Financial Stability - Get yourself non ending economic circle.

[Ucy]

Not too difficult to have multiple income sources and earn lots of money ... the problem is doing this the wrong way, not doing the works you would like to do, creating more problems for society trying to earn from multiple places etc
Lots of people will likely quit their jobs once they realize the implications of the jobs they do. this is part of the reason certain people choose to avoid doing certain work and earning lots of money.. it's not as if it's difficult for them to make lots of money from different jobs and be rich.

Better to just solve problems... If people appreciate or not, you still get your rewards in one way or another, as long as you do what is right. Such rewards always come from above and nobody can stop it.
If problem solving counts, whether people reward you or not, you could rightly claim you have multiple jobs.
I believe the world should emphasize on Solving Problems or making useful contributions to societies rather than just having a job. Lots of people don't contribute much in their jobs or are creating more problems yet are fully paid.

[Ultegra134]

Better to just solve problems... If people appreciate or not, you still get your rewards in one way or another, as long as you do what is right. Such rewards always come from above and nobody can stop it.
If problem solving counts, whether people reward you or not, you could rightly claim you have multiple jobs.
I believe the world should emphasize on Solving Problems or making useful contributions to societies rather than just having a job. Lots of people don't contribute much in their jobs or are creating more problems yet are fully paid.

What you're describing is way too common in the work environment, believe me. I haven't changed many occupations, I'm only 23, however, I came across what you're mentioning almost in every single workplace. I now work in a gas station, and there's more than a handful of employees there who do not deserved to be paid in full, for such kind of work they're providing.

[Silberman]

Income is temporary, bills are forever! 

We will always walk on the daily treadmill of jobs, sleeping, eating and studying until the day our minds give out.

That is unless you are or become rich in between that.

The issue is that the expression becoming rich is wrong when it comes to building your wealth over the long term, you do not become rich you plan to become rich, most people do not have a plan, they just expect that someday the good life is going to happen to them and they will obtain the benefits of it, however the ones that were able to get so much money planned for it, they saw what they needed to reach their goal and they did it, and if that meant working several jobs or getting new skills they did it, while many other people will simply think of this as too much work and will keep waiting for their luck to change.

[so98nn]

Income is temporary, bills are forever! 

We will always walk on the daily treadmill of jobs, sleeping, eating and studying until the day our minds give out.

That is unless you are or become rich in between that.

The issue is that the expression becoming rich is wrong when it comes to building your wealth over the long term, you do not become rich you plan to become rich, most people do not have a plan, they just expect that someday the good life is going to happen to them and they will obtain the benefits of it, however the ones that were able to get so much money planned for it, they saw what they needed to reach their goal and they did it, and if that meant working several jobs or getting new skills they did it, while many other people will simply think of this as too much work and will keep waiting for their luck to change.

Exactly. You wont be gaining much if you are just sitting around one chair and doing nothing. The world itself is becoming way more expensive than anything now. Whether it is fuel, plastic chair or street food, I have seen them changing cents to cents every now and then. However what we dont realise is that these cents have piled up so much now that they have added multi dollar value to every thing.

The point is simple, our salary or income is not increasing at that same rate at which the expenses are growing. If we wanna have proper bank balance, then we need to have income which will balance out the expenses first and then we start saving huge amount. Thats why have multiple incomes, fill the accounts until everything looks way way cheaper. 

[Obito]

Always good to have a backup for contingency, except you are from a wealthy family or inherited some wealth it is unhealthy to rely on one source of income, the bills will keep coming in and it is mandatory to clear some of those bills otherwise you can face problems, I do what I can to have a backup earning, crypto is my major rest are like side hustle beside my job (which I hope to quit soon enough)

That's like the dream, to have a family money for backup but not everyone has that right so it's really just overall up to us whether we should do what we should be doing so we can stay afloat. For me, I don't focus on side hustle, I focus more on building up a bank so that I can build a massive amounts of steady passive income, crypto is a good one to have but we eventually have to branch out.

[Uang_kartal]

This morning, I was reading a book on "Good Economics for Hard Times", written by two MIT professors Abhijit V. Banerjee and Esther Duflo.
I am not reading it in-depth however were looking over few chunks out of it.

It made me think about my daily routine, how I see things in financial perspective. If you see yourself and analyse by each hour, day, or monthly basis in terms of your expenses then you get know how slow earner we are and how expensive we are.

Obviously by now I have understood one thing in my life, you need multiple income sources to have all that you always dream!

