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

[joy101]

It not good to depend on a single income, because depending on one source of income will put you on the risk, and it not good idea to rely on one source of income is not advisable, because it will set you back.

 

[Emmanuella]

relying on only one source of income can be very risky. what if something happens to that one source how will you survive? Having just one source of income is totally not okay, it can limit your ability and growth and your resources will be limited too. You need multiple sources of income in case one stops generating money, u can fall back to no 2

 

[Hassan14]

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?

What is a single salary makes it very difficult to run your household. It is very difficult to do this in our country and people can never live on a single salary so we have to do some business or other job with it. I think it is very difficult to do any work with celery and the expenses of the house can never be met.

 

[Asad Ali]

It depends on your current salary so that you can live a prosperous life.If your salary is low then you have to do something elseIn today's era of inflation, it is very difficult to depend on just one job.There is something else that needs to be done. I would prefer side business as well as side business and would love to invest.

 

[tuna89]

Different sources of income are very necessary for sustenance, If you have a white collar job like a Government job, you will definitely have more time to concentrate on another income source, be it a business, no matter how small it is. If eventually you lose one of the sources of income, you can recover by relying on the other. Do make sure to save as well.

 

[Ehizzy1]

I think its not good to actually rely on a single source of income because there would be a time when that single source won't be there , the person would know be left stranded ,so its best to plan your income and dont depend on a single source of income i think

 

[MRizwan530]

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?

Basically I am a teacher and I am being from government but I am not completely satisfied from my income and I cannot really on single source of income I am trying to start some sort of side business so that I can earn about half of my income and I can save them and fulfill my wishes because salary is only fulfilling my needs not my wishes.

 

[Maheen Khadija]

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?

Millions of people also follow that path today, they relying on a single source of income, but in today's economy, that approach is inherently flawed. If you follow it strictly, it could set you up for hard financial times, longer stretches of work before retirement, and in some cases, total financial failure.

 

[Abigael]

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?

I don't think that it would be great or even wise to have only one source of income. With the current economy in many nations, it would be so hard to sustain yourself using only one stream of income. I think one should invest in different ventures and diversify their income streams in order to have good financial stability.

 

[Smiles20]

It is not a goodthing at all. Depending on only one source of income can't really make you rich. There are so many risks attached to maintaining only one source of income. Therefore it is very wise of one to be vast and have somany sources of incomes.

 

[Mujahid12]

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?

Nowadays, the answers of budget of every have increased a lot and the higher the income the less it seems, so I think should have a different source of income online and offline so that both the income will come and the savings and budget much easier and bigger.

 

[Tiwa]

In this present age and time? I don't think so. There is a lot to consider in order to meet basic living needs let alone have a quality standard of living.
Inflation rate is crazy just as education and feeding. Now dream of going on vacay in an off planet paradise!! .So all these illustraions is to drive my point home on need for multiple I m super multiple means of income. Lets legit hustle.I pray it all pay off soon.

 

[Heatman]

There's no problem in depending on one source of income if the source is yielding millions every month and you know that source is very secure for at least 10 years..there's no harm in depending on such source.

Please would you be so kind enough to humor me with the so called source that can yield millions every month? I mean for an average person to get a single source of income like that, is something that have the smallest possibility of being realistic.

 

[Gilead]

Please would you be so kind enough to humor me with the so called source that can yield millions every month? I mean for an average person to get a single source of income like that, is something that have the smallest possibility of being realistic.

its rare and just little chance of getting such source , that's why i said if likely the source could be as i described earlier then there's no problem in depending on it...But there might be little or no chance that's even possible but if it were......hope you get what am trying to say?

 

[Divulgence]

Relying on a single source of income is suicidal.
It is not good to rely on a source of income. One need to be diversified with ones sources of income
When on is not yielding others will.

 

[Chumzy]

This is just the same thing as, putting all your eggs in one basket. It is the worst thing to do actually, it like setting yourself up to fail, and that is a really tough one. Having multiple streams of income gives you a lot of confidence and security about your future.
It is less risky, and you are most likely going to have a better life

 

[Heatman]

its rare and just little chance of getting such source , that's why i said if likely the source could be as i described earlier then there's no problem in depending on it...But there might be little or no chance that's even possible but if it were......hope you get what am trying to say?

Yeah, I do get your point now clearly. Most developing world's economy would be very hard for one to have a paying job that can give enough money to make such salary effective in taking care of the individual's expenses without worrying about getting another source of income.

 

[Dorcey]

There are some business that requires being focus on and to make progress on it, it has to be the only business you can give ur 100% attention to which can lead to you relying on it .

 

[Gilead]

Yeah, I do get your point now clearly. Most developing world's economy would be very hard for one to have a paying job that can give enough money to make such salary effective in taking care of the individual's expenses without worrying about getting another source of income.

Exactly my point..where i come the category of people who earn million ar

 

[Heatman]

There are some business that requires being focus on and to make progress on it, it has to be the only business you can give ur 100% attention to which can lead to you relying on it .

It's not really a must that you would have to be there like physical presence 24/7 before you can successfully manage your business and maximize your profits.

You can get a trusted crew or staff just like some people would like to call and then supervise their work from time to time.