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+--- Thread: Generate income or prioritize budgeting? (/showthread.php?tid=338)
Generate income or prioritize budgeting? - Debashis - 10-14-2023
Do you believe that actively seeking ways to generate additional income is essential for financial security?
Or is it better to prioritize budgeting and saving over increasing your earnings?
RE: Generate income or prioritize budgeting? - Heatman - 10-28-2023
Personally, I believe that doing both of them is better than doing just one of them. You need to make more money because with the inflation, no amount of money can ever be enough. Also, you need to work on your budget in order to keep your finances and spending in check.
RE: Generate income or prioritize budgeting? - arunima25 - 04-03-2024
I would say that doing both together is important. And I do that. I try to find more sources of income other than my job to generate more income. Extra sources of income don't hurt and everyone loves it. But I make sure that I don't stretch too much to put my health to risk.
No matter how much you earn, if you lack financial discipline, you would end up not having much. Having a budget helps to have that financial discipline.
RE: Generate income or prioritize budgeting? - Bizdustry - 04-13-2024
Prioritising your budgeting over profit is better. You could earn 1 million a year and spend all your profit on liabilities rather than investments. Thats how financial issues occur.