Does a side job/business improve your finanical stability ?

[Marcellin9]

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.

Good point. Very few people understand this well: financial freedom/independence is not about how much money you own but simply how long and well you can live with your steady income or passive income. Anything else is an extra.

[ginsan]

You will be bored if your life does not have a job. whatever work you do should give you a percentage of side income either for your living needs or you save it for your future savings.

I myself work as a casual daily labourer, but it's a bit difficult for me to save money in the real world because I don't have a steady job. lucky for those of you who have qualified work, for example working in a government agency or working in a company, you can definitely get a pretty good income every month.

[pantek talacuik]

You will be bored if your life does not have a job. whatever work you do should give you a percentage of side income either for your living needs or you save it for your future savings.

I myself work as a casual daily labourer, but it's a bit difficult for me to save money in the real world because I don't have a steady job. lucky for those of you who have qualified work, for example working in a government agency or working in a company, you can definitely get a pretty good income every month.

it becomes an assessment for people who get uncertain jobs but those who work in a company may also have different problems with the debt they have and the lifestyle around them. you will experience a change if the lifestyle in your place is different from what you would have felt in the past.

[cafee_orange]

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 ?

current conditions are difficult conditions in various ways, whether it's looking for a job or doing something. many companies reduce their workers so that many people lose their jobs.
In my opinion, if a situation like this happens to anyone, it is very important for us to do side jobs with the skills we have, both online and offline, in this way our financial stability is guaranteed to be safe. prioritizing work using the skills we have

[fadhilz123]

You will be bored if your life does not have a job. whatever work you do should give you a percentage of side income either for your living needs or you save it for your future savings.

This is very true and I have also experienced extreme boredom when I didn't have any work in the real world. So it's clear that for now any job that can generate income in the real world means a lot to me for now and also side income will always be meaningful to use for any needs in life and can also be carried into future savings if other basic income has exceeded to cover every daily need.

I myself work as a casual daily labourer, but it's a bit difficult for me to save money in the real world because I don't have a steady job. lucky for those of you who have qualified work, for example working in a government agency or working in a company, you can definitely get a pretty good income every month.

Casual daily workers can sometimes be very lucky even though their income is not always stable because workers are not paid like employees in many companies. Because casual daily workers can also earn more in certain jobs that are not bound so that the amount of income they earn is also not that much different from company employees or government employees.

it becomes an assessment for people who get uncertain jobs but those who work in a company may also have different problems with the debt they have and the lifestyle around them. you will experience a change if the lifestyle in your place is different from what you would have felt in the past.

I think it also really depends on each individual in adjusting himself to the surrounding environment, because if someone still feels he is lacking or poor. Then there is no need to look too much at lifestyles or trends that are less important for him, because that will make him suffer and will always make him feel deficient in his environment.

[BRINIRHA]

You will be bored if your life does not have a job. whatever work you do should give you a percentage of side income either for your living needs or you save it for your future savings.

I myself work as a casual daily labourer, but it's a bit difficult for me to save money in the real world because I don't have a steady job. lucky for those of you who have qualified work, for example working in a government agency or working in a company, you can definitely get a pretty good income every month.

actually at this time it's not only freelance daily workers who have difficulty saving in the real world. but many people who work in other industries such as permanent employees in a factory complain about the same thing. because the problem is that inflation is currently increasing without us realizing it. an increase in the price of basic needs not accompanied by an increase in income/salary is the main problem in this regard. even people's purchasing power has weakened slightly. I hope a recession doesn't really happen.

[KupaCrypto]

A side job will only increase your income  and when not properly managed or invested it won't give you financial stability, at the very beginning you can have side hustles to an empire or an establishment and when you have a well established business your side hustle won't really matter to you,
Side hustle won't give you financial stability but a sustainable source of income that give you money regularly will give you financial stability and if a side hustle is properly manage  it can lead to a sustainable source of income.

[rangga28]

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 have also experienced a situation where my financial condition deteriorated due to several factors such as the pandemic until I was kicked out of my place of work. However, I continue to make efforts and evaluate new things to overcome this situation.

You could say, at that time I only had a strong passion and determination to dare to change professions, such as farming/garden until I got to know cryptocurrencies. The point is, keep the spirit and don't be reckless. So that we can think positively to get out of our economic problem zone.
"Nothing is impossible as long as we have the will"

[bangjoe]

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 ?

Apart from work and income, in my opinion, to stabilize finances in the future is to manage finances properly and correctly to make preparations for the present, yes, maybe a side job will help stabilize finances, but that cannot apply if the financial management we use is very bad. and the results of side income are usually relatively small. I personally, in this case, we must be literate with investments that can provide dividends or capital gains that might help us in making our finances healthy in the future, of course we can build this from now on before our jobs and businesses no longer generate income. Even though I didn't expect that to happen but preparations had to be made.

[tjtonmoy]

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

I think not to wind up pennyless, you have to save something for the future from your current work. A side job is always a plus point for making life a lot easier, but it shouldn't be your first priority. You may lose focus on your main job and mess it up too. So if you are able to continue both work and making good money from both, then you can choose to do it. Otherwise, you will lose both in the process.

[Hamphser]

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

I think not to wind up pennyless, you have to save something for the future from your current work. A side job is always a plus point for making life a lot easier, but it shouldn't be your first priority. You may lose focus on your main job and mess it up too. So if you are able to continue both work and making good money from both, then you can choose to do it. Otherwise, you will lose both in the process.

