Does a side job/business improve your finanical stability ?

[palle11]

Stable finance in today's world is looking like something that will not happen to alot of people in the world with the economic problems all over the world. Majority of the people feed lower in nutrition because of better life is becoming farther, people hardly have jobs than to look for side jobs. Some side jobs have been converted to main jobs because of job loss and this can explain the point that alternative jobs are growing in homes. A family that depends on a source of living is definitely into more hard times so I think having another source of income can help but not sufficient with inflation.

[Die_empty]

Due to the global economic downturn, the only way to survive is to seek alternative means of income. My country is going through a lot of economic problems that the country's currency is losing value every day. Most enlightened people in my country are switching to freelancing jobs. And these works are available in my country because of cheap labor. Most companies in Europe and America now seeking cheap labor in Africa and they get quality staff at a very cheap rate. Compared to the remuneration of local employers, these freelancing jobs are high paying and most people are resigning from their permanent jobs because they want to focus fully on these side jobs.

[molsewid]

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 ?

I'm having a side hustle last year, but I end up they need to lay me off because of the inflation and bear market. It is really painful to have only one work or job at the moment, having an extra job can give you more income but it will also exhaust you, it will also burn you out. Right now, I'm still contacting my other friends if they have a spot in their business or anything I could fill in. It helps me to improve my budget but the return will be it is very tiring and it cause me some breakdown that last for a week.

[Synchronice]

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 ?

Side job improves your financial stability only if you can tolerate it. You can always save some money, do research and start dropshipping. Over time, you may generate 400-500 euro a month without too much effort. If you like travelling, fitness or bodybuilding or find joy in another activities, you can create a youtube channel and earn some money as you add more content and become popular.

Of course, two source of income will generate more money and more money with a smart brain leads to better income, better quality of life and independence but if it's very exhausting right now for the person and burns him out, then you should either get rid of it for a while and focus on improving your job and/or position. Because sometimes when you constantly feel like burned out, you loss interest in life and that's not something good to experience because this kind of moments makes you naysayer.

[Asiska02]

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 ?

A side job, or side hustle as some people call it, is essential in today's world. Working for the government or for a private company is not worth fully relying on, especially if you have a large family and people who rely on you for a living. You may lose your job in the private sector without explanation, but it is preferable to work in the public sector due to job security, even if the pay may not fully meet your needs.

Diversifying into a business to make extra money is critical because it will fill in the gaps that your employer's pay cannot. In a state where you are mostly preoccupied with your work, it is preferable to start a less stressful business. Working online, in my opinion, is preferable because most of this type of work can be done at your leisure. That way, you won't miss out on your initial job while still having time to work online at your leisure.

[Anonylz]

Side job improves your financial stability only if you can tolerate it. You can always save some money, do research and start dropshipping. Over time, you may generate 400-500 euro a month without too much effort. If you like travelling, fitness or bodybuilding or find joy in another activities, you can create a youtube channel and earn some money as you add more content and become popular.

Of course, two source of income will generate more money and more money with a smart brain leads to better income, better quality of life and independence but if it's very exhausting right now for the person and burns him out, then you should either get rid of it for a while and focus on improving your job and/or position. Because sometimes when you constantly feel like burned out, you loss interest in life and that's not something good to experience because this kind of moments makes you naysayer.

I don't agree with you, I mean side jobs are considered so because they usually don't consume much of your time as the main job does. A side job is what you causally do on the side without putting too much time to do it.
Take your campaign for instance, many forum members with real jobs still engage in campaigns because it is not time consuming for them, doing this will generate extra income to their pocket, and you can get this done within a few minutes without any pain.
Any side job you engage in that will be too exhausting and take too much of your time does not fit in the description of a side job. Perhaps such jobs should be considered a full time imo.

[Dickiy]

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 ?

Although it is not easy to stabilize finances for the current situation because the economic downturn and rising inflation rates make income decrease and expenses that are usually standard increase, I think if you have a wife I suggest working together so that you have two stoves of income from the work of your wife and from the wages you get, I think it will make your finances stable and not in trouble, indeed a side job is needed at difficult times like now to make ends meet every day.
I do side jobs like in this forum following the signature campaign, even though it doesn't produce much but it's enough to cover the shortfall.

[uneng]

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 ?

A side job, or side hustle as some people call it, is essential in today's world. Working for the government or for a private company is not worth fully relying on, especially if you have a large family and people who rely on you for a living. You may lose your job in the private sector without explanation, but it is preferable to work in the public sector due to job security, even if the pay may not fully meet your needs.

