Post
Topic
Board Economics
Re: How can it be possible coping with one source of income
by
ndutndut
on 09/03/2024, 07:21:51 UTC
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

Only having a single source of income is not a good idea. There are no sure things in life, and a job is exactly one of those unsure things. It does not matter whether you work in a company for 30 years and have an amazing track record. The company will lay you off, if they have a crappy management. Sometimes even if they have a good management. You can never know.

The best insurance is getting multiple income sources, so if one goes bad, you won't be left desperate.
Its fine if you only have a single job but have multi investments that are generating decent profits. That way, even if you lost your job in the future, at least you will not struggle in your finances. However, if you only rely on a single job without having other sources of income, and have not made any investments at all, well that’s a very terrible case. You have to save a lot while working so you can invest in the future, like having bitcoin investment as your retirement.
The problem the OP is facing is that she only has one job, and in the last year she's had a lot of bills, so I assume she doesn't have any money to save let alone invest. There is only one way to overcome problems like this, namely by looking for additional income without disturbing your main job and learning to live frugally so you can pay off existing bills.

After everything is finished, then think about investing, because investment is not a get-rich-quick scheme, let alone crypto investment, of course for the long term. If you invest with less money and still have a lot of bills, I don't think it's a wise choice. The wise choice for the OP at this time is to continue to hone your skills so that your life becomes more productive, especially in the current technological era, it is very easy to find additional income, the important thing is to keep trying and not give up easily.