Is one source of income enough?

Columnist Dazlyn Brown. Photo courtesy of Brown

Many people  have found that they have an entrepreneurial side that they never knew they had before the arrival of the coronavirus crisis. 

Nora March, a Florida A&M University student, was once an employee at Tallahassee Memorial HealthCare. Because she is considered a high-risk for contracting COVID-19, she had to find another way to sustain. 

She discovered that she was a talented nail artist and began doing nails. Now she is also an employee for Apple, working at home.

Deminka Robinson, a teacher at Paxon School for Advanced Studies in Jacksonville, has come to find that with the pandemic, her teacher salary is simply not enough to cover the life she desires alone. 

Most people in the United States say that their main issue in life is being stressed out due to financial limitations. 

A CBS News article reported that “financial worries served as a significant source of stress for 64 percent of adults.” Studies show that most of the working-class citizens in the U.S. think that they are not being properly compensated for the amount of time they put in and the work they do.

A newly found popular form of obtaining another source of income is by investing. Banks and brokers have made it easier now than ever to become an investor in all sorts of markets. The capital a person makes from their regular nine-to-five job typically funds their investment account. As long as a person remains committed to both by making both incomes a priority, that person now has two sources of income. 

Since the pandemic’s arrival and people started losing their jobs left and right, they have also started discovering that there are multiple ways of making money and that relying on one job is not enough.

Vashon Watson Jr., a transfer student, says that “having multiple sources of income is important because everyone wants financial stability. Having more incomes than one allows you to have a fallback plan if one of the sources falls through.”

Another way that people have been obtaining more streams of income is by becoming a social media influencer, a YouTuber, and even starting their own businesses and LLCs. 

By diversifying your streams of income, it’ll put more money in your pocket, thus putting less stress in your life. A lot of people may feel as though there is not enough time in their day, but there are options for everyone.