Multiple source of income pays

How do I start this? Maybe I should go with the conventional “Good health is underrated” or “health is wealth” but I’m not going to bore you with stories of how my sickness has affected my life in the last 48 hours or how we all should take issues of our health serious. So many articles have done justice to that. And thankfully, I'm feeling better now.

Today I will be talking about having more than one source of income. In a country like mine where nothing is assured it’s advisable to be prepared for the worst. There's nothing like Job security or compensation for a broken contract. You can have a job today, with an official car and all and the next day you get to work, you lose it all. Nothing is assured. Even the pay in these firms isn’t something one can rely on. The value of the Nigeria Naira keeps on dropping every day but the average salary remains the same.

Talk to any salary earner you know and see how they complain about their situation. Not all for sure, but a great percentage of them. The salary they work hard for, for 30 days is always gone within two weeks of receiving it. The debt they owe before getting their salary is more than half of the salary itself.

Spread your wings

The solution for this isn’t far-fetched. It’s simple- Just spread your wings. If you earn $70 (Which is about the minimum wage in the country) and your needs are over $200 per month, you need to find something to do alongside the white-collar job you’re doing. People now have stores online. They upload pictures of things they sell on their social media platforms and those interested messages them, they pay and have a dispatch rider deliver it to their front door. These are things you can do in the comfort of your house or while on another Job. It doesn’t necessarily need your physical presence always. Just phone calls and finding reliable people to help you with delivery.

However, as  I do say, not everybody will be an entrepreneur. Not everyone will start selling one thing or the other online. So many Vendors on IG or other platforms are just doing it for the sake of saving face. They aren’t making as much money as they portray to everyone. Don’t get me wrong, some are making it really big from this but not all, moreover not everyone has it in them to start selling goods. What can people in this category do?

Invest in yourself

Invest in yourself. It’s as simple as that.

You are currently in Level 5 at work earning an average salary and you wish to earn more. Your work doesn’t allow you to take on other jobs like most people because of the time you spend at it. The solution is to work towards getting to a better level with better pay. Register for training. Get more certificates that will help your course. It won’t be convenient since you will be doing it after work or sometimes while work is ongoing but these are little sacrifices you need to take for the greater good.

Invest in stocks, real estate and others

Another solution is to invest in a different venture. If you can’t invest in yourself, you can invest in stock, crypto, NFT, Real Estate and many more. But all these come with their risks, so think well before going into it.

Whichever you decide on, you need to know that Confidence and self-reliance are the most important resources of all. People who are confident and self-reliant rarely need others. You will need it a lot when things start getting tough. You need to have your conviction, it’s what you will fall back on when the storm rises.

The key to gaining confidence and self-reliance is to be resourceful especially when it comes to problems that arise, so being a multi-tasking person is a great advantage because if one source of income for you stops working you have another to rely on and if this one also gives way you at least have three other sources of income. The world is full of opportunities and if everything goes according to plan you would have mastered some skills in the process, then why not put those skills to good use.

Most people are reluctant to try new things, they always ask themselves, "What if it does not work?" "Will I have wasted my time?"

But time waits for no one and you only get one life so why don't you take advantage of all your skills and try out as many things as possible.

"You need to have multiple streams of income."

"It's important to have a backup plan."

"It's better to be safe than sorry."

These are all common quotes and standbys we hear when we discuss the importance of diversifying our investment portfolio. They are also excellent ways to protect yourself from unfortunate situations that can arise.

Thanks for Reading! 🤗💚🤗