How can it be possible coping with one source of income

[acener]

Through out last year I find it hard to get things done with funds despite how my earning was and I find it hard to spend more on my bills around me , though I have been seeing some humans earning and paying bills with one source of income and I do ask myself how is it done

please your advice will be of help

If their income is more than enough for them and they are living comfortably then there is nothing wrong with it.
You need to re-evaluate how much you earn and how much you need, some people could live with a single source of income if their salary is higher than the cost of living, but if you are earning a minimum wage then you need to look for other source of income or side hustle to maintain what you need and to have money to spoil yourself or family.

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[bbigtart]

Through out last year I find it hard to get things done with funds despite how my earning was and I find it hard to spend more on my bills around me , though I have been seeing some humans earning and paying bills with one source of income and I do ask myself how is it done

please your advice will be of help

Overcoming financial problems with only one income, of course by saving. Don't go into debt too often, especially for consumer goods. If you have bills, you have to look for additional income or at least you have to pay them off immediately and don't go into debt again.

It's better to focus on basic needs first. If you have more tubes, you don't have to think about using them later. Because we don't know what sudden needs will arise in the future. Try whatever your income is with one income, you have to use or allocate your funds for %50 of your needs, %40 for investment and %10 for desires and eliminate desires for things that are not very important.

[Franctoshi]

Through out last year I find it hard to get things done with funds despite how my earning was and I find it hard to spend more on my bills around me , though I have been seeing some humans earning and paying bills with one source of income and I do ask myself how is it done

please your advice will be of help

Living well on a single source of income will be determined by how much you earn and how you spend the money. Some business executives earn a lot of money that is enough to take care of their basic and other needs. Now, earning high doesn't necessarily mean surviving on a single income is a guarantee because many people are indebted even with a jumbo salary. This is caused by overspending or living in luxury more than they can afford. Some people earn little yet they live well with a single source of income. These people have learned how to cut expenses and live within their income. But just as OP said, it is becoming very difficult to survive on one source of income. Most people I know who are living comfortably have more than one source of income.

Looking at it this way ,even though your salary is huge enough to cover your expenses and you don't live a luxury life, it isn't still encouraging to be living on only one source of income because if that one particular source of is closed your are likely to be doomed an may go broke especially if you're living in a country where there is no job, therefore even you're being ok with your salary,  one should source other means of earning money, should one close they will fall back to the ones.I have some that depended on one source of income because he was earning fat salary, bought car ,Mary a wife and also built a house while doing the job but now going broke because he lost that job last year.

[freedomgo]

Through out last year I find it hard to get things done with funds despite how my earning was and I find it hard to spend more on my bills around me , though I have been seeing some humans earning and paying bills with one source of income and I do ask myself how is it done

please your advice will be of help

Overcoming financial problems with only one income, of course by saving. Don't go into debt too often, especially for consumer goods. If you have bills, you have to look for additional income or at least you have to pay them off immediately and don't go into debt again.

It's better to focus on basic needs first. If you have more tubes, you don't have to think about using them later. Because we don't know what sudden needs will arise in the future. Try whatever your income is with one income, you have to use or allocate your funds for %50 of your needs, %40 for investment and %10 for desires and eliminate desires for things that are not very important.

Getting into debt might be somehow inevitable for those who only rely on a single income. And if they tolerate theirselves from getting into debt most often, they will bury in debt in the future. It’s okay to take a loan but when you have saved spare money, prioritize paying it until you’ll not into debts anymore. Stick to your needs, avoid or delay your wants. They can actually wait when you have everything already.

Get out from your comfort zone and study on how investment works. After a long preparation, when everything is ready, physically, emotionally and most of all financially, then take the risk to invest. You will never get out from poverty if you don’t find means to improve your status. Investment is the key.

[Hamphser]

Through out last year I find it hard to get things done with funds despite how my earning was and I find it hard to spend more on my bills around me , though I have been seeing some humans earning and paying bills with one source of income and I do ask myself how is it done

please your advice will be of help

Living well on a single source of income will be determined by how much you earn and how you spend the money. Some business executives earn a lot of money that is enough to take care of their basic and other needs. Now, earning high doesn't necessarily mean surviving on a single income is a guarantee because many people are indebted even with a jumbo salary. This is caused by overspending or living in luxury more than they can afford. Some people earn little yet they live well with a single source of income. These people have learned how to cut expenses and live within their income. But just as OP said, it is becoming very difficult to survive on one source of income. Most people I know who are living comfortably have more than one source of income.

