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Author Topic: How can it be possible coping with one source of income  (Read 1073 times)
hyudien
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March 17, 2024, 03:42:21 PM
 #181

That's true, perhaps one way is to look for additional work or side work. but not everyone can do it, because to do this in my opinion it requires more energy and time which must also be taken into account, don't force ourselves to do it if it will torture ourselves. and with time, of course when we do extra work or side jobs we have to be able to manage our time, where we are also humans who have to have time to rest, too much work is not good for our health.
and if you are capable of everything going well, what you have to pay attention to is money management so that everything can be better, don't let having a side or additional job make us more wasteful in managing finances, when finances start to stabilize then we can think about save or invest if that is what you want, because not everyone wants to invest even though it has been recommended, and to make an investment of course we have to be able to pay attention to many things such as emergency funds and others.
That's true, but if one income or job doesn't match the expenses plus lots of bills to pay, that's stupidity that really needs to change. And there is no other reason than looking for additional income or additional work, because that is the only way to get out of income and expenditure inequality without considering the time and energy to do it. When talking about not having time or being tired, everyone definitely feels the same way for those who are struggling to improve their lives because their income is low or mediocre. However, they are required to do this until everything is stable and then think of other ways to still have income other than the fixed income they earn, for investment, business or other efforts for better survival.
Money management must also be paid attention to, if we have limited income, then try not to have a lot of bills to pay, try to minimize everything well, this is where money management is important, because there are people who have large incomes but often their income quickly runs out somewhere, I think people like this when they have money they only think about being able to buy what they want, not what they need, and when the money starts to run out, they realize that they are confused about where the money they have went, even if they fix it properly. Get used to recording expenses, maybe something like that won't happen.
Indeed, everyone definitely wants comfort in their lives, one of which is financial, of course if their finances improve or are stable then we won't panic or worry, if we really want financial freedom then we should be willing to fight for life by working hard to earn money. because that is the only right way, it's just that not everyone can do it, there are people who are lazy to work even though it is also for their own good.

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March 17, 2024, 10:39:29 PM
 #182

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
The way you said "humans" made me fucking chuckle, are you an alien from outer space crash landing on the planet a few years ago and now you're trying to make ends meet?? LOL Cheesy

Kiddings aside, the very best solution for you is learning a skill that pays well, coding and webapp development/software development to name a few good examples, learning it so good you get certificates and degrees for it, and then starting your journey in a high-paid field. My friends who are in this industry chose cryptocurrency as their avenue as it's closest to home, given the fact that a lot of us are in here since the early days of crypto plus as a matter of fact, a lot of people in this industry pay their developers very well.

And even then it wouldn't really be enough, just right to "make ends meet" as you are saying. Thing is that depending on where you live, you may want to have two to three sources of income that are consistent or at the very least sustainable if you're going for investments. If you choose to just stick with one you're going to find it hard to just pack all your expenses for the bills, you might (most likely even) even not have enough money to even start up a savings account. Make your choice, live a comfortable life by not finding a new source of income or work your ass off and reap the benefits later?

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March 17, 2024, 11:31:15 PM
 #183

Everything depends on the way you manage things. It is wise to make calculations based on what you earn. When you make such calculations, we'll learn how to limit ourselves. When we don't take income into consideration, we'll end up in debt. Whether it is a single source or multiple sources of income, it doesn't matter at all. How we skillfully handle the needs and fulfill the family and personal needs is the success of our money management. If we've got the thought that the income source needs to be increased, then within the earnings we need to allocate more towards investment, which assures better income for the future.

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March 17, 2024, 11:32:24 PM
 #184

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

You haven’t been able to see your source of income being satisfactory to you because of what you must have been engaging to spend those money on. When you cut your coat according to your size, you’ll know how to fit into a particular style of living that will see your source of income as the most convenient for you. If you look closely at those that a source of income is enough for them, you’ll be surprised that they don’t engage in most of the things you’re always engaged in with your money. Sit down and do some checks on your expenses, get those things out of your life that you can still live without having them and are money consuming to you. After doing that, your personal expenses life will adjust and you can manage the new life set for yourself with that one source of income.

