Moving on from the need to have some sort of financial education, it is important to remember the good old saying which tells us to, ‘never put your eggs in one basket.’ I think that is goes beyond a cliché or just a wise saying because it turns out to be a very great financial lesson for anyone who desires to have enough to go around. If you really want your take home pay to take you home then you must not put all your financial eggs in one basket!
Always remember that whoever is paying is may just be trying to get as much they really need to while cutting down on expenses. So you will find people who are not willing to pay much but they are willing to take as much as they can get from the people they are paying. They want your time and they want your energy. They want your brain and they also want you to commit as much resources as you can from your end to make things work for them. When you then commit all your time to one source of income then you are making things harder for yourself.
I think that in that last few days and months, I have heard more shocking news of people being fired than I have ever heard before. I have heard of people being fired for one reason or the other but in this case, I saw people that I know who got fired for no good reason. They were just called into some rooms and broke the news to them about their services not being needed anymore! Some of these guys were great guys in their places of work and they were very hard working. They knew their job so well and put in their best but it will not always guarantee them a place!
No matter how good you are, even if you don’t get fired, you can’t guarantee and increase in what you earn with any organization except by having another source of income. They may have promised you an increase and they may just suddenly say that the company is going through hard times and you will have to bear with them. When one company engages your time by paying you to show up, it is plain common sense for you to engage other people’s time with your own money as well.
A portion of whatever you earn is yours to keep and a portion is yours to invest. However, you need to remember that the part you invest is the part you are really keeping. I should also say that I don’t just believe in stacking money away somewhere and conclude that you already have something to fall back on. You can consider starting some other businesses that require small capital but will increase your daily cash flow and pay basic bills. Some of the things you can do include:
You may consider buying bonds from the government
Investing in hedge funds
Partnering with someone who has more time to start a business that serves the community.
Starting a business that provides what people need on a daily basis Gradually buying into a business from their stocks
Farming is another option because people must eat
You can also consider clothing because people have to wear cloths and shoes.
There are loads of other things you can actually do but the most important thing is for you to remember that your take home pay may never take you home if you keep working and trusting to earn your income from one source.
In simple terms, diversify your income!