Does a side job/business improve your finanical stability ?

[gunhell16]

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 are many employees in this era who are looking for a part-time job in addition to their work, because the salary is not enough for the needs and monthly expenses of their lives, especially if they are family people.

If you can do some sideline jobs, you can do that, especially if you have been doing it for a long time at the same time as being an employee, because that is part of your other expenses or covering other bills, so I can say that this is a way I can say that at least your income is stable, and at least if you lose your job you have a reserve somehow.

[Fara Chan]

And apart from a side job/business, we actually have to have sufficient knowledge to carry out all of these things, we need sufficient material/knowledge and knowledge to get started, courageous determination and optimal hard work greatly affect it, both before and now of course good skills really determine how efficient the side business is.

Knowledge is also an initial capital besides money, energy, time and thoughts as I mentioned above. Because without sufficient knowledge, of course a person will not be able to run any business in his life even though he has provided money, thoughts, time and energy within himself to start a business. Because often some people don't start a side business, not because they don't have the four aspects I mentioned above, but because they don't have enough knowledge to start one.

That's why people who may continue to run a side business/business even though they don't fulfill these aspects experience a lot of losses, adequate knowledge or knowledge and insight becomes the main role in this matter, maybe apart from some of these factors have capital in the form of money energy and time are also aspects that cover all aspects of doing business and also a side business.

the experience I got from some of the crew, in terms of doing business they prefer to delay and the factor is they just want to gain sufficient knowledge to avoid the risk of loss.
what is the main attraction here is that apart from having capital in the form of money, hard work, courageous determination to start (a business) and time, I feel that knowledge is one of the main keys here. This business / side business is indeed effective to do when we have mastered these aspects.

[molsewid]

not all the business needs much investment - when COVID hit - many people started their side hustle from their home and they earned so much with zero investment
The side hustle needs dedication and that is the only thing which can make a business successful

There's affiliate marketing which is already known. You don't have to invest in stocks and products. The logic and simplest explanation of it is that you'll be promoting others' products and you need to use their affiliate link for you to have it count when someone clicks and buys the product you endorsed.
This is a side hustle but if you're able to make it your main niche and focus on the way of marketing it. You'll be able to earn a lot of passive income from it especially if you've made an interesting article/blog or video introducing the product and it gets viral.

Hmmm I think it is called PPC, I tried it last time and it is kinda hard for me since not all people will click your link. It is not like that one in the previous years, here in present they need to buy using your link, clicking your link can give you cents but it has maximum amount that you can earn by that. I earn something last pandemic when the market is slightly stable and many people wants my services but this year when bear market hits I lost all of them.

[Obari]

I was always told that no rich man made it out of salary and on proper looking at the above saying, you'll agree that it's true.
Just as OP said, salary isn't a way out that's if there are works to earn you salary especially in my country and people are already seeking for ways to thrive and earn a living amidst all the hardship and recession going on now.
I've read comments on this thread and I've seen how much people talk about diving into the digital world forgetting that the more people come into tis space, the less chances we get to be paid.
I personally would encourage people to go into agriculture because over the years agriculture has been undermined despite how lucrative it has proven to be.
Agriculture just like any other business, requires capital and the higher the capital inputted the higher the return is expected to be. So rather than talking people into coming online I would advice that we sive more into agriculture since it's produces are always in constant demand.

[Aanuoluwatofunmi]

Side jobs are often refered to as menial jobs that give a steady source of income to individuals in other to be able to adapt a living affordability, it is well known that having a single source of income does not really solve the financial demands with most families since the needs are never ending and the demands for it in always increasing as well, we could see the impact of inflation and how it has affected many business economy with diverse challenges in today's market, one must take this as an opportunity to work and make an extra means of earnings to be able to meet up to the required standard and demanding needs arising within the household and the economy at large.

[Fivestar4everMVP]

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

The importance of a side job, or better put, a side hustle can never be over emphasized, based on the current economic situations we find ourselves, i think personally consider it a mistake to depend on one source of income, the cost of living is off the roof, and so are customers hard to find because most of them can no longer afford the things they normally used to..
So to ensure that we keep our heads afloat financially, finding multiple streams of income and swimming in it is very important, if you are into cryptocurrency trading, dont just depend on that, look for other way you can make extra money, this could be outside or still inside crypto, does not matter, just make sure to find something legitimate to add to that which you are currently earning from, this is one of the ways to ensure financial stability.

[Davidvictorson]

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 ?

Many side jobs are microbusinesses; nonetheless, a side job is not the same as starting a business or changing careers. It necessitates specialization. It is the most important component. Find a niche and thrive at it. When your company grows large enough, you will begin to see financial stability. It will take hours of hard work. I've been working side hustles for years, and the major motive is money, followed by the satisfaction of completing a task when I want to. I'm not bound by a strict timetable or a boss that demands that tasks be completed by a certain hour.

[BigBos]

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 ?

