Does a side job/business improve your finanical stability ?

[Queentoshi]

Side job is good as long as you have still time to do your responsibilities and other things.

It is a side job and you are in charge so you will definitely be able to create the time for other engagements unlike working under someone who dictates your time. I will choose multiple side jobs over working a job or business provided the side job is profitable. I will even agree to have a reduction in pay if I already work a job so that I could have time to run my business or do my side Hustle. For future sake, I think the side hustle or business you do for yourself is more important than the Job you are working for someone else.

[KingsDen]

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 ?

To get to somewhat a comfortable financial condition, you need to be able to have upto 3 sources of income according to what you said in Op.
For you to be able to get more than one job, you need to have in demand skills that will enable you to multi-job.
First you have to work on yourself to improve your skills and even when  you don't have a steady job yet, money gotten from wearing signatures in this forum should be able to sustain one and help the person acquire some skills that will make the person multi-employable.

[CageMabok]

At first it was definitely not easy to divide the time in the main job and side job,
but with time I think we'll find the right formula to do both so nothing gets overlooked,
everything needs a process so here we need to have patience.

24 hours is enough time to share in life, whether it's in doing work, or in worship and resting. If you have two different jobs in your life, it means you should be grateful and should be able to share your time for this because in this world it is very rare for a company to order its employees to work 24 hours a day.

Even though the company is always open 24 hours, the company will definitely implement an employee turnover system when the time comes or at least once every 8 hours. So nothing is difficult as long as you can manage it as best you can because it is work for yourself.

[Renampun]

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.

since the pandemic hit a few years ago, I see that there is no job that can really be called stable, all lines of business are in flux, and those who survive are those who have financial independence.

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 ?

at the moment I am not tied to a job in a private company so I can do 4 side jobs that can earn me a few dollars per month. I continue to explore my potential and continue to consult with my partner and thankfully he also supports me so that I can focus on my obligations and responsibilities as well as my partner. as long as you are alive, work hard and multiply savings because no one knows what will happen next to this earth.

[stadus]

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 this case, investment is then suitable. Because what you need is to buy and hold, unlike in business where it needs time for you to manage. But if we know the law of leverage, running a business is not a problem even if you have a stable as it won't beat your time either. Having multiple sources of income is gonna be a great decision when we wanted to improve our finances but of course, we have to work hard and manage our time properly otherwise, we only just fail. And sometimes we sacrifice our time for our family.

[xSkylarx]

Side job is good as long as you have still time to do your responsibilities and other things.

It is a side job and you are in charge so you will definitely be able to create the time for other engagements unlike working under someone who dictates your time. I will choose multiple side jobs over working a job or business provided the side job is profitable. I will even agree to have a reduction in pay if I already work a job so that I could have time to run my business or do my side Hustle. For future sake, I think the side hustle or business you do for yourself is more important than the Job you are working for someone else.

Side jobs have their own boss, who is your client, but you can manage your time and choose when you are available your are still working for someone else. Also, there are specific side jobs, such as remote jobs, that require you to render for 4 hours at a specific time, but it is still considered part time. However, side jobs are not guaranteed work when compared to having a job because, first, if it is project-based, it will be gone once it is completed, and second, you can be fired or not hired anymore because there are no contracts of service on it, which means there is no assurance, unlike an 8-5 job where you have a contract. A side hustle is just an addition to our earnings, but it is not guaranteed.

[_BlackStar]

Having a side business is your way to support your financial stability for the better. Basically, when you have only one source of income, you are one step away from poverty where you cannot better support your financial stability.

Let's say you have an income of $400/month as your main salary, while you have to spend $300 on daily needs and another $100 on lifestyle. So in conclusion you are just working to survive without being able to produce anything for you in the future. So having more than one source of income will support your financial stability better.

[Sterbens]

Having a side business is your way to support your financial stability for the better. Basically, when you have only one source of income, you are one step away from poverty where you cannot better support your financial stability.

Let's say you have an income of $400/month as your main salary, while you have to spend $300 on daily needs and another $100 on lifestyle. So in conclusion you are just working to survive without being able to produce anything for you in the future. So having more than one source of income will support your financial stability better.

