Earn Money How many streams of income do you advice for me to venture into looking at the economic situation?

[Kingsley]

Looking at the Economic trends, economic melt down and the rate of increasing bills to be paid and responsibilities from everyone around as family or friends, infact some families are practically begging for what to eat on the street. The situation seems to be getting worse by the day nobody seems to know exactly what to do to get out of the mess. As the more the work the less they earn this is due to the high rage of inflation in the country.

Now it's obvious that two streams of income may not be able to Carter for the needs and numerous bills that need to be settled. What are the practical steps that must be taken?

how many streams of income do you think I can venture into that will help me. And what type of business can help out aswell.

 

[moonchild]

One actually, it's important to be competent in your skill before you branch out trying to add another skill or steam, you want to do one thing incredibly well and be the best in it, if for example you start three business at a go, there will be a cognitive dissonance and you'll be conflicted on which you can spend your time on.

But by focusing on one business, you'll eliminate that and be able to focus on important stuffs like growing the business and getting the business to bring in revenue, after growing it and making money from it, you can then branch out and do something else.

 

[Abigael]

Having several streams of income is the best way to remain financially stable in this economy. This will ensure that you always have money flowing in and you can afford to pay your bills. You should therefore have your main source of income which is mostly your job but could also be an established business that gives your regular income.

Then you can invest in both active and passive investments that give you income to supplement what you earn from your main job. You should also have a savings plan for the rainy days.