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.

Working 5 to 9: Finding the Time

The biggest excuse among most of us is time.

“We don’t have enough time”, “we can’t find the time to do this or that”, “where did the time go?”  Time seems to be this invisible enemy we’re all racing against to get shit done.  Whether we’re just rushing out the door to make it to work on time or trying to see if it’s worth our time to run to the store today after work, after that client or sometime later this week.  And for our lady hustlers out there, finding time to meet with and work with clients, time is a b*tch! (Forgive my political incorrectness here, it just happens to be a part of my vernacular.  Sorry, not sorry).

Rather, the lack of time is a b*tch.

I don’t know if you’ve heard or read those memes where they name some celebrity (Beyonce comes to mind) and they compare the whole world to this one person (forgetting that high profiled celebrity has an entourage of people at their beck and call) saying that this person has the same 24 hours in the day as we do and they get their shit done.  Not too  sure if this is meant to guilty trip us or motivate.  It’s questionable.  And, yeah, that’s true.  But, like us too, many of those A-List actors and performers had normal jobs or normal lives prior to their current status and had to find time in their normal days to make it as big as they’ve become.

They too had to find the time.

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My dearest fried, Elissa, sent me this photo/ quote from a book she’s reading  few days ago.  And yes, shame on me for not asking what book this was from, I’ll ask her later, but as you can see she clearly circled a passage that talks about time:

Look for windows of time just for you, and use them in small and creative acts.  Get to the record store at lunch hour, even if only for fifteen minutes.  Stop looking for big blocks of time when you will be free.  Find small bits of time instead.

Time is no longer an excuse any more, unless we allow it to be.  You don’t need a lot of time to start and even work on your hustle.  Granted, a lot of time would be nice, but do know how much you could get done in 60 minutes versus 24 hours if you knew that 60 minutes was never going to come around again?  And essentially, it won’t.  Not those same 60 minutes.  Maybe not even those same uninterrupted 60 minutes.

You and your hustle or your dreams or goals or plans or whatever you’re calling it in 2019 can go far if you just find the smaller blocks of time and use them to your best advantage.  Going forward, I want Wednesdays to b about the work we do for ourselves, not our bosses, not again some time clock (another enemy) from the hours of 5pm -9am.

So, today or any other day this week, how will you use your small chunks of time to start your hustle or take it to the next level?

Side Hustlin’ Sunday: Virtual Assistant

I am unsure if I brought this up earlier, but I will expand on this further either way.

Virtual Assistant.

Now, I know of several companies that offer legit remote Virtual Assistant opportunities, but I feel like they all require you to get yourself or be vetted through the company you’re going through. I’m firm a believer that a side hustle shouldn’t be difficult to get started. So, if you found yourself in one these companies and had no luck getting clients, strike out on your own.

You can creat a website, Facebook page, a Craigslist posting or whatever it is to help you get the word out there. By all means, do so. But also narrow down your services and packages. I’ve done this in so many forms, I didn’t know what it was at the time, just that it paid.

How I did/do it – I still use this hustle from time to time – was simple:

  • List all the services I was willing to offer and complete. Nothing on the list could be something I hated doing. ‘Cause then I wouldn’t do it.
  • Have a fixed price for each service. I used a flat monthly fee. Example, my social media marketing service was $175. My research was service was $150.
  • Offer packages. Make it more appealing by offering some of your services together for a fair price. You can offer three services for $500 or something.
  • Make sure take a deposit up front. Keeps everyone honest and fills your pockets to help some of the cost, should there be any.
  • Offer payment options: Venmo, PayPal, Square app, cash, credit card, whatever you like and think your clients might use.
  • Get a commitment timeline from your client . One month is not a good show of faith for either you or the client. A 3-month minimum commitment is ideal.

If this is an appealing opportunity, find a way to make this work and even enjoyable for you.

Happy hustlin’!

Side Hustlin’ Sunday: Mock Juror

I stumbled upon this side hustlin’ opportunity on The Penny Hoarder.  If you haven’t subscribed to them yet, I recommend that you do.  I’m a subscriber and I read their newsletters religiously.  Now, everything in it may not apply to me… and that’s okay.  I still read it, tho’.

And when I found this treasure of an opportunity, I had to re-share (since they had already shared it).  Become on online Mock Juror.  Doesn’t that sound like fun?  Well, it sounded like fun to me.   There are a couple of sites you can visit and sign up to become a mock juror.  The I signed up at JuryTest.net.  You fill out a form with the usual basic info, then a demographic questionnaire and then receive a confirmation email from them letting you know you’ve been added their system as a mock juror.  Their email states you will be notified as soon there in a case in your area/opportunity.   I will say that living in Los Angeles I don’t expect to wait too long.  I know our names means “The Angels”, but I also don’t kid myself.

The site is upfront with the expected amount time case may take to review and the pay out per case.  An average case for review as a mock juror lasts between an hour and two hours.  And the payout is between $20-$50.  I don’t know about you, but even on the low end, the payout is still more than what I make per hour at my regular full time job.   But don’t let me dwell on that.

For my side hustlers, try it out with me.  Worst case scenario, we don’t get a case.  We also don’t lose any money or any investments.

Typically, I would be spending the rest of my day inside, lightly cleaning, some meal prepping for the week, but I have to meet a client in an hour in Beverly Hills at a Coffee Bean and Teal Leaf.  And I’m likely to be there for a few hours, so to the rest you, enjoy your Sunday and getting ready for the week ahead!

Happy Hustlin’!

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?

Surveys

I’m a subscriber to the YouTube channel, The Financial Diet, as I’m always looking for great advice about saving money and earning extra money.  And one their segments talked about 12 Side Hustles that can be done from the comfort of your bed.  To be more practical, they probably should have said from their home, but same diff.  Anywho, they brought up about surveys.  Y’know, those online invitations to give up personal information for the sake of market research for promises of great rewards.

Well, I don’t know how great rewards always are but I can attest to the fact there are more legitimate surveys out there than I would I have guessed (allegedly).  I, myself, have been using a few paid surveys for a while now.  And when I said a while, I mean, for couple of years at least.  And although it’s suggested to use surveys that pay out cash to supplement your income, I’ve used mine to supplement my spending.

No, I don’t go and try to spend more because of this new found money, but I will spend it on the things I was already planning to buy: hygiene products, hair care, etc.  Oh! And on birthday gifts.  Seriously.  An Amazon gift card comes in so handy for birthday gifts.  A coworker invited me to her son’s birthday party in July and he’s obsessed with legos and the Titanic.  So I was able to find him a 1800-piece Titanic lego set for $32.  I had saved up some digital Amazon gift cards that came out to $30.  So, with taxes (no shipping because I’m a prime member) I came out pocket for $3-4.  Best gift I ever bought.

Surveys

The two survey sites I’ve use continuously used without any problems or scam like activity have been:  PaidViewpoint and Spring Board America.  Now, both sites have a minimum of how much money you first must earn before you can cash out, but if you have the patience and a few minutes of time here and there, it’s well worth the short effort.

Sites I’m currently exploring as I amp my survey game:

  • SwagBucks
  • Ebates
  • MyPoints

I’ll keep at it and see if they’re any good and report back.