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

[Shigobad20201]

I supoort your motion , nowadays if you dont have a strong business that has a future , its not adviseable to have just one source of income because the the economy of the world is getting worse.

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.

 

[Kennysplash]

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

That means it's not okay to rely on a single source of income. Find every opportunity to diversify your source of income, find other yielding investments. You never know what might happen to your main source anytime.

 

[Hena101]

Relying on a single source of income is good because of many reason just look at how happened to many people when covid-19 come even those with more than single source of income suffered then think of those with single stream of income just try and get more source of income as much as possible.

 

[kayode10]

This is the biggest mistake a person can make in life how can you survive on one source of income with the way the standard of living keep rising by the day. Multiple streams of income is the way out of this economic mess we are facing around this.

 

[Funky]

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 .

And I also believe that with time when one gets accustomed to the various tasks required of one to make revenue then it would definitely get easier.

 

[eLdavis]

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.

Very true, mostly in this generation whereby everything has been so expensive. The cost of living has become so high as the price of things increase. It would be best to have multiple sources of income, this would help reduce the stress and be able to sort things out

 

[Salimo]

And I also believe that with time when one gets accustomed to the various tasks required of one to make revenue then it would definitely get easier.

Yes of course each day we get experienced more and more so as you described things become more easier with time and earnings will increase for sure .

 

[Peterlight]

It is a very dangerous decision to rely on one source of income because what if crashes, you will be done for and it won't be easy for you to move on if the source does not open again

 

[Bookwormlux1]

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.

Are there any such businesses that won't get affected no matter how bad the economy is? I really doubt as even crypto currencies get affected.

 

[Robust]

It is not really good to depend on one source of income if really you want to help your self, you need to invest on one or two things to get income in another way too.

 

[Alexandoy]

It is not really good to depend on one source of income if really you want to help your self, you need to invest on one or two things to get income in another way too.

Usually an employee has only 1 source of income which is his employment. That is one reason why a side job or a small business can be of help especially when there are problems in the job. Some friends have left their job to concentrate on their side business that is now the main source of income.

 

[Jlife]

Are there any such businesses that won't get affected no matter how bad the economy is? I really doubt as even crypto currencies get affected.

Cryptocurrency can only be affected with bad economy if the bad economy happen in the Western countries, but if this happened in Africa it doesn't even have any effect in the crypto system because the Western countries and china control cryptocurrencies.

 

[Salimo]

It is not really good to depend on one source of income if really you want to help your self, you need to invest on one or two things to get income in another way too.

Yes investment is a good option to create more sources of income but may be investment will be a way for losing money if we put it in wrong place .

 

[Funky]

Yes of course each day we get experienced more and more so as you described things become more easier with time and earnings will increase for sure .

That is a strategy I believe works, over time you get good at something and most likely get invited to do things or get another platform just like that one you can run too

 

[Salimo]

That is a strategy I believe works, over time you get good at something and most likely get invited to do things or get another platform just like that one you can run too

I was have a great difficulty to reach 1$ a day but now I reach it too easily and now I am eagar to get 2$ , I think this progression is due to expérience .

 

[Shigobad20201]

I was have a great difficulty to reach 1$ a day but now I reach it too easily and now I am eagar to get 2$ , I think this progression is due to expérience .

You are really progressing becaus you are gathering experience as you work but mind you time is of essence , I believe you are creating Time to work online too because you can't earn up to that if you are busy with offline business.

 

[Richard92]

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.

It is not good to depend on one source of income in a particular company one house to go to different stores in terms of getting income because most times they might be risk.

 

[Salimo]

You are really progressing becaus you are gathering experience as you work but mind you time is of essence , I believe you are creating Time to work online too because you can't earn up to that if you are busy with offline business.

Yes you're right with no time allocated to earn online we can't get the daily target we want to reach hopefully actually I have much time to work online ,

 

[Funky]

I was have a great difficulty to reach 1$ a day but now I reach it too easily and now I am eagar to get 2$ , I think this progression is due to expérience .

You are eager to get $2? Lol, you must really like money! But I do not think that it is feasible to make $2 on bizdustry except you merge with other sites.

 

[Chibson]

Relying on a single source of income is too bad and it may eventually lead to brokenness and in some cases it can make a very poor when you lose your only job.