I personally highly recommend that we have a side business or business to support our main income. As you said, sometimes relying solely on main income will make it more difficult to manage our finances, especially when we have to incur unexpected expenses, so things like that will drain our source of income.
Having a side business won't make our time disturbed, moreover, now is the era where things are done via the internet, we can use it to do what we want to do.

[Erumo]

Side job or business only fix financial situation, they does not suppose to influence on stability. Coz such financial flow can end suddenly. Stability and suddenly does not stand close. Side financial flows are only good when you pay taxes from it. Otherwise they might worsen "financial stability".

Id suggest to find a better paid primary job and focus on then, then spend time on different jobs. Cant be good everywhere. Cant perform perfect every time. Side jobs are temporary. Dont focus and rely much on them.

[Pamadar]

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 this case, investment is then suitable. Because what you need is to buy and hold, unlike in business where it needs time for you to manage. But if we know the law of leverage, running a business is not a problem even if you have a stable as it won't beat your time either. Having multiple sources of income is gonna be a great decision when we wanted to improve our finances but of course, we have to work hard and manage our time properly otherwise, we only just fail. And sometimes we sacrifice our time for our family.

That last part of your statement, I might say not sometime, but most of the time we need to sacrifice our time if we wanted to be more successful in achieving our goals.

Being financially freedom is a task that we can achieve if we are keen to find the right ways,
having business or right investment will be the ways of improving our finances, you just need
to work hard in finding the right place and type of business/investment to use.

[MoonOfLife]

Side job or business only fix financial situation, they does not suppose to influence on stability. Coz such financial flow can end suddenly. Stability and suddenly does not stand close. Side financial flows are only good when you pay taxes from it. Otherwise they might worsen "financial stability".

Id suggest to find a better paid primary job and focus on then, then spend time on different jobs. Cant be good everywhere. Cant perform perfect every time. Side jobs are temporary. Dont focus and rely much on them.

If a person already has a main job with a high and stable income, I don't think they need to look for a side job. To find a main job with a high income is not easy, it is not always possible. It is true that a side job cannot be compared with a main job, but sometimes its income is higher than the income of the main occupation. So cherish both, don't despise either, do well for both.

[Leviathan.007]

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 ?

As some who had the experience of having 2 and then 3 side jobs I can surely say the answer depends on yourself but if you ask to be the short answer is no it can't help you to have a financial stability situation. Even if you have income from 2 other resources you will need to have a plan for your life and how you spend your money without having a plan even a side job cannot help you. Besides that, I prefer to focus on one job and become successful in it instead of having other jobs.

[Jody.Drummer]

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 ?

As some who had the experience of having 2 and then 3 side jobs I can surely say the answer depends on yourself but if you ask to be the short answer is no it can't help you to have a financial stability situation. Even if you have income from 2 other resources you will need to have a plan for your life and how you spend your money without having a plan even a side job cannot help you. Besides that, I prefer to focus on one job and become successful in it instead of having other jobs.

That's because we don't focus first on the one job we have, but if one of our jobs is running smoothly then a side job can be a better thing to do. In your story it seems that some of the people you mentioned earlier have lost their focus, I mean the work they are doing is not completely smooth and they are taking other jobs. It would surely divide and would even make a mess.
I also have stories about this, which I noticed they were too greedy and didn't try to one job be more advanced first. But in my opinion side jobs are still important to do, this depends on how we see things.

[sovie]

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 ?

As some who had the experience of having 2 and then 3 side jobs I can surely say the answer depends on yourself but if you ask to be the short answer is no it can't help you to have a financial stability situation. Even if you have income from 2 other resources you will need to have a plan for your life and how you spend your money without having a plan even a side job cannot help you. Besides that, I prefer to focus on one job and become successful in it instead of having other jobs.

That's because we don't focus first on the one job we have, but if one of our jobs is running smoothly then a side job can be a better thing to do. In your story it seems that some of the people you mentioned earlier have lost their focus, I mean the work they are doing is not completely smooth and they are taking other jobs. It would surely divide and would even make a mess.
I also have stories about this, which I noticed they were too greedy and didn't try to one job be more advanced first. But in my opinion side jobs are still important to do, this depends on how we see things.

