing so. This is why everything should really be taken on a balanced manner on where it should really be still not that compromising your
health despite of multiple dealings.
Of course. people who want side jobs are those who add to their income outside of the income from the main job. I think it's better to do work without risk or if it's an investment, use money that is free to use, don't use money that will be used. using the money you want to invest is a fatal step where you can destroy your own assets in one mistake.
The internet space actually offers much greater opportunities for side business (even permanent), but it needs to measure some things that are generally not different from real-world businesses such as skills to adapt to market needs, financial ability to determine the scale of business, and environmental interests.
Of course, to build a new business in the midst of difficult times is really hard work and requires a lot more evaluation.
Of course, to build a new business in the midst of difficult times is really hard work and requires a lot more evaluation.
It is important to have a side job or investment, because of the inflation that is hitting many countries, making the cost of living to be quite high. Personally I've realized that one of the best places to get a side income or a permanent business is the internet, an example is bitcoin investment or trading, because it requires mainly your intelligence and time to earn money in the comfort of your home, as against a job, that requires your physical presence in a place of work. I also agree that if someone has the opportunity it is important to acquire skill outside of your work area, these skills can became a side business to support inflow of income.
Maybe for others it improves financial stability, but for me it depends on the strategy that the individual does, for example you are working hard, but you neglect your own health and you are also stressed, I think it does not help financial stability.
I can only say that it is stable if the system we are working on is right, the type of you are working smart with the right system unlike when you are working hard but your not working smart.
I can only say that it is stable if the system we are working on is right, the type of you are working smart with the right system unlike when you are working hard but your not working smart.
It counts for me as well. If you are doing an extra side job but you are not caring about your health, eventually it will fire back and it might cause you to spend more on your hospitalizations or medications.
But like what you said, if you are good at balancing your system and you can manage to save up and not to
overspend then it will bring good impact to your finances.
Eventually you will save up, and that savings can be used for business or investment that will give
you a chance to change your lifestyle once you succeed.
Maybe for others it improves financial stability, but for me it depends on the strategy that the individual does, for example you are working hard, but you neglect your own health and you are also stressed, I think it does not help financial stability.
I can only say that it is stable if the system we are working on is right, the type of you are working smart with the right system unlike when you are working hard but your not working smart.
I can only say that it is stable if the system we are working on is right, the type of you are working smart with the right system unlike when you are working hard but your not working smart.
It really depends on the person, but financial stability is all about your financial aspects, no matter what your health issues are. If you have that money, then you are stable, but the problem really is that you are not in good health. This is really the common problem when it comes to money. People tend to work hard while sacrificing their health, which is true as I am doing it now. I think you really need to sacrifice something if you want to earn more.
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I think side jobs are very necessary, I feel it myself.
Yes, it can be for some people, but it's not really necessary for everyone. There are people who are earning a huge amount of income in either their own company, their own business, or the private company they are working for. I have this guy who is earning above $2000 per month in the oil and gas company where he works; he is working from Monday to Friday, from 7:30 a.m. to 4:00 p.m., and there are still some other tips that the company gives him. Some months he accounts for $2800 max, and with the kind of job he has, he doesn't even have time to do any other side jobs, and he doesn't see that it is necessary for him to have any side hustles because his current job is well-paying and the payment is sustainable for him. That was the reason why I said that, in some cases, a side job is not necessary.
~ snip ~
So I figured since that is something that is already "common sense", it shouldn't be challenged per se when I'm talking about money-over-effort variation.
Um... alright, I'm starting to grasp your point. I greatly appreciate differing opinions as they broaden my perspective according to each individual's principles. So I figured since that is something that is already "common sense", it shouldn't be challenged per se when I'm talking about money-over-effort variation.
So, what would you do if at some point you really wanted to have a side job, but the ones available don't meet your salary expectations? Would you choose not to take any of them and instead focus on resting during your free time?
In certain situations, there's a scarcity of creativity among people, making it incredibly challenging to find a side job that aligns with the 'money-over-effort variation' standard.
Now, check your main job's hourly rate. If it's 50% or higher, then you have a pretty solid side-job and I suggest you keep it. Anything below 50% to me is a complete waste of time and shouldn't be pursued, cause you could be using that time to work for more valuable ventures and you're wasting it over a side-hustle that pays you peanuts.
There should be tolerance for side jobs related to our hobbies, even if the income from them is below 50% compared to our main job.For instance, imagine a person who works exhausting 8-hour shifts during the day. When they return home, they enjoy playing a game that allows them to earn money by live streaming and promoting the game. They find pleasure in their hobby and receive payment for their live streams.
Is it wrong to be someone who lives a more relaxed life while enjoying their youth?
In any case, I agree with you guys. Personally, I think a stress-free hobby/side hustle is imperative, just as a good-paying side hustle. But I'd like to interpolate that things like this, are things that you should've considered right from the moment you decided you have to take that extra income stream. You wouldn't really take up another job that's stressing the fuck out of you that you'd be much better off just keeping a single job and retaining what little sanity that was left of you. So I figured since that is something that is already "common sense", it shouldn't be challenged per se when I'm talking about money-over-effort variation.
As for Slapper, you got a point, life's great and a fat bank account won't beat a peaceful and actualized life. But the main point of the post and this thread is how having a second-job/side gig's going to help you gain that financial stability which is arguably just as important as having a good life, won't you agree? Can't be having fun when you're worrying bout what to eat tomorrow, or where to get the money you'd pay your bills with, am I right? Doesn't really instill a sense of calm that way.
Maybe for others it improves financial stability, but for me it depends on the strategy that the individual does, for example you are working hard, but you neglect your own health and you are also stressed, I think it does not help financial stability.
I can only say that it is stable if the system we are working on is right, the type of you are working smart with the right system unlike when you are working hard but your not working smart.
I can only say that it is stable if the system we are working on is right, the type of you are working smart with the right system unlike when you are working hard but your not working smart.
If you are a government worker or self-employed in terms of increasing the additional cost of living for your family, I'm sure you will take these steps to maintain financial stability. there is also a burden from us who must be lacking rest and tired. but it pays off if what we try goes according to what we mean. yes. money from working part time on the internet when you answer when asked by your children.
I don't think it is necessary to tell your children where you get money from on a daily basis, although it is also not wrong if you yourself have the initiative to tell each of them to be children. Because what I found in my environment, it's very rare for children to ask their fathers like that and most of the children don't want to know where their father gets money on a daily basis. But I think it's also very natural for a child because it's not time for him to think about that other than continuing to study and go to school as usual. 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 ?
If you are a government worker or self-employed in terms of increasing the additional cost of living for your family, I'm sure you will take these steps to maintain financial stability. there is also a burden from us who must be lacking rest and tired. but it pays off if what we try goes according to what we mean. yes. money from working part time on the internet when you answer when asked by your children.
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