Should you focus on just one source of income?

[Kennysplash]

It is widely believed that an average person must have at least three sources of income. Other people discuss this idea that it leads to less concentration, even just one is okay.

What do you think? Will you diversify your source of income or stick to one?

 

[Magnus2022]

Diversification is very important because it helps to hedge against unpleasant economic downturn. Though diversification have its disadvantages like lack of concentration, inability to maximize potential and skils

 

[Sanjeev]

That's true one must have at least two sources of income but it's tough to do that. I always thought to start a side business along with a regular offline job but I never could as I get very little time to spare from the job.

 

[cherry123]

It is widely believed that an average person must have at least three sources of income. Other people discuss this idea that it leads to less concentration, even just one is okay.

What do you think? Will you diversify your source of income or stick to one?

Sure it is good to have different sources of income it will help to having extra money.

 

[nite001]

3 or more sources of income sounds hard. I believe focusing on one job would be good. With more time, one can better maximize their energy and reach for their greatest potential in their job. Having too man jobs would just cause them to be overly stressed-out, and in the end, result in decreased efficiency. If you have passion for your job, then you should do your best. Unless you are including investments as a form of income then I would agree that having 2-3 sources of income is beneficial.

 

[Enxx]

It is better to focus on one source of income that is stable than trying many and don't have time for them

 

[Sanjeev]

Yes, that's true when. If you have a stable job you should focus on it so that you may not lose it and when you get leisure time you should try some other work also.

 

[Niyi Briggs]

One source of income can never give you oceanic wealth. Check the very wealthy men, they don't have one source of income.

 

[averygirl]

I have many sources of income. I sell food like empanadas. I also tutor students. I print documents and I join forum sites and downloaded earning apps. Even if the earning is small I continue it because every cent matters to me. It can be tiring but I enjoyed doing various gigs to earn some money

 

[Shavkat]

In times like this, we need to have more than two jobs, either online or offline. The aftermath of pandemic showed the difficulties in earning. Good thing for the elite people, but not all people are like them.

 

[Golden9]

It is widely believed that an average person must have at least three sources of income. Other people discuss this idea that it leads to less concentration, even just one is okay.

What do you think? Will you diversify your source of income or stick to one?

I have already done so, but will love to add two more to the ones I have now. One of my jobs pays really late, so I rely on the other one for income a lot.

 

[Reedex]

Focusing on one source of income is not the best because you will need to expand and extend your earning abilities.

 

[nomad]

It is too risky to be depended on just one source of income.

 

[Springtime]

I am a freelancer working in translation which is my main source of income. But I also work on other side jobs such as surveys, PTP sites. I am thinking of offering business consultancy service to start-ups and SMEs.

 

[SHAHID987]

Although I do have more than one source of income but I focus mainly on one source of income, because I want to earn more and more from there, once my focus will retracted I will loose the required pace of earning from there.

 

[Stardom22]

I can't focus on one source of income. Nowadays depending on one source of income is like a suicide note for sure.

 

[riberet19]

I believe that one must learn several different skills and work several places if you want to maximize your earnings, I believe that there is always a little more room for learning

 

[Bisolami]

Sure it is good to have different sources of income it will help to having extra money.

You're right
Anyone who wants to be successful will never focus on one source of income. It is not nice

 

[oldbuddy]

That depends on how organized you are. If you have a good bookmark system and autofil logons to websites that are easy to earn from, you should be able to setup a routine you can walk through even when half asleep and make a lot more than concentrating on one source. Of course the one source I don't even need to think about is Social Security since they even deposit it straight into my bank account where my most important bills are set up on autopay.

 

[hastral45]

While it is advisable not to put all your eggs in a basket similarly a new beginners must follow one course only until successful before thinking of other businesses.