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Author Topic: Does a side job/business improve your finanical stability ?  (Read 3362 times)
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January 14, 2023, 11:58:54 AM
 #21

What did you do or will you do in order to ensure your finanical stability despite all unfavorable circumstances ?
Maintaining multiple streams of income can give assurance of a level of financial stability. That is majorly the goal for everyone seeking financial stability. Having just one stream of income is highly discouraged in this economy where things are unpredictable. A side hustle or business can offer another stable stream of income if managed well and properly. So yes, a side hustle and job improves financial stability.

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January 14, 2023, 12:38:09 PM
 #22


To make a living, we must work. In uncertain days like now facing the global economic downturn, a stable job with high income becomes a scarcity. A side job or business seems like more necessary than ever, which can minimize the risks of losing your current job, ending up pennyless. However, a side job/business also takes time and efforts and can never be attained whenever we need it. What did you do or will you do in order to ensure your finanical stability despite all unfavorable circumstances ?
There is one way to keep our finances stable despite the economic failure and that is to multiply our sources of income.
Many people had worked hard, relying solely on their job but as we can see these people are still suffering in debt due to inflation and their salary isn't enough to cover all expenses and basic needs. I know we don't need to risk our health due to extended time working but something it looks like we need to do this just to fill all our needs otherwise, we die of hunger and have no better future for our children.



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January 14, 2023, 12:52:43 PM
 #23

What did you do or will you do in order to ensure your finanical stability despite all unfavorable circumstances ?
I have to sell some of my assets and that's just to sustain for the time being since everything is crashing lately since the bull of 2021 has done. Yeah, even if it's not a bull run then I have to sell some of my assets as if they're my life savings and that's the use of it. I can wait further and be patient to see its value go up but that's not the thing when you're in a tough situation. Aside from having a part-time job when you've got assets that are liquid, that's going to be the one of the use of it.

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January 14, 2023, 12:53:46 PM
 #24

Does a side job/business improve your finanical stability ?

However, a side job/business also takes time and efforts and can never be attained whenever we need it. What did you do or will you do in order to ensure your finanical stability despite all unfavorable circumstances ?


I don't know if anyone's financial stability is ever truly secured. Elon Musk was claimed to have lost $200 billion in net worth in 2022.

From 2020 to the present there were more than a few billionaires who hit rock bottom, who had their entire fortunes wiped out by stock market swings and other tragic events. Even billionaires are not guaranteed stability in the current market.

One thing that stands out to me is the use of the term "armchair financial advisor". It is possible that the only road towards gaining competence and comprehension of markets, investing and business is to try to do it yourself. Especially in the current era where the balance between corporations, the state and the average citizen leans so heavily in favor of the establishment.

I don't know if my financial stability will ever be guaranteed. But one thing I do is try to come up with ideas which have the potential to make a million dollars for fun. Calculate basic costs versus potential sales and profits to come up with a business model and niche area that might have a chance of success. Even if it fails, or has zero chance of success, it could be good exercise. Like a crossword puzzle or sudoku. I don't think its an exaggeration to say that there are many paths to becoming a millionaire and attaining some degree of financial freedom all around people. Things they never notice and never really think about.
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January 14, 2023, 01:01:32 PM
 #25

The word "financially stable" is like a scam to me, every rich men out there never stopped working, they always want to grow higher and that's where financially stable doesn't make any sense to me, I believe that if one is truly financially stable their money will never go down, their net worth will stay the same or grow higher always which is impossible.

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January 14, 2023, 01:30:49 PM
 #26

The word "financially stable" is like a scam to me, every rich men out there never stopped working, they always want to grow higher and that's where financially stable doesn't make any sense to me, I believe that if one is truly financially stable their money will never go down, their net worth will stay the same or grow higher always which is impossible.

To be more precise, we are looking for financial improvement, not financial stability. Actually when it comes to financial stability is something very luxurious for us who are working hard every day to earn money. But with human greed, how can it be called stable? because once you have it, you want more, it's never enough. 2 years ago, my salary is 500$, and I can still take care of my life. But now, my salary has increased many times, but I still find myself struggling in life, it has never been stable for me.

