FINANCIAL ADVISORY 101
It’s a world of uncertainties. Today, the prices of essential materials like food, clothing, cost of housing and even transportation have skyrocketed. As recently as ten years ago, one could earn #100,000 and live quite comfortably, but today, even a salary of #150,000 is hardly enough to take care of the basic necessities of life.

What then is the way out? How can one even begin to live well in times such as this? In today’s financial advisory post, we are going to be examining three top tips to living above the current economic situation. Get a pen and a paper, because you’ll be picking some very useful tidbits.

Tip Number 1: Diversify your income stream

Gone are the days when one could rely on a single income stream and live comfortably. One of the most important steps to living above poverty today is to diversify your income stream. Diversification simply means looking for other means of making money…legally. The 21st century word for this is ‘side hustle’. You can be a banker, a medical doctor, a web developer, and have a side hustle providing cab services, or baking, or consulting. The important thing is to have other outlets through which you make money. How can you create a side hustle, you might be wondering? An easy way is to identify your talents or gifts; the things you are really good at doing. After identifying these, the next step is to strategize on how to monetize those gifts. For instance, if you are really good at writing, you could begin a content creation business as a side hustle, or proofreading/editing; if you are good at teaching, you could begin a coaching business, etc. You could also begin teaching the skills you have to others for a fee.