Does a side job/business improve your finanical stability ? - page 9.

DevilSlayer

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Quote from: Sayeds56 on April 20, 2023, 08:21:00 AM

Quote from: Marcellin9 on January 14, 2023, 01:00:22 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

Rich people have a lot of income streams and it is the reason why they have huge networth. They also advicing that we should be contended in just one source of income because it is really not enough, if you are working in a job that is considered as 8-5 job then sorry to say you will not achieve any financial freedom with that because rich people work for theirselves and not for somebody else. I have 5 sources of income and it also consist of 5 jobs and these are crypto trading, my small businesses, freelance, graphic designing and video editing. In this way I can expect that money will keep flowing in my cashflows instead of just having 1 income stream because it is considered as a risky especially if you lose your job. If you want to increase the money that you keep earning, you must increase your service and it is by having side job or creating a small business.

monineklutak

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Quote from: ichsan ardi on April 20, 2023, 05:54:23 AM

Quote from: Marcellin9 on January 14, 2023, 01:00:22 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 ?

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

It's true that the more sources of income, of course, it will be much better because we never know what will happen in the future,
but on the other hand not everyone has a side business which also requires new skills,
so it is also important to learn skills.

Sayeds56

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Quote from: Marcellin9 on January 14, 2023, 01:00:22 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

xSkylarx

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Quote from: Latviand on April 20, 2023, 06:28:54 AM

Quote from: YUriy1991 on April 19, 2023, 05:33:56 AM

Yes, having a second job or business can definitely increase anyone's financial stability by providing an additional source of income that definitely takes time, effort, and money. I think it is very important to weigh the potential benefits against the risks before making a decision. Diversifying your income streams can be a smart move to ensure financial stability and having a solid financial plan that includes saving, investing and managing debt. I think it's always wise to prepare for the worst while hoping for the best in any economic climate.

A second job that's full-time isn't the best way to go to financial stability, pretty sure that no one in this world are relentless and inexhaustible so it's almost close to impossible to do that kind of stuff maybe some can do it but the problem with that is they're slowly burning away their lifespan, they may not know it yet but it will catch up someday. My rule of thumb when it comes to this kind of stuff is make sure that you're second or third source of income shouldn't be as exhausting as your main job, a human needs to live and not just exist.

For sure, those healthy people who have like multiple side hustles or sources of income wouldn't mind their health, like they just take a lot of vitamins and still continue to do it. That is why other people will say that no matter how big your income is, if you are just making yourself sick, then it is better to have a low income than get health issues. Our selves are very important, but if ever you have a chance to have another source of income and just sacrifice some time, then it is good as long as it won't affect you or your family.

Dzwaafu11

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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.

Latviand

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Quote from: YUriy1991 on April 19, 2023, 05:33:56 AM

Yes, having a second job or business can definitely increase anyone's financial stability by providing an additional source of income that definitely takes time, effort, and money. I think it is very important to weigh the potential benefits against the risks before making a decision. Diversifying your income streams can be a smart move to ensure financial stability and having a solid financial plan that includes saving, investing and managing debt. I think it's always wise to prepare for the worst while hoping for the best in any economic climate.

A second job that's full-time isn't the best way to go to financial stability, pretty sure that no one in this world are relentless and inexhaustible so it's almost close to impossible to do that kind of stuff maybe some can do it but the problem with that is they're slowly burning away their lifespan, they may not know it yet but it will catch up someday. My rule of thumb when it comes to this kind of stuff is make sure that you're second or third source of income shouldn't be as exhausting as your main job, a human needs to live and not just exist.

ichsan ardi

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Quote from: Marcellin9 on January 14, 2023, 01:00:22 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 ?

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

YUriy1991

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Yes, having a second job or business can definitely increase anyone's financial stability by providing an additional source of income that definitely takes time, effort, and money. I think it is very important to weigh the potential benefits against the risks before making a decision. Diversifying your income streams can be a smart move to ensure financial stability and having a solid financial plan that includes saving, investing and managing debt. I think it's always wise to prepare for the worst while hoping for the best in any economic climate.

Marcellin9

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Quote from: kro55 on April 17, 2023, 11:02:19 PM

Quote from: xSkylarx on April 17, 2023, 08:09:33 PM

Quote from: BRINIRHA on April 17, 2023, 08:04:54 PM

Quote from: Pujangga on April 09, 2023, 04:21:03 AM

We can use a lot of spare time to earn extra income, I also do at least 3 side jobs and the results are quite good, apart from working in the office I also grow short-lived vegetables or fruits such as watermelons, melons, various vegetables, and also raise chickens even in small quantities.

To be able to get a side job or to earn extra income, of course, you need free time to do it. and it seems that you have not too many working hours so you can grow crops and raise livestock. and I think it's a pretty good type of extra income. Actually I sometimes do it in my spare time. but I only grow crops for consumption by the family only. and it can save my expenses a little for vegetable needs every day. for extra income I do it from the internet. because it can be done more flexibly and does not interfere with my business time. and it can indeed help our finances to be more stable.

