How to Make Money During A Recession?
By Side Hustle Bible
A Word About Me
My name is Tre Moone, the sole founder of SideHustleBible, a rapidly growing Instagram page. Creating and growing this page has helped me to leverage $15, that I earned from my first Fiverr gig to $2.3k through Instagram services, promotions, and affiliated marking. For those who are wondering, how could I do that? Do not worry! I shall cover that at length, a little while later.
I’ve started this blog because I feel that it’s my time to give back to the community. I want to provide hustlers from all over the world with the proper resources, tools, knowledge, and all the things that they need to achieve financial freedom in the money cramped crazy world we live in today.
I feel that everyone deserves the opportunity to follow their passions, but along with it, create financial freedom for themselves. Therefore, I am here to provide you with the motivation, resources, tools, knowledge, and all that is needed to reach your goals but without a dent in your pocket.
However, there is the option to leave donations to support this blog, but it’s a choice, and you’re not obligated in any way to do so.
How to Make Money During A Recession?
Recession in economics implies the trough of the business cycle, threatening the rise in trade and industrial activities. Recession results from fluctuations in spending patterns. This decline further results in unemployment and people suffer as they experience low standards of living due to investment losses. Recession shrinks the economy because of the reason that the demand and supply of products and services dwindle during the period of recession.
It’s a prevailing belief that recession ceases earning opportunities, but it’s a blessing in disguise as recession results in low stock and home prices. People who previously lacked stock shares and homes usually benefit from such situations owing to cheaper rates.
Investment in The Stock Market
Recession is prime time to invest in the stock market, especially for abecedarian investors, but the paramount thing to have here is patience. Buying stocks during a recession is like buying clothes on sale, and your investment in the capital will obtain value after a few months when the stock market recovers.
Buy low sell high is an investment strategy that is best suited for times like recession or atavism. To earn, invest your money when value stocks are cheapest, hold them for a while and sell them when stock market recoups equilibrium.
Real Estate Investments
Recession produces lower interest rates and drops in real estate prices; that makes it a favorable time to invest in the real estate sector or even buying property without paying hefty amounts.
For sellers, it is not possible to price their homes too high during a recession, thus making it the best time to invest in property and rent it out to rentals to earn high profits.
Availing Low-Interest-Rate Loans
Recession is the time to watch out for lower interest rates offered by banks. Novice investors can avail of these loans from the bank on low-interest rates and invest it on property or business and wait for the economy to stabilize and enjoy high profits then.
Selling Goods via The Internet
Additionally, you can make money by selling redundant items via the internet. This could be anything like used electronic appliances, clothes, or furniture. As we know, recession brings unemployment and a decline in wages, people may be more willing to buy second-hand, so it is prime time to sell.
Online Earning Apps
Technological advancement has paved paths for online earning accessible. Some apps allow you to make additional money. These apps enable users to earn a few extra bucks. Meanwhile, they are user friendly. Particularly concerning quick surveys, checking prices of goods in stores, and sometimes all you need do is install the app and get started.
Investment in High-Priced Metals
Another wise choice is to endow money in precious metals. The price of gold tends to rise during the recession as investors are looking for safe heavens, so if you invest in gold early, you may experience significant profits.
People possessing cash assets and on the outlook for another investment opportunity could lend money to individuals by becoming a money lender. With the rise in the trend of money lending, there are now websites that serve as interchanges between borrowers and lenders. Though this is a risky mode of investment, we all know “THE HIGHER THE RISK, THE GREATER THE RETURN.”
Investment in Primary Goods Companies
An alternative game plan would be to invest in companies that provide basic-need goods and services, for example, electricity, soaps, detergents, toilet paper, etc. These companies substantiate their worth during situations like recession or economic decline, so it is always good to invest in such companies during poor economic conditions.
This Week’s Featured Instagram Post
This weeks featured post comes from the well Instagram account @makingcentsoffinance The first million is always the hardest. You do not possess the skills and the knowledge yet to make one million dollars, so you learn while you build. However, do not forget that building wealth does take time, so just because you’re not a millionaire in a year, doesn't mean lose faith.⠀- Makingcentsoffinance
This Week’s Instagram Tip #1
Scheduling Your Posts
I suggest that you have a minimum of 7 posts ready and uploaded to later (A post schedule website and app that allows you to prepare months’ worth of content ahead of time) this includes with captions & hashtags already written, always. By doing this, you will have time to spend focusing on engaging with followers and replying to direct messages instead of constantly worrying about your post of the day.
Later Link: https://later.com/r/2d7622
I want to thank you for sparing sometime of your day to read this post. You should thank yourself as well; action takers rule this world, and today you took an additional step forward!
Title: Side Hustle: From Idea to Income in 27 Days