How to Prepare for and Beat the Recession with a Side Hustle | by Stephen Dalton | Mar, 2023
EXTRA INCOME | BUSINESS | WFH
With the threat of an economic recession looming, many people are looking for ways to prepare themselves financially. One effective strategy is to start a side hustle.
A side hustle is a part-time job or business that you can do alongside your regular job to generate extra income. That is if you still have a regular job. The layoffs have already started.
It seems like just last year, employers complained they couldn’t fill positions, people had gotten lazy during the lockdown, and they didn’t want to return to work. Now, they’re looking to lay off thousands to keep up with profits. They do not care about you.
You need to look out for yourself. Even if you have an emergency fund saved in a bank, bonds, stocks, certificates-of-deposit, precious metals account, or whatever you have, that won’t last long in a recession. It is time to take matters into your own hands.
This article will discuss how to prepare for and beat the recession with a side hustle.
I will propose five side hustles to consider now to prepare for the recession, possible layoffs, and help you gain a part-time income.
Work-from-Home (WFH) with Freelance Writing
Every morning or afternoon, depending on how late I write, I slip into my slippers, shuffle over to the computer, and bang out a few articles.
Primarily ghost blogs for business websites and other website content. It’s an easy way to make money after you develop a routine and get a few regular clients.
If you are passionate about writing, freelance writing can be a great side hustle. There are many opportunities to write articles, blog posts, and other content for businesses and websites.
To start, create a portfolio of your writing samples and pitch your ideas to potential clients. To find clients, you can also join freelance writing platforms like Flexjobs.com, Upwork.com, Guru.com, or Fiverr.com.
A valuable writing platform is right here on Medium. However, don’t think you’ll start earning big money right away.
Another is NewsBreak. If you want to make a side hustle from writing about local news or reviewing local restaurants, sign up using my referral link, and we can both make more. Don’t forget to use your Medium and NewsBreak links when you write.
Beating the recession with freelance writing means you must focus on providing high-quality content that meets your client’s needs.
Always deliver on time and communicate clearly with your clients to build a good reputation. As you build a solid client base, you can increase your rates and generate more income.
Make Passive Income with Affiliate Marketing
Affiliate marketing is used to promote other people’s products and earn a commission on sales.
To get started, find products or services you believe people want and sign up for their affiliate program. You can promote these products on your website, social media, or email list.
To beat the recession with affiliate marketing, you must build a strong social media following and provide valuable content to your audience.
Focus on promoting products relevant to your niche and providing real value to your audience. As you build trust with your audience, you can generate more sales and earn a higher commission.
If you look at my Facebook/Meta page, you’ll see I post ten or twelve “ads” each morning and evening. With very little effort, I make a moderate income. However, I have many pans in the fire.
Make an Income with Little or No Upfront Money with e-Commerce Sales
E-commerce refers to the buying and selling of goods and/or services online.
By providing a product or service that you believe in, you can start an e-commerce business. To get started, create an online store on platforms like Shopify, Amazon, or WooCommerce.
To beat the recession with e-commerce, you must focus on providing high-quality products or services, competitive prices, and excellent customer service.
As you build a loyal customer base, you can increase your sales and generate more income.
Help Neighbors with Housecleaning to Make More Money
Housecleaning can be a great side hustle. Many people are willing to pay for a professional cleaning service to keep their homes clean and tidy. To get started, create a cleaning service and promote it on social media or through word of mouth.
Don’t wait to have all the equipment you need. If your client wants carpets cleaned or floors buffed, you can rent the equipment for a day or over the weekend.
To beat the recession with house cleaning, you must focus on providing high-quality service that meets your client’s needs. Provide thorough and consistent cleaning, communicate clearly with your clients, and offer competitive prices. As you build a loyal client base, word of mouth will help you gain clients to generate more income.
Walking Dogs Can Be Fun & Profitable
If you love dogs, dog walking can be a great side hustle. Many busy pet owners are willing to pay for a dog walking service to ensure their pets get the necessary exercise. To start, create a dog walking service and promote it on social media or through word of mouth.
To beat the recession with dog walking, you must focus on providing reliable and trustworthy service. Always show up on time, communicate clearly with your clients, and provide great care for their pets. As you build a loyal client base, you generate more income with more clients or higher rates.
Starting a side hustle is a great way to prepare for and beat a potential upcoming recession. These are only a few of the many methods to earn cash part or full-time.
By choosing a skill or interest, you can generate income from various talents to build a more stable financial future.
Note: This post contains affiliate links. Read my disclosure statement for additional information.
Stephen Dalton is a retired US Army First Sergeant with a degree in journalism from the University of Maryland and a Certified US English Chicago Manual of Style Editor. Also, a Top Writer in Nutrition, Investing, Travel, Fiction, Transportation, VR, NFL, Design, Creativity, and Short Story.
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