Diversifying into a business to make extra money is critical because it will fill in the gaps that your employer's pay cannot. In a state where you are mostly preoccupied with your work, it is preferable to start a less stressful business. Working online, in my opinion, is preferable because most of this type of work can be done at your leisure. That way, you won't miss out on your initial job while still having time to work online at your leisure.

Every extra income makes total difference nowadays. It can be a wage or half wage every month, doesn't matter, it's definitely going to be a life changer for most people. It means a educational course you were willing to do, but didn't money to pay for it, or the subscription of a service aiming your welfare, leisure or health, it can mean extra food on your table every month, the acquisition of goods for your house, the rent payment or a DCA investment. It's not that easy to find hustle jobs, though, as there are many people attempting to apply for the same spots, and there are some even fully living from side jobs' income.

[ajiz138]

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..

But but this is also a side job to increase monthly income, while the signature campaign is for people who already understand it, so let them choose which one because basically a side job is not just in this forum while the internet is wide so it has a lot of reach as long as we have skills.

It's true that there are long and short signature campaigns, but it all depends on the marketing. If it benefits a project being advertised, then it will continue to run like the campaigns we often see now.
As well as when one ends there is a possibility of the project running another campaign there is also a new one coming as marketing on the forum.

But still, for me don't  only relying on this forum is not certain, you still have to be able to run your own business, which can produce better results than signatures.

For example; merchants, content creators, designers etc or it can be in our kind of physical world.

[SquallLeonhart]

It comes down to the individual really and how much work they are willing to tolerate. Some people are happiest to go through life just doing 40 hours a week or lower, they pay their bills and accumulate a pension. Hopefully paying off the mortgage by the time they retire and managing their money frugally from that point. Other people try to hustle up extra income every day to make themselves better off financially, hopefully putting that extra money to work instead of leaving it to languish. However there is a fine line to walk when it comes to health, if you're doing 12 hour days for 6 days a week then you can burn yourself out which might be more detrimental to your health in the long run.

I think it is important to figure out which one you are before you die. I believed that I could be the person who could do the first and at a point in my life I believed I could be the one who could do the second one as well.

I can't say which one I am, I know that I am a creative person and love telling stories but I am not sure which way I should go about it, like write a book? do a comic book? do a game? write a song? Like there are a million ways you could tell a story, and I am not entirely sure how I should. This is why it's important to find what you want to do, and what type of person you are and what's your dream? If you could do that, then you would be better in the future.

[alastantiger]

Having a side hustle saved me in 2020 during the COVID-19 lockdown. It gave me extra cash and I was able to afford some essential stuff for myself as well as for those around me who were greatly affected by it. If I had not built up a side hustle as at then, I wouldn't have been able to save up enough money to see me through during that very tough period. I became less dependent on my monthly income that was slashed in half during the pandemic. Since then, my financial life has never been the same. I achieved financial stability largely because I have a side hustle.

[Viscore]

Yes, it does especially when your job does not come with a high income.  Not everyone is lucky enough to get a high paying job so having a side job to generate extra income to support your main income always helps. I know it has help me and improve my financial status for some extent. Besides, earning extra cash aside from your salary comes with certain feeling if you know what i mean.  

Having a side job is already an advantage regardless if you have high or low main source of income, because the fact that it becomes your additional income, that means you have higher chances to achieve financial stability. It’s always great when you know you can depend from not just one but two or three sources of income, that will help a lot so that you won’t face financial struggles and this will actually improve your way of living as you consistently gain good profits from different sources.

[Vaskiy]

Yes, it does especially when your job does not come with a high income.  Not everyone is lucky enough to get a high paying job so having a side job to generate extra income to support your main income always helps. I know it has help me and improve my financial status for some extent. Besides, earning extra cash aside from your salary comes with certain feeling if you know what i mean.  

Having a side job is already an advantage regardless if you have high or low main source of income, because the fact that it becomes your additional income, that means you have higher chances to achieve financial stability. It’s always great when you know you can depend from not just one but two or three sources of income, that will help a lot so that you won’t face financial struggles and this will actually improve your way of living as you consistently gain good profits from different sources.

Having a side job is a must in the present situation. In my country we have been advised to have a side income through some means apart from the routine job. In simple once a student gets out of the college he's suggested to work hard and the prime advice given is to have income from atleast three sources when he turns 30 years of age. This doesn't mean just the side job, it also means the investment and other forms of income. With this one can make himself financially stable in a much shorter time period.

[serjent05]

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.

