The Money Matters: Create a Recession Hustle

A recession is coming, are you financially prepared?

If you haven’t been living under a rock lately, you’ve probably heard reports that a recession is lurking in 2021. Now Trump and his administration are saying that’s not true. They’re saying the economist experts are wrong. The economy is strong as well as the labor market. And they’re right… except for the fact a recession is coming despite the markets right now (or as a result of, depending how you look at it). And it’s probably not going to be anything like the recession we faced in 2007/ 2008, but an economic dip is on the horizon.

Let’s just use some basic high school education here to explain why a recession is headed our way. History, a subject every American was required to take in high school, shows that it often repeats itself, but more importantly, economic dips and recessions are normal. They’re patterns. It’s how the market corrects itself. Fine. Don’t like history (I didn’t either till later in life)? How about physics? One Newton’s laws states that what goes up, must come down. Okay, I’m dumbing that down a bit much, but basically what it’s stating is that a object will stay in motion until an opposing force of equal force is exerted on it. The object is the economy/ inflation and the force is the market correction. The cost of goods, services and living has steadily increased over the past 5 years because the force of the market hasn’t yet corrected itself.

I was gonna jump to math if you weren’t a physics fan, but I’m not here to battle why there will be a recession. I’m here to help you get prepared for it. And if one never comes, well then guess what? You have a stash of extra money you’ve been growing over this coming year. Otherwise, hustle. Your “recession” hustle is going to be different than your regular hustle as it’s going to be an independent service from one that you’re already offering now. I’m deciding on whether or not I want to do résumés for people or proof read and edit documents.

Editing, for me is easier, but the need for resumes is greater which means more business. More money, essentially. Hey, I could do both. But what makes the recession hustle different or possibly have a greater impact on increasing your finances? It’s gonna be more cut and dry. No package tiers or multiple offers. You’ll market it the same way and provide samples of your services, portfolio if necessary. And you’ll do far less negotiating. Prospect clients will either take your offering as is or not all. This hustle doesn’t have time for the nitty gritty back and forth. Technically, neither do you.

We have 4 months left in 2019 so it’s imperative that you squeeze in an extra hustle if can. If you can’t? Then the hustles you’re already performing need to go hard. You need to find more creative places and platforms to market your hustle. Reach out to more people. Connect offline more frequently. You need to dig out every tool and assest under your belt. Make this time matter.

Too many of us were caught off guard by the last recession.  I was working in a department store in college and was laid off because of low sales as a result of the recession.  Lost my little part time. I was living off campus and supporting myself at the time. So, I felt that lack of income deeply and immediately. I never want to feel that again. Neither should you.

Small Hustles Into Big Gains

I’m a personal believer that if you want to succeed, accomplish or tackle anything in life, you gotta start somewhere. And oftentimes, “somewhere” is a small, tiny place only you can see. Believe you me, I know. But starting small doesn’t mean you have to stay there. It’s just a place you gain experience, you get familiar, to better understand and even to be inspired from.

I’m going to be sharing some links and information in the coming weeks I think a hesitant but in the making hustler can dip their toes in a s see if they like the water. After all, I hope you’re reading my site because you’re interested in earning extra money you can be in control over.

For those of you skeptics who are curious if you can (some kind of) money online, try CoinOut:

https://coinout.com/referrals/new?r=RXYHXH6

It’s like the Ibotta app, although every receipt earns money back. Not a lot and not all at once, but it’s something. And when you’ve reached a $20 threshold, you can transfer the funds to your bank or open on online savings account with HSBC with a 2.23% interest rate. Just sayin’.

Big goals aren’t always accomplished they way you imagined. So take a chance and try something different.

Money Matters: Cutting Back on Your Spending

As a hustler, one of our biggest obstacles is money. I mean, isn’t that the reason we got into side hustlin’ to begin with? But not just making more money, but managing it, saving it and as we all do at some point, spending it. But sometimes we forget to shift our mindset about our money from spender to saver.

One of the best ways to get in the habit of saving more of our hard earn extra greenbacks is to start cutting back on the things we’re already spending on that we don’t need.

Side hustlin’ is not about wants, it’s about needs. Supporting the needs, fulfilling the needs, saving for future needs and of course, needing to earn more. Wants go out the window (at least for a little bit).

To help you better manage your side hustlin’ money, cut back on your Starbucks or Coffeebean drinks. Skip Kindle for your books and go to the library. They got digital copies too, now. Pack snacks for on the go and lunches for work. Bring water with you wherever you go to avoid the temptation of spending on convenience store drinks. Limit your Uber or Lyft rides to a reasonable number and on a need basis per month. Shop at the Dollar Tree for office and work supplies. Need a better outfit to impress a prestigious client? Good Will. Or ThredUp. Or Poshmark. Second hand is your friend.

As you can see, whatever you need to get your side hustle off the ground and start bringing in real dollars begins with you first changing where your money goes. If you wanna see more money coming in, start by letting less money go out. Then your side hustle money will really look good. Hello!

Side Hustlin’ Sunday: GigWalk

So, I just started using this new app thanks to The Penny Hoarder called GigWalk.

It is an app that allows you to earn extra money by “walking” to various retail stores and taking pictures of the advertising content displayed at the those stores. The “client” – I’m assuming is the agency responsible for the marketing materials – have individuals like ourselves verify the ads are posted in selected stores by taking pictures of the advertisements in the app.

How it works once you download the app and fill out your information, you apply for gigs close to you and wait to hear back if you’ve been accepted. Act fast because what I’m learning is that the gigs fill up fast. And once you apply, you’re given a choice as to when you think you can get it done… within 3 hours, 12 hours or 24 hours. And whether you selected for more gigs depends if you complete the gig or not.

All payouts are deposited into your PayPal account and each successfully completed gig is paid from $4 to $10.

Good luck.

75 Bright Ideas

Making Sense of Cents compounded a list of 75 gigs — side hustles — that anyone can do to earn some extra money.

I gotta admit, I don’t think I’ve seen a list this long in awhile.  I went through it three times just to see what activities I’ve attempted and was mildly impressed by ideas I had yet thought of.  Of the 75 activities they’ve listed to earn extra money, I’ve attempted 14.  That’s 14 before I knew this list existed.  Of the 14, four had actually earned me money.  Three of these extra-money-earners, I’m currently in the works of working on.  And the rest are by the wayside.

These ideas are great, but just like everything else, you gotta be willing to but the work and time to, well…. make it work.

Wanna know which four have already earned me money in the past?