Does a side job/business improve your finanical stability ?

[BRINIRHA]

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.

Well that's a fact that happens in our lives. ie some people even complain that their income from their main job is not able to meet their daily needs for a month after inflation occurs. so people start looking for side jobs to stabilize finances in the family. and fill in the gaps. even in the end there are people who have more income from side jobs. but the point is that during a global economic crisis like now we have to be good at seeing opportunities. and looking for a part-time job with flexible time, of course, is what most people are looking for right now. Luckily, we are now in the digital age. so that we can even find a side job via a smartphone. using social media and so on.

[Merit.s]

With the way the economy is right now,it is not advisable to depend on one job,because if you do,you might end up not being able to carter for your needs or responsibilities. Having two or three jobs is the way in which you will be able to coupe with the level of inflation in the world. You can have a white collar job and a side hustle to help you balance the equation. If you have an online job and offline job,it will become easier for you to coupe with it. Though, I work with the government and still own a business that I set up,so that when am at work,someone will be there and after work, I go straight to my business place. It is not easy to have financial stability because of the up and down of life,the economy also plays a major role in financial stability.

[xSkylarx]

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.

Well that's a fact that happens in our lives. ie some people even complain that their income from their main job is not able to meet their daily needs for a month after inflation occurs. so people start looking for side jobs to stabilize finances in the family. and fill in the gaps. even in the end there are people who have more income from side jobs. but the point is that during a global economic crisis like now we have to be good at seeing opportunities. and looking for a part-time job with flexible time, of course, is what most people are looking for right now. Luckily, we are now in the digital age. so that we can even find a side job via a smartphone. using social media and so on.

We are really lucky right now compared to before because most of the side hustles right now are online, unlike before, when after you came home from your main job, you'd need to leave your home again to go to your side hustle. Right now you are just on your laptop or computer, and then you'll start earning. As long as you have skills, you can get easily hired part-time or flexibly. Though it is not easy to find it, that is why those who have those kinds of part-time jobs are so lucky, and they should keep them, as others, usually those who have families, are going to sell something after their job to have extra income.

[isaac_clarke22]

~

Three jobs might not be the play although you mentioned "or". Freelancing along with your usual 9-5 is already stressful and almost take all of your time because the usual rest time you will have will be invested instead to your freelancing work.

I had encountered this kind of stress in my freelancing journey in Upwork. Quite tedious start, but somehow I was able to push through it. If you are in a third world country, it surely works since you will be paid in dollars and that's going to be of a high value if converted your local currency.

[coupable]

In many cases, a side job is not an option as much as it is a need imposed by life circumstances. In general, those who do a side job are, in the vast majority, employees of government or private institutions whose income is not sufficient to achieve comfortable self-sufficiency. Self-employed people often do not need this, as they can develop their field of work to obtain additional income.
Today, thanks to the Internet, it has become easier to get a side job on the Internet without the need to move around and be present at a workplace. At least this will reduce the physical stress since doing two physically demanding jobs on the same day is a very tiring task.

[meser#]

The economic situation of some countries does not require side jobs, while others do. If I were to speak for my own country Turkey; unfortunately, one salary is not enough with high inflation. If we compare the price of a year ago and this year, it has at least doubled. Although salaries increase with the new year, they become worthless in a short time with this inflation. Currencies such as the dollar and the euro are almost 1/20. Under these hard conditions, Turkish people needs more than one side job. Unfortunately, these side jobs doesn't provide financial stability for us, these just make it easier to endure these hard conditions.

[GideonGono]

For me it isn't just about side job/business you should also learn how to manage your money.
Even if you are earning more or huge amount if you don't know how to manage it, it would just be useless.
I am not saying that side job/business doesn't help your financial stability it is just that some people doesn't know how to handle their income even if they are earning enough, they couldn't save up due to the lifestyle that they are living.

