Multiple Income; Recycle The Profit

The article I published yesterday A Baby And The Thoughts After talked about my thoughts about becoming a father. Another thought I dived into afterwards led me to ask WHAT IS SUSTAINABLE? I remember making a comment on FarmGirl's article Plowing Must Go On talking about recycling money.

Just the other day, I was thinking about a Eva toilet soap I used to buy for 100 naira in our local currency, after a while the price went up to 120 naira and then 150, 180 and later 200 naria. I remember buying it for 200 naira in 2020. Now, I tell you the current retail price in my area is 400 naira, double of what it was barely two years ago. This is one of the many things which their price has almost doubled in a space of two years. That led me to think about the salaries of salary earners and whether it had doubled or even increased at all within this time. Your guess is as good as mine.

Does the price of anything ever go down when there is a significant rise in the price? For instance, what will need to happen for Bitcoin price to fall back to what it was in 2020? Can it just happen overnight? Again, your guess is as good as mine.

One thing is certain though, the cost of living is in a constant rise, how can one keep up when the income is constant or not increasing at the same rate as expenses. People will always say cut your coat according to your size, in other words: budget within the limit of your earnings. We all know things are cheaper when you buy in bulk. How many people can afford to buy in bulk? A lot of people earn little or nothing at the end of the month and really can't save anything because of their expenses.

I can't blame a lot of these people as they are now family people and are burdened with the responsibilities that comes with having a family and children. Some of them don't help matters too as they often have more children than they can provide for. Saw a joke one time about poor people spending most of their time having the cheapest pleasure they can get with their wife and that is why they usually have so many children. Well, that is not the point now.

If I ever had any hope that the government of my country will provide jobs and improve the life of its citizen that hope has sailed out the window and out of our galaxy. One of the conscious decisions I made last month was how to invest more and take advantage of what I perceive to be an opportunity to build wealth. It is now, now is the time to build a foundation that wouldn't crumble when responsibilities come crashing and I say now because you have little or no responsibilities except for may be yourself.

A way to keep up with the constant increase is to have multiple streams of income. Have your hand not in every pie but in every bakery so you can make pie for people to put their hands in. One means of income doesn't cut it any more, unless that one means brings in a lot. But even at that, I would still advise you diversify. You don't necessarily have be a master of all skills or trade, people can do the work for you long as you can pay for their services. It is a common saying that little drops make an ocean, when you have multiple drops if income, when accumulated becomes something substantial and can perhaps keep you afloat (not sure about my choice of words).

In conclusion, it is not too late to start planning and you can always find a way to recycle your profit to making more profits with it. You can be the jack of all trade as it might just be the essential trait needed to survive.

Thank You For Reading 🖤🖤