Food for thought

[Juse14]

This reminds me of the Covid-19 pandemic which resulted in many factory employees being laid off. And it's true, as you said, when they were laid off, they were really confused about where to find money to survive and meet their daily needs. Because, they do not have the ability to work or try in other fields, apart from being factory employees. In the end, to survive, they sell their personal belongings. And when the pandemic was over, they returned to handing out papers to apply for jobs.

And starting from this, it is important for us to continue to improve our abilities not only in one field of business, and to continue trying and trying to get rid of dependence on other people or companies.

[Fivestar4everMVP]

Well, this is definitely a good advice, and one many of us constantly preach mostly in the gambling board, majorly on how important it is for gamblers to not take gambling as a source of income, but have multiple sources of income outside gambling..

But hold-up, I understand that I am not in the gambling board right now but in the Economics board, so, looking at this from from the economy perspective, it's almost the same thing, it is practically unwise for a someone to depend on salary, no body depending on salary have ever came out to become a very wealthy person, they either become wealthy through their own private business, or their own investment.

So, as a salary earner, it is topmost important to start and manage a business on the side, no matter how small, keep it going and growing little by little, and who knows, in the future, you may not have to wait until you either retire or sacked, your business must have grown to an extent you will have to quit your job to focus on the business, by so doing, you have become your own boss.

[jrrsparkles]

With all the obligations and responsibilities, I think one can ignore social media. A responsible person wouldn't want to wait for the time when his family would go hungry and have to burn firewood in the backyard to stay warm.

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.

[Alpha Marine]

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.

Sometimes I get tired of seeing these things.
Not everybody will own a business. Advising people who don't know how to run a business to start a small business is not really the best advice. I'm not saying it's bad advice but not everybody can do that. So you'll call the ones that don't do it fool? NO.
Advise people to have investments, and learn skills. There are so many skills out there that people can learn. There are so many investments out there too to go into. Even long-term.
Advise people to have savings just in case.

I don't believe everybody should own a business. Besides it costs more to start up a business and it's also most likely going to require a lot of time. Time you may not have, so you end up handing the business over to someone else to run. What time do you have to run a start-up when doing a 9-5?

Building a career is not a bad idea. Just try to always get better in your career. Learn new stuff, and take more courses that'll make you stand out. Try to be among the best at what you do. That way you'll always be sought after even while you have a job.

[Peanutswar]

Our country does not have a good reputation in terms of government even the workers under the local government unit don't get enough funds for their daily sustainability even though you want to appeal you don't have any choice or option because they can easily replace you and hire willingly to accept the job without too much demand, also people tend to have work even a low amount of salary at least they have a source of income today its hard to work most likely they are hiring for an 8 full shift of hours and a daily rate not into an hour rate like in the other country. If you want to succeed in life making a business or working in the other country is ideal than hoping to get rich under the LGU.

[Faisal2202]

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.

You are right, no one should depend on a single source of income and devote their whole life and career to their bosses. But I wonder if there are any in the current era who still have that old traditional mindset to bear the odd attitude of their bosses and always depend on them and never learn new things and grow with new skills.

I consider growing with new skills in the same sector of a job the same as having more than one source of income. We all should learn new things no matter if we are making good amount of money with our current job. Always move forward.

I am trying to make more than one income source even if the procedure is slow but it will end up good for me. Doing something is better than doing nothing at all.

[topbitcoin]

Be like a soccer player in this life. and defend what can be defended.

Soccer player is a profession that has a fantastic salary. And they can get such a large salary because their position is irreplaceable. Like Cristiano Ronaldo and Linel Messi, they are irreplaceable soccer players. Because their role in a club is very vital, they have extraordinary abilities and skills that are not owned by others, so they can always be relied on in matters of scoring goals, and even when they are absent to play this really makes the club experience unsatisfactory results. CR7 & Messi have been the actors behind the success of the clubny

Even in the career world, if your position does not want to be replaced and avoid the risk of layoffs, then continue to hone your abilities, knowledge and skills. And make a reason why the company can't fire you. And continue to be an actor behind all the success of the company.

And when you already have qualified abilities and skills, which are not owned by others, then never worry when you are fired. because there will be many companies that need you.

[Japinat]

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 know it's everyone's dream to have his/her own business because it's a common knowledge to everyone that we don't get improved or become rich just by staying in a single job or a government job, but by having our own business the rate of chances to get rich or make our lives comfortable is very high. That's why a lot would even chose to start their own business and leave their jobs permanently.

However, not all are given the opportunities to become the bosses of their own. Saving one's own capital is very hard, and when it comes to business, the rich men have always the advantage to start first, while leaving the poor men struggle first so they can come up with sufficient finances to funds their business.

[Essential10]

Where I live is a low-income country and the situation here is different. Many educated people in low-income countries struggle to find stable employment and are forced to take low-paid, insecure jobs or even work in the informal sector. Finding an additional source of income becomes imperative where there is no guarantee of employment. We all know roughly the global situation. The price of every thing is constantly increasing. In low-income countries, relying on one income alone will not get us far into the future. An additional source of income is very important for us besides the job. I think an extra income can provide a sense of security and independence.

[Ziskinberg]

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.

No one will realize the need to have their own business unless these people with stable jobs are starting to experience financial incapacity and made them force to take debts because it's badly needed to. They will realize that having only a single source of income is not enough to raise a family or make your lives improved and live with financial security. Admit or not, those people who engaged in business are living more free from debts unlike those who are employed that are almost buried with debts.

While having another source of income is a must, but still there are people who chose to focus on a single job not because they're used to it, but because they are afraid to come out from their comfort zones and take the risk and eventually fail in the end.

[Twentyonepaylots]

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.

Yeah been thinking about this for quite a while now, but bills keep coming every month! HAHA!