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March 18, 2024, 12:57:45 AM
 #185

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
This bill issue is  world wild, economy is becoming harder by the day and people are just pretending as if all is well mean while they are just suffering and smiling.  I myself sometimes I am equally sad whenever I want to buy something and the price has changed drastically I became angry and sometimes I might decide to leave what I proposed to buy before. And cut my expenses to what I could afford with that same money because that is the only way to eliminate the price hike. Or buying some few things and leave the rest for another Day.
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March 18, 2024, 09:43:03 AM
 #186

Everything depends on the way you manage things. It is wise to make calculations based on what you earn. When you make such calculations, we'll learn how to limit ourselves. When we don't take income into consideration, we'll end up in debt. Whether it is a single source or multiple sources of income, it doesn't matter at all. How we skillfully handle the needs and fulfill the family and personal needs is the success of our money management. If we've got the thought that the income source needs to be increased, then within the earnings we need to allocate more towards investment, which assures better income for the future.

Indeed, we should be able to adjust our own income to our circumstances and desires, don't force ourselves too much to achieve everything we want, if our financial situation is inadequate then it is not recommended to force ourselves. Balancing your income with your own needs and desires is a must, because that way we can run everything well, but if we can't balance the income we earn by managing it incorrectly then what will happen is only problems. It is possible that when financial problems occur, there are thoughts of borrowing money, where this loan will become a problem in the future because every time the interest will definitely be greater.

However, not everyone can make profitable investments, in my opinion it is a long-term investment, don't think that investment can be profitable in the short term. and I think before making an investment we also have to be able to pay attention to other things such as finances which must be stable, because to make an investment of course we have to be able to maintain it, don't be distracted when finances are in trouble, so not everyone can make an investment and everyone's desire is also their choice. It's different, it's not possible for everyone to want to invest in their life, some people just settle for saving.

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March 18, 2024, 06:08:11 PM
 #187

Everything depends on the way you manage things. It is wise to make calculations based on what you earn. When you make such calculations, we'll learn how to limit ourselves. When we don't take income into consideration, we'll end up in debt. Whether it is a single source or multiple sources of income, it doesn't matter at all. How we skillfully handle the needs and fulfill the family and personal needs is the success of our money management. If we've got the thought that the income source needs to be increased, then within the earnings we need to allocate more towards investment, which assures better income for the future.
If we earn an income with an accumulated minimum wage, it will be difficult to manage finances because that income cannot cover all basic needs and monthly bills, the global economy is currently experiencing inflation causing all price effects to increase higher than we expected, so the right solution is that We have to use our free time to do other work to get additional income, so make the best use of your time to achieve the right income to meet all your needs and it is better to reduce spending on optional necessities to allocate to your savings allocation so that you achieve financial freedom in the future.

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March 18, 2024, 06:59:31 PM
 #188

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
This bill issue is  world wild, economy is becoming harder by the day and people are just pretending as if all is well mean while they are just suffering and smiling. 

Well it’s not like they can do much else. If they stop smiling and stop trying, will anything happen? No nothing
Sometimes you have to push yourself to be happy so that you can keep going in life because if you don’t
you will be beaten by life. I’m not saying we should just pretend nothing is wrong but I am saying
we shouldn’t dwell on the bad things so much but instead work towards the future with a brighter perspective.









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.
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happen or be a part of it"

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Youngkhngdiddy
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March 18, 2024, 09:32:47 PM
 #189

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
  In my opinion no income is truly passive, it’s a sliding scale. People also underestimate the amount of work needed to set up a decent passive income stream. The time it takes to learn the skills required, then apply those skills, fail, learn more then try again (possibly several times) before your successful can be huge with no financial reward and even financial loss. There are certainly active side hustles that I wouldn’t suggest putting time into. Flipping products is very active. Drop shipping is very risky and unless you have managed to build a brand,is too easily imitated. Competitors can and will just undercut you. Youtube is very active, unless you can find an evergreen niche. Now if you have certain certain skills or an aptitude for these things then you can build successful side incomes. I guess the effort/reward can only ever be judged on a personal level.
  I think you should have multiple sources of income where possible as this lowers risk, however it is usually easier to increase income from current job/ career than it is via something completely new. Having a second source of income gives financial security, diversification, speedier goal attainment, improved savings, investment opportunities, skill development, flexibility, and a cushion against inflation. Having multiple sources of income will be the best for anybody. To develop multiple sources of income, you have to work hard and learn the required skills through online courses in 2–3 enterprises. In addition, you have to start saving and investing in various financial instruments such as fixed deposits, recurring deposits, shares and mutual funds that keep earning for your even when you sleep.
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March 18, 2024, 10:22:36 PM
 #190

