Yes in business or real life one needs to set up a reserve balance, this way When challenges happen along the line, you have something to fall back on and that way it will make the impact of the challenges to be less on you and won't take away from you capital as a business person, or pushing you into debt just to pass through such challenging phase on the long run, and more also having multiple sources of income os another great way to keep yourself prepared ahead for any possible financial problem that may come along your way.
Reserve funds and emergency funds are really needed when doing business or dealing with our financial pressures. Business profits should not be used for personal needs, use this as our reserve fund in business. Meanwhile, the emergency fund is the financial foundation and debt is also the main thing that must be paid so that the interest does not increase and after the debt is paid off, the emergency fund needs to be replenished.
That's right, to keep our finances stable we must have many sources of income. Moreover, looking for additional money in this era is very easy, like business in today's digital era is very easy because without capital and without having a place of business or even products and services, we can do closing sales or marketing, namely selling or marketing people's goods and services. people who run businesses.
For example, you can promote your friends, relatives or traders in the market by becoming a delivery courier as an excess wage/profit.
Having financial freedom and independence go a long way to how one survives through any economic situation and what the impact of such will be on the financial well-being of that individual.
Everyone wants to have financial freedom so they can survive in any condition. To achieve this we must be able to manage the time to work hard while there is an opportunity because nothing is impossible if there is a will. Work hard on business and investments. Just like iron, which can easily be bent or shaped when it is hot and red, this is how important motivation and inspiration are, which will make us passionately hot so we can go all out in taking action to achieve financial freedom in the future.