I know very well you can live a low budget life too. For example someone might just argue, you need only single stable income. True. BUT, as you go on in your life, you start to experience big burden of expenses piling up on your shoulder. Whether it is commute expense, fuel, daily food, dates with your wife, school expenses of kids, their wishes, birthdays, car loans, home EMI, personal world tours and non ending stuff you name it. Things will always be boomerang and they will sometimes go ahead of your income.

This will never end up in financial stability, rather it will just keep you up to date with your 9 to 5 job, a small circle, with broken dreams and stuff.

So, a thought cam in; you need that Non-Ending Economic Circle. By definition literally means you should be able to tackle the satisfaction by means of scarce sources.

How one can have this satisfaction?

Well as far as I am thinking you get into the market and create multiple income sources. There should be flow of money your banks all the time. You should be thinking more about your plans rather than bending your plans according to your bank balance.

With the digital era, there are just so many ways to earn the money. If spoken about the crypto space then . .
1) Crypto staking
2) Mining Farm (Very profitable if done properly)
3) Crypto Trading
4) Crypto Investment by HODL (More or less staking without fixed APY%)
5) Work at Forum

Apart from above list:

1) Blogging
2) YT influencer
3) Social platform king e.g. Insta page, FB pages, Twitter (Promoters)
4) Digital Marketing

The Big Boy
Be an entrepreneur or business owner of at least one stream of product that suits you.

Moreover there is big platform to work as part time earner on amazon, medical writer, medical coder, flyer influencer and many more opportunities which can be availed with few course or based on your skills.

Has it occurred to you sometime you should have more income sources than just relying on single one?

Do you really believe in such economic circle where your income is unlimited and your expenses does not matter. 

In theory, I rarely see references just looking at motivators.. that's true.. I'm experiencing at this time that my online store business must progress if it doesn't rely on just 1 ... almost 10 employees with a turnover that can afford $8000 every month from selling cosmetics.. but because my expenses are bloated and unmanaged, the income and allocation is not clear where..until now the turnover is down and I don't have any employees.. right now I want to learn a career in the forum. I want to explore a lot of other people's experiences.. I decided to become a professional

[cheezcarls]

This morning, I was reading a book on "Good Economics for Hard Times", written by two MIT professors Abhijit V. Banerjee and Esther Duflo.
I am not reading it in-depth however were looking over few chunks out of it.

It made me think about my daily routine, how I see things in financial perspective. If you see yourself and analyse by each hour, day, or monthly basis in terms of your expenses then you get know how slow earner we are and how expensive we are.

Obviously by now I have understood one thing in my life, you need multiple income sources to have all that you always dream!

I know very well you can live a low budget life too. For example someone might just argue, you need only single stable income. True. BUT, as you go on in your life, you start to experience big burden of expenses piling up on your shoulder. Whether it is commute expense, fuel, daily food, dates with your wife, school expenses of kids, their wishes, birthdays, car loans, home EMI, personal world tours and non ending stuff you name it. Things will always be boomerang and they will sometimes go ahead of your income.

This will never end up in financial stability, rather it will just keep you up to date with your 9 to 5 job, a small circle, with broken dreams and stuff.

So, a thought cam in; you need that Non-Ending Economic Circle. By definition literally means you should be able to tackle the satisfaction by means of scarce sources.

How one can have this satisfaction?

Well as far as I am thinking you get into the market and create multiple income sources. There should be flow of money your banks all the time. You should be thinking more about your plans rather than bending your plans according to your bank balance.

With the digital era, there are just so many ways to earn the money. If spoken about the crypto space then . .
1) Crypto staking
2) Mining Farm (Very profitable if done properly)
3) Crypto Trading
4) Crypto Investment by HODL (More or less staking without fixed APY%)
5) Work at Forum

Apart from above list:

1) Blogging
2) YT influencer
3) Social platform king e.g. Insta page, FB pages, Twitter (Promoters)
4) Digital Marketing

The Big Boy
Be an entrepreneur or business owner of at least one stream of product that suits you.

Moreover there is big platform to work as part time earner on amazon, medical writer, medical coder, flyer influencer and many more opportunities which can be availed with few course or based on your skills.

Has it occurred to you sometime you should have more income sources than just relying on single one?

Do you really believe in such economic circle where your income is unlimited and your expenses does not matter. 

This is exactly what I have been doing since I’m given a second chance to bounce back on my cryptocurrency career after down to a few hundred dollars. During the pandemic, I am averaging only $250+ a month from a company who gave me a chance to be part of their team. Plus, I have slowly rejuvenated my Youtube career but I need to start from scratch again. I was struggling to save money back then because of non-stop paying of bills and other necessary expenses plus essential stuff.