Everything depends on the way you manage things. It is wise to make calculations based on what you earn. When you make such calculations, we'll learn how to limit ourselves. When we don't take income into consideration, we'll end up in debt. Whether it is a single source or multiple sources of income, it doesn't matter at all. How we skillfully handle the needs and fulfill the family and personal needs is the success of our money management. If we've got the thought that the income source needs to be increased, then within the earnings we need to allocate more towards investment, which assures better income for the future.
If we earn an income with an accumulated minimum wage, it will be difficult to manage finances because that income cannot cover all basic needs and monthly bills, the global economy is currently experiencing inflation causing all price effects to increase higher than we expected, so the right solution is that We have to use our free time to do other work to get additional income, so make the best use of your time to achieve the right income to meet all your needs and it is better to reduce spending on optional necessities to allocate to your savings allocation so that you achieve financial freedom in the future.
In my opinion it depends on where we are alone, if we live in the city it will be very difficult if everyone depends on just one source of income but we do have to look for alternative work to increase our income. Meanwhile, if you live in a rural area, you can still survive with a standard life, because in rural areas there are things where you don't need to spend a lot of money because if you are good at using land, it will be very easy to manage finances that come from one main source of income.

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March 18, 2024, 10:40:59 PM
 #191

In my opinion it depends on where we are alone, if we live in the city it will be very difficult if everyone depends on just one source of income but we do have to look for alternative work to increase our income. Meanwhile, if you live in a rural area, you can still survive with a standard life, because in rural areas there are things where you don't need to spend a lot of money because if you are good at using land, it will be very easy to manage finances that come from one main source of income.
Solo living can survive your salary alone but it also depends if your salary isn't that much and just fits you and your lifestyle. This is when many tries to change their lifestyle because they've earn much to sustain their lifestyle. Living with a lifestyle and living frugally are two different things and that's why many solo living people can't even sustain their lifestyle despite that they're on their own and alone because of many factors too not just with their kind of living but also with increasing rents.



 

 

 

 

 

 


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March 18, 2024, 11:15:40 PM
 #192

If we earn an income with an accumulated minimum wage, it will be difficult to manage finances because that income cannot cover all basic needs and monthly bills, the global economy is currently experiencing inflation causing all price effects to increase higher than we expected, so the right solution is that We have to use our free time to do other work to get additional income, so make the best use of your time to achieve the right income to meet all your needs and it is better to reduce spending on optional necessities to allocate to your savings allocation so that you achieve financial freedom in the future.
That's right, looking further ahead can give us motivation to try harder and be more persistent in looking for additional income. Almost all daily necessities increase every year, if the amount of income does not increase then we will continue to be depressed. Using free time to learn new skills, such as making money on the Internet by becoming a content creator, in my opinion, can also increase our income in the future. With a mediocre income, it is difficult to set aside for investment, but if we get income from other sources then it is very possible.


.SWG.io.













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poodle63
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March 19, 2024, 02:54:46 AM
 #193

In my opinion it depends on where we are alone, if we live in the city it will be very difficult if everyone depends on just one source of income but we do have to look for alternative work to increase our income. Meanwhile, if you live in a rural area, you can still survive with a standard life, because in rural areas there are things where you don't need to spend a lot of money because if you are good at using land, it will be very easy to manage finances that come from one main source of income.
Solo living can survive your salary alone but it also depends if your salary isn't that much and just fits you and your lifestyle. This is when many tries to change their lifestyle because they've earn much to sustain their lifestyle. Living with a lifestyle and living frugally are two different things and that's why many solo living people can't even sustain their lifestyle despite that they're on their own and alone because of many factors too not just with their kind of living but also with increasing rents.
the thing with salary nowadays, they are too small in increase its not a rare thing to see that a rent costs 70% of their whole salary and many people only got 30% of their money left to survive, sometime living frugal life just doesn't cut it because the state we are in is just really bad there need to be some change around the job and the place we are living.
in big cities in general its always full places that are too expensive for us to live in, it roughly reminds me of hongkong where renting an apartment with very small space already taking up so much of the salary of the people there which therefore since its so expensive they need to split bill with their colleagues renting small apartment just to make ends meet.
some place its just that worse.
the only way? pump that income, single source of income isn't sufficient nowadays unless its a really good job with quality income you might make ends meet and still save up some.