[Pejoh Asu]

If you work and feel enough then you will not be interested in looking for a side job/business, but I suggest looking for multiple sources of income, the future economy will be difficult to predict and according to expert estimates that economic recessions will occur frequently, of course a side job/ business depends on our time and ability, we can be helped if we have a side job/business.

[CapGelatik]

If you work and feel enough then you will not be interested in looking for a side job/business, but I suggest looking for multiple sources of income, the future economy will be difficult to predict and according to expert estimates that economic recessions will occur frequently, of course a side job/ business depends on our time and ability, we can be helped if we have a side job/business.

Actually not really because in reality many people are already rich but they still have a side business,
I think it's important to have more than one source of income, especially since we never know what the future will be like,
but it all depends on each individual's decision because everyone has their own decision.

[Marcellin9]

If you work and feel enough then you will not be interested in looking for a side job/business, but I suggest looking for multiple sources of income, the future economy will be difficult to predict and according to expert estimates that economic recessions will occur frequently, of course a side job/ business depends on our time and ability, we can be helped if we have a side job/business.

Actually not really because in reality many people are already rich but they still have a side business,
I think it's important to have more than one source of income, especially since we never know what the future will be like,
but it all depends on each individual's decision because everyone has their own decision.

Financially speaking, it is always good to have a side job/business to back up any unforseen emergency needs. After viewing so many comments, a lot of you have mentioned this but nobody has ever brought up the mental benefits a side job/business brings. Our mindset is pretty much like a machine. Once it runs smoothly and consistently, it will be more likely to decrease the chances of dysfunction and increase the lifespan. Another stream of income from side job/business not only brings a sense of financial security but also boosts one's confidence to be more active in doing what has been done well. The combination of both generates more benefit in the long run.

[ivankoh]

Yes, Prices, food, food increase but wages increase very slowly or increase intensity due to work pressure.  To ensure the quality of life, getting a side job is something everyone wants.  The difficulty is that many side jobs, part-time, commission businesses are highly competitive, due to higher unemployment rates after the covid19 crisis.  Some people experiment with inappropriate and unproductive types of side work and get frustrated, And I am one of them...  Or need to balance time between main work and side work while ensuring work productivity and efficiency.  if not?  they may lose all their work.  Lol, i think it is also difficult for workers nowadays.

[fadhilz123]

If you work and feel enough then you will not be interested in looking for a side job/business, but I suggest looking for multiple sources of income, the future economy will be difficult to predict and according to expert estimates that economic recessions will occur frequently, of course a side job/ business depends on our time and ability, we can be helped if we have a side job/business.

Feeling satisfied with the results of the main job will not guarantee that someone will become rich because he also needs to spend money for his life every day so that I think side jobs are still very much needed now. Especially if you say that everyone needs to earn a lot of income for themselves and that clearly cannot be obtained easily or from just one job because there is always an income measure for each job. We can see examples of big businessmen like Elon Musk who have managed more than one business and he is now one of the richest people in the world.

Actually not really because in reality many people are already rich but they still have a side business,
I think it's important to have more than one source of income, especially since we never know what the future will be like,
but it all depends on each individual's decision because everyone has their own decision.

What you say is true, because of all the business people in this world. On average they become successful by running more than one job and we can take that as an example that work doesn't have to depend on a place or job because that won't be enough to make someone rich or successful faster. So it is very important to get more than one job for better income to enjoy a more beautiful future.

[sulendra12]

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 ?

It's always a nice thing to have side income/passive income to backup your main income in case your main income does have issues and you probably need another source of income for your daily bill. The great thing about side income is that you are the boss so you are free to do it whatever you can do with whatever thing you have in that side income. Sure it takes lot of time and efforts to do it, but many people have successfully do it and the income from side income is surpassed the main income in long run if they can manage it really well. It does surely improve your finance.