If you dont have free time you will need to sacrifice things like shorten your sleep or getting relax. I know it is hard and not recommended as our health would deteriorate but that is the only way you can have a side hustle. I sacrifice those things, before i do have time for playing games in my PC but now due to my side hustle i need to give it up and also i sleep at late night but still dont forget to relax like get a good sleep like giving time with your self

There is no success without trade-offs. Although cutting back on sleep is not good for us, if we want more money, we have to do it. I can even only sleep 4 to 5 hours a day, and the other 20 hours I spend at work and taking care of the kids. Although quite tired and sometimes want to stop to rest, life does not allow it. I can fast for a day, but my children can't. And if I stop for a day, the next day, I still have to make up for today's work, so I never allow myself to take a day off.

Well, in the short run, sacrificing sleep or even health for money is not a serious problem but in the long run, this is not advisable. You implied you have to make more money for your kids (family) so I am sure you are a responsible man but what if you become ill due to the deprivation of enough sleep and ease ? Then you have to pay medical bills for a recovery and won't be able to take care of your family for a while. These are the hidden costs if we see the situation from the financial perspective. As we grow old, things we should priortize will be quite different than before. Anyway, please alway take care and wish you all the best.

nara1892

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Quote from: kro55 on April 17, 2023, 11:02:19 PM

There is no success without trade-offs. Although cutting back on sleep is not good for us, if we want more money, we have to do it. I can even only sleep 4 to 5 hours a day, and the other 20 hours I spend at work and taking care of the kids. Although quite tired and sometimes want to stop to rest, life does not allow it. I can fast for a day, but my children can't. And if I stop for a day, the next day, I still have to make up for today's work, so I never allow myself to take a day off.

Well basically this condition is actually quite reasonable because of course it comes back to the risks taken because if we really want something more then we also have to be able to sacrifice and when indeed our target is to make more money with a side job then inevitably our time will also be taken as compensation for that, but indeed when our goal is there actually I think it's quite worth it because indeed for a side job of course we have to adjust and when this happens it depends on how you divide the time later. Everything has its own process, but believe me, the process will not betray the results obtained.

Alpha Marine

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Quote from: Newlifebtc on April 03, 2023, 04:15:34 PM

it depends on the country that you find yourself getting job from government is very difficult because of the country we find ourself I believe but those people who works in government always benefit from it and before they will get retired define another option in order to replace their self through their love ones or family members it is the reason why scatter piece of work has been into existence or in total collection in some local countries that are not civilized

In some countries, the only advantage civil servants have is job security and pension. The salary is usually small and fixed. In this era where inflation, they suffer a lot. There is also the fact that in these countries, the government can owe its workers and nothing will happen. If you're from a developed country, working for the government can be a flex but in a lot of developing countries not so much. Retired workers are even owed their pension and gratuity in these countries. It's really sad and unbelievable but it's true. Also, due to how unorganized the system is, promotion doesn't happen the way it's supposed to. Most times it is just when the governor or whoever is in charge of the state remembers the workers.

kro55

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Quote from: xSkylarx on April 17, 2023, 08:09:33 PM

Quote from: BRINIRHA on April 17, 2023, 08:04:54 PM

Quote from: Pujangga on April 09, 2023, 04:21:03 AM

We can use a lot of spare time to earn extra income, I also do at least 3 side jobs and the results are quite good, apart from working in the office I also grow short-lived vegetables or fruits such as watermelons, melons, various vegetables, and also raise chickens even in small quantities.

To be able to get a side job or to earn extra income, of course, you need free time to do it. and it seems that you have not too many working hours so you can grow crops and raise livestock. and I think it's a pretty good type of extra income. Actually I sometimes do it in my spare time. but I only grow crops for consumption by the family only. and it can save my expenses a little for vegetable needs every day. for extra income I do it from the internet. because it can be done more flexibly and does not interfere with my business time. and it can indeed help our finances to be more stable.

If you dont have free time you will need to sacrifice things like shorten your sleep or getting relax. I know it is hard and not recommended as our health would deteriorate but that is the only way you can have a side hustle. I sacrifice those things, before i do have time for playing games in my PC but now due to my side hustle i need to give it up and also i sleep at late night but still dont forget to relax like get a good sleep like giving time with your self

There is no success without trade-offs. Although cutting back on sleep is not good for us, if we want more money, we have to do it. I can even only sleep 4 to 5 hours a day, and the other 20 hours I spend at work and taking care of the kids. Although quite tired and sometimes want to stop to rest, life does not allow it. I can fast for a day, but my children can't. And if I stop for a day, the next day, I still have to make up for today's work, so I never allow myself to take a day off.

xSkylarx

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Quote from: BRINIRHA on April 17, 2023, 08:04:54 PM

Quote from: Pujangga on April 09, 2023, 04:21:03 AM

We can use a lot of spare time to earn extra income, I also do at least 3 side jobs and the results are quite good, apart from working in the office I also grow short-lived vegetables or fruits such as watermelons, melons, various vegetables, and also raise chickens even in small quantities.