Looking at it this way ,even though your salary is huge enough to cover your expenses and you don't live a luxury life, it isn't still encouraging to be living on only one source of income because if that one particular source of is closed your are likely to be doomed an may go broke especially if you're living in a country where there is no job, therefore even you're being ok with your salary,  one should source other means of earning money, should one close they will fall back to the ones.I have some that depended on one source of income because he was earning fat salary, bought car ,Mary a wife and also built a house while doing the job but now going broke because he lost that job last year.

Majority of us does have that single source of income on which it do came from our day job but pretty sure that there are people who do have 2 or more depending or basing up with their own skills on which we know that this is something will really be normal for those who are really trying out to make their lives way more better or on the sense that they wont really be having any shortage on the time that there would really be some potential problems that could happen into them. We do know that this is something inevitable within this life on which it would really be that a common approach to have. It is really just that there are people who are really that get contented on the current single job they do have as long it would be able to support your needs and your living then it is really just that fine but if you do fell short then it would be ideal to have
another one as simple as that.

[Findingnemo]

Just do the math, if your income is enough to cover the spending then one source of income is fine but its clear that it isn't so fine something else that pays you more than your current job or just adds side hustle spreads the burden for a while.

Comparing your income and lifestyle with someone of your same income range but a different lifestyle can't really justify your view so better focus on your income and how much that you expect to spend a month along with emergency funds if the income is lower or nil then as I said find something that can bring more money to your pocket.

A lot of workers are just coping with only one source of income. Yes, they still managed to survive but most likely they tend to be more hopeless and helpless many times just to make everything fit in their small income. Whereas if you have side hustles that pay you decent amount, budgeting would not be too tight plus you get to save spare money for future investment plans and for emergency funds. That’s the advantage of not limiting yourself to one single job, although it’s not easy but with right time management, you can still make it successful and productive.

Side hustle can really ease out the financial burden but people were too stubborn to come out of their comfort zones or they feel like they don't really have any skills that can be monetized but seriously anything can be monetized in this digital era even the most useless things and a lot of social media influencers like tiktoker becomes something that they never expected to become without doing anything at all but ofcourse there is no assurance but better try and fail than just regret about it the whole time.

[arimamib]

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Side hustle can really ease out the financial burden but people were too stubborn to come out of their comfort zones or they feel like they don't really have any skills that can be monetized but seriously anything can be monetized in this digital era even the most useless things and a lot of social media influencers like tiktoker becomes something that they never expected to become without doing anything at all but ofcourse there is no assurance but better try and fail than just regret about it the whole time.

That is an important aspect of the modern era when there is potential for individuals to monetize their skills, interests, and even seemingly trivial activities through side hustles, particularly in the digital realm. The opportunities presented by platforms like social media have democratized entrepreneurship that allows people to turn their passions or hobbies into viable sources of income.

The rise of social media influencers and content creators serves as a testament to this phenomenon. People who never envisioned themselves as entrepreneurs have found success by leveraging their unique personalities, talents, and interests to build engaged audiences and monetize their online presence. While there are no guarantees of success in the world of side hustles, the potential rewards, both financial and personal, can be significant. Embracing a mindset of experimentation and resilience can help individuals overcome initial challenges and setbacks on their journey towards building a successful side hustle.

[sulendra12]

Through out last year I find it hard to get things done with funds despite how my earning was and I find it hard to spend more on my bills around me , though I have been seeing some humans earning and paying bills with one source of income and I do ask myself how is it done

please your advice will be of help

Minimum wage on here doesn't even fulfill their monthly needs and they need to work harder and seek for additional income by doing side things such as freelancing or just adjust their bills to fit the minimum salary they get every month. It depends on where you live, people doesn't have access to these kind of things. But if you have then you have plenty of options such as online investments, life will change in the future.

[oktana]

First and foremost, you MUST cut down all expenses till the only thing you really have to pay for is something you need, though You can still occasionally buy what you want. While you do this, constantly look for other opportunities that could even get you employed with a better salary because if you don’t leave, your employer wouldn’t even increase your pay. It mustn’t be a new job that replaces the current one but can also be like an addition to the one you have already.

