Are you comfortable with your basic income?

[MorganaX]

People are being contended with what they have not because that are actually comfortable with it but it's because they don't have a choice at that moment. No one is actually comfortable with their basic source of income and that's the honest truth, the inflation or economic condition is too crazy for anyone to actually be comfortable with that but being contended just like I said is the only way to cope with the situation.

[Cheema02]

It isn't easy without taking risk. Many people are comfortable with their basic income because of comfort zone and the main point is they are afraid of investing their money. Many people have ideas but fails to have even a low budget business as it needs guts to jump in the market. The best thing for investment is to know the trendings of the market, and for a smooth profitable business you need to keep the efficiency and effectiveness both parallel and the main focus ought to be on target market.

Analyze the pros and cons of every business before its commencing or else the conclusion could be terrible if you feel reluctant in the mid and it will end before its beginning. Try to communicate with a positive and loyal expertise towards you before taking any steps.

To build a successful business, risk is essential, but if you can calculate it, your business can succeed. In our gatherings, there are a lot of people who have huge investments and have unique and logical ideas that are actually able to grow into a successful business startup. But people don't want to take risks due to the fear of loss in business. I think people don't want to leave their comfort zones because, to build business empires, hard work and taking risks are the first requirements. So, if we have a good business idea and have enough money as a backup, then we should take risks in business. What's the solution if we don't succeed? I think before starting a business we should discuss it with our trusted and wise colleagues so we can be able to avoid making mistakes which may cause serious problems in the way to financial stability and growth.

[ChocolateBitcoinK]

People are being contended with what they have not because that are actually comfortable with it but it's because they don't have a choice at that moment. No one is actually comfortable with their basic source of income and that's the honest truth, the inflation or economic condition is too crazy for anyone to actually be comfortable with that but being contended just like I said is the only way to cope with the situation.

But I don't think it will be realistically possible to be satisfied with a limited income in the current context. If you cannot run your family properly with your income and are burdened with various debts, then how will you be satisfied? How does satisfaction come? Satisfaction comes from the solvency of a person, and to get this solvency, you must have such an amount of income through which you can run your family very well without any problem. And to get this satisfaction, you have to do only one thing and that is not to be dependent on your only source of income, but rather to create a separate source of income. When you see that your family is not running on your fixed income, then the only way to run the family is to increase the amount of income, and this is never possible if you have a single source of income, rather you have to create a separate source of income.

[gracreavix]

Man, talking about increasing your income, I feel the very first and best approach to take when wanting to increase your income is you learning a new skill in addition with what you currently have. If you're able to learn a skill and you are able to monetize that new skill, you can then be getting an extra income from that.

Or you could also increase your income by starting up a business. But this is for someone that already has a decent amount of capital already, you could then start up a business, business that could be generating income for you.

Then if you're someone that is already stable financially to some extent, then you could invest in something like real estate, Rental real estate properties, so that could give you steady cash flow monthly or annually, depends on the agreement you have with the person staying in your rental property.
So yeah, there are different ways, but for a start, for someone who is just starting, the best way is to pick up other skills, learn other things, and monetize them. Then you can scale into having your own business and also having investment, like rental properties and all.

[Bright0515]

I think having a shop is one good option and another thing I would suggest is having online business. You can sell products or offer services online without necessarily having a physical store.

A lot of people aren't really taking advantage of the Internet, having an online business doesn't mean that it has to be separate from the one that you do physically, as a matter of fact they can actually be the same but posting it online is all part of marketing and can help you to get across to a lot of people.

I believe having more than one source of income is a good way to grow financially if you’re not really impressed with what you earn as your basic salary.

And also in a country that has a bad economy having more than one source of income actually goes a long way in making sure that you don't end up struggling.

[abhiseshakana]

It isn't easy without taking risk. Many people are comfortable with their basic income because of comfort zone and the main point is they are afraid of investing their money. Many people have ideas but fails to have even a low budget business as it needs guts to jump in the market. The best thing for investment is to know the trendings of the market, and for a smooth profitable business you need to keep the efficiency and effectiveness both parallel and the main focus ought to be on target market.

