5 Simple Ways to Increase Your Income Even During a Recession
by Mel @ brokeGIRLrich, March 11, 2023
Does the thought of a recession fill you with worry about your personal financial stability? Are you already struggling with the increasing cost of living? It’s not impossible to enhance your income during this financial downtime. Here are a few ideas.
Write And Self-Publish a Book
Got a great book idea? Now might be the perfect time to start jotting it down. Writing a book can be time-consuming, but once you’re done, self-publishing could be an easy and affordable solution. You’ll need to be proactive in promoting your work, but social media offers many free options to advertise.
Consider a New Job or Ask For a Raise
If your current pay doesn’t cut it anymore, it might be time to talk to your boss about a pay bump. If that doesn’t work out, don’t be disheartened. The job market can be intimidating, especially with high unemployment during a recession, but that doesn’t mean there aren’t better opportunities for you. So, stay positive and keep searching.
Rent Out Something You Own
One good way to get extra cash during a recession is by renting out something you own. It could be property, sports equipment, or anything else others might need. If you’ve got some savings, think about investing in self-storage spaces – more people are starting to see the benefits, including businesses.
Sell Things You Don’t Need
Over time, we all accumulate things we no longer use. These items can be sold for a decent price, even old gadgets like smartphones, tablets, or laptops. Remember, items like watches or jewelry can always find a buyer. Just make sure you’re okay with the price before selling.
Set Up a Savings Account
Finally, if you can save a little during the recession, go ahead. But, make sure your savings are in the right kind of account and managed properly.
March 11, 2023, Frugal Living.