Need for diversified sources of income

Article Type

Article

Description

In his thought-provoking article, Muhammad Taha Tariq, an MBA from IBA Karachi, emphasizes the importance of having diversified income sources in today’s unstable economic environment. He critiques the common financial habits of young earners, including impulsive spending, status-driven purchases, and the tendency to prioritize social expectations over financial security. Taha highlights the importance of saving early, building emergency funds, and investing in avenues like mutual funds and dividend-paying stocks. Drawing wisdom from both modern financial principles and the Quranic lesson from Surah Yusuf, he advocates for self-discipline, long-term planning, and mindful generosity. The piece underscores that true financial stability stems from careful portfolio management, controlled lifestyle choices, and a conscious effort to save before spending.

Publication Date

3-30-2025

Pages

14

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