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January 14, 2023, 01:52:04 PM
 #27

Keeping finances stable is to refrain from buying useless things.  Besides that, looking for additional money is really needed at this time, you can sell online or become a content creator, it seems like that is enough to cover your basic financial needs.  tips from me look for a side job that doesn't drain your energy and doesn't drain your mind.
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January 14, 2023, 02:02:01 PM
 #28

Why wouldn't it? Side gigs are extra money that you can save or invest for the future. Of course it will improve your financial stability in the long run. As long as it isn't affecting your primary job or isn't depriving you of anything in your life, I see no reason why someone wouldn't prefer doing a side gig. Each and every penny you save for the future will one day be worth it. Might not look like much now, but you will appreciate later. But don't forget to consider the time and effort you will be giving for those side gigs. Not worth it if you are going to spend hours for few bucks.

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January 14, 2023, 02:16:42 PM
 #29

Sometimes having a side business is really needed when economic conditions are getting more difficult. However, the problem is that it is difficult to find business opportunities that can be used as a side business. because a side business must be flexible in time. so as not to interfere with our main work. Some people choose to raise fish as a side business. because of minimal maintenance and can be left while we work.
but of course we need insight about it.

I also have several side businesses in an effort to keep my economy stable. because sometimes my business doesn't have enough satisfying profit. and I am quite helped by having other income from a side business.

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January 14, 2023, 02:31:41 PM
 #30

~ What did you do or will you do in order to ensure your finanical stability despite all unfavorable circumstances ?
Upskill. Despite the economic downturns in recent years, there are still many opportunities to earn some good money. Learning new skills or upgrading can give you more chances to get one of those high-paying online jobs/gigs.
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January 14, 2023, 03:00:00 PM
 #31

Why do we need to debate in this thing?
You got a job = you make more money. You make more money = you will be financially stable. Same if you have a business.

This isn't debatable anymore because it's already given that if you have more side jobs or side business or whatever it is called, you will have more money and you will be financially stable. Well, there are some factors that might affect you though. Things like if your business will fail or you will be fired from the job you have but overall, having a multiple income source makes you 1 step ahead on becoming financially stable.

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January 14, 2023, 03:01:15 PM
 #32

Even if I'm able to save with my full-time job, I still find other means to earn extra. I always have a side hassle just in case I'll have an emergency or I suddenly need extra funds. I think most people do this, especially now we are experiencing an economical crisis. And it's true that it's difficult to find a sustainable stable job where you can earn a decent salary, that's why having one job nowadays won't be enough. Not to mention the crazy surge in basic commodities prices.
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January 14, 2023, 03:09:09 PM
 #33


What did you do or will you do in order to ensure your finanical stability despite all unfavorable circumstances ?

Make a lot of passive income as much as possible. But starting a business ain't that bad, especially if you are confident that your business will be running for a long time because it can adapt the current trends and future trends. A successful business will always depend on the owner, you must have a never ending idea to improve your business while it's growing to stay updated and your customers will be always happy to buy your products or services.
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January 14, 2023, 03:14:24 PM
 #34

Extra income always come in handy, side job is not bad at all because there is always some expenses that you never planned for, it sometimes just come out of nowhere, especially for a man side job is very important unless they made more than enough from their main job or business.

Actually I don't like the idea of relying on one job, with time things can take a drastic turn, even with your own business, in time things could change and you will lead to either abandon that business for another or find means to upgrade.

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January 14, 2023, 03:48:17 PM
 #35

I cannot see any reason that it won't. Most people are satisfied with what they are earning from their jobs but to those who has a business and a side job, they'd earn as much as possible to aid their expenses and as long as their time could manage. Expenses are not constant while salary is. Even if you have savings from your salary alone, that won't last forever unlikely of having another source of income which would obviously add to your 'normal income' which will basically stretch your capacity to pay the necessities. So yes, it would definitely improve one's financial capability rather than stability alone.
Extra income always come in handy, side job is not bad at all because there is always some expenses that you never planned for, it sometimes just come out of nowhere, especially for a man side job is very important unless they made more than enough from their main job or business.