[Marcellin9]

Yes, Prices, food, food increase but wages increase very slowly or increase intensity due to work pressure.  To ensure the quality of life, getting a side job is something everyone wants.  The difficulty is that many side jobs, part-time, commission businesses are highly competitive, due to higher unemployment rates after the covid19 crisis.  Some people experiment with inappropriate and unproductive types of side work and get frustrated, And I am one of them...  Or need to balance time between main work and side work while ensuring work productivity and efficiency.  if not?  they may lose all their work.  Lol, i think it is also difficult for workers nowadays.

An excellent point from the perspective of being"doable" or not. I wouldn't say it is impossible to balance between a side job and the main work but it is difficult. Your point is focused on whether ensuring work productivity and efficiency(the main work) but my perspective is on ability/suitability to do certain side jobs. Let's say, you are a computer engineer and generally perform well at work. Somehow you feel unsafe in this ecomomic situation and then find a  side job as a waiter in a restaurant. Being a waiter does not need many skills except for your communication and serving people attitude. However, most comupter engineers are not good at interacting with people and definitely prefer an esay job to make extra money. Do you think they can shift between those two roles easily ? I doubt it. Even if they can, the sacrifice is too big compared to the little money earned.

[Lubang Bawah]

Right now I work at a lawyer because I am a law graduate, I also get a side job, for example, helping to take care of land documents, and in my opinion I am very helped by the existence of a side job, 2 or 3 years I plan to open my own office and is currently the licensing stage , of course a side job/business can improve our financial.

[Poker Player]

Definitely yes. What usually happens is that you have a job with which you cover expenses, or maybe you save a little and then you get a side job or two. With those side jobs you can save and invest a lot more, even increasing your spending level.

When someone wants to progress economically, the first thing they think about is saving, increasing income (while keeping expenses under control) is much better.

If you work and feel enough then you will not be interested in looking for a side job/business, but I suggest looking for multiple sources of income, the future economy will be difficult to predict and according to expert estimates that economic recessions will occur frequently, of course a side job/ business depends on our time and ability, we can be helped if we have a side job/business.

Actually not really because in reality many people are already rich but they still have a side business,
I think it's important to have more than one source of income, especially since we never know what the future will be like,
but it all depends on each individual's decision because everyone has their own decision.

Exactly, I will not tire of repeating it, rich people have several sources of income. Having only one is too risky.

It never hurts to have income from several sources, although there is usually one that accounts for 80% or more of income.

[Rockstarguy]

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 economy crisis is almost in every country in the world. When inflation has made one's income not to be enough to solve financial problems,  I think theirs no other option to seek for another opportunity that can bring money in to balance life. I believe it is a good step for individuals to get some other things doing to better live because folding the hands and wait to see if things will get better is a big risk that no knows how tomorrow will be, if it will be better or not. It is better we take a step and follow the economy the way it is going to be alright financially.

[DOH!]

The main job of each person is different, which means that the nature and characteristics are also different.  But if there is a side job to do, it would be great.  That is really the expectation of every worker.  I also want to find another side job to earn extra income during these difficult economic times.  But I worry that my main job is very stressful, and the trend of most businesses and companies is to reduce personnel, so I have to focus on maximum productivity and always complete the job well to ensure my work the main work.  That is really difficult.

[autumnleaf]

Having a second side job is absolutely necessary in these economic downturn where commodities prices are rising, especially if you're a family man. Having a little business or a part-time job in addition to our regular jobs is great in order to pay for our daily costs. Living in a low-income neighborhood where prices are always growing is difficult, thus it is essential to have at least a side job to increase financial stability.

[livingfree]

Right now I work at a lawyer because I am a law graduate, I also get a side job, for example, helping to take care of land documents, and in my opinion I am very helped by the existence of a side job, 2 or 3 years I plan to open my own office and is currently the licensing stage , of course a side job/business can improve our financial.

Good luck with your future plans of opening your law office.

Whenever I go into an office as well, I see those people that do side hustle and asks for someone for their help and in return, there's of course the payment that they're anticipating.

It's actually a good hustle and big help especially for those people that don't have a lot of time to process all of those documents that they have.

Someone who's being helped, saves a lot of time and as well as a lot of money.