The turnaround came when I started to receive some offers regarding sponsored content (and some lucky ones from airdrops and bounty programs that I’ve joined) during the late 2nd half of last year. It gave me a chance to learn in becoming financially stable and I am actually doing it. However, I am not yet contented because my monthly earnings are still below my expectation despite that it’s stable.

It’s why I never stick to one income source alone. As I am very hungry for more opportunities, it allows me to get back those things that I’ve lost and have saved even more than I was before.

[Ultegra134]

Income is temporary, bills are forever! 

We will always walk on the daily treadmill of jobs, sleeping, eating and studying until the day our minds give out.

That is unless you are or become rich in between that.

The issue is that the expression becoming rich is wrong when it comes to building your wealth over the long term, you do not become rich you plan to become rich, most people do not have a plan, they just expect that someday the good life is going to happen to them and they will obtain the benefits of it, however the ones that were able to get so much money planned for it, they saw what they needed to reach their goal and they did it, and if that meant working several jobs or getting new skills they did it, while many other people will simply think of this as too much work and will keep waiting for their luck to change.

Exactly. You wont be gaining much if you are just sitting around one chair and doing nothing. The world itself is becoming way more expensive than anything now. Whether it is fuel, plastic chair or street food, I have seen them changing cents to cents every now and then. However what we dont realise is that these cents have piled up so much now that they have added multi dollar value to every thing.

The point is simple, our salary or income is not increasing at that same rate at which the expenses are growing. If we wanna have proper bank balance, then we need to have income which will balance out the expenses first and then we start saving huge amount. Thats why have multiple incomes, fill the accounts until everything looks way way cheaper. 

That's true, especially now with inflation rapidly rising the past few months, while our income hasn't changed for the better. The available income after expenses is severely impacted due to the rising inflation, with fuel, groceries and electricity costing way more than it used to.

Usually, our income rarely increases, cause that needs a sequence of actions to happen, such as a promotion or a raise.

[add1ct3dd]

The passive income method is not a bad one but it is also not a forever one neither. You could put your money into cake for example, put it on some yield farm or stake and you could earn a lot of money from it. There are not many other stuff in the entire world that could give you that type of return, sure there are some smaller ones that offer more but that is usually because we are talking about volatile and unstable stuff, cake is better in that regard.

But that is not a forever thing, if you buy a house and rent it, then you may earn a lot less, and I mean like A LOT less, but that could go on for 100+ years to your grand kids. Cake may stay that much, but it is unlikely and that is the problem.

[Silberman]

The passive income method is not a bad one but it is also not a forever one neither. You could put your money into cake for example, put it on some yield farm or stake and you could earn a lot of money from it. There are not many other stuff in the entire world that could give you that type of return, sure there are some smaller ones that offer more but that is usually because we are talking about volatile and unstable stuff, cake is better in that regard.

But that is not a forever thing, if you buy a house and rent it, then you may earn a lot less, and I mean like A LOT less, but that could go on for 100+ years to your grand kids. Cake may stay that much, but it is unlikely and that is the problem.

Passive income is what everyone is looking for, basically you create something so valuable that people keep buying it and you just keep receiving the money in your bank account or wallet, but very few people are going to be able to get that kind of income and as such it is important to concentrate instead on how to generate money on our own while at the same time we create different income streams as with the economy being in such a bad shape you never know when you can lose your main job.

[Crypto Lion]

This morning, I was reading a book on "Good Economics for Hard Times", written by two MIT professors Abhijit V. Banerjee and Esther Duflo.
I am not reading it in-depth however were looking over few chunks out of it.

It made me think about my daily routine, how I see things in financial perspective. If you see yourself and analyse by each hour, day, or monthly basis in terms of your expenses then you get know how slow earner we are and how expensive we are.

Obviously by now I have understood one thing in my life, you need multiple income sources to have all that you always dream!

I know very well you can live a low budget life too. For example someone might just argue, you need only single stable income. True. BUT, as you go on in your life, you start to experience big burden of expenses piling up on your shoulder. Whether it is commute expense, fuel, daily food, dates with your wife, school expenses of kids, their wishes, birthdays, car loans, home EMI, personal world tours and non ending stuff you name it. Things will always be boomerang and they will sometimes go ahead of your income.

This will never end up in financial stability, rather it will just keep you up to date with your 9 to 5 job, a small circle, with broken dreams and stuff.

