Does a side job/business improve your finanical stability ?

[Wong Gendheng]

If we want to be successful then we have to look for many sources of income, don't let our time be wasted because we feel that we have enough with 1 source of income, there are many things we can do and the easy thing of course is to find a source of income according to our expertise, for example if we become employees with a monthly salary so we have time when we are on vacation by looking for sources of income that are easy for us to do.

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[serjent05]

If we want to be successful then we have to look for many sources of income, don't let our time be wasted because we feel that we have enough with 1 source of income, there are many things we can do and the easy thing of course is to find a source of income according to our expertise, for example if we become employees with a monthly salary so we have time when we are on vacation by looking for sources of income that are easy for us to do.

I highly agree.  Time is very important, the reason why many say it is gold but I believe it is more precious than gold.  Because time enables us to do things and change our lives through hard work and smart planning.  Instead of lazing around, we should always be active in things that can give us profit or earnings.  Just like having a side job or business can make us earn more money, save more money and have more capability to invest in profitable ventures.  So don't let the opportunity pass us by just because we have a job that can sustain us.  More earnings are always better, IMO.

[Z390]

Nothing beat multiple sources of earnings , you will be able to pay your bills and have good amount of money to play around with, see I am able to toy with crypto investment because I make a good amount of money from a different side jobs, different from my office job. I am able to build more than two crypto portfolios for the next bull market because of my income.

[Pamadar]

Nothing beat multiple sources of earnings , you will be able to pay your bills and have good amount of money to play around with, see I am able to toy with crypto investment because I make a good amount of money from a different side jobs, different from my office job. I am able to build more than two crypto portfolios for the next bull market because of my income.

A good way to spent your money, investment can bring more money if you manage to locate the right business or industry to put your spare that comes from your other sources of income.

If you succeed in finding the right investment, it will serve as another source for you, it will grow and
multiply, and with good knowledge you will invest it more to other investment to find more ways to
earn more.

[serjent05]

Nothing beat multiple sources of earnings , you will be able to pay your bills and have good amount of money to play around with, see I am able to toy with crypto investment because I make a good amount of money from a different side jobs, different from my office job. I am able to build more than two crypto portfolios for the next bull market because of my income.

True, with extra earnings, it is easier to move funds from one investment to another.  Having an extra job means multiple earnings where we can save money, pay bills and pay debt with extra funds in hand.  It also makes our financial situation stable since we are able to pay for everything we need and still got extra so save for future use, and enjoy extra spending money.  But of course, it is always better to balance things out.  We should also consider our health condition if we can really take multiple jobs/business without harming our health.

[erep]

If you succeed in finding the right investment, it will serve as another source for you, it will grow and
multiply, and with good knowledge you will invest it more to other investment to find more ways to
earn more.

It is very difficult to find the right investments to guarantee income from other sources, so there are three types of investments that can benefit including gold, property and crypto investments, even though they are risky, we must diversify our investments with greater capital for gold investments because there is no risk of high losses and the rest is distributed investing in property and crypto. For crypto investments I use capital from other sources of income and it has no effect on the main asset in the savings.

[Cryptock]

If you succeed in finding the right investment, it will serve as another source for you, it will grow and
multiply, and with good knowledge you will invest it more to other investment to find more ways to
earn more.

It is very difficult to find the right investments to guarantee income from other sources, so there are three types of investments that can benefit including gold, property and crypto investments, even though they are risky, we must diversify our investments with greater capital for gold investments because there is no risk of high losses and the rest is distributed investing in property and crypto. For crypto investments I use capital from other sources of income and it has no effect on the main asset in the savings.

during the hardest time of my life- when I was struggling with so many things. I started an Airbnb project in my friends apartment.
I was in bad condition - but it give me a sense of satisfaction - although it's not much profitable - but it does help me pay off my bill and I made some good friends too.

[shinratensei_]

it's common sense that the key of becoming rich isn't exactly saving up your money for many decades it's to increase your income and have many sources of income incase one of them falls.
in this case if the side job is increasing your income of course it will increase your financial stability, it's just no brainer, but the problems arise only if the side hustle that you did potentially disrupt your main job that gives you biggest share of incomes, but if the side hustle has more potential of generating money for you, then I guess it's all good. you could even abandon your main job if your side hustle turning out to be something big.

[og kush420]

it's common sense that the key of becoming rich isn't exactly saving up your money for many decades it's to increase your income and have many sources of income incase one of them falls.
in this case if the side job is increasing your income of course it will increase your financial stability, it's just no brainer, but the problems arise only if the side hustle that you did potentially disrupt your main job that gives you biggest share of incomes, but if the side hustle has more potential of generating money for you, then I guess it's all good. you could even abandon your main job if your side hustle turning out to be something big.

even if it donest make you rich - it gives you some cushion to pay off your expenses.