[Smartvirus]

I have been seeing some humans earning and paying bills with one source of income and I do ask myself how is it done

please your advice will be of help

I think the only thing that could stop you from having yo meet up your bills based on your finances is you!

Yeah, how much you earn might play a large role to that as, your single source of income could pay as much as 3 streams to other persons but still, to live okay, you need to be very precise and have a keen eye on your finances.

Inflation has become the other of the day and it’s rocking the economy of most nations and so, you have to be able to use scale of preference and decide on what is most necessary, a need from a want and what needs satisfying. It’s a teach yourself discipline and management to aid you survive. People do it and should you find yourself not meeting up with bills, you ought to practice some good management habits too.

[mirakal]

Through out last year I find it hard to get things done with funds despite how my earning was and I find it hard to spend more on my bills around me , though I have been seeing some humans earning and paying bills with one source of income and I do ask myself how is it done

please your advice will be of help

If their income is more than enough for them and they are living comfortably then there is nothing wrong with it.
You need to re-evaluate how much you earn and how much you need, some people could live with a single source of income if their salary is higher than the cost of living, but if you are earning a minimum wage then you need to look for other source of income or side hustle to maintain what you need and to have money to spoil yourself or family.

Know your cost of living. If you are living in luxury and yet you are only earning a minimal amount of income, hence adjust your lifestyle. If you can do that, you will not find any problem regarding having a single source of income.

However, not all the time we can stick to our budgeting without breaking the barriers. We still need to find some means for a greener pasture. That’s the time to expose yourself into side jobs. Or find another job that is more stable and is offering higher compensation that will still fit within your skills.

[justdimin]

Through out last year I find it hard to get things done with funds despite how my earning was and I find it hard to spend more on my bills around me , though I have been seeing some humans earning and paying bills with one source of income and I do ask myself how is it done

It depends on how much they earn from that single source of income. Some people earn more money with a single source of income than many might not be earning with multiple. If that is the case, there should be no confusion because they are earning more money than they need from that single source of income.

However, if that isn't the case and they are not earning a lot of money from that source of income, then you are probably only seeing what's on the surface, which means that you don't see the struggle behind everything because they are probably piled up with loans and debts but they don't let those things get on the surface and they are surviving by doing everything they can.

[boty]

First and foremost, you MUST cut down all expenses till the only thing you really have to pay for is something you need, though You can still occasionally buy what you want. While you do this, constantly look for other opportunities that could even get you employed with a better salary because if you don’t leave, your employer wouldn’t even increase your pay. It mustn’t be a new job that replaces the current one but can also be like an addition to the one you have already.

What you say is very true, by only having one source of income of course we have to limit all sources of expenditure and limit all desires that we don't really need and only use income for things that we really need, looking for other sources of income of course this will be very important if we think about our needs in the future, because if we don't have savings that we can use in the future of course we have to continue working until we are old, so it is very good if we have some source of income to be able to save and also if allows investing for the future.

[poodle63]

Through out last year I find it hard to get things done with funds despite how my earning was and I find it hard to spend more on my bills around me , though I have been seeing some humans earning and paying bills with one source of income and I do ask myself how is it done

please your advice will be of help

If their income is more than enough for them and they are living comfortably then there is nothing wrong with it.
You need to re-evaluate how much you earn and how much you need, some people could live with a single source of income if their salary is higher than the cost of living, but if you are earning a minimum wage then you need to look for other source of income or side hustle to maintain what you need and to have money to spoil yourself or family.

some time some people are just living with bare minimum and there are plenty of them, minimum wage exists to give us quick glance that the whole country probably made up majority by these people earning minimum wage and they could cope with it maybe because they lived bare minimum living in the cheapest rented apartment there is, also just eating the cheapest food there is for example instant noodles which might be harmful if consumed long term but what they can do, definitely just keep on consuming that.
the only way as you said is having side hustle to increase the income or find a job good enough you will get enough earning for living and still have some money left.
after all money not falling from the skies.
one way of them might be investing and trading, find a way to turn that money into some good profit for us to hustle around, adding income to another level.
by then we will be comfortable enough.