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batang_bitcoin
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March 19, 2024, 08:43:43 AM
 #194

In my opinion it depends on where we are alone, if we live in the city it will be very difficult if everyone depends on just one source of income but we do have to look for alternative work to increase our income. Meanwhile, if you live in a rural area, you can still survive with a standard life, because in rural areas there are things where you don't need to spend a lot of money because if you are good at using land, it will be very easy to manage finances that come from one main source of income.
Solo living can survive your salary alone but it also depends if your salary isn't that much and just fits you and your lifestyle. This is when many tries to change their lifestyle because they've earn much to sustain their lifestyle. Living with a lifestyle and living frugally are two different things and that's why many solo living people can't even sustain their lifestyle despite that they're on their own and alone because of many factors too not just with their kind of living but also with increasing rents.
the thing with salary nowadays, they are too small in increase its not a rare thing to see that a rent costs 70% of their whole salary and many people only got 30% of their money left to survive, sometime living frugal life just doesn't cut it because the state we are in is just really bad there need to be some change around the job and the place we are living.
in big cities in general its always full places that are too expensive for us to live in, it roughly reminds me of hongkong where renting an apartment with very small space already taking up so much of the salary of the people there which therefore since its so expensive they need to split bill with their colleagues renting small apartment just to make ends meet.
some place its just that worse.
the only way? pump that income, single source of income isn't sufficient nowadays unless its a really good job with quality income you might make ends meet and still save up some.
I would quit and find a cheaper place if a rent costs me around 70% of my salary. What kind of life is that? I'm only living paycheck to paycheck and it's like I am working for my landlord. No way, that kind of hectic life and I have no freedom at all. That's the reason why if someone is going to go with solo living, he or she has got more freedom to choose the place to stay where they can save more money and won't get into those expensive rentals.



 

 

 

 

 

 


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slapper
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March 19, 2024, 09:53:39 AM
 #195

In my opinion it depends on where we are alone, if we live in the city it will be very difficult if everyone depends on just one source of income but we do have to look for alternative work to increase our income. Meanwhile, if you live in a rural area, you can still survive with a standard life, because in rural areas there are things where you don't need to spend a lot of money because if you are good at using land, it will be very easy to manage finances that come from one main source of income.
Solo living can survive your salary alone but it also depends if your salary isn't that much and just fits you and your lifestyle. This is when many tries to change their lifestyle because they've earn much to sustain their lifestyle. Living with a lifestyle and living frugally are two different things and that's why many solo living people can't even sustain their lifestyle despite that they're on their own and alone because of many factors too not just with their kind of living but also with increasing rents.
the thing with salary nowadays, they are too small in increase its not a rare thing to see that a rent costs 70% of their whole salary and many people only got 30% of their money left to survive, sometime living frugal life just doesn't cut it because the state we are in is just really bad there need to be some change around the job and the place we are living.
in big cities in general its always full places that are too expensive for us to live in, it roughly reminds me of hongkong where renting an apartment with very small space already taking up so much of the salary of the people there which therefore since its so expensive they need to split bill with their colleagues renting small apartment just to make ends meet.
some place its just that worse.
the only way? pump that income, single source of income isn't sufficient nowadays unless its a really good job with quality income you might make ends meet and still save up some.
For what are we grinding day after day? To pay a landlord 70% for a closet in a concrete jungle? Absurd! Being thrifty isn't enough anymore

The bright lights of big city life promise much but give nothing. Hong Kong-like, right? Spending a fortune in a tiny location makes it hard to breathe. The truth? Suffocating. Splitting rent is survival, but it's not sustainable

