Food for thought

[Furious 7]

For those working for government or an entity, try  to  start a small business and grow it gradually while still doing your 9am- 5pm job.

We might not feel the importance of it until we have been lay off from the job.
I have a question for those working for an entity or government, if you are being sacked today, what will be your faith? Will you still be financially strong, can your other sources of income keeps you going or you will be devastated by the loss of your job.

In this current economy, it's suicidal to have only one source of income.
If you must live well you must be ready to grab the bull by his horn am make life changing decisions by having more than one source of income.
Don't put your financial destiny in the hands of your bosses, you might not know the importance of having your own business till you have been sacked. think about it.

I work in one of the government agencies and I have not been disturbed and do not feel that this is a suicide scheme from what I am doing because in the end everything has its own proportion and level of management.
I think working anywhere will not be a problem if we have a plan to meet the future with good financial management that will not make us slaves to the regime or whatever it is that makes our economy destroyed.
I agree with looking for a side job or whatever it is called but in the end what I emphasize in this case is that I think it doesn't matter where we work whether we are in an institution or government agency as long as we are comfortable and we have the advantage of being in it why not. As for other options such as side jobs or investing in bitcoin for example, it is not an obstacle for us to close ourselves from the work being done because investment is a future program and has nothing to do with the work we are currently doing even though it is in government.

[Rruchi man]

Don't put your financial destiny in the hands of your bosses, you might not know the importance of having your own business till you have been sacked.

It must not only be business, other kinds of investments that can give some level of financial confidence is advised. Business is not for everyone, and in cases where business is not for you, it will take more from you than it will give you.

Before starting a business even as a government worker, or someone earning very well under the private sector, consider the business you are about to start and know if it is a marketable business in your location or not, Know if you are a business person or not, if you are a business person, it will be okay to proceed, but if not, you will need not to proceed with the business plan, or better you employ a manager with god business skills.

[Maslate]

Business is really important in one's life. If you don't have any extension from your original source of income, you will really find it hard to sustain all the needs of your family, and if ever you can, saving for emergency funds will not be part of the plan anymore. That's why its an advantage if we have a business that will help to generate profits for us. In case we lost our job, we still have another soure of income that will provide for us.

[Winterfrost]

The faith depends on how long they have been working for that institution and how much they earn monthly. If they have good pay while working there they may have saved up a good amount of money to start a business after that. Governement officials are being paid their pensions after they are retired it is also a good way or a good amount to start something if you the person use the money wisely.

This should also start as an eye-opener to those currently working for the government or an entity. My candid advice to such a person is that while working they should venture into something or a business that could serve as another means of getting money. Relying solely on your government work will not do anything good. This is because when new governments are in the seat, new policies and decisions are made, and if a person is lucky he/she will be affected by those policies and may lose their job.

[Dr.Bitcoin_Strange]

It's not everyone who can establish, manage, and maintain a business; the reason is that they did not actually learn it. Not everyone is an entrepreneur, and if you don't have an entrepreneurial spirit, there's no way someone can even think of starting a business to offer some service to the public and earn from it while they are still working. Another thing is that there is some work you will be doing, and you will not have any quality time for yourself to talk about entrepreneurship.

Some people are also employed in some Bitcoin company where they are receiving a very huge salary. They see that life is good for them, so they only save for the future and also invest in other things.

[panganib999]

In the Philippines, that's a massive staple. Most people who have worked 9-5 here would have retail stores available as well to support them, and since people here loved the sachet culture, these stores are always booming regardless of the economic state of the country. In any case this also entails that you have to be on the pulse with the market trends and stuff if you want to make it out alive cause there's no way you'd get away with a willy-nilly business idea no matter how much money and marketing you put into it.

Basically all I really wanna say is that more than having a side hustle you work on, you also have to be well aware of what this side hustle you're seeking is all about so you don't waste money and effort.

[CryptopreneurBrainboss]

For those working for government or an entity, try  to  start a small business and grow it gradually while still doing your 9am- 5pm job.

Everyone should have this mindset as it'll help out alot. Starting a business can be done very quickly from the comfort of your home and with the help of the internet. There are many businesses you can now do without it taking your time. You can automate the business too and they generate revenue that you can use to support your main hustle. Having a side hustle isn't just about having something to fall back on in difficulty times like your boss sacking you but also for financial support. A business or side hustle gives you more confident in life and can make you leave a bad job that the salary is the only reason you're still doing that job. We shouldn't be doing a job we hate but many people can't quit because they don't have other options.

In this current economy, it's suicidal to have only one source of income.
If you must live well you must be ready to grab the bull by his horn am make life changing decisions by having more than one source of income.
Don't put your financial destiny in the hands of your bosses, you might not know the importance of having your own business till you have been sacked.

