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TIPS 9 Ways to Make Money During a Recession

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Kanvi

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Recession.jpg

Has the Recession Hit You Hard? Here are 9 Ways to Earn Extra Cash

The recession hit America hard and taught many us a hard lesson: the economy has its ups and downs. And like it or not. When it’s down, it affects all of us. I’ve seen friends lose their jobs, lose their life savings, lose their homes, even. But I’m not here to drag you down, especially if you yourself are experiencing the ill effects of the recession.

Instead, I’m here to help. I myself have had to make ma adjustments when the economy tanked. That meant trying to find some quick-paying ways to supplement my income. Before I start my list, I need to explain that when I say “quick-paying” I don’t always mean easy. To make the most of the stuff I have listed here, it’s best to treat them as actual jobs. Maybe part-time jobs, but jobs nonetheless.

By putting in the hard work, and committing to make it work, you’ll be able to earn decent money. Hopefully, my ideas help you through these lean times.

1. Rent out space on Airbnb

As bad as the recession is, it led to what is called the sharing economy. Without getting into fancy economic lingo, this refers to private people renting out their time or space to peers. Uber and Airbnb are part of this trend.

You can rent your place out to travelers and tourists short term. And you don’t even have to rent out your entire house; Airbnb gives you the option to rent out rooms.

You also get to meet lots of interesting people, which could expand your network. Also - if you're looking to use Airbnb to rent, please visit via the following link - http://www.airbnb.com. You'll get $45 in travel credit when you sign up!


2. Look into temporary employment

With all the new people you’re meeting, you may be able to get news about companies looking for temporary employees. I know being a temp isn’t exactly the most glamorous occupation out there. Countless TV shows portray temps as being at the bottom of the corporate ladder. Truth is, temps are an important component of the workforce. They let companies function during seasonal peaks.

3. Become an instructor

I once made pretty good money tutoring my neighbor’s kids. I was able to use my skills as an accountant during these lean times teaching kids math. Fortunately, their parents were familiar with me and my work, so they were totally cool with me teaching their kids.

So look into your skills and see what you can share. It doesn’t have to be academic, either. If you’re a mechanic, you can hold auto maintenance workshops. (I know I’d be way into that)

But before you jump in, I suggest looking into local laws and regulations. I was able to tutor my neighbors without any special registration because it was a small, personal deal. But if you’re business grows, you may have to look into registering… but hey, that would be a good problem to have, right?

4. Look into Municipal Bonds

If you’ve built a decent portfolio of stock investments, you may want to look into transferring all or part of them to municipal bonds. Municipal bonds earn even during recessions. Go online and search for sites like Hennion & Walsh that provide updated info on the returns of high-value municipal bonds.

5. Sell stock photos

If you’re already in the creative industry, producing and selling stock photos is a great, money-making outlet for your creativity. You can sell your pics on StockXpert.com for some supplemental income.

Make sure to diversify your subjects. You’ll have little competition with super-specific subjects like “baby wearing a banana costume while jumping on an orange trampoline” but how many people will search for that on a daily basis? Mix it up with some basic ones like “happy kid eating breakfast” for better earnings.

6. Hire out your tax skills

As mentioned, I’m an accountant. I know a lot about tax-related laws and regulations. Lucky for me, not a lot of people do. I was able to offer my services to people who couldn’t afford accountants from large firms. It was a low overhead because all I needed was a calculator, spreadsheet, and paper. I’m sure you can offer your skills, whatever they are!

7. Sell your old stuff

If you look into your garage or attic, chances are you’ve accumulated tons of stuff you haven’t used in years. Maybe you’ve held on to them hoping there’d be a time when you’d need them. Well, you could say that you need them now… you need to sell them! Holding a garage sale is a great way to earn some extra dollars while decluttering your home.

8. Mow neighbor’s lawns

Don’t snicker at this- mowing lawns isn’t just for kids. In fact, lawn mowing is big business. Many people hire professional maintenance people, which due to the economy, they may not be able to afford anymore. Time for you to step in, step up, and fulfill the needs of this market!

9. Start your own blog

We all have hobbies, whether it’s playing a round of golf or tabletop gaming. Normally, hobbies are expensive. They’re money sinks, not money-making activities. But the internet gives you the opportunity to actually make money off your interests.