Always have the balance and its true that you shouldn't really lose focus on your main job on where you had made yourself survive in the present.It is really just you've been adding up some side income which it isnt

bad either, there are really just people who are that impulsive on where they do leave out their main job just because of their side income which we do know that it is really that risky to do so considering that there's
no assurance on when those side income would last unlike with your main job which you had been dealing for a long time.

In overall suggestion then having side income is really that recommendable if you do really wish up a life which doesnt really have that much problem when it comes to money or finances.

[blockman]

Good point. Very few people understand this well: financial freedom/independence is not about how much money you own but simply how long and well you can live with your steady income or passive income. Anything else is an extra.

That's right.
On the other hand, it's not all about how much money you make but how much money you keep and save. And with that saving, there goes on how you're going to grow it through passive income and make it work for you. That's the style of rich people that they don't have to exert a lot of effort when they've already made themselves a great source of passive income. But as we know, at the start of it, that isn't really easy at all and too many hardships that they've been as well.

[Bholutefe]

Definitely, every side jobs/businesses improves our financial performances even if you have a high paying job, a side business is just like a PLUS to our financial situation because the amount of income one would be earning would at the end of the day result into a surplus if not slightly, then massively which would help in paying bills, sorting out expenses, fuelling of the car, house rents, feeding and so on. It is such an excellent idea to improve one’s financial performance by having a side job/business outside the main job one is having moreover the advantages are numerous and that is why we see a lot of people indulging in this pattern of life in today’s society in order cater for every of our minor/major needs which are necessary.

[UserU]

I think not to wind up pennyless, you have to save something for the future from your current work. A side job is always a plus point for making life a lot easier, but it shouldn't be your first priority. You may lose focus on your main job and mess it up too. So if you are able to continue both work and making good money from both, then you can choose to do it. Otherwise, you will lose both in the process.

Sadly not everyone is able to be content with their main job.

Currently I'm waiting for the first raise in 2 years before I make the next move.

[Pamadar]

I think not to wind up pennyless, you have to save something for the future from your current work. A side job is always a plus point for making life a lot easier, but it shouldn't be your first priority. You may lose focus on your main job and mess it up too. So if you are able to continue both work and making good money from both, then you can choose to do it. Otherwise, you will lose both in the process.

Sadly not everyone is able to be content with their main job.

Currently I'm waiting for the first raise in 2 years before I make the next move.

Not that they are not content but most because they are aiming or looking for better compensation, and if they can do it by extending
their limits finding the right side job or part times.

They can add more to thier monthly salary, money that they can use to address their finances
a very big help for them to have a much lighter and easier in terms of daily needs.

[fuer44]

Not necessarily stable
For example those of us who already have a monthly salary choose to do business outside of work, for example become a seller or whatever that is. Because we still have a main job, in the end we only think of the business as a sideline and don't focus full time there. It will actually lead to poor financial management of us. Let's say we spend money to start, but because we are still focused on our main job, our business ends up being abandoned.

But if the side job in question is trading or investing, we may still have plenty of time for that but the risk of loss is also haunting.

[UserU]

Not that they are not content but most because they are aiming or looking for better compensation, and if they can do it by extending
their limits finding the right side job or part times.

They can add more to thier monthly salary, money that they can use to address their finances
a very big help for them to have a much lighter and easier in terms of daily needs.

Using an example of myself at the physical office I work at, I along with my other coworkers haven't gotten a raise since I joined, while only a selected few got theirs as soon as 1 year after joining. Similar workload too.

Why work at a company that doesn't know how to appreciate their staffs?

On another note, part-time is definitely one thing and I'm thankful of having some but as age catches up, your expenses increasingly shift towards the basic necessities such as housing/ family and groceries.

[Smack That Ace]

Using an example of myself at the physical office I work at, I along with my other coworkers haven't gotten a raise since I joined, while only a selected few got theirs as soon as 1 year after joining. Similar workload too.

Why work at a company that doesn't know how to appreciate their staffs?

Well, in this case, I think before you say the company is not fair to you, you should reconsider yourself. I do not claim that you do not do well or do not complete the assigned work, but evaluate fairly and objectively to find out the cause. I believe the company does that for a reason, maybe new people have better knowledge, do better work, or they know how to please their superiors more than you...Or the company is looking to replace you with more enthusiastic young people, and they don't want to fire you, they want you to resign yourself.

[UserU]

Well, in this case, I think before you say the company is not fair to you, you should reconsider yourself. I do not claim that you do not do well or do not complete the assigned work, but evaluate fairly and objectively to find out the cause. I believe the company does that for a reason, maybe new people have better knowledge, do better work, or they know how to please their superiors more than you...Or the company is looking to replace you with more enthusiastic young people, and they don't want to fire you, they want you to resign yourself.

The thing is that, the company itself has a very high turnover rate. I was informed that even the seniors that joined before me left within after 1- 2 years. Also faced the same thing.

Empty promises.

[WatChe]

Not necessarily stable
For example those of us who already have a monthly salary choose to do business outside of work, for example become a seller or whatever that is. Because we still have a main job, in the end we only think of the business as a sideline and don't focus full time there. It will actually lead to poor financial management of us. Let's say we spend money to start, but because we are still focused on our main job, our business ends up being abandoned.

But if the side job in question is trading or investing, we may still have plenty of time for that but the risk of loss is also haunting.

I have couple of people in my office who did part time business, one was in real estate and other one was in wrist watches. They did established there business and when they were confident that they have a business they can rely on they left the job. Having said that I didn't mean that business is for everyone. I myself do part time work (not business) on different freelancing platform and result is good overall income at the end of month.
So it totally depends on your skill set and how much determined to earn apart from your secure job salary.