Side jobs do improve our financial stability.  It gives or helps us in:

Additional Income
Building Savings
Increasing Income potential
Diversification of Income

The stated list above contributes to financial stability since it gives us more financial inflows. 

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 ?

To ensure our financial stability despite unfavorable circumstances we can:

Create a budget list.
Reduce debt
Save and invest
create plans for unexpected events and put a budget in it.
And asking people for advices during difficult times doesn't hurt.

[dothebeats]

It does, in a way because it serves as a supplement to your salary on your first job. While it does not automatically provide anyone financial stability, it helps you get there fast, especially if you don't have a family to feed yet and your sole responsibility is yourself.

I myself have worked on 2 - 3 jobs when I was still in college to support myself. Until I got a full-time job in the lab, I still work for different jobs that meets my skills and that can use me with a somewhat competitive compensation. It's very hard to manage time at first, but as time goes by you'll just get used to it fast.

[bestcoins1]

Having a side hustle saved me in 2020 during the COVID-19 lockdown. It gave me extra cash and I was able to afford some essential stuff for myself as well as for those around me who were greatly affected by it. If I had not built up a side hustle as at then, I wouldn't have been able to save up enough money to see me through during that very tough period. I became less dependent on my monthly income that was slashed in half during the pandemic. Since then, my financial life has never been the same. I achieved financial stability largely because I have a side hustle.

If studied in depth, in fact, under any circumstances, it would be much better if everyone could have the time to manage or open a side business in living their lives. Because it will not only save him during difficult conditions, but also give him the opportunity to achieve bigger goals when he has a lot of savings and can also give him the opportunity to make his business bigger without sacrificing his monthly salary.

Because during the COVID situation, almost everyone experienced difficulties and everyone also had their own ways of dealing with them with the aim of getting out of existing difficulties. Now it is necessary to do two different jobs that can produce, because usually a person's monthly salary is only enough to buy the necessities of daily life, while his side business is to change his difficult conditions to be more comfortable in life. In other words, a person can become rich if his side business is progressing.

[Shinpako09]

Of course, having a side job means having an extra income that you can use for paying bills, savings, etc. That will benefit you very much. Others are having more than one side job if they feel it's not enough to cover all the necessities. The cons are, it's just time-consuming and might take you away from your studies or family. The worst is, you can't focus on your main job which can lead to getting fired. You need to balance it very well so as not to affect what you are doing before.

[MarjorieZimmermanGinger]

It does, in a way because it serves as a supplement to your salary on your first job. While it does not automatically provide anyone financial stability, it helps you get there fast, especially if you don't have a family to feed yet and your sole responsibility is yourself.

Even if you already have a family, a side job/business will help anyone's financial stability, because there are two sources of financial income that can be obtained and one of these sources can be saved or invested elsewhere, say, by investing in bitcoin.

I myself have worked on 2 - 3 jobs when I was still in college to support myself. Until I got a full-time job in the lab, I still work for different jobs that meets my skills and that can use me with a somewhat competitive compensation. It's very hard to manage time at first, but as time goes by you'll just get used to it fast.

Most people have had second jobs, but this does not affect the routine work, because responsibility and integrity in the workplace are basic. The only reason we can do to increase our source of financial income is by working on the side according to our skills.

For a matter of time, we can see the potential for side jobs that don't interfere with routine work, investing in bitcoin seems better to run, because it won't interfere with our work time.

[Mauser]

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 ?

In my opinion having some form of side job is a big plus in the current times, everything is getting more expensive and our wages are not growing fast enough to offset the rising inflation. Another form of income besides our main job will make us more financial stable and help to offset any unexpected expenses. The main issue is that our side hustle is not going to impact the performance of our main job. We need to remain productive to not endanger being laid off. That is why I would recommend to spend only the weekends and maybe 1-2 hours in the evenings during the week for our side business. What I focus on for the last few month is selling some of the old furniture and other things from the house of my grandparents. They never threw anything away and have so many cool things from the past where people seem to be interested in. I take some good photos and advertise it on ebay and another website for people to bid on it. My grandmother is happy that we are cleaning out the house and I can keep 50% of the profits, win win for both of us.  

[Roggeredek]

Many businesses have nearly collapsed due to the economic downturn it will take a long time to improve financial stability as many entrepreneurs cannot run their business properly due to lack of necessary funds. But it's a good idea to have a business like job alongside other tasks, which is why half of small and medium sized businesses cite lack of funding as the main barrier to using technology. They are also concerned about the cost of complying with regulations. The financial sector needs to be strengthened so that institutions can easily meet their technological needs.