- Apr 16, 2018
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.
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!