[pantek talacuik]

it's common sense that the key of becoming rich isn't exactly saving up your money for many decades it's to increase your income and have many sources of income incase one of them falls.
in this case if the side job is increasing your income of course it will increase your financial stability, it's just no brainer, but the problems arise only if the side hustle that you did potentially disrupt your main job that gives you biggest share of incomes, but if the side hustle has more potential of generating money for you, then I guess it's all good. you could even abandon your main job if your side hustle turning out to be something big.

even if it donest make you rich - it gives you some cushion to pay off your expenses.

So from what I catch that you will take one of the options to make you survive or be rich with what you have. You say that if your second job was more convincing and profitable you would leave your first job. it makes sense for some people to look for things that make money easier.

[lizarder]

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.

We can ignore the narrow-mindedness that keeps pushing someone to work part time and be tied to the system they don't have any freedom, on the other hand people choose to work anything to generate income and even if it's small, because they have a big responsibility towards their family, while the system and any rules will never affect them.

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 ?

Anyone can build a business, it doesn't matter big or small, because the most important thing is that someone must be able to analyze what business is suitable for them to develop, because building a business requires skills and networks as reinforcement. I never believed in instant jobs, because everyone needs a process to develop whatever they want.

[White pawn]

it's common sense that the key of becoming rich isn't exactly saving up your money for many decades it's to increase your income and have many sources of income incase one of them falls.
in this case if the side job is increasing your income of course it will increase your financial stability, it's just no brainer, but the problems arise only if the side hustle that you did potentially disrupt your main job that gives you biggest share of incomes, but if the side hustle has more potential of generating money for you, then I guess it's all good. you could even abandon your main job if your side hustle turning out to be something big.

In a lot of cases, the side jobs have proven more profitable and lucrative than the main job. And obviously, if your side jobs becomes more profitable, then you’ve got to lay out your priorities. Make the side job your main hustle and turn the main one into a side gig. One would obviously put more effort into what’s giving him more money.

Saving alone can not help you beat the economic downturn and inflation all over. You need several sources of income to comfortably live in our inflation riddled economy. Getting a second job or a side hustle isn’t overrated as it has now become important.

[odunybiz]

Side job has helped me in so many ways. Through it I have made some savings and it has also helped in paying some bills before my main salary arrive at month end. It's good to have a side job as an alternative I'm case there is a fuck up in ones main job.

[Ojima-ojo]

We human must not depends on a single source of income such as office job. I think being self employed would be more profitable and keep you off from financial stress, even though you must work in an office then it's best ideal to have multiple stream of income in other not to be affected much financially. Those working in an office are highly exposed to lose their job at any given time, most times having a skillful works also help you much as well, where you could also renders your services and get paid for the particulars task or skill.

Being your own boss have multiple benefits to the extent that a self-employed individual can easily manage his time and make it flexible to accommodate a side hustle for extra income.

But what we must note is that a side hustle also requires time investment and how you manage that time in building the stream matter the kind of result you get.

It is far better to have one good source of income than to have multiple sources of income streams to will lead you into confusion later in the job.

[og kush420]

We human must not depends on a single source of income such as office job. I think being self employed would be more profitable and keep you off from financial stress, even though you must work in an office then it's best ideal to have multiple stream of income in other not to be affected much financially. Those working in an office are highly exposed to lose their job at any given time, most times having a skillful works also help you much as well, where you could also renders your services and get paid for the particulars task or skill.

Being your own boss have multiple benefits to the extent that a self-employed individual can easily manage his time and make it flexible to accommodate a side hustle for extra income.

But what we must note is that a side hustle also requires time investment and how you manage that time in building the stream matter the kind of result you get.

It is far better to have one good source of income than to have multiple sources of income streams to will lead you into confusion later in the job.

but being your own boss brings in so much responsibilities to you as well. You are cleaner - manager - cashier of the business at the same time

[Cryptock]

it's common sense that the key of becoming rich isn't exactly saving up your money for many decades it's to increase your income and have many sources of income incase one of them falls.
in this case if the side job is increasing your income of course it will increase your financial stability, it's just no brainer, but the problems arise only if the side hustle that you did potentially disrupt your main job that gives you biggest share of incomes, but if the side hustle has more potential of generating money for you, then I guess it's all good. you could even abandon your main job if your side hustle turning out to be something big.

