The Hard Truth About Earning and Living
Years ago, when I was younger, I was exposed to motivational speakers and those of a business mindset who would share about the importance of having multiple streams of income. They would say, “Do not depend on one job,” or “No salary will give you financial freedom.” At the time, I didn’t quite grasp it. Perhaps because I had not yet experienced life as I have today or perhaps because I had not experienced the types of responsibilities that make you truly aware of that knowledge.
But as I grow, as life started to unfold and I started working and actually earning for myself, the meaning of began to make more sense to me. Today I wake up early and work at least four times a week, spending most of the day trying to do things correctly. But one day, I sat down and asked myself: if I continue with this kind of lifestyle for the next 5 to 10 years, will I have the opportunity to live in any of my dreams? Would it grant me any freedoms to do the things I truly cared about without worrying about financial restrictions?
The answer was obvious, no. It was then that I started to think about investment. I think many people find themselves in the same position today. We go to work every day, many picking up overtime hours or upgrading our qualifications in hopes of an increased paycheck. But when the month comes to an end, we seem no more farther than where we began. Even after your pay cheque is issued, the government may grab a significant portion due to taxes. And even after paying your bills, transport, food, and always or sometimes providing for family or friends, there is hardly anything left to save or invest.
There is simply nothing wrong with working hard. There isn't, but let’s face the reality: when you rely on a severely limited income – and the limited income is one that you always need to show up for work - is not sustainable for a long-term financial peace. So, I have come to realize what those speakers were saying. They were right about it all this time.
We all need a side hustle - whether it's a small business, a digital skill, an investment or even passive income from things like content creation, farming or property acquisition, something legitimate that can build over time to sustain ourselves even when we are not working. It doesn't mean you have to become a millionaire overnight! However, it means you have to be creative and thinking outside of your salary. Start with what you have. It does not have to be too much money, but over time, it can consistently grow.
Life will always provide challenges: school fees, health requirements, emergencies - one job, no matter how stable and secure as you perceive it to be, will not meet those life challenges, and provide you with peace of mind. The voices I heard growing up: "build another stream," "don't rely on your salary alone," "create something of your own" - was all the financial freedom they were talking about. I just did not get it, but now I do.
They have been right all this time. It's not easy as they say though, starting a business these days even isn't easy for those who have the skills knowledge and understanding. But I guess there is always a one or two easy small steps that anyone can always take.