Wednesday, May 30, 2012

How to Make Money During a Recession

The Money PitThe Money Pit (Photo credit: Wikipedia)

Every single day for the past few years, Americans have only heard about falling home prices and rising rates of foreclosures. Unemployment numbers are up, while the number of new jobs created month-to-month is down. Without a doubt, this economy absolutely provides some challenges. Even as you might be worried at night about your lack of control over your own job security, you might want to focus that energy into coming up with creative ways to make money during a recession. Let's be honest, there are still a million different ways to make more money.
THIS IS WHAT WE KNOW We know that employment is good. It keeps your schedule and your bank account filled. If you are one of the lucky ones, you have health, disability, and retirement benefits for you and your family through your job. You walk into work every morning and you interact with other adults--some are friends, some are not. Psychologists will often talk about how important regular employment is for the mental health of Americans and even state that the number one stressor in someone's life is a sudden job loss. So, overall, making a steady income and making money with a traditional job leads to happier, more secure individuals.
THIS IS WHAT WE DON'T KNOW Work is good for you, good for your financial future and good for the economy as a whole. That we know. Unfortunately, there is a lot about your job and your career that we don't know. We don't really know what upper management is thinking. We don't know how deep and how long lasting their cost cutting strategies will go. Will they cut back on employer-sponsored health benefits? Will they put in place a hiring freeze? Will they freeze your annual raise this year? Or, worst of all, will they terminate you and your colleagues? You just never know.
THIS IS WHAT YOU KNOW You know you want to make more money. You know you have the potential to make more money. And you can start a part-time business while still holding down a full-time job. You know you want to. You know you have some passions that could be marketable. Or you may have some talents and skills that others need. Are you an arts and crafts person? Then perhaps you can make money on the weekend selling your products at flea markets and fairs. Or, you might be a more "love-to-get-dirty" type and you might be able to offer gardening or mechanic services to your neighbors. There are literally hundreds of ways that you could discover in order to increase your income during this Great Recession. The wonderful part about it, too, is that you can start exploring these money making endeavors while still holding down your day job!
THIS IS WHAT YOU DON'T KNOW You don't know--you will never know--your full income earnings potential if you do not get out there and try. You don't know how much money you could be making in addition to your full-time job. If you don't explore any additional money making opportunities, you will never know what it will be like to pay off your debt, own your home outright, or live the like the wealthy do.
Every single event in our lives began with a spark of an idea, with a small seed of motivation. That spark was able to ignite a larger fire of passion and that seed was able to sprout into a bountiful harvest of inspiration. It is time to find out how you can make more money and increase your income during this recession without having to quit your day job. It is time to pay attention to that spark, let the fire burn, and find ways to fuel that fire.

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