Many side jobs are microbusinesses; nonetheless, a side job is not the same as starting a business or changing careers. It necessitates specialization. It is the most important component. Find a niche and thrive at it. When your company grows large enough, you will begin to see financial stability. It will take hours of hard work. I've been working side hustles for years, and the major motive is money, followed by the satisfaction of completing a task when I want to. I'm not bound by a strict timetable or a boss that demands that tasks be completed by a certain hour.

Specialization may be very important in this section but here we can make two focuses which are creating a new business or selling services, I often see people who already have jobs in a company they take jobs in other businesses that are part time such as restaurant waiters, coffee shop waiters or an ecommerce affiliate and I don't think it requires special specialization in a certain field, but if the side job you choose is graphic design, content creator, air conditioning service and others maybe it requires special skills to be involved in that field.

[salad daging]

Specialization may be very important in this section but here we can make two focuses which are creating a new business or selling services, I often see people who already have jobs in a company they take jobs in other businesses that are part time such as restaurant waiters, coffee shop waiters or an ecommerce affiliate and I don't think it requires special specialization in a certain field, but if the side job you choose is graphic design, content creator, air conditioning service and others maybe it requires special skills to be involved in that field.

I think they take a second job is to get more wages but I think it's good because he works hard in other jobs or you can say business in two different ways, well this skill is needed by them in certain fields but for restaurant waiters or in the coffee shop requires a lot of part time and not on the side except in ecommerce affiliates or in other digital fields that need the rest of the time at home after finishing work from the company.
Running a job and business requires focus in carrying it out because our minds will be drained in doing what has become a task but for me it remains in our desire what about the field that is usually tireless if he likes the investment business or the design field graphic or content creator.

[og kush420]

Specialization may be very important in this section but here we can make two focuses which are creating a new business or selling services, I often see people who already have jobs in a company they take jobs in other businesses that are part time such as restaurant waiters, coffee shop waiters or an ecommerce affiliate and I don't think it requires special specialization in a certain field, but if the side job you choose is graphic design, content creator, air conditioning service and others maybe it requires special skills to be involved in that field.

I think they take a second job is to get more wages but I think it's good because he works hard in other jobs or you can say business in two different ways, well this skill is needed by them in certain fields but for restaurant waiters or in the coffee shop requires a lot of part time and not on the side except in ecommerce affiliates or in other digital fields that need the rest of the time at home after finishing work from the company.
Running a job and business requires focus in carrying it out because our minds will be drained in doing what has become a task but for me it remains in our desire what about the field that is usually tireless if he likes the investment business or the design field graphic or content creator.

As long as you are able to manage both the jobs - you should keep them side by side
Some people think content creation is an easy job which is not . . .  however smart workers and the honest worker don't repent

[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 ?

Many side jobs are microbusinesses; nonetheless, a side job is not the same as starting a business or changing careers. It necessitates specialization. It is the most important component. Find a niche and thrive at it. When your company grows large enough, you will begin to see financial stability. It will take hours of hard work. I've been working side hustles for years, and the major motive is money, followed by the satisfaction of completing a task when I want to. I'm not bound by a strict timetable or a boss that demands that tasks be completed by a certain hour.

I think one should give their best to the job but do not forget that job many end sooner or later.
One should have a side. hussle small or big to support the other expenses.
I realized that late but that helped me survive.

[Desmong]

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 ?

Many side jobs are microbusinesses; nonetheless, a side job is not the same as starting a business or changing careers. It necessitates specialization. It is the most important component. Find a niche and thrive at it. When your company grows large enough, you will begin to see financial stability. It will take hours of hard work. I've been working side hustles for years, and the major motive is money, followed by the satisfaction of completing a task when I want to. I'm not bound by a strict timetable or a boss that demands that tasks be completed by a certain hour.

I think one should give their best to the job but do not forget that job many end sooner or later.
One should have a side. hussle small or big to support the other expenses.
I realized that late but that helped me survive.

I am more interested in side businesses to make my income steady and to keep paying bills . We cam not rely on a single business to stay safe because the market is somehow competitive and you will have to be brave and into different things for you to be safe.
Just like when COVID-19 came and take all that we have making many persons to lose there businesses and job ending in penury.

[Fortify]

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 ?

Besides millionaires and billionaires who inherited their wealth, most self made rich people got their by hustling. They tried out many different strategies and combinations over time before landing on a special configuration that worked for them. You need to find the right balance when working on a side hustle, if you're putting a huge amount of time into it and not getting much value back from it, then you need to think how to optimize it or maybe just move on to try something else. However it can help build the right mentality or you might be willing to put up with getting under paid for a short time if it's funding a different project that you think might be more successful. A lot of people had to put up with a boring grind before figuring out what works or reaching a certain level of success.

[Mahanton]

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 ?