Analyze the pros and cons of every business before its commencing or else the conclusion could be terrible if you feel reluctant in the mid and it will end before its beginning. Try to communicate with a positive and loyal expertise towards you before taking any steps.

To build a successful business, risk is essential, but if you can calculate it, your business can succeed. In our gatherings, there are a lot of people who have huge investments and have unique and logical ideas that are actually able to grow into a successful business startup. But people don't want to take risks due to the fear of loss in business. I think people don't want to leave their comfort zones because, to build business empires, hard work and taking risks are the first requirements. So, if we have a good business idea and have enough money as a backup, then we should take risks in business. What's the solution if we don't succeed? I think before starting a business we should discuss it with our trusted and wise colleagues so we can be able to avoid making mistakes which may cause serious problems in the way to financial stability and growth.

Another insight, today we face VUCA era, many financial consultant proposing a strategy that is balanced, defensive, yet remains adaptive. I think opening or starting new business in the meantime must be considered very carefully particularly regarding risk management and the scale of losses we can bear. VUC condition has a higher risk of failure due to fluctuating consumer purchasing power and volatile operational costs. Although it cannot be denied there are new opportunities created due to a shift in market needs.

So, for everybody see those big opportunity and dare to take on challenges i suggest don't start with business that need big capital, start with an assetlight business model expenditure, docused to meet primary consumer needed and ensure that business capital comes from a separate post of idle funds. Because on VUCA world increasing liquidity is a priority for maintaining financial resilience against unexpected risks (such as loss of income, sudden inflation, or an operational crisis in a business).

[slapper]

If something involves "doubling your money", I'd be very careful OP. We've all seen Ponzi schemes promising crazy returns shilled on this forum for years. Go check the threads about dead coins, they're detailed to death there. And when inflation hits, it's way easier for people like you and me to fall for these scams.

Cutting costs is rarely sexy, which I think is why you barely see anyone talk about it. The thing about spending less is that the money you don't spend is money you never had to earn and pay tax on in the first place! I know, a tight budget is boring. But if you don't have much yet, it beats most of the "opportunities" you'll find on this forum.

On that note, the people you know are still your best bet for moving up. Ever read Granovetter's old weak ties paper? It shows that people tend to hear about job openings through acquaintances rather than close friends. Your next better job will most likely come through someone you barely know. Not another online certificate, sorry.

And about those comfortable people you mentioned, getting comfortable is not a problem. Having zero savings is. Someone earning a little but has six months worth of expenses saved up is in a better place than someone earning twice as much with no emergency fund. That second guy is probably struggling to keep up with car payments. As for Bitcoin, it won't double your income. It might stop your savings from getting cut in half tho. With inflation as high as you said, that's kinda the same thing, no?

[puloweh555]

To be sincere there are people who are basically comfortable with their basic income because they aren't attracted to much responsibility..
I would want to know, what are the things you should be doing to increase your income. I know that investment is one of the major thing to do, but aside from investment (Bitcoin investment or altcoin) what other investment you think can increase the income of someone or person as we know?
For me, I am not really comfortable with my basic income and I am looking for a way to expand it to make it flow In a bigger way. As we know, the inflation is really high and everyone is looking for an alternative to double their income so that they wouldn't be that so much affected by the inflation.

Give ur candid inputs

Of course, it's not comfortable relying on a single income especially when we keep facing inflation every year. Besides investing the most effective way for us to increase our income is to be able to sharpen our skills and then use them for side jobs. Especially in this digital era there are quite a lot of opportunities to make money, from becoming a content creator, offering services or selling products if you have a knack for business.

There are also many places to invest besides Bitcoin and altcoins you can also consider other investments like gold. Everything still requires time and comes with risks, so don't expect instant results. What I mean is we should try to build multiple income streams at the same time because relying on just one source is risky, especially with inflation constantly rising.

[Hypnosis00]

Living comfortably with what we have gotten today is not good. Inflation continues to rise, and the best thing we can do to fight it is to increase our income as well to meet our needs or exceed them.

