Welcome to my blog and another wonderful edition of the Hive Learner's featured post. The financial aspect of our lives is something that needs to be taken seriously and given so much attention. Many people carry responsibilities way beyond themselves, and it shows in their financial lives. One problem we all face as humans is how to handle and grow our finances. Sometimes I wish we were introduced to how to handle finances at an early age; if this were the case, a lot of people would not have landed in regrets. Financial mistakes are ones that one lives to regret forever. There are certain financial mistakes we make, and we never get to recover from them.
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Truth be told, money is crucial and important to every human being. To live the life you dream of, you need money. To execute your every plan, you need finances to do that. This makes it very important that we take our finances seriously. Sometimes you get to meet people who are so good when it comes to academics and other aspects of life, but a look at their financial life leaves you wondering if it is really the same person. Some people are really bad when it comes to handling their finances and always need someone to do that for them so they don't jeopardize things.
Growing up, I saw a lot of families go into jeopardy and financial crisis as a result of a single mistake made by the father or any family member. Handling finances and getting it right is really not an easy feat; it takes a lot of trial and error before one eventually gets it right and becomes a pro at handling finances. Some people suffer financial instability as a result of the financial mistakes they keep making; they suffer this without even knowing it. Growing up with my parents, I did not really suffer when it came to finances. I got the best of everything; they made sure my needs were met even before I asked.
My mom owned a boutique while my dad was serving in the army. The family had multiple streams of income, which made things easy and got bills sorted out without stress. My dad is a salary-earner. Imagine waiting until month end before you get to sort bills, and before it was month end, the bills would have piled up, making the money not enough. This became our story when my dad was posted to Cross River State, and my mom had to close down her boutique and follow him because they did not want the family to live apart.
We moved to a new place, and while trying to figure out what type of business would flourish in the new location, we were spending her capital, and before you knew it, we were down to nothing on her business money. We were forced to depend completely on my dad's salary. That is when I realized that, as a family or as an individual, multiple streams of income are a catalyst to help one attain financial stability. Depending on just one stream of income might slow you down, especially if it's not big enough to cater for your needs and not talk more about those of others looking up to you.
So my financial advice is that multiple streams of income are the fastest way to achieving financial stability. It might be stressful and tiring, but to attain financial stability, you must practice multiple streams of income.
Thanks for reading my post.
