How can it be possible coping with one source of income

[uneng]

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

Your post is too generic. We don't know how much your income is, how much your expenses are, how much the income and expenses of the 'humans' you are comparing yourself to are. Maybe you are spending too much on things you shouldn't, maybe your income is too low and the income of other people are higher, due to the kind of work they do, or maybe they have another sources of income and you don't even know, because informations about personal finances aren't the kind of thing people share with each other. There are so many variables that without further details we can't reach to any conclusions...

If you want advice you have to help people to help you by providing further informations and context.

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[xSkylarx]

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

For once, list all your spendings down to centavo so that you'll see where most of your money was spent. Probably you are too confident that you can buy it all because of your big salary, and you don't think now that it's enough for you. For sure, you are spending most of your money on wants like eating out at fancy restaurants or partying, and you just think that it is a small amount, but you are going every Friday, so if it sums up, you'll be shocked at the total of it.

[Plaguedeath]

It's either you find a better job or lower your expenses.

If you live in third world country, try to work abroad in first world country because you will make a good amount of money even though you're just work as waitress, cleaning service etc. That's the fastest way to change your life if you don't have an on demand skill.

[Y3shot]

It's either you find a better job or lower your expenses.

This vest way to manage the economy is just to look for a way to cut cost of expensive,  atleast taking this step can save one from managing money in this difficult times. Learning skills that can fetch one a double income can also help this time because it is not easy to rely on a source of income now that things are very difficult. Good management is what people needs to adopt to survive this difficult time of getting money.

[gabbie2010]

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

Making a Budget of your monthly expenditures and your monthly earning or income would help you to determine whether you are in a deficit, if so that means you either cut some irrelevant expenses or source for alternative source of income to augment your monthly income, though the other people you mentioned might have other source of income that you might not be aware of particularly there are plenty online investment that yielded guaranteed income probably that is what other people are earning alternatively as extra source of income thus it's up to you to also hustle to earn extra income if it is possible to do so.

[southerngentuk]

The struggle to make ends meet even with multiple jobs is a reality for many people, and it's not uncommon to feel stuck and frustrated. Your point about upskilling and seeking higher-paying opportunities is absolutely crucial. In today's dynamic job market, relying solely on multiple low-income jobs can be a risky and unsustainable strategy.

People's experience with networking courses and securing a higher-paying job is a powerful example. Investing in oneself through targeted learning and skill development can unlock incredible opportunities and significantly improve your financial situation. It's about playing the long game, not just chasing immediate income.

However, it's important to acknowledge that upskilling isn't a one-size-fits-all solution. While it's definitely a valuable path for many, it requires careful consideration and planning.

[Negotiation]

Every person should not be dependent on one income in life but should have or think of having another income along with one income. Any job or any income never makes a person independent there are some cases like if your income is more or much more then it is possible to do one job or one income to run a family and do everything else. In all other cases it is not possible to settle everything or everything from being dependent on one income.

[suzanne5223]

The struggle to make ends meet even with multiple jobs is a reality for many people, and it's not uncommon to feel stuck and frustrated. Your point about upskilling and seeking higher-paying opportunities is absolutely crucial. In today's dynamic job market, relying solely on multiple low-income jobs can be a risky and unsustainable strategy.

People's experience with networking courses and securing a higher-paying job is a powerful example. Investing in oneself through targeted learning and skill development can unlock incredible opportunities and significantly improve your financial situation. It's about playing the long game, not just chasing immediate income.

However, it's important to acknowledge that upskilling isn't a one-size-fits-all solution. While it's definitely a valuable path for many, it requires careful consideration and planning.

It's not something new that all fiat currency are losing there value which is one of the reason the world biggest investment organization are switch to alternative like Bitcoin but everyone who can't follow the trends presented by the economic in the aspect of financial activities will find it hard to make an end means and also have some investment/saving.
The frustrations feelings is not the solution and it's better to cut financial expense to what are the most important instead spending on something that are not most important even if get a high paying job and maintain the perfect financial expense it will still be hard to make a good end means.

