Is it good to rely on a single source of income?

[Bookwormlux1]

Money is needed to meet the needs of every home. There are people who only rely on their salaries as the only source of income. If the government doesn't pay, they don't have any other way of making money.
Is it good to have only one source of income?

 

[Sariana23]

It is not good to depend on a single salary, in my case and in almost all of my country you cannot survive that way, you have to look for a second and even a third income. Now when you are an entrepreneur who is economically comfortable and a person with high positions will not need another input of money.

 

[Nosheen Rakhshandha]

In our country each and everything peices are raising day by day so everybody has to meet their expenses that's why everybody is looking for part time job to run their family life a d for themselves as well

 

[btaliat]

Money is needed to meet the needs of every home. There are people who only rely on their salaries as the only source of income. If the government doesn't pay, they don't have any other way of making money.
Is it good to have only one source of income?

No matter the pay, it is not always good and advisable to be depending on one source of income. Anything can happen to the source. Man should always have backup plan and prepare for the worst while expecting the best.

 

[Donkiz]

Relying on a single source of income is a disaster waiting to happen, if anything happens to that source of income you become helpless. The best thing anyone can do for himself/herself is to try as much as possible is have more than one source of income in other to live a more productive life.

 

[Bilal0087]

Money is needed to meet the needs of every home. There are people who only rely on their salaries as the only source of income. If the government doesn't pay, they don't have any other way of making money.
Is it good to have only one source of income?

In the current world, without money there is no life, if you have a strong and high profit yielding business then you can rely on it but if its earning is low then definitely you should start another business to get more money.

 

[chalcedony8]

When I was a kid i was told by my parents to always put my effort in all I find myself doing, they said all that is it's not one thing, I believe as long as a person has the strength he or she shouldn't rely on one source of income

 

[Tunnexisco]

Money is needed to meet the needs of every home. There are people who only rely on their salaries as the only source of income. If the government doesn't pay, they don't have any other way of making money.
Is it good to have only one source of income?

My candid response to this is No, I believed having a single source of income to is just the same as having a car that is meant to embark on an unknown destination without a spear tire, you know eventually if anything happens to one of the tires on the road where there is no one to help, the situation of things may get out of control. Hence, having a plan "B" in life is very important to serve as a back born or alternative which we can fall back to should in case any thing happens suddenly in the long run. Having other source of income in this modern world is highly Germain to stand the test of time and be buoyant enough to compete with some basic numerous endeavors of life.

 

[Naz Noshin]

Money is needed to meet the needs of every home. There are people who only rely on their salaries as the only source of income. If the government doesn't pay, they don't have any other way of making money.
Is it good to have only one source of income?

If a person has extra time the he didn't rely on single salary. He should start part time job. Because it's difficult to lead a contended life with one source of payment. If a person doesn't have time ,then it is his luck.

 

[Hasan Raza]

Money is needed to meet the needs of every home. There are people who only rely on their salaries as the only source of income. If the government doesn't pay, they don't have any other way of making money.
Is it good to have only one source of income?

It's a good point indeed. Surely most of the people just rely on salary given by government but i suggest that there must be more than one mode of income that if there is any problem in one then the other mode of income should be adopted to meet the expense of yourself and the family also.

 

[Tariq Shehzad]

Money is needed to meet the needs of every home. There are people who only rely on their salaries as the only source of income. If the government doesn't pay, they don't have any other way of making money.
Is it good to have only one source of income?

I think it is some difficult to only a single sources of In com as we need for every thing, so it should be many sources of income.
I am doing a Government job, but that is not enough for me. So, I am doing online jobs as a part time job.

 

[OtuyemiJoshua1234]

In a country where poverty is an anthem and turns to a song no body will tell you multiple job is necessary when the time of needs arise there is no security in a job, even a high paying one. Be smart and don’t rely on just one source of income”- Ray Higdon. One of the wisest millionaires in the world, Warren Buffet, said: “Never depend on a single income.”

 

[Presido]

It is not good to rely on one source of income, it's very risky because the source can crash or be blocked through some financial and economical problems, you'll find it difficult to get over it

 

[Olajidey]

Riskier than you can ever imagine.

But it all comes down to this,
inasmuch as it is very good to have multiple streams of income.
It is very best to have multiple streams of passive income as they
can guarantee you financial independence without sweat and much energy exertion.

Thanks.

 

[Holluwaphemmy]

It is not advisable to rely solely on a source of income. If you want your business or investment to thrive please have more than one source of income so that if one crash you can easily make profits from the other

 

[Claraviolet]

I am sure it's not a good idea to rely on a single source but if it's a stable source, then it should be fine.
Usually I never experienced any salary cut until now. Well, I work in a large organization and I highly doubt they would ever do that. From my side, I need to learn new technologies to make sure, they wouldn't consider cutting me off.

Still, it's better to have other sources as well, as the salary is not all that much.

 

[Damismiling]

Multiple streams of income is the best, you must have up to 4 businesses generating income for you, a breakdown in one will not totally break you down however, proper management must be put in place

 

[salman Royy]

Yes, there should be a source of income if there is a source of income So life goes on comfortably. Income drives household expenses If there is no source of income, household expenses will not run. Therefore, it is important to have a source of income so that our every need can be met.

 

[chalcedony8]

Relying on one source of income is not a very good idea, as long as you have the chance and opportunity to get another job and both is not affecting each other, you have nothing to loose, just go for it, at least you will still have one if another one fails

 

[Kamon c4]

Depending on one source of income is not good and put you at the risk if there’s any issue on your source of income. Moreover one source of income can’t cover your expenses, you need to have a business or anything that’ll generate passive income.