If you have fixed income it is easier to manage your finances as you know how much money you will be making. However, with variable income, it might be sometimes difficult to manage finances but you also get a chance to make it big.
Do you like fixed income or variable income?
- Thread starter nomad
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I prefer fixed income so that I know how much I can afford to spend. Variable income does offer the chance to get more than you expected.
It does make sense. We need to have fixed income to make it stable and do other ways to earn money. That would set in the variable incomes to gain more money.
There are advantages and disadvantages of both fixed income and variable income. When it comes to variable income, the earning potential could be unlimited in many cases.
A fixed income is synonymous with a job and I don't like it. I love the variable income associated with business because it can vary and get very high.
I live having a fixed income source, it makes it easier for me to manage my finances as I am sure of what I am making. Though it wouldn't hurt to have a variable source of income on the side, it can be a good source of extra income.
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I do not think you can have them both, fixed income is when you receive fixed salary, if your income is a fixed salary, how can you have variable income?
It is possible if the company can offer additional incentives despite having the fixed salary, which it happens in sales companies.
I currently have a variable income from my online job, which is quite unstable. I am hoping to supplement this variable income with a more steady source of revenue.
I prefer a combination of both fixed and variable income. Fixed income provides stability and security, allowing me to cover essential expenses. Variable income, on the other hand, offers the potential for growth and excitement, allowing me to pursue my passions and goals.
I like the fixed income however it is not easy to manager my budget because the pay is only once a month. Unlike before I get two pays a month.
When you have a fixed income, you seem to have an assurance of a certain amount. With variable income, nothing is assured.