Don't put your financial destiny in the hands of one job/hustle too because it mustn't be your boss firing you before you lose that job. Something horrible might happen and the job is gone, what then will you do. We're in the digital age, get yourself a digital skills that you can use in any part of the world you find yourself. Don't only depend on the physical business, have online ones too. Having just one source of income is a disaster waiting to unleash and can't make you wealthy. Investing shouldn't be the side hustle, side hustle are for bringing in money and not multiply money. Multiplying are for investment so don't consider investing a second hustle that you have as that's mandatory for anyone seeking wealth.

[mirakal]

Living life is not all about the present but you should also live for your future, that is thinking for long term, if you can still keep your job forever or you need some alternatives that will also provide you a source of income. That's why having another source of income like establishing your own business while you are still working would be a great idea, that will give you double benefits in time. The important thing is you start building on it, with courage and determination, you will make a good reward that will create positive changes in your life.

This is not just a sort of plan but we should start adopting mindset like this. Learn to be resourceful as much as we could. In time, we will build financial freedom and live our life at its best.

[mamesso]

Everyone always tries to achieve financial stability and independence by looking for work outside their main job. Having a side source of income outside of your main job can reduce dependence on one source of income. Some people have a lucky life because they can combine two jobs at once, between their main job and a side job to create stable income.
In the midst of increasingly difficult economic conditions, it is necessary to have additional sources of income to stabilize finances so that we can obtain savings for the future. People always try to live a better life, but there are certain times that require a person to live in poverty because luck is not on his side.

[boty]

Living life is not all about the present but you should also live for your future, that is thinking for long term, if you can still keep your job forever or you need some alternatives that will also provide you a source of income. That's why having another source of income like establishing your own business while you are still working would be a great idea, that will give you double benefits in time. The important thing is you start building on it, with courage and determination, you will make a good reward that will create positive changes in your life.

This is not just a sort of plan but we should start adopting mindset like this. Learn to be resourceful as much as we could. In time, we will build financial freedom and live our life at its best.

In this life of course everyone will think about how they can live their life better than today of course they will continue to try to work diligently in order to realize what they have dreamed of and in achieving the goals they want they need to do it consistently so that the targets they have set they determine that they can achieve it, when they have achieved what they want, of course they will be happy with the achievements they get.
Continue to learn and develop the potential that exists within us so that we can get what we have targeted to achieve financial freedom.

[vv181]

Personally, what is important is to have a safety net. People should have the emergency fund rolling when they get in trouble, specifically when they don't get any income. Another problem that arises is whether can people save and not spend paycheck-to-paycheck on their monthly expenses. Just simply judging people only need to add their sources of income is insensitive, a lot of factors must be considered.

It is ideal to have extra sources of income so anyone does not have to rely on a single entity. But sometimes a factual reality may prevent people from doing those things, be it time constraints or pieces of knowledge.

[Fuso.hp]

Those who work in a private company already have to live under a lot of pressure and then again there is always a tension in their head that they can be removed from the job at any time. Different officers or employees work in different private organizations with this kind of tension. Apart from the job, we should definitely try to find a permanent address. By permanent address I mean we should try to build our own organization in the field we are good at and try to take that organization forward. There are many such people in our country who have established their own companies by working in other companies and have created employment for thousands of people in that company. People's propensity to take risks and willpower are the biggest weapons, if people have strong willpower and if people can take risks then they will surely succeed in any work.

[icalical]

I experience the opposite situation few years ago, I worked in a company then I start freelancing and then I start getting many clients and think I could survive by freelancing and quit my job, and hopefully starting my own agency. But seems like I quit in a wrong time, not long after that, the pandemic hit, and then tech winter happened, and then crypto market falling, most of my client were from crypto company so I start losing clients. Now I am working in a company and doing freelance, I do both of them. I realized that it's better to just grab every chance we can get, and not taking reckless decision.

[Hewlet]

For those working for government or an entity, try  to  start a small business and grow it gradually while still doing your 9am- 5pm job.

We might not feel the importance of it until we have been lay off from the job.
I have a question for those working for an entity or government, if you are being sacked today, what will be your faith? Will you still be financially strong, can your other sources of income keeps you going or you will be devastated by the loss of your job.

In this current economy, it's suicidal to have only one source of income.
If you must live well you must be ready to grab the bull by his horn am make life changing decisions by having more than one source of income.
Don't put your financial destiny in the hands of your bosses, you might not know the importance of having your own business till you have been sacked. think about it.

the world has grown past that stage when a single source of income will be enough to sustain someone. For you to effectively take care of yourself and not run Into always being without funds, you need at least three active streams of income which should comprise of your online earnings, the job you're doing and a business or investment you are making to fall back to in the even of unforeseen circumstances happening.

