Post
Topic
Board Economics
Re: A steady source of income is a man's bottom line to support his family
by
Ayers
on 11/06/2023, 09:37:13 UTC

My friend's story sends me a signal: no matter how much I earn right now, try to keep my job and souce of income stable. I am also a family man and have responsibilities. Anything bad can also happen to me so I have to be prepared to the unforseen problems, although I am doing fine now. Make hay while the sun shines. If you have any advice for my friend, please let me know. Thank you.
That's why if you have a family or have a responsibility, don't just focus on one job. Because if you only focus on one job and don't have a business or expertise in other fields, when the company goes bankrupt or gets fired, you will definitely feel confused about finding a new job again. But it's different if you have a business or useful skills, when the company where you work has problems or is fired, you definitely won't be too confused about income, because you have a business that is already running and controlled. To start, you don't need to have a very large business, the most important thing is that you already have income and can be developed.

So the term is don't be monotonous and just stay silent when you have a job. Even though it must be packed with work schedules, try to start something new on the sidelines of the busy work. Want it to open a shop, or with other fields. And don't forget to keep saving and investing, because I consider these two factors important and mandatory in my life, and will definitely come in handy in emergencies.

With life getting more and more difficult, the cost of living is increasing day by day, and having a source of income can never be guaranteed, even if it is a high income. Indeed, we should have 2 to 3 sources of income these days because the unexpected can happen at any time. Although it will take us longer and be more tiring, for the sake of our families and to ensure the safety of our families, we need to make sacrifices.

No matter what job we do, we can't do it all our life, when we get old, no one will hire us, or we will no longer have the strength to do it. So I also agree with you, any man should have savings and investments. It is a must have, and it will be beneficial when we are old and can no longer work.

Here in my country, as you said the cost of living is increasing day by day. Which is true as inflation rises the value of products increases but you know what's the worst part? The salary of average working man still remain the same as a result, they couldn't even save money or invest. My thoughts about this is that never ever make a family if you're not ready yet, because those bare minimum salary only sufficient to one person. If you're living alone then you might save some money to invest so when the time comes you already have some backup money for you to support your family.

Not only in your country, but I believe it is happening everywhere in the world, and only low income people feel and are affected the most. But on the issue of salary increase, I know many people are very upset with the policy of no salary increase of the government. But in my opinion, when commodity prices increase due to global inflation and if the government also raises wages immediately, national inflation will also grow faster and be more difficult to control. Therefore, the salary increase will usually only be considered carefully before deciding. And as I said, each person should have 2 to 3 sources of income as the only solution to inflation.