A single income leaves you vulnerable; one slip and you could face financial hardship. Not if, but when you fall. Diversifying income is the key, not just increasing it. Consider that putting all your eggs in one basket is risky in our turbulent environment. We need a paradigm shift in how we earn and how we think about earning. Wake up: the old playbook is dead

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March 19, 2024, 12:39:12 PM
 #196

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
It depends on how much you earn, and I think many people have one income that is enough to meet their needs and also pay other bills. So it depends on how much income you have and how well you manage it, even if it is not enough, they can overcome it by cutting necessary expenses and living as is.
But for now, in my opinion, we have to be smart and independent so that we can consistently overcome everything without shortcomings or mediocrity. By having a side job or additional income, you can live in peace and financial security.
That's the point, I've seen people living great lives while just having a 9 to 5 job and no side jobs or extra sources of income. The reason behind that is they earn good enough and their pay range is way above their expenses, so everything is easily manageable with the only source of income they have.
It also depends on how good you are with financial management because there are some people who have high-paying jobs but they are still not able to manage everything with the money they earn and you will always find them struggling with their finances despite having a good income.
So it depends on how much you earn and then how you manage those earnings regardless of having a single or multiple sources of income.

I think it all depends on the wishes you had in your life. If your wishes are higher than your source of income then you will never be satisfied with the earnings you are doing at the moment. Some people are never thankful to God and they have a habit of just seeing people good in financial condition then them. These types of people will never be satisfied no matter how much they earn and no matter how much they spend it will always be less

You just need to understand that we can only try to be good financially other than that we must leave everything to our Lord's hands. You should work hard to earn but you should never be overwhelmed by the wealth

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March 19, 2024, 12:50:12 PM
 #197

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

You should be saving at least 25% of your income/salary. If you are not, you should think of changing your job. You might need to change your city and move to somewhere you can afford. If there are adult depended on you, they should look for job to make some economic contribution. You can't have a second income if you don't have a supportive primary income.
If your primary income is providing you some savings, allocating a part of it to promising cryptocurrencies would be a good idea. Stock market can also be a good plalce to invest depending on the stock situation your country have. And if you have a good balance, buying a real estate in Tier 1 city is still a good idea, even if the smaller towns get empty, Tier 1 cities are bound to increase on real estate demand.



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March 20, 2024, 07:17:17 AM
 #198

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.

Doing the maths thou isn't necessary cause ,if you're leaving in the city it will be very difficult if you're not earning much source of Income the maths doesn't matter mate you won't have to do any maths down you will know that this earning won't take you before the weekend,you have say it all mate if your income isn't your best satisfaction just find yourself something doing to make you earn much money ,
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March 20, 2024, 04:10:25 PM
 #199

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

Inflation is taking a large chunk of money from savings. Nowadays, it is difficult for many people to manage their expenses. For an average earner, having an alternate source of income is very important for survival. People are using one earning source for paying bills and groceries and another for future expenses. Limit your expenses, try to save for the rainy days, and have some budgeting and money management implementation. You should also try to invest some of your money into stocks, bitcoin or gold for the future.  Do not compare your lifestyle with any other person because the person might be more in debt than you.
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March 20, 2024, 05:33:42 PM
 #200

Everything depends on the way you manage things. It is wise to make calculations based on what you earn. When you make such calculations, we'll learn how to limit ourselves. When we don't take income into consideration, we'll end up in debt. Whether it is a single source or multiple sources of income, it doesn't matter at all. How we skillfully handle the needs and fulfill the family and personal needs is the success of our money management. If we've got the thought that the income source needs to be increased, then within the earnings we need to allocate more towards investment, which assures better income for the future.

I agree with you that is true. with those of us who have income but cannot manage it well, it is possible that money could be borrowed and ultimately leave us in debt. and in my opinion this can still be fixed by having good money management. If we can manage our finances well then there will be no risky actions such as lending money to people in the local area or the bank. I think this happens to many young people who prioritize style over needs.

In general, of course everyone wants financial freedom, therefore we must have an income and have good money management. If just one income is not enough then what you have to do is look for additional income such as doing additional work or part-time work, but To do this it is better for us to look at ourselves first whether we can and are capable of doing it or not.

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