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Author Topic: The rate of value between financial Utilizations and Diversifications of income  (Read 220 times)
el kaka22
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March 03, 2024, 04:01:53 AM
 #21

You do not have to "work" for multiple sources of income, you could work for one job and have one salary but you could have investments that would bring you different type of income. Like you could have crypto that is proof of stake, you could have crypto that is liquidity providing for you, you could have stocks that give you dividends and you could have house that you rent out and you could have bank interest for your savings accounts.

These are all things that you could do, these are just examples and I am sure that I am missing some other stuff as well. Imagine a rich person who has it all, has all of this, wouldn't you really consider that as something to benefit from? I think that would be a lovely situation.

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March 03, 2024, 09:42:55 AM
 #22

Utilization of resources helps to teach how to manage a resource in a good or bad manner. Any individual who portrays a good utilization attitude towards dishing out their finances properly on every of their needs will not spend reckless and have a chance to expand their wealth, while someone who diversify their investment will always have a divers sources of income and may never lack because if one source folds, they have another to sit back on. Therefore a good utilization of resource and diversification of income source is a valuable attitude to adopt.

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March 03, 2024, 12:03:13 PM
 #23

The way I understand it, utilization of income is about spending money efficiently. I agree that it's generally important, but utilization to me doesn't depend on the number of sources of income, so it's important both for a single source of income and for multiple sources.
As for a single source vs diversification, I agree that some areas and activities require a single source, a sole focus on one activity to achieve great things. But diversification gives more freedom and makes it more likely that a person will abandon those work assignments that bring discomfort, which is way less likely to happen with a single source of income.

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