So, a thought cam in; you need that Non-Ending Economic Circle. By definition literally means you should be able to tackle the satisfaction by means of scarce sources.

How one can have this satisfaction?

Well as far as I am thinking you get into the market and create multiple income sources. There should be flow of money your banks all the time. You should be thinking more about your plans rather than bending your plans according to your bank balance.

With the digital era, there are just so many ways to earn the money. If spoken about the crypto space then . .
1) Crypto staking
2) Mining Farm (Very profitable if done properly)
3) Crypto Trading
4) Crypto Investment by HODL (More or less staking without fixed APY%)
5) Work at Forum

Apart from above list:

1) Blogging
2) YT influencer
3) Social platform king e.g. Insta page, FB pages, Twitter (Promoters)
4) Digital Marketing

The Big Boy
Be an entrepreneur or business owner of at least one stream of product that suits you.

Moreover there is big platform to work as part time earner on amazon, medical writer, medical coder, flyer influencer and many more opportunities which can be availed with few course or based on your skills.

Has it occurred to you sometime you should have more income sources than just relying on single one?

Do you really believe in such economic circle where your income is unlimited and your expenses does not matter. 

I do like the concept of having Crypto Mining as well. It's sad most of the online cloud miners aren't usually good quality. Overall, I believe that a mixture of crypto/stocks, etc and other things like that can really help with giving multiple income streams in the long term.

[jerry0]

Isn't it not profitable anymore mining due to the equipment costs?

[lienfaye]

Has it occurred to you sometime you should have more income sources than just relying on single one?

Yes because I know how it feels to have nothing in your plate. When I was a kid we are really struggling because my father died early, leaving us alone. He is the one who's working overseas and my mom stay at home taking care of us. After his passing our lives became difficult and we experience hardships in order to survive.

Growing up with such background, I strived to have a better life and grab every opportunity that comes my way. Hence, even I have a real job, I also have a mobile accessories and cp repair business that is running for 6 years already, plus my crypto investment. Dont be contented to be financially stable, in time you'll see the result.

[Sayeds56]

People, especially the young ones have their eyes set on making it big on social media, hence why there is a sudden boom of influencers on tiktok, instagram, and youtube. It is because they are seeing fame in social media as the easy way out on financial struggles, because said endeavour pays, and it pays a lot. Advertisers are crazy on big numbers and wider reach, and a lot of people aspire to be on the limelight in order to reap such payouts by being big on social media.

I think the best way to achieve financial stability is when you succeed to make good profit by holding crypto and investing it in Real Estate which is historcially considered best way to make passive income by renting your Residential or commercial property which not only generates income on monthly basis but also value of your asset is appreciated. Staking and farming on DEFI projects  is another form of generating passive income but you should be good in cherry picking as there are many scams in this field.

[AicecreaME]

It's really advisable to not only depend on a single stream of income. It's much better to have multiple sources of income to achieve financial freedom and independence. No man has ever become trouble-free in financial aspect for only having a one work to sustain his needs and wants in life. A work won't guarantee you the life you want. It would be between to just enough to sustain your necessities in order to survive or barely making the ends meet. Hence, you have to be strategic, creative, and resourceful in order to have many ways to acquire income.

During this modern age, there are so many job opportunities and other means to generate income and profit with the help of technology and innovation. Aside from working your day job, you could also find another job as a sideline such as freelancing with the help of your talents and skills. You can make your hobbies as another way to earn money. That way, you are enjoying as well as earning profit - a win-win situation. You can also invest in stocks or crypto and other form of investment vehicle that suuts your preferences well. You'll have a passive income while doing the things you need to do, which is a good thing because you'll spend minimumof your energy to it. You can also try doing small business if you have a capital to start off and it is your thing.

You see, there are so many ways to be financially stable before you even reach your retirement age. You just have to keep looking and of course you must execute your plan well to be able for it to flourish.

[bitzizzix]

It's really advisable to not only depend on a single stream of income. It's much better to have multiple sources of income to achieve financial freedom and independence. No man has ever become trouble-free in financial aspect for only having a one work to sustain his needs and wants in life. A work won't guarantee you the life you want. It would be between to just enough to sustain your necessities in order to survive or barely making the ends meet. Hence, you have to be strategic, creative, and resourceful in order to have many ways to acquire income.

