You are viewing a single comment's thread from:

RE: Common habits you need to do away with if you want to escape Poverty.

in LeoFinance • 2 years ago

Great awareness post Gloria, it gets one to reflect on their financial stand and plans! 💫🌟

Not having a side hustle that will generate passive income is another dangerous thing. Like I said yesterday, building wealth isn't about having a steady large income. It's about investing and having lots of side hustle that can generate passive income

True, coming from a poor financial background often comes with a lack of knowledge on how to handle finance and for most, it is just a trial and error until we get it right. Fortunately, the internet is now rich with information and there are books to extract lessons from people who have walked the path.

Indeed the side hustle is very important to practice considering that monthly income will never be enough for anyone unless they are in the 10% that gets paid well. Otherwise, the 90% just get paid enough to stop them from quitting and that just only 12 days in the whole 365 days for monthly salary earners or 52 days for those who earn wages. Given this circumstance, one should aim to have a side hustle and/or other means to grow their money through investment. Investment should be through calculated risk and one should have taken time to research first to avoid being scammed.

Those who are multi-skilled should still be able to focus more on perfecting one skill and share time accordingly with a side hustle to avoid losing focus and the disadvantages highlighted in your previous post link.

Sort:  

It saddens my heart when I see people having only one source of income that hardly pay their expenses do nothing about creating another income for themselves. Like you said only 10% are being paid well, the rests are just receiving peanuts. How will you now grow wealth if you don't think outside the box? We have the gift of the Internet, its high time people start taking its advantage.

Thank you so much for your amazing comment.🥰