It has become a cliche to say we need extra income streams, but many people still do not have one and that could be for any of these reasons. The first reason could be a result of the absence of adequate knowledge on why they need to have an extra income source and that part I will be clarifying in this post.
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The second reason why people may not have a second stream of income is because of their time-consuming job, specific jobs can be really time-consuming to the point that catching sleep is often a rare privilege, those with this job type are usually so stressed but the pay comes so well too that they do not see the need to have another stream of income.
Laziness, yes some people are just practically being lazy, these people are the ones who would say, they are just satisfied with getting food to eat on a daily basis, so they see no need to put themselves through any form of stress in order to make extra money.
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Why you should get a second income stream.
The ability to achieve financial goals faster: We all have that point we want to get to financially, some people are saving to get a car, get a new home, and other things. A second income stream is the best way to reach that goal faster.
Builds up hope against job insecurity: Layoffs can happen at any point, no matter how sure you are about that job, remember that you do not own the job, and even when you do, there could be an uncontrolled issue with it at any point, having a second income stream will prevent you from being stranded and completely out of cash.
Limits the possibility of gathering debt: People run into debt when they are short of money, and most likely the best option is to look for a loan. Having an alternative source of income will limit the chances of incurring any debt while you try to bounce back again financially.
You can live your dream life: Everyone wants to live their dream life, and everyone wants to enjoy certain life privileges but unfortunately, not so many people are able to achieve that. When you are able to put effort into building different income streams, then it would become easier to enjoy that dream life faster.
Trust me when I say I understand how difficult it is to build extra income streams, but we have to put in the effort, skill, and make necessary sacrifices to get things done.