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

[ahmedo24]

I won't rely on one single source of income even if I earn substantial amount of money I will strive to run a business and establish company where people can work and also earn a living . Development should be mutual.

 

[Pousinha]

Definitively not. It wasn't good even during my grandparents' times and those times weren't the today hired, tomorrow fired as nowadays happens. During my grandparents' times, welfare didn't exist at all and the least sickness was able to quickly throw into poverty entire families. And these events are not merely legacy of ancient times: countries like USA, lacking welfare, are bound to such circumstances. Unfortunately, when we lack skills, we end up being compelled to rely on a single salary because we have no other choice.

 

[Kiko]

Many have been unemployed or underemployed in the aftermath of the financial crisis. You would not invest by putting all your money into one stock. Certainly not if you have read my columns. If that investment stumbles, then you are in trouble. So you diversify your portfolio to reduce risk. Single points of failure make life scary, so why do we casually accept a single source of income? You never know when that source may falter. All of us have skills which can be used in many ways. For example, professionals often do project-based work. This lends itself to marketing yourself as the quality professional that you are.

 

[Halexcity]

Having one source of income can can be dangerous in the future because there is every tendency of suddenly short down or slow market so in regard to that u have to have your plan B

 

[Taimoor Jutt]

I think if you have an other option of income and not availing that one this is not good to rely on just 1 source of income. You should do an other if you can easily. Sometimes we are fed up by job so we want relaxation and do not want to opt for other job. Anyway it depends upon income.

 

[Khezo]

No matter what that job or business is giving you, it is never advisable to focus on one mode of income. Spread your net, check other aspects and invest in them . Just in case anything happens to the first

 

[Shigobad20201]

It is good to rely in a single source of income only if it is bringing a huge and favourable outcome, but if the outcome is low, its advisable not go rely on a single source cos it may dry up anytime

 

[Ridorz]

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.

It is not good at all to depends on a one source of income. If you are government worker you supposed to have another way that will be generating a money for you except the salary. Because, I believe that liability will be increasing and someone should think how to be increasing income generating.

 

[Neeta313]

We all dream of making it big in life, that stage where we can reach and be able to afford anything we want. Having only one source of income might not really get us to where we want to be. That's why some people who work, still have something they do on the side that generates money for them. Also job security is not guaranteed, so it's best to have multiple source of income.

 

[Smithkid]

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.

 

[Rashid]

It is only good when you are one source amd you are working hard and having good & reasonable income so you can rely on that. But if you have an option and ability to do another business or job easily, then it is not good to rely on only one source.

 

[Pattertwig21]

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?

Normally this is not enough, in my case, I need my other siblings' input on the family's expenses because it is really hard to shoulder all the family expenses on a single salary (we use to do this when my eldest sister has the only one who has a job back then, and our families earnings are so small from crops). We need more than one income to sustain daily living expenses.

 

[Waqas wajid]

I don't think the earnings of one servant is enough.The earnings of one servant entangle the whole house. In this day and age, every servant should come to work and fulfill his life easily. Every human being wants to know who has every facility of life.This is possible when everyone works

 

[QalabDogar1906]

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 you can manage with a single income source then it is good on other hand not manage in single source income then you should work for more income and earn extra money for your family dues that you can working for extra money.

 

[Sheun450]

Millions of people follow that path today, relying on a single source of income, but in today's economy, that approach is inherently flawed. If you follow it strictly, it could set you up for hard financial times, longer stretches of work before retirement and in some cases, total financial failure.

 

[Sad56]

Not too good to rely on just one source, but if you have not any other opportunity and not any other job to do, if you get enough salary then it is good to rely on such things but if all other things nit happening then you should try other resources

 

[Waseem74]

Millions of Americans follow that path today, relying on a single source of income, but in today's economy, that approach is inherently flawed. If you follow it strictly, it could set you up for hard financial times, longer stretches of work before retirement, and in some cases, total financial failure.

 

[Koredsman]

Relying on a source of income is like risking your lifeline on a single thing, anything can happen anytime, our needs and wants keep rising and bills needs to be settled here and there so depending on a single means of income and something big show, then you know is like you arent working at all

 

[Khizar iqbal]

There are more duties, everyone has to work.It is important for everyone to work, that is, the cost is covered and you can run a very good home.

 

[Irfanali]

Today, millions of Americans follow this path, relying on a single source of income, but in today's economic system, this approach is inherently flawed. If you follow it strictly, it can set you up time long