Actually I don't like the idea of relying on one job, with time things can take a drastic turn, even with your own business, in time things could change and you will lead to either abandon that business for another or find means to upgrade.
Well, I do get those who are doing fine with one job because there are high paying jobs. But if the salary is not that high, I cannot see any reason for them to not strive for a bigger salary. Some would adjust their expenses than to adjust their sources of income.

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January 14, 2023, 03:51:03 PM
 #36

However, a side job/business also takes time and efforts and can never be attained whenever we need it. What did you do or will you do in order to ensure your finanical stability despite all unfavorable circumstances ?
Now, let me ask you this.
Would you like to work your whole life where you can have a stable salary that isn't going up over the years or cultivate yourself by building your own business through the years?

For me, it's better to have your own business while you were working since you are just cultivating it to become a successful business in the future. It's not guaranteed that it will become successful over the years but the important lesson is that you learn a new course of how to handle business and if it fails you can still try to build another one or continue the old one as long as you have a money to start again.

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January 14, 2023, 04:10:02 PM
 #37


To make a living, we must work. In uncertain days like now facing the global economic downturn, a stable job with high income becomes a scarcity. A side job or business seems like more necessary than ever, which can minimize the risks of losing your current job, ending up pennyless. However, a side job/business also takes time and efforts and can never be attained whenever we need it. What did you do or will you do in order to ensure your finanical stability despite all unfavorable circumstances ?

"No effort no change" or "No pain no gain"

So if you feel the current source of income is not satisfied then you have to increase it in some way by working part time or doing side hustle or monetizing your skills in the online platform and the list becomes endless.










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January 14, 2023, 04:21:43 PM
 #38

many users are getting money in this forum through signature campaign, it's one of side job although some users might consider it as a primary job since few campaigns already run for 2-3 years.
I think the reason why forum users don't mention Signature campaigns is because they are not reliable and can stop at any time. Even some of the campaigns are running for long time. But, there is always a possibility of them to be stopping/ending at some point of time. Longer or sooner all signature campaigns eventually ends..


Signature campaign pay for around $50/week which is really good for people who live in poor country e.g. third world countries. Those poor country only pay for $50/month for a job that need to work from 8AM to 5PM.
Indeed anyone from those countries using this forum and earning some money are very unfortunate. Because, what they can earn here by participating in forum activities is not possible to earn in their real life with hard work.
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January 14, 2023, 04:34:15 PM
 #39

I wonder why there's no one mention signature campaign while every users who make a reply wear a paid signature Cheesy

@OP I will tell you, many users are getting money in this forum through signature campaign, it's one of side job although some users might consider it as a primary job since few campaigns already run for 2-3 years.

Signature campaign pay for around $50/week which is really good for people who live in poor country e.g. third world countries. Those poor country only pay for $50/month for a job that need to work from 8AM to 5PM.

Side job or business do make money, make money = improve financial. It doesn't make sense why you're asking this question.


Well noticed. And given that the forum does not prohibit alternative accounts, and some have the opportunity to participate in different subscription companies, a part-time job can be called the main job.

But seriously speaking, now there is every opportunity to get a profession on the Internet, completely apart from your main job. Freelance sites will always have offers for designers, programmers, and writers, but it takes experience to be in demand. And this is precisely what is a direct factor in the fact that you can have an income that can become your pillow in these difficult times of crisis.

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January 14, 2023, 04:43:04 PM
 #40


To make a living, we must work. In uncertain days like now facing the global economic downturn, a stable job with high income becomes a scarcity. A side job or business seems like more necessary than ever, which can minimize the risks of losing your current job, ending up pennyless. However, a side job/business also takes time and efforts and can never be attained whenever we need it. What did you do or will you do in order to ensure your finanical stability despite all unfavorable circumstances ?
The world economy is on the verge of a recession and may lead to a crisis altogether. Already, many companies, not only in crypto areas, are cutting staff, creating a shortage of jobs. Apparently, in such difficult situations, there are no other options but to look for a part-time job, increasing your income or improving your existing skills in order to offer your services more expensively in the labor market. Otherwise, macroeconomic phenomena will undermine financial stability and it is better to be prepared for them, having a side job in reserve. Better yet, several at once.
 

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