During this modern age, there are so many job opportunities and other means to generate income and profit with the help of technology and innovation. Aside from working your day job, you could also find another job as a sideline such as freelancing with the help of your talents and skills. You can make your hobbies as another way to earn money. That way, you are enjoying as well as earning profit - a win-win situation. You can also invest in stocks or crypto and other form of investment vehicle that suuts your preferences well. You'll have a passive income while doing the things you need to do, which is a good thing because you'll spend minimumof your energy to it. You can also try doing small business if you have a capital to start off and it is your thing.

You see, there are so many ways to be financially stable before you even reach your retirement age. You just have to keep looking and of course you must execute your plan well to be able for it to flourish.

Yes, I totally agree with you, in this time of economic instability, we also have to be smarter in choosing between needs and wants and this is done so that our financial situation can be more stable.
And most people don't realize that they have the skills and abilities that can be used to generate income and also have a reluctance to take advantage of the creativity that makes them dependent on the available income, so their lives don't thrive.
actually if our eyes are wide open there are lots of sources of income that can be obtained in the world of technology or the real world, it's just that they are lazy and feel they have had enough with what they already have without any desire to develop and also create better finances for now and future.

[Congyang]

now we live where technology dominates almost all fields and what we can do now is.
1. survive with technology that continues to advance by increasing literacy and continuing to add insight so that we are not left behind from a civilization that is increasingly advanced.
we will not be able to survive if we still think of the old ways to survive today.

On the other hand, with the development of advanced technology, we must also be able to maximize it, especially in maintaining the productivity we have because now almost all work is assisted by advanced tools and technology and this is where we must be able to master and make this technology like something that is profitable for us. us in a way as I said above.
but things like that are still not evenly distributed in the socialization and introductions that are carried out so that there are still a lot of people who are clueless in technology so they don't like things that smell like technology and still use old ways to survive.

[Quidat]

when you mention blogger i remember I used to underestimate a blogger job before. but after getting to know my closest friend who are full time blogger. he only worked the first 2 years and his blog continued getting a lot traffic for the next 5 years and make incredibly income from it . and currently he is just a passive writer with much more income. sometimes the obstacle to start doing all of that is the fear of starting and the fear of failure.

There are people who are talented and which are not which means if they are that dedicative on certain things that t hey do like then it would mostly be on that successful side but its not an assurance because it will always matter with the demand and recognition which is something that cant really be controlled nor be influenced by anything and this is also needing some sort of luck when it comes ventures you are
dealing with.

[el kaka22]

I never really liked the "hustle" suggestions that people give out. I understand the whole "garyvee" type of money making, and I am not really stupid enough to fail to even try it, I could try and fail and that would be alright but I am not even trying it, not because I can't, but because I disagree with the whole idea. The logic of "if you work really hard, spend 20 hours a day working and only 4 hours sleeping and do nothing else for 5 years, then you will be rich for the other 30+ years left in your life (presumably)" is not something I would advice to anyone.

It is not healthy, I had like maybe 3-4 months like that and I made INSANE profits back in the day, this was probably 5 years ago or so, when I first quit my job, and I HATED it, I rather make a decent small but enough money like I make now, it is enough for me to survive, sometimes I have to pay some extra stuff and life becomes very hard, but aside from that I rather do this than work 20 hours on multiple other jobs, it just makes life so miserably and you burn out.

[wxa7115]

I never really liked the "hustle" suggestions that people give out. I understand the whole "garyvee" type of money making, and I am not really stupid enough to fail to even try it, I could try and fail and that would be alright but I am not even trying it, not because I can't, but because I disagree with the whole idea. The logic of "if you work really hard, spend 20 hours a day working and only 4 hours sleeping and do nothing else for 5 years, then you will be rich for the other 30+ years left in your life (presumably)" is not something I would advice to anyone.

It is not healthy, I had like maybe 3-4 months like that and I made INSANE profits back in the day, this was probably 5 years ago or so, when I first quit my job, and I HATED it, I rather make a decent small but enough money like I make now, it is enough for me to survive, sometimes I have to pay some extra stuff and life becomes very hard, but aside from that I rather do this than work 20 hours on multiple other jobs, it just makes life so miserably and you burn out.

Without a doubt that is unhealthy but at the end we all need to take decisions about what we want for our lives, if someone is willing to do that and can in fact pull it off then I think their statements about how they could set themselves up for the next decade or two are not wrong.

However there is a big difference between wanting to pull this off and being able to actually do it, something you have experimented yourself, and if a person cannot do it then the path you have taken is the correct one, work hard within some reasonable limits and use your money in a responsible, and if you do this for long enough then success will eventually follow.