[WatChe]

It's either you find a better job or lower your expenses.

If you live in third world country, try to work abroad in first world country because you will make a good amount of money even though you're just work as waitress, cleaning service etc. That's the fastest way to change your life if you don't have an on demand skill.

In first world country your income is increased and so are your expenses. I would prefer to stay in my country with my family rather then doing odd jobs in first world country. With advent of Internet, the world is at your palm and there are lot many ways you can earn via internet. Bitcointalk.org is also a great place to earn money via signature campaign and by monetising your services like lending, escrow services etc. It's up to you whether you watch reels on internet or spend time in earning money.  

[Ultegra134]

It's either you find a better job or lower your expenses.

If you live in third world country, try to work abroad in first world country because you will make a good amount of money even though you're just work as waitress, cleaning service etc. That's the fastest way to change your life if you don't have an on demand skill.

Sometimes seeking a better occupation isn't as easy, especially if your field of work is quite limited. Finding a secondary job is possibly the best solution, preferably a remote one, as commuting back and forth consumes time. It's a worldwide issue, and the increasing inflation is eating up our salaries. I'm now in a far better job, but my available income is far from what it used to be a few years ago. I was earning less money before and a little after the COVID-19 era, but I had a larger available income after paying all my expenses. 

[Stable090]

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.

How are you going to be leaving a luxury lifestyle when you know you are not financially stable? Then you are just trying to cause problems for yourself, don’t always leave above your standard, if you are trying to impress people, then you are just deceiving yourself, if you don’t have a huge income, then the money that you are supposed to use and invest or start up a business will end up being spent on luxury, and you will be the one to regret it at the end. Some people have just one source of income, and they are fine, they are using the money for the appropriate things that they are supposed to use it for.

[Mahanton]

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.

How are you going to be leaving a luxury lifestyle when you know you are not financially stable? Then you are just trying to cause problems for yourself, don’t always leave above your standard, if you are trying to impress people, then you are just deceiving yourself, if you don’t have a huge income, then the money that you are supposed to use and invest or start up a business will end up being spent on luxury, and you will be the one to regret it at the end. Some people have just one source of income, and they are fine, they are using the money for the appropriate things that they are supposed to use it for.

It all matters with someones self awareness and common sense on what are the things that you would really be gonna try to do on which its true that on who the hell would really be moving out their way of living on the time that they would really be having that kind of outcome or result? But surprisingly on which there are really people who are really like this on which they cant really be able to make themselves that do think
about the most viable way or reason for them to do on which they are believing on something on which we know that it cant really be something that to be believable on which they are really that
raising up their bars without having that sufficient back up and in result then they do mess up their finances and this do results out that they are really that having that bad decisions in life.

People would really be just that having those kind of thinking about making adjustments is on the time that they would really be experiencing for themselves about those hardship things.
Having a one single source of income is really that hard nowadays on which you would really be finding out yourself on such big trouble or challenge if you do only have one
due to the economic problems that we do have now.

[Viscore]

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

For once, list all your spendings down to centavo so that you'll see where most of your money was spent. Probably you are too confident that you can buy it all because of your big salary, and you don't think now that it's enough for you. For sure, you are spending most of your money on wants like eating out at fancy restaurants or partying, and you just think that it is a small amount, but you are going every Friday, so if it sums up, you'll be shocked at the total of it.

Focus on your needs, not on your wants. If you want to maximize your earnings and reduce your expenses, then you have to sacrifice some of the things that are not necessary in your life. Know your daily budget and stick to it. Because the moment you break your daily budget plan, and if you do it most often, you will end up struggling to manage your funds. No matter how big your salary is, as long as you never value every centavo of it, you will never be good enough to cope up with your single source of income regardless of how much you earn monthly.

[beerlover]

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.

That's one of the problems, in order to be hired for a single job, you need to be very good at it because competition is rough in most fields, unless you are someone like a surgeon or something. This means that you usually do not have time to learn one more thing or do one more job, and that's why it's always a trouble. This is why I agree that people should just do the job they are doing and do it better, make more money from your own job.

