Does a side job/business improve your finanical stability ?

[ichsan ardi]

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 my opinion, we can't rely on one permanent job, we have to have a side business, even though the business is not much, sometimes it's the side business that helps with stability, because we have backup money, we don't know in the future, who knows, we might be fired suddenly, make our side business cash flow that can help stabilize our finances

[Latviand]

Yes, having a second job or business can definitely increase anyone's financial stability by providing an additional source of income that definitely takes time, effort, and money. I think it is very important to weigh the potential benefits against the risks before making a decision. Diversifying your income streams can be a smart move to ensure financial stability and having a solid financial plan that includes saving, investing and managing debt. I think it's always wise to prepare for the worst while hoping for the best in any economic climate.

A second job that's full-time isn't the best way to go to financial stability, pretty sure that no one in this world are relentless and inexhaustible so it's almost close to impossible to do that kind of stuff maybe some can do it but the problem with that is they're slowly burning away their lifespan, they may not know it yet but it will catch up someday. My rule of thumb when it comes to this kind of stuff is make sure that you're second or third source of income shouldn't be as exhausting as your main job, a human needs to live and not just exist.

[Dzwaafu11]

Even if it's difficult to be financially secure, the majority of forum users have other jobs that they pursue in addition to using the forum as a source of income. As a result, you cannot rely solely on your job to achieve financial stability you need another thing to do to live good life and get all your necessary things.
When you plan well, finding a side job won't be a problem. All you need to do is set aside time for everything; don't try to accomplish everything at once. Find time for yourself to relax, unwind, and have fun. Only then will you be able to tell if you are making money.

[xSkylarx]

Yes, having a second job or business can definitely increase anyone's financial stability by providing an additional source of income that definitely takes time, effort, and money. I think it is very important to weigh the potential benefits against the risks before making a decision. Diversifying your income streams can be a smart move to ensure financial stability and having a solid financial plan that includes saving, investing and managing debt. I think it's always wise to prepare for the worst while hoping for the best in any economic climate.

A second job that's full-time isn't the best way to go to financial stability, pretty sure that no one in this world are relentless and inexhaustible so it's almost close to impossible to do that kind of stuff maybe some can do it but the problem with that is they're slowly burning away their lifespan, they may not know it yet but it will catch up someday. My rule of thumb when it comes to this kind of stuff is make sure that you're second or third source of income shouldn't be as exhausting as your main job, a human needs to live and not just exist.

For sure, those healthy people who have like multiple side hustles or sources of income wouldn't mind their health, like they just take a lot of vitamins and still continue to do it. That is why other people will say that no matter how big your income is, if you are just making yourself sick, then it is better to have a low income than get health issues. Our selves are very important, but if ever you have a chance to have another source of income and just sacrifice some time, then it is good as long as it won't affect you or your family.

[Sayeds56]

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 are absolutely right that It is important to have diversified income streams to achieve financial stability in the long term. Doing a side job beside your regular one s a good idea to increase income to meet with growing cost of living due to rising inflation. However, it is equally important to save some money from your income and invest it financial instruments like stocks & Bitcoin in long term to yield significant potential  benefits in future.This approach can be highly beneficial in achieving financial stability. DYOR

[monineklutak]

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 my opinion, we can't rely on one permanent job, we have to have a side business, even though the business is not much, sometimes it's the side business that helps with stability, because we have backup money, we don't know in the future, who knows, we might be fired suddenly, make our side business cash flow that can help stabilize our finances

It's true that the more sources of income, of course, it will be much better because we never know what will happen in the future,
but on the other hand not everyone has a side business which also requires new skills,
so it is also important to learn skills.

[DevilSlayer]

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 are absolutely right that It is important to have diversified income streams to achieve financial stability in the long term. Doing a side job beside your regular one s a good idea to increase income to meet with growing cost of living due to rising inflation. However, it is equally important to save some money from your income and invest it financial instruments like stocks & Bitcoin in long term to yield significant potential  benefits in future.This approach can be highly beneficial in achieving financial stability. DYOR

Rich people have a lot of income streams and it is the reason why they have huge networth. They also advicing that we should be contended in just one source of income because it is really not enough, if you are working in a job that is considered as 8-5 job then sorry to say you will not achieve any financial freedom with that because rich people work for theirselves and not for somebody else. I have 5 sources of income and it also consist of 5 jobs and these are crypto trading, my small businesses, freelance, graphic designing and video editing. In this way I can expect that money will keep flowing in my cashflows instead of just having 1 income stream because it is considered as a risky especially if you lose your job. If you want to increase the money that you keep earning, you must increase your service and it is by having side job or creating a small business.

