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

[Laurentta]

It isn't good to rely on a single source of income. It doesn't hurt to have a backup. We aren't praying for bad things to happen but anything could happen at anytime so its always good to be prepared for the worst.

 

[YERUS]

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?

At the way the situation of our economy is going, surviving with just one source of income is lethal.
Consider your family size and your responsibilities, and get at least two or three streams of income.
that way, basic needs can be met.

 

[greenie]

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.

 

[Smiles20]

It is never a wise thing to rely on a one source of income because it is just similar to putting all your eggs in one basket. And business professionals we should learn to diversify our portfolio at all times.

 

[Sotherefore]

I don't really know about other people , but if I am to decide it for my own personal self I will never rely on one source of income because it can fail at anytime , I must have something to lean on if needs be .

 

[Shigobad20201]

Currently relying on only one source of income most especially in Nigeria when you know the source can run dry at anytime is not advisable , at least two source of income is preferable.

 

[Godspower]

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?

Relying on one source of income is not really ideal in an economy like this. The cost of goods and services are getting higher with each passing day so you will need multiple streams of income to cope.

 

[Shigobad20201]

Depending on the particular type of business you are doing , there are some business that is huge and brings more Income , but some business bring little amount of income which cannot be relied upon .