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

[Razor1911]

No It is not good to rely on a single source of income alone in this life. You should always learn to diversify your earnings to increase your chances for making more

Yeah, even one should not even ask this question. Anyone would tell that having multiple earning option is better. But same way, it is very tough to manage multiple business, you will need to have a vigilant eye.

 

[Ebro01]

It is a big risk for you to rely on a single source of income. Especially in Nigeria of today you don't put all your eggs in one basket. Many rich men like dangote make more money from different sources of income such as sugar,salt, cement,farm land,etc but a poor man with only one source can end up in poverty.

 

[joel1]

As the saying goes 'Do not put all your eggs in basket'.
Personally I encourage people not to rely on one source of income no matter the circumstances.

 

[Sotherefore]

No It is not good to rely on a single source of income alone in this life. You should always learn to diversify your earnings to increase your chances for making more

It is not the best to rely on one single source of income because it is not going to help you, having more than one source of income is the best especially in a country with dangerous and poor economy.

 

[Senator]

It widely known that it is a risky thing to be relying on one source of income alone. This is not how to live a financially stable and free type of life at all because anything an happen to that single source of income and you'll be stagnated

 

[Bousine123]

It is not a good thing for one to rely on a single source of Income at all. Even if this source of income seem to be very lucrative, you should have something by the side too

No bro, that is a part to financial stagnation. If possible, you should have up to 3 ways of getting money as an individual.

 

[akinlolu99]

No, it is not good at all in any form because no matter how much the business is paying you, anything can happen and when such happens it is best to have a backup in other to keep yourself going because in this life anything can happen and when such should ever happen what will one do then.

 

[Razor1911]

No, it is not good at all in any form because no matter how much the business is paying you, anything can happen and when such happens it is best to have a backup in other to keep yourself going because in this life anything can happen and when such should ever happen what will one do then.i

I too think that it's better to have a bunch of earning source. But never try to over stress yourself. If you are not able to handle all those, you can hire a manager who can work for you.

 

[Robust]

Yes of course that's very true , there are many scammers arround that are waiting for us to trust them then they'll deceive us and they will take our money .

Yeah, one only need to be careful with what he/she put he/her self. And one should cast he /her bread, not only in one place but various places. And he will see the profit

 

[Hena101]

It's not good to rely on single stream of income because money is needed to carry out activities everyday and if your stream is single you will suffer.

 

[Salimo]

Yeah, one only need to be careful with what he/she put he/her self. And one should cast he /her bread, not only in one place but various places. And he will see the profit

With experience we become much better at dealing with different sites , and it is easy to distinguish between legit and SCAM sites , every site which claim pay 10$ as a welcome bonus is a scam .

 

[Setfragil]

Relying on a single source of income a risk on it own because when the source of income collapses, you will be left with nothing to take care of your daily needs.

 

[Sotherefore]

Relying on a single source of income a risk on it own because when the source of income collapses, you will be left with nothing to take care of your daily needs.

Even the most reliable source of income should not be rely on ,because it may not be able to provide you of all you need ,you still needs to look for more ways you can still make some money.

 

[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 for one to rely on a single source of income one can easily start up a business in order to support his present income.

 

[jeff87]

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.

That is true if one is a businessman who is financially able to live a very comfortable life does not need other ways of income. In our country you also need up to three kinds of work in order to live a comfortable life. Some of my countrymen really work abroad in order to send money for their family back home.

 

[kayode10]

This is very fatal especially for those who are the middle class and the poor class of the economy. The reason why the rich are getting richer is because they have multiple streams of income.

 

[Hena101]

Relying on one source of income is not a very good idea, as long as you have the chance and opportunity to get another job and both is not affecting each other, you have nothing to loose, just go for it, at least you will still have one if another one fails

That's the real truth but even if you are opportune to find another job try and set up something even small that will add up to your source of income.

 

[Josemendez]

This is very fat I especially for those who are the middle class and the poor class of the economy. The reason why the rich are getting richer is because they have multiple streams of income.

Not just working streams of income but streams of income that is profitable. This is what we need to consider when choosing any stream of income.

 

[mcjerry]

There is nothing wrong with having a source to earn money. Once the source fetch lots of money. For example a person that has a business that he earn up to OR more than $100,000. There is no need for a second source. But if you can manage the two business then you can go ahead

 

[kayode10]

There is nothing wrong with having a source to earn money. Once the source fetch lots of money. For example a person that has a business that he earn up to OR more than $100,000. There is no need for a second source. But if you can manage the two business then you can go ahead

But the question is that what will be the Fate of that person when the business crashed or something take them out of the business. The person will have nothing to fall back on because that's the only single source he has. But when he has other sources, he will not have any problem when one no longer brings income.