Side hustles can provide a much-needed financial buffer during tough economic times. And while some businesses may suffer during a recession, others can thrive. If you’re thinking of starting a side hustle, here are a few ideas to consider.
Start a Blog
People are always looking for information and entertainment, making blogging a recession-proof business idea. What’s more, it’s relatively affordable to start a blog, and you can do it from the comfort of your own home. If you would like to start a blog, but don’t have much money. You can buy your domain name from Name Cheap and you can get a free blog started with these options.
Sell Products or Services Online
If you have a product or service that people need, there’s a good chance you can sell it online. Whether you’re selling handmade jewelry or offering consulting services, starting an online business is a great way to reach a larger audience and make some extra cash. Etsy is well known for selling these types of items, but there’s also Shopify and many others.
Become a Virtual Assistant
With more businesses moving online, there’s a growing demand for virtual assistants. If you have administrative or customer service experience, you could start your own VA business and help clients with tasks such as scheduling appointments, responding to emails, and providing customer support. If you don’t want to go it alone, Upwork and Freelancer may have listings for virtual assistants.
Teach English Online
Are you fluent in English? You could make money by teaching English to students from other countries via video chat. This is a great option if you enjoy working with people from different cultures and want to work from home. This is also one of the most flexible jobs around. You are normally able to set your own schedule and work when it’s most convenient for you.
Do Odd Jobs
From dog walking to yard work, there are always people who need help with odd jobs around town. If you’re handy and don’t mind getting your hands dirty, this could be the perfect side hustle for you. Just be sure to set your rates in advance so there are no surprises when it comes time to get paid.
No matter what type of side hustle you choose, remember that research and planning are key to ensuring your success. By taking the time to assess your interests and skill set, you’ll be more likely to choose a business idea that’s right for you—and that has the best chance of weathering any economic storms that come your way.
Bonus Idea: Consider selling some of your stuff, or finding things at estate sales or garage sales and selling them on Facebook Marketplace. A good option if you can’t be around to meet people on Facebook Marketplace is to do porch pickup (here). You just leave the stuff on your porch and your buyers come and get it – its super easy.
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Tamila McDonald is a U.S. Army veteran with 20 years of service, including five years as a military financial advisor. After retiring from the Army, she spent eight years as an AFCPE-certified personal financial advisor for wounded warriors and their families. Now she writes about personal finance and benefits programs for numerous financial websites.