Besides millionaires and billionaires who inherited their wealth, most self made rich people got their by hustling. They tried out many different strategies and combinations over time before landing on a special configuration that worked for them. You need to find the right balance when working on a side hustle, if you're putting a huge amount of time into it and not getting much value back from it, then you need to think how to optimize it or maybe just move on to try something else. However it can help build the right mentality or you might be willing to put up with getting under paid for a short time if it's funding a different project that you think might be more successful. A lot of people had to put up with a boring grind before figuring out what works or reaching a certain level of success.

Some people believe that riches doesnt really come from hard work and lots of effort and time that had been spent.It is really just that they've become able to hit up the right spot and this is why they are
on that point on which they do have lots or tons of money.Well, not all arent really that luckily be able to achieve that state because in every business it doesnt really guarantee about success.
We are thriving to have some side income for us to have some back up funds in case for emergency or for investment which it would be common sense that it would really be a big
help but of course it would be depending on how you are dealing with it.

[blockman]

I am more interested in side businesses to make my income steady and to keep paying bills .

There are side hustles that you can do during your pastime and just do it like a part-time and the same goes for a part-time job. But if you prefer to have a side business, like a really small one and you're stable with it then keep on doing it. There might be a time that you won't be doing it any longer as part-time because it has already expanded and grown for which you can replace your full-time job with that side business and you're going to do it full-time then.

We cam not rely on a single business to stay safe because the market is somehow competitive and you will have to be brave and into different things for you to be safe.
Just like when COVID-19 came and take all that we have making many persons to lose there businesses and job ending in penury.

Well, many can't do business, and doing a job and having multiple of it will also solve the problem that you're facing in terms of lacking in finance. Yeah, side hustles, whether business or a job, keep rocking it and do yourself a favor.

[Marcellin9]

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 ?

Besides millionaires and billionaires who inherited their wealth, most self made rich people got their by hustling. They tried out many different strategies and combinations over time before landing on a special configuration that worked for them. You need to find the right balance when working on a side hustle, if you're putting a huge amount of time into it and not getting much value back from it, then you need to think how to optimize it or maybe just move on to try something else. However it can help build the right mentality or you might be willing to put up with getting under paid for a short time if it's funding a different project that you think might be more successful. A lot of people had to put up with a boring grind before figuring out what works or reaching a certain level of success.

You've made an excellent point. "Keep looking, don't settle" mentality actually not only helps people stay active and energetic but only provides a healthy way to any personal success. No one would find their own way or success without a series of trial and error. The difficult part of this process lies in losing the passion and motivation during the transition period. Apart from this, even you've reached some certain level of success, how to maintain that status would be much harder.

[19Nov16]

For me a side job/business of course improve my financial, I've done a side job and I've done it for more than 4 years, I live near the beach and currently market 5 houses for daily rent, I can earn money at least 30% of monthly salary even when session is busy I can get 3x of monthly salary. of course not everything goes according to plan, I have also replaced damaged or stolen items worth 3 months of the house rental income.

[bettercrypto]

For me a side job/business of course improve my financial, I've done a side job and I've done it for more than 4 years, I live near the beach and currently market 5 houses for daily rent, I can earn money at least 30% of monthly salary even when session is busy I can get 3x of monthly salary. of course not everything goes according to plan, I have also replaced damaged or stolen items worth 3 months of the house rental income.

  Do you have 30% on 5 houses that are rented out daily? what is this do you rent it or your apartment? or you are an employee that you have 30% of every rent daily, right?

For me, it's really good that you have another sideline job apart from your job as an employee. With today's expensive prices and bills, monthly billings will not be enough for just one employee's salary.

[Kelvinid]

We can take a picture of the continuous market inflation as a thing that pushes us to work hard and get another source of income if possible.
Side job, business, etc -all of these things help a person to grow their financial capability and can provide a better life. Those who could understand the situation and are able to prepare for the future will really take any of them.

In fact, as we can see rich people have multiple sources of income. We can do the same even just an employee who has many side hustles as this is the way to avoid financial problems.

[Renampun]

...

You've made an excellent point. "Keep looking, don't settle" mentality actually not only helps people stay active and energetic but only provides a healthy way to any personal success. No one would find their own way or success without a series of trial and error. The difficult part of this process lies in losing the passion and motivation during the transition period. Apart from this, even you've reached some certain level of success, how to maintain that status would be much harder.

many people say maintaining a business is more difficult than starting it because it requires regular consistency, I agree with that because whatever you do (permanent job - side hustle - business) requires strong goals and motivation from yourself.

For me a side job/business of course improve my financial, I've done a side job and I've done it for more than 4 years, I live near the beach and currently market 5 houses for daily rent, I can earn money at least 30% of monthly salary even when session is busy I can get 3x of monthly salary. of course not everything goes according to plan, I have also replaced damaged or stolen items worth 3 months of the house rental income.

I'm still curious about the business you run, this is very new to me (maybe I or someone else can imitate it), do you rent other people's houses and then rent them back to guests who just stop by around your place (because you said you live near the beach)?