Wise people don't save money. They find ways to multiply. Now is the time to stop pretending that we have enough because relying only on our basic income is not guaranteed to be sustained tomorrow. If we have seen opportunity, as long as it's not illegal, we'll never lose it.

[The Cryptovator]

For me, I am not really comfortable with my basic income and I am looking for a way to expand it to make it flow In a bigger way. As we know, the inflation is really high and everyone is looking for an alternative to double their income so that they wouldn't be that so much affected by the inflation.

Give ur candid inputs

To be honest, I wasn’t comfortable with my basic income; from that point on, I got involved with Bitcoin. When I had been working abroad, I wasn’t comfortable with my basic or primary income. Often I had looked for the second or passive income. But abroad it’s not easy to do another part-time job after completing the company duty.

So the alternative was only working online. I have started searching for how to make income online and started watching a lot of things. At the beginning, I started blogs for AdSense, but it failed. Then start YouTube; earnings were started, and I received one payment, then suspended the account. Then start PTC, revenue shares, and so on; during that time, introduce Bitcoin and start the crypto journey. Today I am stable and have income from multiple sources. Thanks, God, I was introduced to Bitcoin.

[Jubilee58]

To be sincere there are people who are basically comfortable with their basic income because they aren't attracted to much responsibility..
I would want to know, what are the things you should be doing to increase your income. I know that investment is one of the major thing to do, but aside from investment (Bitcoin investment or altcoin) what other investment you think can increase the income of someone or person as we know?
For me, I am not really comfortable with my basic income and I am looking for a way to expand it to make it flow In a bigger way. As we know, the inflation is really high and everyone is looking for an alternative to double their income so that they wouldn't be that so much affected by the inflation.

Give ur candid inputs

There are some persons who are comfortable with their basic income, they think with their basic income, they can feed well, clothe themselves, and possibly take care of their immidiate family, therefore there is no need for other source of income. But it carries a very high risk when you only depend on one source of income because financial growth doesn't come from here. When you discover there is need to extend responsibility to other people, you will definitely know that one source of income is not ideal , and their is also a high chance of facing financial problems when your one source of income closes.

In the real world, there are times when one source of income can close up, and make one financially stranded, but when you have diverse ways of making money, financial door can never be closed against you. You will always make progress even when some of your income closes.

Someone can loose his job, and ones business can also liquidate, but when you don't wholly depend on them, and you have other businesses running in other areas, you be revived so easily. If you are working, try and esterblish a business, should in case anything happens to your job, you will be able to survive from your business, but when you don't have any, you face financial chaos when your job closes.

[Sobz]

People are being contended with what they have not because that are actually comfortable with it but it's because they don't have a choice at that moment. No one is actually comfortable with their basic source of income and that's the honest truth, the inflation or economic condition is too crazy for anyone to actually be comfortable with that but being contended just like I said is the only way to cope with the situation.

Their are people that are contented with what they have because it solves their basic bills, the thing they want and their are people who earn and this cant even meet up with the little of their basic needs and this of people are never confortble with their needs while those that earn amount that is able to cover up with their basic expenses are kind of comfortable because they dont make attempt or get worry about their income. There are people how their that not genuinely confortble because it is not enough to cover up their basic need.

[Yeesha]

People are being contended with what they have not because that are actually comfortable with it but it's because they don't have a choice at that moment. No one is actually comfortable with their basic source of income and that's the honest truth, the inflation or economic condition is too crazy for anyone to actually be comfortable with that but being contended just like I said is the only way to cope with the situation.

You're extremely right, and even if they are not comfortable with it, they have no option except to be contented and adapt, because nothing can change their situation, unless they have another source of income. How can one be comfortable with low basic income when you have a lot of basic responsibilities to fulfill. The situation of our economy is actually making our problems more worse day by day. Cutting down your expenses is the only way to survive this challenges. People are actually going through a lot but at the end of the day, they are working so hard and trying their best to ensure stability through proper management and utilisation of the resources.