To be able to get a side job or to earn extra income, of course, you need free time to do it. and it seems that you have not too many working hours so you can grow crops and raise livestock. and I think it's a pretty good type of extra income. Actually I sometimes do it in my spare time. but I only grow crops for consumption by the family only. and it can save my expenses a little for vegetable needs every day. for extra income I do it from the internet. because it can be done more flexibly and does not interfere with my business time. and it can indeed help our finances to be more stable.

If you dont have free time you will need to sacrifice things like shorten your sleep or getting relax. I know it is hard and not recommended as our health would deteriorate but that is the only way you can have a side hustle. I sacrifice those things, before i do have time for playing games in my PC but now due to my side hustle i need to give it up and also i sleep at late night but still dont forget to relax like get a good sleep like giving time with your self

BRINIRHA

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Quote from: Pujangga on April 09, 2023, 04:21:03 AM

We can use a lot of spare time to earn extra income, I also do at least 3 side jobs and the results are quite good, apart from working in the office I also grow short-lived vegetables or fruits such as watermelons, melons, various vegetables, and also raise chickens even in small quantities.

To be able to get a side job or to earn extra income, of course, you need free time to do it. and it seems that you have not too many working hours so you can grow crops and raise livestock. and I think it's a pretty good type of extra income. Actually I sometimes do it in my spare time. but I only grow crops for consumption by the family only. and it can save my expenses a little for vegetable needs every day. for extra income I do it from the internet. because it can be done more flexibly and does not interfere with my business time. and it can indeed help our finances to be more stable.

jossiel

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Quote from: Pamadar on April 17, 2023, 06:56:20 AM

Quote from: Semar Mesem on April 11, 2023, 11:26:18 PM

A side job/business of course it can support our finances, for example I do a side job by being a home marketing and when I'm lucky I can get a big income, even 3 months ago I can sell my house and get a commission equivalent to 2 years if I work in an office.

If you got this kind of break, then it will really bring a decent amount of profits, and from what I understand, 2 years of your monthly expected salaries, a very huge side job which if you manage to invest that money,

There's a big chance that it can grow more and will be a big saving for you. It's really good to have
a side income that will help you to finance other expenses.

A commission type of job is worthwhile for those who have been earning from it. That's a tough job at the beginning but when you make connections and network then that will be an ease for your task of selling properties and things.

This is why this type of side job becomes full time for those realtors that have been earning a lot from their commission, they just can't ignore how much they can earn from it if they fully commit their times on it.

Pamadar

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Quote from: Semar Mesem on April 11, 2023, 11:26:18 PM

A side job/business of course it can support our finances, for example I do a side job by being a home marketing and when I'm lucky I can get a big income, even 3 months ago I can sell my house and get a commission equivalent to 2 years if I work in an office.

If you got this kind of break, then it will really bring a decent amount of profits, and from what I understand, 2 years of your monthly expected salaries, a very huge side job which if you manage to invest that money,

There's a big chance that it can grow more and will be a big saving for you. It's really good to have
a side income that will help you to finance other expenses.

Yuray Borushko

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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.

og kush420

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Quote from: andriarto on April 12, 2023, 12:02:31 AM

Quote from: RockBell on April 11, 2023, 10:06:21 AM

Quote from: Marcellin9 on January 14, 2023, 01:00:22 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 don't think there is any way to make money if we do not work or own a business, the challenge of getting a high paid job is getting more difficult as stated, and even the government is finding it difficult to create more jobs for people, and one thing has learned recently is don't relent in just one job you can get a job and also have a business alongside, this can improve your finance rather relying on just one source of income which is a very dangerous now that inflation is everywhere with a high standard of living and this is currently going on globally.

several sources of income will be better because they can support each other. just imagine if you only have 1 source of income, and finally get fired from the office where you work, so of course it will be more difficult for you to survive and stress will hit you. it's different if we have several sources of income, of course there will always be hope of getting money from other sources of work. therefore, in my opinion, a side job needs to be done, especially if it is in accordance with our hobbies, of course it will be more fun

I stared 3 business and all of them are lose - nothing worked for good.
I think i am not a business person and I think I should switch back to job

andriarto

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Quote from: RockBell on April 11, 2023, 10:06:21 AM

Quote from: Marcellin9 on January 14, 2023, 01:00:22 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 don't think there is any way to make money if we do not work or own a business, the challenge of getting a high paid job is getting more difficult as stated, and even the government is finding it difficult to create more jobs for people, and one thing has learned recently is don't relent in just one job you can get a job and also have a business alongside, this can improve your finance rather relying on just one source of income which is a very dangerous now that inflation is everywhere with a high standard of living and this is currently going on globally.

several sources of income will be better because they can support each other. just imagine if you only have 1 source of income, and finally get fired from the office where you work, so of course it will be more difficult for you to survive and stress will hit you. it's different if we have several sources of income, of course there will always be hope of getting money from other sources of work. therefore, in my opinion, a side job needs to be done, especially if it is in accordance with our hobbies, of course it will be more fun

Semar Mesem

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A side job/business of course it can support our finances, for example I do a side job by being a home marketing and when I'm lucky I can get a big income, even 3 months ago I can sell my house and get a commission equivalent to 2 years if I work in an office.

Topic: Does a side job/business improve your finanical stability ? - page 9. (Read 3451 times)