The job I do is a new venture and most of the time I get my salary late - but since my boss supported me in good days. I don't feel like asking him money and bothering much to pay by salary on time - I have a few side hustles and they are enough to pay my bills. And yes my side business helps me alot. sometimes I even pay salary to my staff and then keep the salaries which comes to me. life goes on!

[rahmad2nd]

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 ?

One thing is for sure, almost everyone has experienced an unexpected situation, especially the moments at our lowest point in life. especially after post-covid, the Ukraine-Russia conflict, the global economic crisis, everything feels even more difficult. even to meet the demands of life, at least we have to find additional work so that everything goes on as usual.

Unfortunately, as you said. to get a stable job with high income is becoming a scarcity. especially if you don't have expertise in certain fields, you will only get worse. there is no other choice, but you focus on your goals, what you have to do and what potential can generate additional profits to increase your financial stability.
in fact, there are many ways to generate additional income. But, it all depends on how you react to it. even the simplest example, in this era you can use the internet according to your abilities and skills to generate income. but what should be remembered, nothing is easy and instant. I have my own philosophy. that the process will never betray a result.

[Cryptock]

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 ?

As some who had the experience of having 2 and then 3 side jobs I can surely say the answer depends on yourself but if you ask to be the short answer is no it can't help you to have a financial stability situation. Even if you have income from 2 other resources you will need to have a plan for your life and how you spend your money without having a plan even a side job cannot help you. Besides that, I prefer to focus on one job and become successful in it instead of having other jobs.

That's because we don't focus first on the one job we have, but if one of our jobs is running smoothly then a side job can be a better thing to do. In your story it seems that some of the people you mentioned earlier have lost their focus, I mean the work they are doing is not completely smooth and they are taking other jobs. It would surely divide and would even make a mess.
I also have stories about this, which I noticed they were too greedy and didn't try to one job be more advanced first. But in my opinion side jobs are still important to do, this depends on how we see things.

not exactly - I work from home and my job is good but the business is not profitable I am helping my company too. But yes I  now keep some side hustle too
It does help a bit in paying my bills and my fuel

[bitgov]

This is a tough question since when the pandemic hits business and also your employment is in the verges to be ended. Having savings is the answer to those unfavourable circumstances because whether your business is booming your salary is big but when Covid hits when you lose your job you will not be getting money on it same with the business but if you have savings that will last you for few more years then for sure you are still stable but having a business are you can save a lot after all the efforts you've done and your business will start to self sustain since the profit on it is huge unlike in job that it takes few years to have a small increase.

That is correct -our lives have been affected by the COVID and I am still not being able to settle myself.
I don't search for jobs anymore because I have lost trust in jobs. I want to run my small business. .. and would never work for anyone else - that is for sure

[freedomgo]

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.  

Side jobs can always be an advantage even if we have a good main source of living, especially if it’s also sustainable and is giving us significant profits. But it also depends on how we will manage our funds that will make us financially stable because no matter how profitable our side jobs are, once we never know how to manage and budget our funds, we will never be financially stable and will still struggle with our finances.

[Desmong]

We need to own a business if we want to keep becoming capable to pay bills and do other things. We can't rely on a single job to become financially capable, we need multiple jobs or our own business that we can build to become well responsible and business and financially sufficient. The world is becoming more difficult for people to leave and inflation is increasing everyday so we need to be prepared.

[Casdinyard]

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 ?

You're seeing a side hustle wrongly. For me, if you'd have to learn skills extensively to the point that it almost takes as much time as going for your regular 9-5, it's not a side hustle anymore, it's a second job, which could cause you to lose employment of both. For you to have a side hustle you must know what your skills are, or at least what your hobbies are. Then find a way to profit from it. I myself, have been a writer for 2 years now, starting from what otherwise would seem to be just a regular hobby I do to pass off time. Ultimately, my point is that your side hustle must not take too much time and effort as your regular job, that way you can still focus on both without losing your social life in the process, or your employment.