Ensure you have a side business

[Starmix]

With the high prices of commodities that we have today, our active income may not be enough for the family, especially on bills, so we need to have a side business. Having a side business, also known as a side hustle, means having a secondary source of income in addition to your primary job.

The most obvious benefit is that a side business can provide you with additional income, which can be used to pay off debt, save for retirement, or pursue other financial goals. Having multiple income streams can provide a safety net in case you lose your primary job or experience a reduction in income.

A side business can allow you to develop new skills and knowledge, which can be valuable in your primary job or in your future career. A side business can be a way to pursue a passion or hobby that you enjoy, while also earning money It can provide you with valuable entrepreneurial experience, which can be helpful if you ever decide to start your own full-time business.

Further, a side business can provide you with opportunities to network with other professionals and potential customers. Depending on the nature of your side business, you may be able to deduct certain expenses from your taxes. It can give you more independence and control over your time and income. The extra income from a side business can be invested to build wealth over time. It is a great way to test our new business ideas with lower risk before committing to them full-time.

Furthermore, a side business requires time and effort, so it is important to make sure you have enough time to dedicate to it without sacrificing your primary job or personal life.

 

[Augusta]

Yes, with this economy this is no time to depend on only one source. We just have to work on other jobs to make money

 

[Starmix]

Yes, with this economy this is no time to depend on only one source. We just have to work on other jobs to make money

Exactly mate, despite having a job, we still need extra cash through our side business big or small. What matters is, there is backup to our primary source of income.

 

[eLdavis]

Relying on a single side hustle can be extremely dangerous, not to mention it might even be enough to sort out all expenses in today's economy.

 

[Starmix]

Relying on a single side hustle can be extremely dangerous, not to mention it might even be enough to sort out all expenses in today's economy.

Agree with you that relying only on the primary job is crucial. This time side business is what people are doing to increment our finances. Prices of everything this time is significantly overwhelming.

 

[Augusta]

Exactly mate, despite having a job, we still need extra cash through our side business big or small. What matters is, there is backup to our primary source of income.

That's right the economy is really bD now so we just have to look for ways to increase our income