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

[skyliequiz]

That method is fundamentally faulty in today's market. If you strictly adhere to it, you may be setting yourself up for difficult financial times, longer stretches of work before retirement, and, in some cases, total financial failure.

 

[Essy]

Oh well, I would say that it depends on Ines level of comfort and satisfaction that would determine if you would be okay with one stream of income.

 

[Toyoabasi]

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?

As long as your current income stream does not cater for your needs and that of your family satisfactorily, it is not advisable to settle for just one source of income.
You can get a job in an organisation, run a business offline or online, and still make money on online sites.

 

[Adebayonle7]

There are lots of expenses out there especially now that there seem to be high rate of inflation, one cannot depend on the salaries alone, one should use some of his savings to start a business or find online sources of earning and get involved, else, one whose salary is not enough may end up borrowing heavily.

 

[Favouredgirl]

It's not wise to have just one source of income so that you don't get frustrated when your salary don't come when it should, you should have side business that will generate income so as to gain financial stability

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?

 

[eLdavis]

It's not wise to have just one source of income so that you don't get frustrated when your salary don't come when it should, you should have side business that will generate income so as to gain financial stability

Very true, relying on just one source of income can be really dangerous most times, imagine does who had just one source of income during the covid period, alot of persons lost their jobs and could not provide for their families.

 

[Lucy ID]

Is never advisable to depend on only one source of income especially with the rate at which things are on the high side and many things can happen even happen to that source of income what if it's stop bring expectated income

 

[skyliequiz]

In today's environment, we should have many revenue sources rather than relying on just one. This puts you in a better position to be prepared if one of your income sources fails. You have something to fall back on now.

 

[Senator]

No ody will as advise you to depend on only one source of makiymo ey for yourself. You have to widen you tenetacles to other means o makiygood money too you know

 

[Tislad]

Relying on a single source of income depends on what kind of business you are doing and how much comes in for you, let me tell you if you have a business that fetches you a million per month I feel you can rely on such alone.

 

[Mentor]

Money is needed to meet the needs of every thing, some people rely on their monthly salaries but for I will add other businesses to boost my income

 

[Odunladeseunvictor]

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?

That's is the worst thing to do, you can't always rely on one income, unless if you collecting huge salary but know that salary is not forever

 

[Skysaint]

Personally, I don't think it's the best. Not when you have other available options for making more money. In a country where there is a high rate of unemployment, it's best to explore as many ways as possible from which you could earn money

 

[AirDima]

No, I don't think its good to rely on a single source of income. What if that source is being cut of and you're left with nothing? One can engage himself in an online business and the other an offline business.

 

[Good-Person]

I think you can rely on single source of income if that single source of income is reliable. However, it is always a good idea to have multiple sources of income because you may never know what may happen in the future.

 

[Godspower]

It is not to rely on a single source of income. Even if you're a government worker, try to have a side hustle or business that will make you have multiple source of earnings.

 

[kinqzbitz]

Well it is a terrible idea to only have one source of income and also it is better to have numerous ways of income just so you won't rely on one because it might fail anytime

 

[Sotherefore]

Even me I do not like to only have one source of income because it can really fail me at any particular period of time ,and at this time I will be frustrated without having nothing to help me recover it, having more than one is the best option except the one you are having is very secured.

 

[Seno inyang]

Consider if just that particular source of income goes down due to some factors/reasons you can't control at some time, will you starve or Starr borrowing loans you can't pay back? Hell no!
Please no matter how handsomely you are being paid from your only source of income try and invest that money into another business that will generate more income asides the other, you won't regret it. This is my opinion.

 

[Kaffyfolla]

Depending on the only one source of income is not okay due to the fact that if that only source have an issue, it will affect the living while it will be very hard to tackle the obstacle