Does a side job/business improve your finanical stability ? - page 8.

xSkylarx

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Quote from: og kush420 on April 23, 2023, 07:59:33 PM

Quote from: Farma on April 22, 2023, 11:49:35 PM

Quote from: KiaKia on April 20, 2023, 01:25:19 PM

Yes and No, it depends on how much this side job is fetching you, some side jobs are for extra money and they are not much and some are so good that you can be able to invest using such money.

I don't like side jobs because you are still going to work under someone, I won't expect anything great or life changing from this, it will be good if you can learn a skill that's not going away any time soon, a skill that will last you for a very long term, for example, I.T specialist.

Your life starts changing the moment money starts flowing into your bank account from different sources of income, a good side job or business can be very handy for a grown up man.

I think side jobs don't just refer to working under someone. however, developing a business is also included in a side job. However, the aim of side jobs is to increase income which leads to improvement and stability of one's finances. many people seek and develop their side job, then leave their main job because the side job has a bigger income. However, I think people who have second jobs or businesses have a goal of improving their finances.

you have got a point here the best approach to life is to have your own small side business till the time you dont have investment

It is still depends on the someone preference because not all can start small business as there are no capital and difficult to run it without any knowledge but it is really best because it would be passive income in the future if your business will be successful but for now if you have like family to feed and if you take risk to start a business and then it wont be successful both of you and your family are at risk.

Pamadar

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Quote from: cydrix on April 23, 2023, 12:00:58 PM

To complement a full-time job, it's always a good idea to have a side gig. Trading cryptocurrency or forex, especially during a bearish run, is a good alternative, but combining the two will take a lot of time. Investing in cryptocurrencies, especially during a bearish run, is another good option, though it is better for a long-term perspective that can guarantee a reasonable profit, setting up a side gig.

If your timing is right and you fully understand what you need to do to ride along with the market, the chance is good for you to make some earnings inside this venue of investment.

Side job or any available venue to earn extra may allow you to improve your financial capability, but it's in need
for you in also budget yourself and try saving and not to overspend your extra earnings.

It's on you, if how you will manage your extra income, more on self-control and wise choices of investment.

nesty

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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 ?

Everyone of us needs to work to make a living. A regular job now a days is not sufficient to sustain our family's daily needs because of global economic crisis the goods prices surge up that affects our daily budget. Not only the goods but also the tuition fees of the kids, medical needs etc. That is why it is necessary to have a business and other sidelines to cover up our daily needs. Lucky enough if you could still save some for investments even if the budget is too tight. We need to work double time so that our family's could live a comfortable life.

og kush420

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Quote from: Farma on April 22, 2023, 11:49:35 PM

Quote from: KiaKia on April 20, 2023, 01:25:19 PM

Yes and No, it depends on how much this side job is fetching you, some side jobs are for extra money and they are not much and some are so good that you can be able to invest using such money.

I don't like side jobs because you are still going to work under someone, I won't expect anything great or life changing from this, it will be good if you can learn a skill that's not going away any time soon, a skill that will last you for a very long term, for example, I.T specialist.

Your life starts changing the moment money starts flowing into your bank account from different sources of income, a good side job or business can be very handy for a grown up man.

I think side jobs don't just refer to working under someone. however, developing a business is also included in a side job. However, the aim of side jobs is to increase income which leads to improvement and stability of one's finances. many people seek and develop their side job, then leave their main job because the side job has a bigger income. However, I think people who have second jobs or businesses have a goal of improving their finances.

you have got a point here the best approach to life is to have your own small side business till the time you dont have investment

Fortify

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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 ?

It seems kinda obvious that a side business would be useful to your financial stability, as long as you manage it well enough to determine whether it is profitable. That is surprisingly overlooked by many people who go into business blindly without figuring out all the costs, you probably want a decent margin in there and not just to be scraping a profit (which can easily get lost in small deductables like fuel to drop off parcels or stationary costs which might be overlooked in calculations). It can also help to build a structure and routine, which is missing from some peoples lives and can actually be very beneficial for people. It teaches new skills and involves some innovative thinking most of the time, so generally a side business will be helpful.

DoverDoane

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unfortunately making a business is not as easy as we think, because it is not easy and has many competitors, and of course it is advisable to learn from someone who runs a business.
you can do it yourself but it will be harder because you start without having any knowledge of it.

For side jobs, you can go through a web freelancer, it doesn't have to be a physical or offline business, you can run it online now, and a lot can be done from the skills we master, of course, it will be successful if you are diligent and consistent to do your best for getting clients and gaining their trust, and like a snowball you just have to look for the opportunity actually, in fact I've seen many people who can earn tens of thousands of dollars just by doing their freelance work.

cydrix

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To complement a full-time job, it's always a good idea to have a side gig. Trading cryptocurrency or forex, especially during a bearish run, is a good alternative, but combining the two will take a lot of time. Investing in cryptocurrencies, especially during a bearish run, is another good option, though it is better for a long-term perspective that can guarantee a reasonable profit, setting up a side gig.

laurenB7742

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unfortunately making a business is not as easy as we think, because it is not easy and has many competitors, and of course it is advisable to learn from someone who runs a business.
you can do it yourself but it will be harder because you start without having any knowledge of it.

