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

[Setfragil]

The worst thing that can happen to anyone is to rely on one source of income. When the single source of income fails, you will be stranded and broke. The best thing is to always have plan B in case plan A is no more.

 

[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.

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 never right for one to rely on a single source of income at because you don't know whether that business will feel one day so because of that one needs to diversify in terms of business to survive.

 

[Alexandoy]

The worst thing that can happen to anyone is to rely on one source of income. When the single source of income fails, you will be stranded and broke. The best thing is to always have plan B in case plan A is no more.

If you have a permanent job that pays well then I guess your only choice is to rely on that one job. I have been an employee in my professional life and I'd say I have no regrets. When I retired I have a monthly pension aside from the money that I saved through the years.

 

[Setfragil]

If you have a permanent job that pays well then I guess your only choice is to rely on that one job. I have been an employee in my professional life and I'd say I have no regrets. When I retired I have a monthly pension aside from the money that I saved through the years.

You can depend on one single job if there is a good job security that comes with the job which you can get mostly with government jobs. Having a second jobs only helps you to takes care of some bills.

 

[Tracee]

No it's not, as we have various needs that needs to be met so the sources of getting financial freedom has to increase. Relying on one source put you in strain trying to meet up.

 

[alexson]

No, I don't think so. It's not good to rely on a single source of Income.

 

[Salako]

No, because single source can't keep you in the caliber of the Rich's and you will definitely be in need everything blessed day

 

[jeff87]

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

If one job pays high salary, I believe that there is no need for a second or third job. The main job should be enough so that you will not need extra or additional jobs.

 

[Solutionav]

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?

Having one source of income is not advisable because if anything happen and the source of income stop coming that means you will have to face poverty and the experience is not usually funny

 

[Josemendez]

If one job pays high salary, I believe that there is no need for a second or third job. The main job should be enough so that you will not need extra or additional jobs.

There should be especially if it is an investment . It helps to give the children a good beginning and also to help us stress ourselves less when taking Financial actions.

 

[Ghost1]

If the only single source you are on is okay to fend for your need And that of your family I don't see why someone should have to add another

 

[eLdavis]

No, I don't think so. It's not good to rely on a single source of Income.

I agree with you, having one source of income is never the best. If anything happens to that one source, you would be stranded. The COVID period really taught alot of lessons about relying on just a single source of income.

 

[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 thing for someone to rely on one source of income as a source of income is not good enough to really make anyone to be financially free but having a multiple sources of income actually post once income.

 

[Josan]

Is it good to rely on a single source of income? I'll say no! The reason is one source of income can kill even faster than cancer if it can meet up your needs. So the best is having multiple streams of income.

 

[Nsisong]

For me I would say no it is not good to rely on one source of income . If you have a family with children it is better to have multiple sources of income so you can have enough money to provide for the fill

 

[Yhubee]

I will say a very big NO to this.A single income can't be enough.For me I would love to engage in multiple businesses to get multiple streams of income.

 

[tyrim88]

Sometimes if one source is enough, then it can be kinda okay, but you always need to have a plan B in backup, so if anything goes wrong, you can rely on your plan B, you can't guarantee that your only source will be living forever

This is what any wise investor would always do in any situation,because a single source of income would mean that anything that happens to that source it will spell doom.

 

[Senator]

No it is not always a good idea to be relying on a single source of income in your life for survival. You should always seek means to diversify your income sources to help life easier for you

 

[Tislad]

It depends on the the income if the income is huge then why stress yourself depending on what you are doing you can't be making $5million montly and still be streaming yourself.

 

[Peskyblaise]

Some people can still do with a single business so far it's fetching you your needs.. just that some people are so greedy that they can't be satisfied with any amount they have. But I think we should always take out time to rest and assist the Less privileged.