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

[Mernuel]

For me, relying on a single income is okay, but when there are open doors for income from other sources, I'd ad vice one to go for them as long as he or she can keep up and manage time wisely

 

[Funky]

There would always be expenses and unexpected bills which is why one single source of income is not advisable as you get stuck with one salary.

 

[Shigobad20201]

There would always be expenses and unexpected bills which is why one single source of income is not advisable as you get stuck with one salary.

Even the federal government workers also have their side business they also do when they get back from work and anything an happen, that's why we need at least two business just to secure our future.

 

[babdud02]

Well it’s not good to rely on one thing but there’s no anybody that also want to remain in one place maybe there’s no just opportunities for them like it’s for some people

 

[Fizzy_boi]

Actually its not good especially in this country where state of things aren't alright at all.Cost of maintenance and living is high and you need to cater for your family and you need to pay some essential bills.

 

[Snazzy001]

It is not good at all and I advise us all to have various sources of income, because one can be important at the same time when the other one is failing

 

[Salimo]

It is not good at all and I advise us all to have various sources of income, because one can be important at the same time when the other one is failing

Yes but it is not easy at all especially if the second source is a job too , so how could you manage your time between two jobs it will be easier if the second investment will be a succesful investment .

 

[Funky]

Even the federal government workers also have their side business they also do when they get back from work and anything an happen, that's why we need at least two business just to secure our future.

Most people are starting to know the advantage of side income since they would like to do something better to improve their standard of living

 

[Fizzy_boi]

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.

Yes exactly it can't cover the expenses of live the cost of living ,the feeding, amenities needed .One source of living can't definitely be sufficient for all this especially in a country like mine where things are hard.

 

[tyrim88]

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.

The essence of sustainable income generation is a function of contineous inflow of revenue,and most times relying on one source of income would make you not to acheive this.It is like putting all your eggs into one basket.Multiple stream is the way out.

 

[Salimo]

Most people are starting to know the advantage of side income since they would like to do something better to improve their standard of living

Exactly I am thinking seriousely how to raise those standards , it is of course by finding new sources of income and the secret is exploiting well our free time .

 

[Bookwormlux1]

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 .

For those who are unable to increase their earninng sources z they just have to work on being financially disciplined to not get bankrupt.

 

[Setfragil]

It is not good to depends on a single source of income should the business or job that generates the income fails, such person will suffer to survive to meet ends needs.

 

[Salimo]

For those who are unable to increase their earninng sources z they just have to work on being financially disciplined to not get bankrupt.

Yes that right not all people have same opportunities in life many people don't get any help from their parents because of poverty and some get everything they need in life .

 

[GIFTMICHAEL]

Real men have diverse options of earning money online, they don't put all their investment on a single basket they spread their arms.

 

[Melanie Marie]

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?

On dry land, (meaning on-site jobs) if the pay is stable, your hours are stable, and income is decent... then yeah, just stick with the one job.
But online, no.

 

[Jlife]

There is nothing wrong in relying on one single source of income, you have to understand that you must rely on the source of income that can never fail you no matter how bad the economy might be, you can depend on your business alone.

 

[Funky]

Exactly I am thinking seriousely how to raise those standards , it is of course by finding new sources of income and the secret is exploiting well our free time .

You have deligently stated what is expected to find a side hustle, paying attention to your free time, exploit, find what works for you and make money

 

[skyliequiz]

In today's economy, reliance on a single source of income is fundamentally not advisable. You may be setting yourself up for difficult financial times, longer periods of work until retirement, and, in some circumstances, utter financial collapse.

 

[Salimo]

You have deligently stated what is expected to find a side hustle, paying attention to your free time, exploit, find what works for you and make money

Yes of course and thanks of advice , and everyone of us should try many ways then stuck with those which work , it is all about counting profits regarding time spent for the job .