In a lot of cases, the side jobs have proven more profitable and lucrative than the main job. And obviously, if your side jobs becomes more profitable, then you’ve got to lay out your priorities. Make the side job your main hustle and turn the main one into a side gig. One would obviously put more effort into what’s giving him more money.

Saving alone can not help you beat the economic downturn and inflation all over. You need several sources of income to comfortably live in our inflation riddled economy. Getting a second job or a side hustle isn’t overrated as it has now become important.

in my case it has not given me financial stability but I am able to pay off my bills and utilities and that is it
side hustle is beneficial only if you are doing it from scratch - and cutting all the costs then you are successful

[n0ne]

We human must not depends on a single source of income such as office job. I think being self employed would be more profitable and keep you off from financial stress, even though you must work in an office then it's best ideal to have multiple stream of income in other not to be affected much financially. Those working in an office are highly exposed to lose their job at any given time, most times having a skillful works also help you much as well, where you could also renders your services and get paid for the particulars task or skill.

Being your own boss have multiple benefits to the extent that a self-employed individual can easily manage his time and make it flexible to accommodate a side hustle for extra income.

But what we must note is that a side hustle also requires time investment and how you manage that time in building the stream matter the kind of result you get.

It is far better to have one good source of income than to have multiple sources of income streams to will lead you into confusion later in the job.

but being your own boss brings in so much responsibilities to you as well. You are cleaner - manager - cashier of the business at the same time

Being our own boss makes the profession more interesting and it push us to go ahead and perform better and better over time. In simple, when we experience good profit or success out of reaching a level, the happiness and excitement will be different and that can't be enjoyed from the day job. The risk is high, but the feel is different and atleast for this everyone should try to be their own boss.

[Theones]

Not really owning a business but as you've said having multiple jobs.

You can be employed with several employers as a freelancer and work with all of them with the same skill that you've got. But to be on this type of situation will require you vast experienes and confidence that you can deliver what the clients are asking you.

For skilled people, specially those that have in demand skills, they're the most desirable in the gig marketplace as they're like the performance/output based jobs.

Surely, skilled people will always have their advantage since they can be well compensated if their employers become satisfied with their performance.

And the employers don't have to spend time and money for trainings because they already know what the job will be. So, it both saves them time and it'll be easy for the new hiree to get onboard by being skilled and experienced.

But I believe even if you got multiple sources of income, as long as you cannot manage your finances well, and you keep on spending on unnecessary items, you will never be stable financially and worst is you may even drown from a debt.

I cannot argue with that because I also believe that financial literacy depends on people. Even if you're the most and highest paid employee but you are financial illiterate, you're going to have hard time in managing your finances and will still end up being unstable.

And someone who doesn't earn that much but are good in budgeting, he'll be able to win against that someone who earns a lot but don't know how to budget.

Because the thing here and reality is that, if you're earning more, your lifestyle is also improving so you have to sustain that.

Rich people who making good money using those platforms to make some good profits, those who are willing to explore and take chances.
These are daring people and take risks - but having said that they keep their mind and heart open

[pantek talacuik]

We human must not depends on a single source of income such as office job. I think being self employed would be more profitable and keep you off from financial stress, even though you must work in an office then it's best ideal to have multiple stream of income in other not to be affected much financially. Those working in an office are highly exposed to lose their job at any given time, most times having a skillful works also help you much as well, where you could also renders your services and get paid for the particulars task or skill.

Being your own boss have multiple benefits to the extent that a self-employed individual can easily manage his time and make it flexible to accommodate a side hustle for extra income.

But what we must note is that a side hustle also requires time investment and how you manage that time in building the stream matter the kind of result you get.

It is far better to have one good source of income than to have multiple sources of income streams to will lead you into confusion later in the job.

but being your own boss brings in so much responsibilities to you as well. You are cleaner - manager - cashier of the business at the same time

There are many lessons that you have to do to take this position, you should understand in detail about what it means to be a leader who can make good moves for the company you are developing.

[Iroh]

in my case it has not given me financial stability but I am able to pay off my bills and utilities and that is it
side hustle is beneficial only if you are doing it from scratch - and cutting all the costs then you are successful

What do you think financial stability is? The fact that you are able to comfortably pay off your bills and utilities is a sign that you are well on your way to becoming financially stable.
Side hustles are beneficial irrespective if you’re doing it from “scratch”(no clue what you meant there). When you are able to pay off your bills and utilities comfortably, then you are on on your way to being financially independent and stable.
It’s not till when you’ve got 20 yachts or 10 jets, then that is when you should feel financially stable Orr secure.