You can start a blog using any number of free platforms, such as WordPress. You can then monetize your blog via Google AdSense or sponsored content. This is an awesome and fun way to make money during the recession!

Time to pick yourself up!

Some of the ideas here aren’t the sexiest. They’re not meant to. In times of trouble, you need to focus on recovery, not appearances. With some hard work and creativity, you’ll be well on your way to financial recovery.

Your Turn

The items on this list were based on my own experiences. Now it’s your turn to share. Did you find any interesting ways to make money during the recession?

Let’s hear your stories!
 

CaptainE

Well-known member
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#2
How do you come up with these ideas? I love the writeups you’re doing, they are very creative and are giving me a lot of ideas on how to save and make more money online. Keep up the good job.
 

alexa_ot

Active member
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#3
I agree with CaptainE on this. Some very creative write-ups on here. It has definitely helped spawn some ideas in my head that I otherwise wouldn't have thought off.
 

jipsyjo30

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#4
Another one would be house sitting or watching people's pets for them while they are on vacation. For the past two years I have been doing this occasionally for family and getting paid for it. Makes for a nice, supplemental income. I'm really good with pets and have even considered signing up with Rover.com.
 

earnthatbuck

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#5
Another one would be house sitting or watching people's pets for them while they are on vacation. For the past two years I have been doing this occasionally for family and getting paid for it. Makes for a nice, supplemental income. I'm really good with pets and have even considered signing up with Rover.com.
Great suggestion and easy money if you have friends with pets.
 

NickBlaine

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Thanks for these awesome tips on how to make money during a recession! I myself have experienced personal financial downturns a couple of times already. I’ve tried several of your suggestions here, including temporary employment (I did data entry and some other office tasks that are rote), and also doing odd jobs like babysitting, driving for an elderly neighbor, and mowing lawns in the summer (and clearing pathways of snow during the winter).

I take pride in all those jobs. They may not showcase that I have a college degree and have career aspirations, but they are all honest hard work. I would do all of them again in a heartbeat if I have to. I am also reminded of that former actor on The Cosby Show who currently works as a cashier on Trader Joe’s. He’s got a Yale degree and a history of acting gigs, but at the end of the day, he still chose to do honest labor because he could certainly use the income. I really think this sort of shaming associated with a non-glamorous job should be nipped in the bud.

Today, I mostly do online rewards sites and online tasks like taking stock photos, writing up content for clients and buying and selling stuff on online selling platforms. I agree with some of the comments on this thread - a lot of my “supplemental income” jobs have now become full time. I don’t mind at all. If it means lessening carbon footprint and not getting stuck in traffic while earning money, then I am all for it!
 

Naomi

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This is a pretty good list – hopefully, none of us will have to live through an economic recession. But it that does indeed happen, at least we have posts like this – as well as the entire Earn That Buck community – to get ideas and support from.

When it comes to topics like this I think one of the best ways to earn is to find methods you can “stack” one on top of the other. For example, you can turn your vehicle into a rolling billboard via Carvertise. That’s a good method, especially if you already use your vehicle for making deliveries, whether through apps like Dolly or Amazon Flex (you might have to work out your route with Carvertise before getting accepted, though). And since you’ll be out an about, you can rent your driveway or garage out. So you’re doing only one thing, but you’re already earning from three different means. That’s what I call the “earning stack” and it’s a great thing to do whether the economy is booming or in recession. It doesn’t matter – maximizing you earnings will always be a timely thing to do! Same goes with earning by answering surveys or watching videos on rewards sites – that’s something I could do while waiting in line.
 

Amos

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#10
A few years back, when the global financial crisis hit, I had trouble keeping up with my car payments. So I decided to rent out my car and driveway to help make ends meet. I’ve written extensively about renting out your car and driveway to earn money. But I never mentioned that I was sort of hard-up a few years back. Those two methods are awesome because you don’t have to actually do anything – just do some due diligence, and use various mobile apps to connect you with people willing to rent your car and garage.

After renting out my car, I decided to rent out my driveway as well, because, well, my car wasn’t going to be in my garage, right? So it was kind of pointless to not make money off my driveway in the meantime.

I had to do some balancing and figuring things out. How much could I make renting out my car and driveway compared to how much I had to make in monthly car payments? I also needed extra money to cover my commute to work (I was still part of the corporate world back then). In the end, I was able to make ends meet, and I totally recommend these methods!
 
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