No matter what profession we are in or what financial situation we are in, we should always think of alternatives to our financial income. When we have multiple sources of financial income, if one source of financial income stops, we will still get financial support from another source. I look up to my father and I always try to follow my father.
Having one source of income is never advisable. Everyone should have at least 3 to 4 source of income, this way you can be able to face life without much difficulties financially. Like myself I have 2 at the moment and I am hoping to make it up to 3 before the end of next year. Anyone that has one source of income is like sitting on a time bomb.
Of course there are differing customs all over the world, but some professional positions do not really allow people to have other jobs and/or other sources of income, and some of those positions might start out at more than $100k per year out of college and have upper salaries in the millions per year.
Sure those are not typical jobs, but your advice of multiple jobs do not necessarily apply to a variety of high paying professional positions that exist - especially in the west.. and yeah, maybe some of those kinds of positions likely exist in poorer countries too.. so for example, if a company hires corporate executives (or even start-ups), they might not want those people to have any other jobs, and they may or may not start out at high pay, especially in start ups, and some of them might get paid with company stock (equity) rather than receiving very much pay because maybe the company does not have a lot of extra cashflow, but they are looking for folks who are going to be dedicated 24/7 (or maybe not that much?) to carrying out their duties to make sure the company succeeds.
You have just give a typical example of our country Nigeria were some company would have to occupy their workers 24/7 working for them and they get paid peanuts I mean, they are under paid and yet doesn't allow people to look for additional source of income to keep their financial life afloat while they still working with them. I can vividly remember my Aunt working with a company then before she resign of that place was that she had no time for family especially her kids and the husband she was giving the company and 24/7 attention without drawing a proper map of her family to know how to situates and diversified her finance and was just working and spending on the family with mindset that her salary would be increased.
Along the line her husband isn't that comfortable with the whole working process and asked her to quite because she was only getting used by the company while they boost their income/GDP, and enslaved their worker to keep working for them, their salary were less than 100$ then, per dollars was around NGN 495, even some government workers then were being underpaid especially those we calls civil servants and most of them do not own a personal property due to the minimal amount they are being paid for the month and per year just as you said I can basically say that our country is another good place to point out and the only way to survive is being self employed Yes! Because one can do business and get 10x of the amount being offered by some offices or by some companies, anyone who is working with the government are indirectly or directly enslaving themselves.
Lets do small mathematics:-
If a company or a civil servants are being paid less than $100 (90$ at the rate of 1125 Naira) in my country, finds out how many years it would take them to build a house of at least the minimal 2 bedroom flat.
... Let say their salary is $90 x 1125 = NGN 101,250, then ($90 x 12 = $1,080)
Removing savings let say 30,000 - 101,250 = 71,250 remaining
Then we also remove house rent 30,000 - 71,250 = 41,250 remaining ( Our house rents are being paid yearly)
Removing feeding 20,000- 41,250 remaining 21,250
Then we can say the remaining 21250 is for billings and reserved funds..
So let do the remaining balancing.. main salary 101,250., everything as substracted will be multiple by 12 months (1 year) to know how long it would take any one being paid 101,250 (90$) to own a house.
Savings 30,000 x 12 = 360,000 per year
House rent 30,000 x 12 = 360,000
Feeding (foods stock) 20,000 x 12 = 240,000
Billings 10,000 x 12 = 120,000
Reserved fund 10,250 x 12 = 123,000
Then at least to finish and furniture a two bedroom flat in my country depending on the location is about 15, million for PortHarcourt Rivers State, for Lagos 30 million, for Abuja is 70 million above these depends on the land locations in those states.
We now used the total savings to be divided by each state to know how many years one needs to do a job of 90$ to get a house in my country.
15,000,000 / 360,000 = ~ 42 years, In Portharcourt River's state, 83 years for Lagos while Abuja is 194 years. Lols this till the next generation they won't be able to complete such building in that last place. This is to show how some people are homeless and can't afford any single property of their own. That's why we need a personal business and not to get enslaved by any companies or under paid offices.