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

[Pauljonnes1000]

A single source of income could be a problem. It is not good at all. We have to find other ways to make money available to ourself. And it will provide a relief to our financial responsibility.

 

[Georgeadawara1]

Depending on a single or p e source of income it not a good idea the aspects of depending on a single source of income it may fail you one day and that can take you to a zero level. It is good to have at least two to three source of income as a man because tou can be earning form all directions. Depending on one source business or single source of income is not the best.

 

[Popular]

When you have the income is good to go for double source income so that you can have much profits and then help orders to rise from your company.

 

[solomonmali]

loved this post! You’re definitely right that you should never place all your eggs in one basket. I’m new in the world of online business and monetizing my blog. I never intended to focus on earning the bulk of my revenue from affiliate links. Diversification is clearly so important and I have a feeling the ability to diversify will mean a lot in the years to come.

 

[Usama Iqbal]

To depend on a single salary I think it is not good. You should start an other source of income. In my country there are many people who getting income from many sources. If you have ability and knowledge about the investment then it will be very good idea. You can Investment on any business and get profit.

 

[Oluwaseyifunmi]

The answer to the question you asked that is it good to rely single source of income is no because when you rely on a single source of income you will not be able to cover for all your bills and it is risky because anything can go wrong in a business

 

[McIrx]

Relying on a single source of income is like putting all your eggs in one basket. If the basket falls you're left with no eggs. If you want peace of mind, diversify!

 

[Dery]

Definitely not. It's not a good idea that all your eggs are in one basket. No matter how much the single source pays, I will still have to find ways of generating income from other sources. Especially passive sources. They are the best.

 

[Good-Person]

It is definitely not wise to depend on only one source of income. You never know what will happen in the future. Unfortuantely, due to limited earning opportunities, many people are indeed dependent on a single source of income and they have no other option. People do not have a choice as they are not able to create opportunities for themselves.

 

[Victor001]

It's not good honestly,today I am still struggling to make ends meet because I used my whole investment for a particular product. And when the product went haywire,I was at the loosing end.
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It's not good honestly,today I am still struggling to make ends meet because I used my whole investment for a particular product. And when the product went haywire,I was at the loosing end.

 

[Ayokex]

It depends on how sustainable the source of income but notwithstanding it is not a safe financial management. Anything can happen to that lone source of income at any time and can cause a devastating effect on owners finance.

 

[nimzy]

If my advice will be considered then it is advisable not to rely on one or single business because it can affect you when ever there is a breakdown or short of income but if you deal with a number of business either 2 then you can manage your self even if one fails.

 

[Good-Person]

If my advice will be considered then it is advisable not to rely on one or single business because it can affect you when ever there is a breakdown or short of income but if you deal with a number of business either 2 then you can manage your self even if one fails.

You areright but the main problem is that there are not many opportunities available and people have to rely on one or two sources of income. Usually, people do rely on one source of income in my country. For example, I have to rely on online money making opportunites and I rely on a couple of websites to make me money. It is a sad truth, actually.

 

[Chibson]

No matter the kind of business you do or the kind of job you do, it is not advisable to depend on one source of income. I have seen people who are rich and became poor because they depended on one source of income.

 

[Setfragil]

In this modern day of enormous responsibilities, it is not good to rely on a single source of income for survival. Relying on a single source of income is like moving around with one kidney, when it collapses that is the end. We should work towards having multiple streams of income for backup.

 

[Sariana23]

The answer to the question you asked that is it good to rely single source of income is no because when you rely on a single source of income you will not be able to cover for all your bills and it is risky because anything can go wrong in a business

That's right, things can go wrong somehow and you may be left owing bills and not cover the necessary expenses. It is better and more reliable to have a double entry of money which will give more tranquility, because if one of the two entries fails, you will have the other one to comply.

 

[Eodine]

We must have or seen that most of the greatest men or richest men have several stream of income but it depends on your satisfaction, if you want more get another stream of income.

 

[Salimo]

Yes if you have huge income as minister so why not ? But for us things are very different we earn only pennies either online and offline .

 

[Kelly5]

It may not be really ideal for someone to be relying on a single source of income if that source is not a reliable source. But if the source is solid enough, then you can rely on it and make the best on income out of it

 

[Salimo]

It may not be really ideal for someone to be relying on a single source of income if that source is not a reliable source. But if the source is solid enough, then you can rely on it and make the best on income out of it

Yes sometimes one source of income is better than millions of sources , just imagine some jobs and their salaries you can't challenge lol .