[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 my opinion, we can't rely on one permanent job, we have to have a side business, even though the business is not much, sometimes it's the side business that helps with stability, because we have backup money, we don't know in the future, who knows, we might be fired suddenly, make our side business cash flow that can help stabilize our finances

It's true that the more sources of income, of course, it will be much better because we never know what will happen in the future,
but on the other hand not everyone has a side business which also requires new skills,
so it is also important to learn skills.

Very important to learn skills to offer your service for your side hustle, with this kind of additional earnings you can have a better financial stability, I mean if you are also good at handling your finances, side job can help you more.

You need to improve yourself and always be keen on learning new knowledge, things that you can offer
to land a good side job that can pay you decently.

[BRINIRHA]

Even if it's difficult to be financially secure, the majority of forum users have other jobs that they pursue in addition to using the forum as a source of income. As a result, you cannot rely solely on your job to achieve financial stability you need another thing to do to live good life and get all your necessary things.
When you plan well, finding a side job won't be a problem. All you need to do is set aside time for everything; don't try to accomplish everything at once. Find time for yourself to relax, unwind, and have fun. Only then will you be able to tell if you are making money.

You are right. because after all we also have to have a special time to enjoy every achievement that we have successfully achieved. And having additional income from working on the side is not bad even I can say that it will be able to make our financial stability more secure than just relying on one source of income. but of course we also must not forget the time to rest to maintain our health. because one of the most valuable assets in life is health.

[KiaKia]

Yes and No, it depends on how much this side job is fetching you, some side jobs are for extra money and they are not much and some are so good that you can be able to invest using such money.

I don't like side jobs because you are still going to work under someone, I won't expect anything great or life changing from this, it will be good if you can learn a skill that's not going away any time soon, a skill that will last you for a very long term, for example, I.T specialist.

Your life starts changing the moment money starts flowing into your bank account from different sources of income, a good side job or business can be very handy for a grown up man.

[mm2543363580]

Definitely a side business or job will help you financially and will lift you up among others . If your business is profitable and its helping you to grow that means you are doing good . In today's time where everyone is facing problems of inflation and crisis some extra income and money can help you alot .

[og kush420]

I personally, that financial stability is definitely a concern for many people these days, especially with the global economic downturn. To ensure my financial stability despite all the unfavorable circumstances, I suggest taking a few steps:

First, focus on building an emergency fund that can cover at least 3-6 months of living expenses. This can provide a safety net in the event of a job loss or other unforeseen event. I mean, it's always better to be prepared for the worst, right?

Next, consider diversifying my sources of income. This might include finding a second job or starting a small business, as you mentioned. While it does take time and effort, it can also provide more financial security in the long run. Plus, it can help develop new skills and open up new opportunities.

Lastly, I think it's important to continue to invest in yourself through education and skills development. As the job market becomes more competitive, having unique skills can make you stand out to potential employers or even help you start your own business.

you are so right - even our income has increased, our expenses also has increased so much
One needs to cut down all the unnecessary expenses to meet their ends.

[Farma]

Yes and No, it depends on how much this side job is fetching you, some side jobs are for extra money and they are not much and some are so good that you can be able to invest using such money.

I don't like side jobs because you are still going to work under someone, I won't expect anything great or life changing from this, it will be good if you can learn a skill that's not going away any time soon, a skill that will last you for a very long term, for example, I.T specialist.

Your life starts changing the moment money starts flowing into your bank account from different sources of income, a good side job or business can be very handy for a grown up man.

I think side jobs don't just refer to working under someone. however, developing a business is also included in a side job. However, the aim of side jobs is to increase income which leads to improvement and stability of one's finances. many people seek and develop their side job, then leave their main job because the side job has a bigger income. However, I think people who have second jobs or businesses have a goal of improving their finances.

[puloweh555]

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 ?

Increasing your income and having multiple sources of income can indeed help increase your financial stability rather than relying on just one source of income. However, choosing a side job must be done wisely. And I think now you can take advantage of the internet space as a side job because it can provide enormous opportunities for your side job, one of which is to take advantage of this forum.

You also have to make sure that the side job won't interfere with your main job and you can still provide the focus and productivity needed at your main job. If your side job continues to grow and is making you more money than your main job, then considering focusing on a side job could be a good option. However, make sure you have weighed the risks associated with relying on one main source of income and have a backup plan in case something should happen to your side job.

