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5 Side Hustles You Can Start In This Economical Recession

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Warren Buffet once said, “if your salary is your only source of income, then you’re one step away from poverty.” If you actually get some time to think about this quote you will get to realize how true the statement is. Think about it, if you do not have a side hustle or anything that sustains you besides your salary then what are you going to survive on if you’re to lose your job.

Automation has caused many people to lose their jobs and your job could be the next one at risk. This is the time to start a side hustle that can sustain you and your family when unplanned things such as losing your job take place.

What then are the side hustles you can start to get to earn more money?

This article will get to give you 5 side hustles that require less capital and can lead to high cash flow giving you a step ahead in life.

One side hustle you can start at the comfort of your own home could be starting your own blog. This has a low start up cost, and it can actually be highly profitable. For example, In India it is said that the highest paid blogger can earn up to $10 000 every month. Blogging will also get to allow you to build and control your own online identity and it has actually emerged as a serious profession for other people in different countries meaning you too can actually take it as a serious profession.

Another side hustle you could probably start could be starting a food business wherever you reside. A reason why you  can never go wrong with food is because each and every person wants to eat and food is actually a necessity or need to the human body meaning if you’re to sell food then the chances of building a large customer base and making high profits are very high. However if you are going to consider starting a food business then you will need to make sure that you a selling it in a clean environment as this is the main factor that attracts customers. Examples of food outlets you could start with could include restaurants or even a fast food outlet at a place that many people pass through.

We all have that one skill that we are good at. Charlotte Whitton once said we all have ability but the only difference is how we use it.

How then can we make use of our skills or gifts and also get to earn more money in the process? One way that could also be a profession could be online tutoring. For example if you’re really good at knitting then you could start a knitting class online where you actually teach your students different methods of knitting or any other skill you might have. Through this, you can actually get to make money through charging a certain amount to teach the students the skill you have.

Becoming a virtual assistant is another way you can make money and a virtual assistant is someone that specializes in officering administrative services to different clients. This can be done through scheduling meetings, appointments, bookings etc. for certain people that require such services the advantage of this could be that you can get to do it for more than 1 person which is a way that could improve the income you get and can also be taken as a part time job.

Buying and selling products through different online shops is another one of the side hustles that could make you earn more money easily. Such e-commerce shops include amazon, Alibaba eBay etc. and this could be done through buying certain products and selling them at a higher price or with an added mark up. this could lead to high profits if you are to find the products that people really need.

There are many other opportunities out there and most of them do not come knocking at the door, so in order to get more opportunities build a door and the opportunities will come knocking.