[püsür]

Increasing the income is of course important but I think there is even something more important. Increasing the saving amount per month. Not only the income per month, but how much you can save from it is also important. What I mean is, as a person who made that mistake, sometimes we spend too much for unnecessary things. For example, we didn't need the coffee machines, we didn't need the massage equipment. These are some simple examples from my home. I would be much happier with a minimalist lifestyle. And these things add up in the long run. Thousands of dollars. They seem small when you buy but they add up a lot. So, increasing the income is very important but also being frugal and investing this money which we save from unnecessary spending is also very important.

[EluguHcman]

To be sincere there are people who are basically comfortable with their basic income because they aren't attracted to much responsibility..

Don't also take that for a good remark, people that are like that lives a very low esteemed.
Some only cares about how to afford their immediate needs especially the daily needs and they are just okay with the life they lives.

While others maybe striving to explore and increase their incomes to meet up their future plans and as well beats the inflation, those who are relaxed with their incomes keep shrinking and in a country where the governments are not considering the welfare of the masses, during recession is when they suffers the economy.

Everyone also wishes to live the luxury lifestyle but only those who has sufficient income flows meets the dream. Financial management is also a key point because some has opportunities of steady income flows but lost it due to lack of management.
Tough experiences like that can be tough of leaving individuals income rates back or behind because they failed to make good use of their times when it came.

[Nothingtodo]

If you are not satisfied with your basic income, then you can do some income-generating work along with your job or business. If you are a small employee, then after your office leave, you can establish a small business where you can do fast food or online digital transaction business. And if you are a businessman, then you can invest in some areas along with your business, such as buying land and selling it for a small profit. Or if you do not do any business or job, then you can do stock trading as a source of income where you buy goods at a low price and hold them for a while and later sell them when the price increases and withdraw the profit.

[Wahidcroposs]

First and foremost, one should be content with what one has and remain grateful to the Creator. However, in today’s world, the rising cost of goods has led to an increase in the overall cost of living. Consequently, it has become difficult to sustain a livelihood by relying on a single source of income. If you are employed or have a job, you should look to create an additional stream of income. For instance, you could save a portion of your monthly earnings to start a small business, or engage in freelance work on online platforms alongside your regular job.

[Junii]

To be frank, if you have ever benefited from online you would always want to run online business without having to involved yourself with physical businesses. Of course, what concerns online is always smooth without stress as no one would be bargaining price with you and whatever you fixed the price that is what people would purchase it.
Currently I love online, and aside trading or holding I believe people can do freelancing job or affiliate marketing.

That is exactly what i wanted to tell you but you said it yourself. I also prefer online whether for selling a product or a work like freelancing if i want to increase my income because in most businesses you just need smart work also you have a benefit like you will not just rely on a local customers of  your area you have a bigger number of customers to hunt but one thing a person has to make sure that in online the competition is high so a person has to make a proper strategy before entering in a market.

[fruktik]

When you want to talk about wealth creation, increasing your earnings will have to come from a place of investment and not from your job because no matter how your try to use the earnings from your skills and side hustle, it wouldn't be enough to make you become wealthy. However, proper financial management is also a key to building wealth just as you said because their are people that earns very huge amount but they are not able to manage it rightly in order for them to use it and wealth.

It’s so easy to talk about investing when you’ve never actually done it. If we really knew anything about the subject, we’d be writing about the risks involved in the investment process. Do you think that everyone who has gone down this path has become rich? That’s far from the truth. Only a few have managed to consistently turn a profit from this activity, while everyone else has ended up not only without a profit but also without their initial investment capital.

[Achalugo BTC]

Their are people that are contented with what they have because it solves their basic bills, the thing they want and their are people who earn and this cant even meet up with the little of their basic needs and this of people are never confortble with their needs while those that earn amount that is able to cover up with their basic expenses are kind of comfortable because they dont make attempt or get worry about their income. There are people how their that not genuinely confortble because it is not enough to cover up their basic need.

Exactly. Some people think they need to have a lot of money before they can live the kind of life they want. However, there are some people who earn little and still manage to live comfortablely. Life is not about how much one earns, but whether what they earn is enough to sustain their lifestyle and gives them peace of mind. It is important to be contented with what one has rather than indulge in things that could put their lives at risk or lead them into decisions that might destroy their future.