Head of Business Development at EDC Investments Limited, Elizabeth Odametey, has revealed that it is important for everyone to have multiple sources of income.
Giving a simple definition of sources of income, she explained that, it has got to do with all the things “we do that bring us money on a regular basis.”
She stated that “even God supports us having many sources of income and he stated this in Ecclesiastes 11.”
in an interview with Paul Anomah Kordieh on e.tv Ghana’s Christian Connect show, Madam Odametey said “We can never tell what will happen in future, hence, we need to prepare for it. The same way Covid-19 hit us and for some reason we had to go on lockdown. Some people lost their jobs in the process and many more, so you can never tell what will happen in the future. We need to prepare by having multiple sources of income or, it is good to diversify your income streams as much as possible, so that in an unexpected event or if a misfortune happens, you won’t be stranded.”
She disclosed that, most of the wealthy people in life don’t have one income stream.
“The average millionaire has about 7 different sources of income so, every now and then, there’s something coming in from one source or the other to cushion him,” she mentioned.
She noted “if you decide that you’re only going to stick to one source of income, you might be stranded cos anything can happen at any time so it is always prudent to have multiple sources of income.”
By: Gyamfuah Owusu-Ackom
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