Earning more per hour from your job is the best thing you can do, get promoted, make more, it will lead you to have a good return one way or another. Give your years to a job and eventually you should be making enough, if not then you are not really doing a good job in the end.

[harapan]

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

Having only one source of income can be threatening to someone's financial security and financial wellbeing at large.For instance,if you lose your job unexpectedly or your facing several shotings/cut from your pay,it can rub you off your financial plans and disappoint you deeply with so much inconvenience.
  Some people finds it difficult to cope while some typically live well with one flowing source of income.Nevertheless,I think it depends on the financial plans or criteria that they choose to operate and adhere to.And here comes the 50-30-20 rule.The rule simplifies you put 50%of your money towards needs,30% towards wants,and 20% towards savings.The 50-30-20 rule is just a better option to guarantee you that you're on track with your spendings and likewise your lifestyle.
  Never depend on your single income,make enquiries to make/create a second source of income.If it will be too difficult,consult a professional financial planner for yourself and seek professional financial advice to avoid further mishaps.

[Raflesia]

It is a situation that is bound to happen because in the end with the income we have sometimes it is not enough to balance the needs and lifestyle that you run.
Actually it can be felt by many people but sometimes this also happens because we live too much without thinking about good financial management (I hope you are not offended).
Regardless of the size of the income, sometimes we also have to balance expenses with income as much as possible. Indeed, things like this are sometimes too easy to say but very difficult if we don't feel it but on the other hand this condition is also not an opinion that must be refuted but is a provision that we must carry out because after all when we really want to survive then we must be able to balance income with expenses for the needs we have.

[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.

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.

I really appreciate that you agree with me but then, please understand that having savings doesn't save you from poverty or stop you from working till you are old. What can do that is investments. Merely saving money should be for emergencies, if not, all the money you make will be spent and will be finished someday. So, if you don't want to work till you're old, find a way to make money that never stops coming in.

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.

And that is just the truth. You can never really stop spending because everything needs money. So it's best to find way to make more.

[Iroh]

Perhaps you’ve heard of inflation. It eats the value of your currency notes overtime so much that the purchasing power of an amount of money saved over a period of 7-10 years would lessen and wouldn’t be the same as at the time you saved it.
Perhaps that’s why you’re starting to find it difficult to pay bills and get other things done despite doing just that for the past several years.
Your income was just enough to cater to your bills and expenses. Now, with the constant rise in prices of goods and services, they’re simply not enough.

You also don’t fully know the financial situation of those people you look at and think they’re doing just fine and paying bills with a single income as they also did before. You’ve been assuming.
Comparing yourself and financial situation with others is plain dumb. Their household isn’t your household; along with differences in lifestyle. You need to focus more on yourself and forget about the income levels of other people.

[mamesso]

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

Paying bills by relying on just one source of income can still be done as long as expenses are not greater than income. People who have one source of income are more thorough and careful in managing their finances, they try to live a simple life by prioritizing needs over desires. When you find it difficult to cover all your bills even though you have several sources of income because it improves your quality of life due to feeling able to overcome all financial problems with the large income you have every month. When you are not able to manage the economy well, it will be very difficult to manage monthly expenses to cover all your expenses.

[WatChe]

Paying bills by relying on just one source of income can still be done as long as expenses are not greater than income. People who have one source of income are more thorough and careful in managing their finances, they try to live a simple life by prioritizing needs over desires. When you find it difficult to cover all your bills even though you have several sources of income because it improves your quality of life due to feeling able to overcome all financial problems with the large income you have every month. When you are not able to manage the economy well, it will be very difficult to manage monthly expenses to cover all your expenses.

If you have only one source of income then one has to "stretch your legs according to the coverlet". If your one source of income is business then one can rely on it, as it's variable and normally increases with time. Those who rely on monthly salary can also live a normal life easily but progressing further in life is a bit difficult for them. It's best to have a second source of income that goes to saving or in long term investment.