Depending solely on other people’s income for whatever you want to do or achieve in life is one of the most dangerous decisions you can ever take.
Doing so can be risky and potentially detrimental to your personal success and breakthrough.
There are several reasons why it is unwise to depend on other people:
1. Lack of control: When you rely on someone else’s income, you are putting your financial well-being at where you do not have control, and it leaves you vulnerable to unexpected financial hardships.
2. Uncertainty: People’s financial situations can change unexpectedly due to job loss, salary cuts, or other unforeseen circumstances. Relying solely on their income can leave you in a vulnerable position.
3. Limited financial growth: Depending on others’ income can limit your financial growth and financial autonomy. This can hinder your ability to build wealth and achieve financial goals.
4. Lack of financial independence: Relying on someone else’s income can lead to a lack of financial independence. This can hinder your ability to make choices based on your own financial needs and goals.
5. No safety net: When you solely depend on someone else’s income, you lack safety net in case of emergencies. Building your own income streams and savings can provide you with a financial cushion to weather these situations.
6. Lose of Respect: When you always depend on someone for financial needs or support for too long, over time, you would lose the respect they have for you and your personal dignity would be easily disregarded.
7. Unfulfilled Dreams: When you have depended on other people’s support to achieve your dream and such support didn’t come as planned, it hinders the fulfillment of your goals and personal dreams.
8. You Become Bitter: Whenever those you depend on for help could not meet your needs or demands, there is tendency for you to become unnecessarily bitter towards them, which is totally wrong and ungodly.
9. It is A Shame Idea: There is nothing wrong in seeking for help in time of need or trouble. But it becomes a shameful idea when someone depend largely on other people’s support for continuous survival.
10. Dependency: When you depend on others’ incomes or support, you won’t be able to make meaningful, necessary and important decisions without subjecting such decisions to the opinions and suggestions your benefactors.
It is necessary and important to have a diverse range of income sources and to take responsibility for your own financial well-being.
*Worth Thinking About:*
What effort are you making now to the following goals?
1. Diversify your income streams,
2. Build your own savings, and
3. Invest and increase your financial literacy?
If you can do the above, you would become more self-reliant and less dependent on others for your financial stability.
I Wish You A Great Week!
*Gbenga Emiloju (DMPII)*