Apart from enduring that your have multiple streams of income, you also need to have several skills that are very relevant so if one isn't paying you at the moment, you can easily switch to the next one.

The covid has thought me a lot of season that anything can happen to anybody if proper plan is not on ground. Some rich persons became very poor because the covid disrupted their means of livelihood and they had to literally start from scratch. Depending on a single stream of income will only put you in a condition of borrowing to offset most of your bills and it gets even worse when your source of income is from the civil service angle that are very good at owing people.

[jrrsparkles]

...

Believe it or not. If you have in-laws who keep watching your back and go over to your house when you are jobless. It's gonna be the worst feeling. Having two jobs is necessary nowadays, it's not just to survive but to also have savings/investments.

Well, this isn't about the jobless but more about someone who lives from paycheck to paycheck so they just fit into their comfort zone until they realize today is the day they are going to be thrown away from the job. And seriously how many of us are waking up and start daily chores without looking at your notification, just answer honestly.

there are many incidents like this, people who are too comfortable in their jobs end up regretting their decisions as a result of job layoffs and so on, but the reality of life often means that we have to depend on a job for our living so actually it is not entirely the fault of the individual. Everyone is currently required to have more income and savings because there are many things that are difficult to predict in the future.

Exactly, they get too comfortable and doesn't think about the long term future or their retirement plan, also the advancement in technology lead to the less number of employees required to do the jobs on the contrary population and potential candidates for the jobs keep increasing which means only less portion will get the opportunity while others need to find their way to make money.

[kryptqnick]

Job security depends on a country, type of work, and personal skills (both hard and soft). Some people find it hard to find a job, and if they are fired, it's hard for them to replace that source of income. But that's not the case for everyone, as some jobs are simply in high demand, and some people find themselves in high demand. So if a person is confident that finding a different job won't be an issue, then there's no need to overwork and try starting a business while working full-time. Moreover, it's not like starting a business is an easy thing, and it's also not a guarantee of income. So someone might try to follow the op's advice but end up actually losing money because of issues with business instead of securing a source of income.

[Gozie51]

Op you are quite right about your post which I see as an advise not for only government employees, private or those that are independent, it is an information for everyone on the need to diversify our income or source of revenue. To depend on a source of income is now a thing of the past or for only the man to provide for the home no longer viable because the economy is now difficult to survive on, their is high cost of living of which only a source of income will not be able to take care of the home front, even singles don't find it easy to live a balanced life.

So no matter how difficult it is to establish more sources of income, it is worth it and not to depend on one job because when that fails, it is usually a problem to get up back.

[demonica]

People who worked smarter will have more chances of having a better financial life. I'm working irl for a company and I know that if I want to be financially free, I can't just rely on one source of income. Cause imaging spending 8 or more than of your hours per day and yet you're only earning this certain amount of money based on your salary. While the company you work for, could earn 100x more within those working hours.
If you're contented and want to just stay in the same status you have with working for other people, you can continue doing that. But if you want to achieve more, you gotta start finding other opportunities for you to increase your income. Investments and side hustle that doesn't require much time can be a great way as your other source of income. That's why even if I already have a work irl, I didn't stopped being here in this space

[bestcoins1]

Exactly, they get too comfortable and doesn't think about the long term future or their retirement plan, also the advancement in technology lead to the less number of employees required to do the jobs on the contrary population and potential candidates for the jobs keep increasing which means only less portion will get the opportunity while others need to find their way to make money.

And with technological advances that can be used by everyone within a certain scope as well as a very general scope, it has also provided unusual job opportunities for everyone who cannot find work in any agency at the moment. So some people don't get a job because there is a lot of competition in every agency or in every open opportunity, which has made most people think differently so they can get a job that will lead them to become more independent. Examples include becoming an influencer, news and television reporter and news site developer today which is still widely consumed by the wider community.

[Unbunplease]

People who worked smarter will have more chances of having a better financial life. I'm working irl for a company and I know that if I want to be financially free, I can't just rely on one source of income. Cause imaging spending 8 or more than of your hours per day and yet you're only earning this certain amount of money based on your salary. While the company you work for, could earn 100x more within those working hours.
If you're contented and want to just stay in the same status you have with working for other people, you can continue doing that. But if you want to achieve more, you gotta start finding other opportunities for you to increase your income. Investments and side hustle that doesn't require much time can be a great way as your other source of income. That's why even if I already have a work irl, I didn't stopped being here in this space

I agree with you. At any time a company of any size can go bankrupt and start mass layoffs. And if you have only one source of income, you can be left with no livelihood at all. So it's always wise to have multiple sources of income, even if each one is quite small.