A side job doesn't have to be a business. If you do not have the ability to do business or do not like business, you can choose another job to increase your income besides the main job. Like me, in addition to my main job, I spend the rest of my time on online sales, I also spend part of my time researching and investing in crypto and forex. It is also called a side job, and sometimes it gives me a better income than my main job. But I can't give up my main job, even though the income is low, it's more stable and regular than my side job. With a life full of difficulties like today, we should have at least 2 jobs to ensure our lives.

YinShuiSiYuan

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Quote from: Lantind on April 23, 2023, 08:36:50 AM

Quote from: ichsan ardi on April 20, 2023, 06:54:23 AM

In my opinion, we can't rely on one permanent job, we have to have a side business, even though the business is not much, sometimes it's the side business that helps with stability, because we have backup money, we don't know in the future, who knows, we might be fired suddenly, make our side business cash flow that can help stabilize our finances

Maybe there is also someone who does that side job to get a little more income, both to meet their minimal needs, and there is also someone to use as a reserve income or savings in the form of their savings, because basically we won't know what will happen in the future, one of them loses the job mentioned.

Can't say about job but business will definitely help you to grow and improve your financial condition. As we know about ongoing inflation and difficult finances the extra income is the one that can keep you alive and help you to enjoy life a little .

Lantind

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Quote from: ichsan ardi on April 20, 2023, 06:54:23 AM

In my opinion, we can't rely on one permanent job, we have to have a side business, even though the business is not much, sometimes it's the side business that helps with stability, because we have backup money, we don't know in the future, who knows, we might be fired suddenly, make our side business cash flow that can help stabilize our finances

Maybe there is also someone who does that side job to get a little more income, both to meet their minimal needs, and there is also someone to use as a reserve income or savings in the form of their savings, because basically we won't know what will happen in the future, one of them loses the job mentioned.

Pamadar

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Quote from: Farma on April 22, 2023, 11:49:35 PM

Quote from: KiaKia on April 20, 2023, 01:25:19 PM

Yes and No, it depends on how much this side job is fetching you, some side jobs are for extra money and they are not much and some are so good that you can be able to invest using such money.

I don't like side jobs because you are still going to work under someone, I won't expect anything great or life changing from this, it will be good if you can learn a skill that's not going away any time soon, a skill that will last you for a very long term, for example, I.T specialist.

Your life starts changing the moment money starts flowing into your bank account from different sources of income, a good side job or business can be very handy for a grown up man.

I think side jobs don't just refer to working under someone. however, developing a business is also included in a side job. However, the aim of side jobs is to increase income which leads to improvement and stability of one's finances. many people seek and develop their side job, then leave their main job because the side job has a bigger income. However, I think people who have second jobs or businesses have a goal of improving their finances.

It includes small business. Side hustle gives you an additional way of earning money, with this kind of capability, then for sure you'll be able to have a good state in terms of financial capability.

If you desire to be financial freedom, then having a side job or business can give you that luxury, and I agree with
what you mentioned, some did leave their main job when they find good success with their side hustle.

Tony116

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Quote from: Sayeds56 on April 20, 2023, 09:21:00 AM

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 ?

You are absolutely right that It is important to have diversified income streams to achieve financial stability in the long term. Doing a side job beside your regular one s a good idea to increase income to meet with growing cost of living due to rising inflation. However, it is equally important to save some money from your income and invest it financial instruments like stocks & Bitcoin in long term to yield significant potential benefits in future.This approach can be highly beneficial in achieving financial stability. DYOR

Side work is necessary if we have a lot of time left after finishing the main job for the day. But it will not be the optimal solution to a better life, savings and investments are essential if we want to improve our own economy in the long run. We will eventually age, work productivity will decrease with age, and only investments that generate passive income will help us cope with the difficulties of old age.
When we are young, we try to work hard and accumulate as much savings as possible, moreover, we need to invest in increasing our wealth, and I also suggest we should choose bitcoin as a solution.

EdenHazard

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Quote from: KiaKia on April 20, 2023, 01:25:19 PM

Yes and No, it depends on how much this side job is fetching you, some side jobs are for extra money and they are not much and some are so good that you can be able to invest using such money.

I don't like side jobs because you are still going to work under someone, I won't expect anything great or life changing from this, it will be good if you can learn a skill that's not going away any time soon, a skill that will last you for a very long term, for example, I.T specialist.

