Having a single source of income is not a bad idea if you spend wisely. As a matter of fact, you can achieve your financial goal with a single source of income.

What differentiate you from others is not how much you earn, but how well you spend. Most single income earners who are mindful of their spending still achieve their financial goals.

In the end, it is your planning and financial discipline that matters not the amount of money you make.

Below are some of the tips on how to achieve your financial goals with a single source of income.

Tips On How To Achieve Your Financial Goal With A Single Source Of Income

#1. Prioritize Your Spending

Prioritizing your spending is one of the disciplines a single income earner must learn. In fact, They must understand the fact that they are not in competition with anybody, therefore they should never spend to impress anybody.

To put it differently, base all your purchases on priority and try as much as possible to avoid impulse purchase.

#2. Always Prepare For Unforeseen Circumstances

When you have a single source of income, you always fear for unforeseen circumstances. However, when you are prepared for this, you will not be under pressure should any financial emergency occurs.

In view of the foregoing, ensure you always save at least 10 percent of your earnings. These savings will always come to your aid when you are distressed financially.

#3. Have A Monthly Budget

Having a monthly budget will help you a lot as a single income earner. In fact, it is one of the best tips on how to achieve your financial goal with a single source of income.

When you adhere strictly to your budget, you will have control over your spending. Also, your budget will give you an idea on how to spend your money prudently while preparing for a raining day.

#4. Don’t Live Beyond Your Means

As a rule, never live above your means as a single income earner. When you try to impress other people, there is every likelihood of you living beyond your means.

However, when you are conscious of your spending, you will definitely get the financial freedom that you seek.

#5. Spend More Time At Home

One of the easiest ways to achieve your financial goals with a single source of income is to spend more time at home. Without an iota of doubt, you tend to spend more when you go out with your friends.

However, when you are at home, you will spend less and have more time for your family.

Source: http://www.24hoursreporter.com/2018/12/14/how-to-achieve-your-financial-goal-with-a-single-source-of-income%EF%BB%BF/

Must Read!!! Top 5 Easy Ways To Migrate To Canada From Nigeria ===> http://www.24hoursreporter.com/2018/09/24/top-5-easy-ways-to-migrate-to-canada-from-nigeria/

First to comment after the greedy poster first commented on his post

Nice article,

Mean while...

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Number 1 is on point.
No do pass yourself.

Save and invest; less emphasis on the former. No one got rich by saving money

Spend more time at home but hang out as often as you can.
There are several ways to hang out with people without spending a dime.
It's one life man. Enjoy it while you can.

Nothing as sweet as multiple source of income....... say so!

For the one source of income people, please, take note of what the OP is saying, it makes load of sense.

please which business idea can one do with 500k in Kwara ilorin or Oyo?

Fact is, when you are broke, you will automatically become an indoor man...

Cool

NokiaN8:
please which business idea can one do with 500k in Kwara ilorin or Oyo?

do cat fish on rented ponds

Avoid Nigerian girls

Nice

Avoid broke dependent girls/ladies

NLModsAreStupud:
Avoid Nigerian girls

lol

#5 is okay

True..

castrol180:
First to comment after the greedy poster first comments on his post

Technically you are the first to comment, but Literally you are the second to comment.

Sense will not kill me

How much u get op

My brother this can't work in this our great country






Be honest with yourself

Thanks OP.

Anybody that depends on only one source of income is taking a very big risk.

See 40 BRILLIANT WAYS YOU CAN START MAKING MORE MORE WHILE KEEPING YOUR DAY JOB.

learn to say NO

Nice points. Monthly budget is awesome. That can help u manage your expenses..

Also don't carry over load in the name of gf



Any ways, if u are interested in learning how to earn money online, kindly check out my profile and read my thread on how I make money online.

Freelancing is growing all over the world. It remains one of the best ways to earn side or full time income. To do well as a freelancer, u must learn competitive skill, learn to brand your self, package your brand and send out compelling proposals..
Well, I can teach u all these if u are interested.. Check my profile and read my thread on freelancing..

NLModsAreStupud:
Avoid Nigerian girls

You are very much on point. They will milk you dry if you are not careful

Nothing as sweet as multiple source of income.......[b][/b] say so!

For the one source of income people, please, take note of what the OP is saying, it makes load of sense.

More like Michael Olayemi Adesida "Say so"

Obagoblog:
Fact is, when you are broke, you will automatically become an indoor man...

Can relate..
Not being at shoprite this year.

NOTED

Mighti77:
Nice article,

Mean while...

Spice up your Naija Spirit with exciting Discussions, News updates, Gists & Trends | Sign up now to Connect your correct paddies @ http://naijapaddie.com.ng

Please I'll love to contact you

Good points. @op
Although I prefer to have multiple streams of income than having just one.

In this age and time, one source of income is not enough

24hoursreporter:
Having a single source of income is not a bad idea if you spend wisely. As a matter of fact, you can achieve your financial goal with a single source of income.

What differentiate you from others is not how much you earn, but how well you spend. Most single income earners who are mindful of their spending still achieve their financial goals.

In the end, it is your planning and financial discipline that matters not the amount of money you make.

Below are some of the tips on how to achieve your financial goals with a single source of income.

Tips On How To Achieve Your Financial Goal With A Single Source Of Income

#1. Prioritize Your Spending

Prioritizing your spending is one of the disciplines a single income earner must learn. In fact, They must understand the fact that they are not in competition with anybody, therefore they should never spend to impress anybody.

To put it differently, base all your purchases on priority and try as much as possible to avoid impulse purchase.

#2. Always Prepare For Unforeseen Circumstances

When you have a single source of income, you always fear for unforeseen circumstances. However, when you are prepared for this, you will not be under pressure should any financial emergency occurs.

In view of the foregoing, ensure you always save at least 10 percent of your earnings. These savings will always come to your aid when you are distressed financially.

#3. Have A Monthly Budget

Having a monthly budget will help you a lot as a single income earner. In fact, it is one of the best tips on how to achieve your financial goal with a single source of income.

When you adhere strictly to your budget, you will have control over your spending. Also, your budget will give you an idea on how to spend your money prudently while preparing for a raining day.

#4. Don’t Live Beyond Your Means

As a rule, never live above your means as a single income earner. When you try to impress other people, there is every likelihood of you living beyond your means.

However, when you are conscious of your spending, you will definitely get the financial freedom that you seek.

#5. Spend More Time At Home

One of the easiest ways to achieve your financial goals with a single source of income is to spend more time at home. Without an iota of doubt, you tend to spend more when you go out with your friends.

However, when you are at home, you will spend less and have more time for your family.

Source: http://www.24hoursreporter.com/2018/12/14/how-to-achieve-your-financial-goal-with-a-single-source-of-income%EF%BB%BF/

I'm surprised u didn't add "investments"
Invest or start a side biz with a certain percentage of ur income each time it comes in