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How to earn during economic recession

Updated on March 16, 2011

Economic slow down has impacted us all . Many people have lost their jobs or on forced leaves . Companies have freezed salaries , increments are no where ,cut salaries , perks down . Most affected are banking and real estate related people . Impact on White collar jobs are greater than Blue collar jobs .

People have got loans which have to paid .home loans , vehicle loans , kids education loans , business loans .

These developments have forced people to think over some alternate source of income which can at least sustain them over this crisis plus make some solid foundation for passive income .

following are few alternatives

Save cash  - Deposit your  ready  cash , let them  earn you some interest dont invest in some fancy asset or purchase .

Use Internet's potential to earn set up blogs or create website of your expertise ,put down how to or provide some sort advisory for peoples day to day problem .Who knows you can hit popularity chart which can then be monetised in several ways .

Sell your skill to  colleges , consultant  ,schools , magzines or books . everyone has some sort skill or experienced which can be  passed on to people for  some price .eg  dancing , singing , musical instruments , sports , gymnasium .

Home business - Set up small home business like bakery , gift concepts ,  special candle making , greeting cards, jewellery design, leather bags   etc .In case it gains market then you can expand to  real business .Check ebay , magzines  for products in demand

Social Networking : Refer  people to employer s and earn some money out of it . Look out   for such opportunities on networking site eg linkedin , facebook ,myspace,orkut , xing etc .

 

Getting money  from alternate  sources  would help in meeting day  day expenses.Meanwhile update your cvs  and submit  it  to job portals

 

economic slow down across the globe
economic slow down across the globe

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