Your life starts changing the moment money starts flowing into your bank account from different sources of income, a good side job or business can be very handy for a grown up man.

Well yeah , when you have a single job or a single business that covered your whole life expenses + extra needs ... i can't see any urgency to have an extra side job or additional business right? Unless if you really think that it's not enough which yeah probably most people would think always that way.

Once again yeah it's depends ... we might have different point of views as well .

reizella28

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It could increase your chances to be financial stable if you have part time jobs that could support literally all of your bills and payments. I still think it's still depends on the person taking the job, if they always spend their money into unnecessary things it wouldn't results to financial stable it will just lead to long term job for you to provide your needs. If you aim to save and invest from those jobs then for sure in the future the worker could be financially stable in the future, there's no guarantee in investment there's still a risk however it's much better than doing spending to not useful things.

puloweh555

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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 ?

Increasing your income and having multiple sources of income can indeed help increase your financial stability rather than relying on just one source of income. However, choosing a side job must be done wisely. And I think now you can take advantage of the internet space as a side job because it can provide enormous opportunities for your side job, one of which is to take advantage of this forum.

You also have to make sure that the side job won't interfere with your main job and you can still provide the focus and productivity needed at your main job. If your side job continues to grow and is making you more money than your main job, then considering focusing on a side job could be a good option. However, make sure you have weighed the risks associated with relying on one main source of income and have a backup plan in case something should happen to your side job.

Finally, remember that the key to getting rich is not only to make more money, but to keep your spending wise, invest smart, and develop healthy financial habits.

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Quote from: KiaKia on April 20, 2023, 01:25:19 PM

Yes and No, it depends on how much this side job is fetching you, some side jobs are for extra money and they are not much and some are so good that you can be able to invest using such money.

I don't like side jobs because you are still going to work under someone, I won't expect anything great or life changing from this, it will be good if you can learn a skill that's not going away any time soon, a skill that will last you for a very long term, for example, I.T specialist.

Your life starts changing the moment money starts flowing into your bank account from different sources of income, a good side job or business can be very handy for a grown up man.

I think side jobs don't just refer to working under someone. however, developing a business is also included in a side job. However, the aim of side jobs is to increase income which leads to improvement and stability of one's finances. many people seek and develop their side job, then leave their main job because the side job has a bigger income. However, I think people who have second jobs or businesses have a goal of improving their finances.

og kush420

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Quote from: Yuray Borushko on April 16, 2023, 01:17:17 AM

I personally, that financial stability is definitely a concern for many people these days, especially with the global economic downturn. To ensure my financial stability despite all the unfavorable circumstances, I suggest taking a few steps:

First, focus on building an emergency fund that can cover at least 3-6 months of living expenses. This can provide a safety net in the event of a job loss or other unforeseen event. I mean, it's always better to be prepared for the worst, right?

Next, consider diversifying my sources of income. This might include finding a second job or starting a small business, as you mentioned. While it does take time and effort, it can also provide more financial security in the long run. Plus, it can help develop new skills and open up new opportunities.

Lastly, I think it's important to continue to invest in yourself through education and skills development. As the job market becomes more competitive, having unique skills can make you stand out to potential employers or even help you start your own business.

you are so right - even our income has increased, our expenses also has increased so much
One needs to cut down all the unnecessary expenses to meet their ends.

mm2543363580

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Definitely a side business or job will help you financially and will lift you up among others . If your business is profitable and its helping you to grow that means you are doing good . In today's time where everyone is facing problems of inflation and crisis some extra income and money can help you alot .

KiaKia

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Yes and No, it depends on how much this side job is fetching you, some side jobs are for extra money and they are not much and some are so good that you can be able to invest using such money.

I don't like side jobs because you are still going to work under someone, I won't expect anything great or life changing from this, it will be good if you can learn a skill that's not going away any time soon, a skill that will last you for a very long term, for example, I.T specialist.

Your life starts changing the moment money starts flowing into your bank account from different sources of income, a good side job or business can be very handy for a grown up man.

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Quote from: Dzwaafu11 on April 20, 2023, 07:40:50 AM

Even if it's difficult to be financially secure, the majority of forum users have other jobs that they pursue in addition to using the forum as a source of income. As a result, you cannot rely solely on your job to achieve financial stability you need another thing to do to live good life and get all your necessary things.
When you plan well, finding a side job won't be a problem. All you need to do is set aside time for everything; don't try to accomplish everything at once. Find time for yourself to relax, unwind, and have fun. Only then will you be able to tell if you are making money.

You are right. because after all we also have to have a special time to enjoy every achievement that we have successfully achieved. And having additional income from working on the side is not bad even I can say that it will be able to make our financial stability more secure than just relying on one source of income. but of course we also must not forget the time to rest to maintain our health. because one of the most valuable assets in life is health.

Topic: Does a side job/business improve your finanical stability ? - page 8. (Read 3287 times)