Going by the current global economic
recession whirl-winding in different parts of the world, we can very well
imagine what the future holds for us if the trend continues unabated. One
income undoubtedly will not be sufficient to sustain our variety of needs. It’s
best to get ready for the worst and expect the best instead of vice versa. It’s
paramount then to have many incomes flowing into your finances than to have an apprehensive
future.
Extra Income has not harmed
anyone up till now, and it should not be hurting you either. If you are enthusiastic
to do that extra bit of work or travel, going extra mile for your employer, I
am ultimately sure you will be more than prepared to do so for yourself,
especially if you feel that it would improve the quality of life of you and
your households.
Extra Income involves hard
work and does not come for free but the kind of work you would want to do will
determine your energy level to be invested. A little bit of passion and inspiration
could get you off the mark therefore, the work becomes hobby when you are doing
what you always wanted to do. Let’s look at the reason in support of earning extra
income;
1. RECESSION: The current economic reality is a ginger tonic to
look in the other directions for extra income opportunities. Many companies
have laid down workers due to inability to meet up with their financial obligations
in terms of payment of salaries, bonuses, pensions and other allowances. Job
insecurity has been more prevalent now than ever before and the trend doesn’t look
any better with the introduction of technological gadgets taking the job
position of humans in the
workplace, consequently, it is a must to have one or
two side income.
2.
INCREASED
EARNING POTENTIALS: With extra side income, the earning potential is not
limited to your salary or fixed amount as long as you can increase your efforts
whenever you want to and this makes you financially independent one way or the
other. Side income can be a ‘SET AND FORGET’ venture where you set it up once
and earn residually for a long time to come.
3.
CONVENIENT WORK SCHEDULE: An extra side income business opportunities can be
carried out at leisure time, break periods, vacation, on training, on transit
form home to work, during holidays, weekends, and even while performing job tasks
related to your side income business.
4.
LITTLE OR NO CAPITAL: Most side income earnings require little or NO
capital to begin. Some side hustles are borne out of passion or hobbies while
some are conceived as a result of repetitive actions.
5.
SELF ESTEEM:
Many people who engage in extra income jobs radiate deeper confidence socially
more than their folks earning salary or commissions alone. The more side income
or extra earnings jobs you have in your kitty, the more confidence you display.
6. PREPARATION
FOR BIGGER ROLE: Engaging in extra
income activities will ultimately prepare you for a bigger role either as a CEO
of your own establishment or a managerial position in a top management level.
7.
JOB CREATION OPPORTUNITY: Your side income business could serve as an avenue for
others to be fully engaged. A salary earner who is also in the field of event
planning and management could as well provide employment for artisans, decorators,
Dj, Mc and a host of other stakeholders that is involved in organizing a befitting
event.
8.
SWITCH BETWEEN PAID JOB AND ENTREPRENEURSHIP BECOME
EASY: The switch from conventional
paid or salary job to being an entrepreneur is made easy when you are already
engaged in side income business opportunity.
9.
FINANCIAL
BURDEN IS LESS: Because you are not depending on a single income source,
the financial burden is often less than earning from salary alone. Mortgages,
insurance premiums, tax, tuition, service charges, subscriptions, etc, can be
offset without waiting for conventional monthly or weekly salary.
10.
RETIREMENT FROM
EMPLOYMENT IS EASIER: When you start
earning from side income early in life, it prepares a faster retirement plan
unlike when you are strictly dependent on traditional retirement age of 65yrs
or 35yrs active service whichever comes first as we have in many countries of
the world.
11.
EARNING EXTRA
INCOME BRINGS ABOUT DEDICATION: The
level of dedication devoted to extra income is apparently stronger compared to
the effort put in at your workplace. It has been observed over time that people
show more dedication to works that earned them extra income.
12.
TESTED AND PROVEN: Earning extra income and engaging in side hustle has been tested and
proven to cushion the effects of shrinking income among employees. I personally
ventured into project management and financial advisory consultant while
working as a marketer in Guaranty Trust bank plc, this extra side hustles
afford me the opportunities to travel out of my stations on all expense paid by
my clients and even having accommodations and breakfast in high end hotels and
resorts, explored diverse terrains and also earned more than my co-workers in
the bank.
In normal
course of a career, any individual can earn extra income through a job or a profession;
you will be earning extra income for the time you can spare on work on a daily
basis or leisure time converted to productive engagements. Feel free to share
this piece and send in your comments
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