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.

My company is a US based organization, recently they have been laying off employees to protect their business, I mean I get it, if I'm the leader of an organization whose in a recession country I would have done the same, I think that's pretty common and the most likely to do thing if you own or run a business. If I were laid off, I would end up being a bum in the street, like no kidding, this is my main source of income about 90% of my income, I don't know if I can survive 6 months if they laid me off. So the business thing is on my plan, I need time to make it happen.

[Marvelman]

A person's money situation can really differ depending on their job and savings.  Some people have extra cash and investments piled up so even getting laid off they'd be fine still going out to eat.  Others live check to check, and if they lost their job they'd be in big trouble affording groceries and rent.

What was your job description for entity or government, if you don't mind answering?

[STT]

In Sri Lanka government workers were routinely given 1 day off a week to cultivate and grow food for themselves, their family and community.  Because as you say government is not the perfectly stable rock that people imagine due to its size its an easy impression to give.   Like titanic big things can sink also in an unimaginably ways, theres always something larger a greater force that can take down even a government.  
   The study of economics should be in respect of natural dynamics,  the largest forces arent government programs built on debt but the people themselves are the strength and wealth of a nation.

I think we forgot that last bit, too many people think or respect politics as the unstoppable force when its fragile and leaning on the backs of the common worker.   I dont know about you but the common worker is poor and already struggling  to raise a family usually, government wealth relies on taxing these people working them to death in some cases into poverty and poor health.
  Its a fallacy, I dont want to explore what happens when we're wrong and ignore the danger I already know and agree with OP people are productive and governments only succeed harnessing those people.   When we over tax, over spend and waste money as governments are so inefficient we are risking the entire country lets be aware of that mistake and steer away from hubris of modern 'rich' society be humble expect setbacks.

[bounceback]

There are most appropriate recommendation, especially four us still related to work in government agencies, existing regulations will definitely change with changes over time in the institutions that oversee our work possible that we could lose our jobs in government agencies. Before facing bad thing in the future how potential we are sacking from government agencies need to prepare side or small business scale how to protect and supported with our financial in the future. Right now, relying on one business as your main income is not enough, with inflation increasing quite high every year and prices of basic necessities continuing to increase significantly, we really need side or additional jobs to get income apart from the main job in government agencies.

Its doesn't just apply for people working in government agency but for all people need to back their business with have another or side job for getting additional income.

[South Park]

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.

Having different sources of income without a doubt is important to have these days, however this does not necessarily has to come from starting a business as there are many ways to do this, you could simply work another job, rent a property, become an investor or live out of the royalties of your inventions or other creative works, with this in mind it is key that we do not limit ourselves to a single solution and we pick the one that fits our skills the best.

[junder]

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.

No one will realize the need to have their own business unless these people with stable jobs are starting to experience financial incapacity and made them force to take debts because it's badly needed to. They will realize that having only a single source of income is not enough to raise a family or make your lives improved and live with financial security. Admit or not, those people who engaged in business are living more free from debts unlike those who are employed that are almost buried with debts.

While having another source of income is a must, but still there are people who chose to focus on a single job not because they're used to it, but because they are afraid to come out from their comfort zones and take the risk and eventually fail in the end.

I agree with you, those with limited income should be able to realize that if they only rely on their work which is clearly limited then they will feel deprived, they should be able to try to start a small business to help their finances later, this needs to be considered because by starting a business even if it's small in my opinion it doesn't matter, as long as it's profitable there's nothing wrong with it. also the risk is definitely there but I don't think it means not doing or not moving forward, do new things that can produce that's what you should do.

or they can also borrow money to start a business, it's better that they work as well as have their own business because it will generate more profits that can help their basic needs be fulfilled. step forward, don't hesitate with it, do it well, it will definitely generate benefits and don't look at the benefits if it's small, it's better than nothing.

[tabas]

The reality of having one source of income sucks especially if it's not that high paying at all. Jobs in the government varies on the position but a friend of mine is happily serving through it even if the salary is just enough for his family. I agree to start a little business that you may eventually leave your day job. But it's not for everyone because whether you want it or not, when you're able to start a business, it doesn't end there and many struggles in maintaining it because it's not easy as someone may seem to think.

[Renampun]

...

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.

[Distinctin]

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.

Sometimes, it's easier to say than done. Who would not want to have a business of its own, aside that it adds on your source of income, the way to earn and save big profits is faster than what you get from your salary from your main job. Unfortunately, not everyone is given the opportunity to start a business. Most likely, our salary from our job is only enough to sustain the basic needs of the family, saving some spare money to invest on a business is actually tough and hard.

While those who are given big opportunities to have their own business, they should learn to maximize their productivity to ensure bigger profits, because not everyone has the capacity to start their own business.

[Dewi Aries]

Relying on one source of income has become difficult, but many do not have the option to have a side business, such as starting a small business and growing it gradually, either because there is not enough money, or there is no space, or there is no time and experience, or problems in marketing and reaching customers, so it is better to try. You should start investing early and at a young age, and when you reach the age of thirty, then you will think about starting a family, and then you will have surplus money and experiences.

I think that opening a business requires capital, but even with small capital it can be done, because there are also businesses that can be run with small capital. and there is nothing wrong with opening a small business to make extra income or for a side, because generally a well-run business can grow because no one knows that the business that is run might become a big business. many people don't realize this, because they don't think long, I mean when they want to open a business but don't have enough capital, they don't continue it they choose to quit instead.

I mean, it's not a problem to open a small business if you really need extra income, because basic daily needs must be met such as food, electricity, water, and kitchen ingredients, that's the main thing in life because if they can't fulfill all of that then they will probably have difficulties with their lives. so in my opinion it doesn't matter if they open a business, even if it's a small business, it doesn't matter.