Finally, remember that the key to getting rich is not only to make more money, but to keep your spending wise, invest smart, and develop healthy financial habits.

[reizella28]

It could increase your chances to be financial stable if you have part time jobs that could support literally all of your bills and payments. I still think it's still depends on the person taking the job, if they always spend their money into unnecessary things it wouldn't results to financial stable it will just lead to long term job for you to provide your needs. If you aim to save and invest from those jobs then for sure in the future the worker could be financially stable in the future, there's no guarantee in investment there's still a risk however it's much better than doing spending to not useful things.

[EdenHazard]

Yes and No, it depends on how much this side job is fetching you, some side jobs are for extra money and they are not much and some are so good that you can be able to invest using such money.

I don't like side jobs because you are still going to work under someone, I won't expect anything great or life changing from this, it will be good if you can learn a skill that's not going away any time soon, a skill that will last you for a very long term, for example, I.T specialist.

Your life starts changing the moment money starts flowing into your bank account from different sources of income, a good side job or business can be very handy for a grown up man.

Well yeah , when you have a single job or a single business that covered your whole life expenses + extra needs ... i can't see any urgency to have an extra side job or additional business right? Unless if you really think that it's not enough which yeah probably most people would think always that way.

Once again yeah it's depends ... we might have different point of views as well .

[Tony116]

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 are absolutely right that It is important to have diversified income streams to achieve financial stability in the long term. Doing a side job beside your regular one s a good idea to increase income to meet with growing cost of living due to rising inflation. However, it is equally important to save some money from your income and invest it financial instruments like stocks & Bitcoin in long term to yield significant potential  benefits in future.This approach can be highly beneficial in achieving financial stability. DYOR

Side work is necessary if we have a lot of time left after finishing the main job for the day. But it will not be the optimal solution to a better life, savings and investments are essential if we want to improve our own economy in the long run. We will eventually age, work productivity will decrease with age, and only investments that generate passive income will help us cope with the difficulties of old age.
When we are young, we try to work hard and accumulate as much savings as possible, moreover, we need to invest in increasing our wealth, and I also suggest we should choose bitcoin as a solution.

[Pamadar]

Yes and No, it depends on how much this side job is fetching you, some side jobs are for extra money and they are not much and some are so good that you can be able to invest using such money.

I don't like side jobs because you are still going to work under someone, I won't expect anything great or life changing from this, it will be good if you can learn a skill that's not going away any time soon, a skill that will last you for a very long term, for example, I.T specialist.

Your life starts changing the moment money starts flowing into your bank account from different sources of income, a good side job or business can be very handy for a grown up man.

I think side jobs don't just refer to working under someone. however, developing a business is also included in a side job. However, the aim of side jobs is to increase income which leads to improvement and stability of one's finances. many people seek and develop their side job, then leave their main job because the side job has a bigger income. However, I think people who have second jobs or businesses have a goal of improving their finances.

It includes small business. Side hustle gives you an additional way of earning money, with this kind of capability, then for sure you'll be able to have a good state in terms of financial capability.

If you desire to be financial freedom, then having a side job or business can give you that luxury, and I agree with
what you mentioned, some did leave their main job when they find good success with their side hustle.

[Lantind]

In my opinion, we can't rely on one permanent job, we have to have a side business, even though the business is not much, sometimes it's the side business that helps with stability, because we have backup money, we don't know in the future, who knows, we might be fired suddenly, make our side business cash flow that can help stabilize our finances

Maybe there is also someone who does that side job to get a little more income, both to meet their minimal needs, and there is also someone to use as a reserve income or savings in the form of their savings, because basically we won't know what will happen in the future, one of them loses the job mentioned.

[YinShuiSiYuan]

In my opinion, we can't rely on one permanent job, we have to have a side business, even though the business is not much, sometimes it's the side business that helps with stability, because we have backup money, we don't know in the future, who knows, we might be fired suddenly, make our side business cash flow that can help stabilize our finances

Maybe there is also someone who does that side job to get a little more income, both to meet their minimal needs, and there is also someone to use as a reserve income or savings in the form of their savings, because basically we won't know what will happen in the future, one of them loses the job mentioned.

Can't say about job but business will definitely help you to grow and improve your financial condition.  As we know about ongoing inflation and difficult finances the extra income is the one that can keep you alive and help you to enjoy life a little .