[Poker Player]

I usually recommend that people have several sources of income but the OP's problem seems to be not so much that he has only one source of income but that it is not enough to cover his expenses. A CEO of a company that earns millions has enough with one source of income, he does not need more, although it is normal that he invests part of that money and generates a second source of income with his investments.

You need to re-evaluate how much you earn and how much you need, some people could live with a single source of income if their salary is higher than the cost of living, but if you are earning a minimum wage then you need to look for other source of income or side hustle to maintain what you need and to have money to spoil yourself or family.

Right but the other side of the equation is to try to evaluate expenses as well, as oktana says. If your salary is not enough, you have to increase your salary or reduce expenses, there is no other, but better if you combine both.

[wxa7115]

First and foremost, you MUST cut down all expenses till the only thing you really have to pay for is something you need, though You can still occasionally buy what you want. While you do this, constantly look for other opportunities that could even get you employed with a better salary because if you don’t leave, your employer wouldn’t even increase your pay. It mustn’t be a new job that replaces the current one but can also be like an addition to the one you have already.

What you say is very true, by only having one source of income of course we have to limit all sources of expenditure and limit all desires that we don't really need and only use income for things that we really need, looking for other sources of income of course this will be very important if we think about our needs in the future, because if we don't have savings that we can use in the future of course we have to continue working until we are old, so it is very good if we have some source of income to be able to save and also if allows investing for the future.

The specialization required theses days, due to the wide breath of knowledge that exists, prevents most people to get more than one source of income, as they do not have the time, the skills or the knowledge to do this.

So most people will be better off by trying to raise the income they already receive, something that I will recognize can be difficult, since there are countries that have not recovered fully because of the economic crisis caused by the pandemic, and many business owners will not be very willing to offer a raise to one of their employees.

[teamsherry]

Through out last year I find it hard to get things done with funds despite how my earning was and I find it hard to spend more on my bills around me , though I have been seeing some humans earning and paying bills with one source of income and I do ask myself how is it done

please your advice will be of help

I know lots of persons that have only one source of income and are still very okay and even have enough to spare to invest and take care of extra expenses like going out on trips,  watching a football match or buying tickets to a music event, it all depends on the size of that one income stream, majorly you know that why most persons want to get any extra income stream is to compensate for high expense which their current income is not enough to accommodate or they plan on going into a new level of life, or maybe to invest.

You know the size if your income and you know if there is need to increase it or not, you can have so many income stream and you can have one it all depends on the amount coming in, if your current job can't compensate for your plans, expense and lifestyle then having an extra is relevant, and even if it does and you want to invest you can still find an extra job, it all depends on you 😉.

[Dr.Osh]

well, I'm pretty sure that they are really diligent in learning how they can earn money from one source of income. People may show off their accomplishments and accomplishments, but they rarely show off their failures.
I also have the same story as you. I see people making quite a lot of money from just one source of income. However, when I tried it, I got something very different from what they got. With this, I came to understand that they did not achieve this in a short time.
If you want to imitate them, or want to develop a business to get big profits, then you need to persevere and keep learning.

[nngella]

Through out last year I find it hard to get things done with funds despite how my earning was and I find it hard to spend more on my bills around me , though I have been seeing some humans earning and paying bills with one source of income and I do ask myself how is it done

please your advice will be of help

First, you need to know where your money is going.  Tracking all your expenses will help.  After that you will have the knowledge on where your money goes.
Second, look into the items that you spent your money the most.  Is it food? going out with friends? miscellaneous items?  Ask yourself if it is a need or just a want.  If it is only a want then you can minimize your expenses on this area and you can save the money or invest to to other necessities.
Lastly, it is always difficult to only have one source of income.  Hence, my advice is once you minimize your expenses then use the money to invest in order for your money grow.  You can put it in a bank with good interest, buy bonds, insurance, or stocks, or you can start your mini business.

[Promocodeudo]

Things has really gone very wrong in different countries, more especially African countries, for people to really survive their is a problem, coping with one source of income is not longer obtainable, the problem now is that to even see a job is no possible, hunger has become another name for most African countries, though some people that are earning huge are still making mistakes, most of them have the opportunity to invest their money in a meaningful business that can be making extra earnings for them but they prefer lavishing than investment, in conclusion surviving with a single source of income in Nigeria to be precise is not an easy thing because the current economic situation facing the country.