Is It Time To Take The Second Source Of Income Seriously?
Your parents do a job and make a living. They put their money in the bank and got a good return from Fixed Deposit (FD). Now things change. What your parents did to make money, you may not follow everything to do well.
You are doing a job. You thought that your job would take care of everything and make a living without any tension. The way Inflation goes up, that's scary! Is your salary increasing to keep up with inflation?
You cannot afford to buy in the future that you can buy now with a specific amount of money. You have to pay more for that. So how would you make the additional income to support your family financially?
People are losing their job, and there is a high chance unemployment rate will rise. Many companies have already started laying off and they will keep laying off in the future. If you consider what's going on, and what is going to happen soon, you have to take the second source of income seriously.
It is not easy to start a side hustle after doing a full-time job. You do a 9 to 5 job. Is it actually a 9-to-5 job? You get up early in the morning and get ready for the office. You have to leave home for the office at least 8 AM. You have to be in your office before 9 AM. You should not be late.
Although office hour ends at 5 PM officially, most of the time, you have to work more. When you get home from the office, it is around 8 PM. You are totally exhausted and you don't have the energy to do something else.
If you do a side hustle, you take some rest and then get up to keep working until you go to the bed. It's hard. To make some extra money in order to support your family, you sacrifice a lot and work hard to ensure your financial stability.
You can look into passive income. You don't have to actively monitor everything, but you will get a consistent return. Earnings will not be huge, but they will add up and grow over time. It is better to start investing early to grow your wealth.
If you don't consider investing because you think you are young, you might miss big time. I think it is time to take the second source of income seriously if you want to prepare yourself to deal with challenging situations.
So what do you think? Please feel free to leave your comments. Thank you for reading this post. That's it for now. I'll be back with another post.
With or without regular job I think it is better to look for other sources of income as much as we could. Better to have more savings than less.