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

[kay169]

No ! In life nothing is guaranteed it’s always good to have an extra or back up rather incase of future occurrences and predicament but then again don’t over stress yourself !

 

[uforwealth]

Relying on only one source of income is a very bad Idea. This is what is negatively affecting my country , Nigeria. Nigeria has crude oil as her only major source of revenue.

 

[Salimo]

No ! In life nothing is guaranteed it’s always good to have an extra or back up rather incase of future occurrences and predicament but then again don’t over stress yourself !

Yes an extra source is always good but sometimes one source of income is better than ten sources , so for me one good source is better than stress yourself .

 

[Josemendez]

I agree with you, but we just have to leave our comfort zones at times and then more opportunities would present in the long run where we Didn't expect.

Living our comfort zone is actually the best way to start. And people have to understand that all they need is to start gradually and with time they will get to the top

 

[eLdavis]

I have said it before, and i will keep on saying it. The biggest mistake one can make is to rely on just one source of income. If anything goes wrong with that source it means you would be stranded. Multiple sources of income brings in more profits as well.

 

[Blessingedidiong]

Having only one source of income is not so good. It is very risky for the business as it will incur debts for the business. If having one source of income is what a person can afford for the time being,the person should try to place himself on a monthly salary so as not to tamper with the business funds. The person who also be disciplined in spending.

 

[chumbak]

I never trusted on one source since I came to know about the online earnings and with experience gained few things like we shouldn't sue all our free time on a single website too and should divide our time properly and never spend all the time on single website even if they are paying $1 per hour because that can be temporary and they may scam anytime.

 

[Ralphjoe]

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

It is never a good idea for one to rely on one source of income because one relying on a source of income for his daily up keep would spell disaster as that person may not be able to sustain himself with one source of income so it is good for one to always have multiple sources of income.

 

[Kelly5]

Relying on one and only a single source of income may not really be a smart move or idea for anybody to practice or do. If something goes wrong with this source, what then?

 

[Salimo]

Relying on one and only a single source of income may not really be a smart move or idea for anybody to practice or do. If something goes wrong with this source, what then?

Yes you are right at this point , so if something wrong happen in work and we lose job we will spend days without income , then we should have a project .

 

[Niftyyem]

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?

Even when the salary is huge, it is not advisable to depend on just a source of income. A side business or even investments is better in case of any unforeseen issues.

 

[Emmy]

I knew who I was when I relied on one income but when I add online income to it, I also know who I am. Therefore there's a big difference when you rely on one income. It's a big mistake ever.

 

[Lens]

In my country, depending on a single source as an income isn't enough because of high inflation rate. Most especially for a family man, you've got to have more than two jobs if possible. To foot Bill's isn't easy in Nigeria

 

[Salimo]

If you have a huge salary it is easy then to create new sources of income by investing them on many projects or online platforms too , that's why all rich people have many sources of income .

 

[Setho]

No matter how a good and easy a business idea looks you should not put all your eggs in one basket and instead you should diversify them accordingly.

 

[Shigobad20201]

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 this era and generation depending on just only one source of income is not a good thing to do for someone who is not well established, it's better to have at least two seperate business.

 

[Chibson]

It is always very advisable for people to create multiple streams of income for themselves. There are times where someone can be fired from work and he will not see what the depend on.

 

[BrolySSJ]

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 that can be quite hard because if something had to happen to stop that source of income there is nothing to fall back on. It is always best to have two sources of income or at the very least a back up plan.

 

[Salimo]

If you have a huge salary it is easy then to create new sources of income by investing them on many projects or online platforms too , that's why all rich people have many sources of income .

But poor people they struggle a lot to get only one source of income and it is much difficult for them to get even one source , but many people succeed to do that though .

 

[Snazzy001]

I would like to ask you a little question, what will you do if this single source of income of yours vanishes, would you like the situation you will put yourself into a?