Many people look for ways to earn supplemental income during an economic downturn, or simply to boost wealth or get out of debt. During a recession or depression, there are still ways to make extra money. You just need to be creative and sometimes, think outside the box. What main things do people need, and what services will still be called for? Here are some simple ways to earn supplemental income.
Earn additonal income by establishing your own niche website. While it won't happen overnight, if you can add a page or two a day you will see results quickly. Try Site Build It! for a complete website service that includes hosting, training and support. (See link under Resources, below, for information.)
Earn extra money by freelancing online as a writer, web designer, graphic designer, or tech support. Check out RentACoder, eLance and other job bidding sites.
Get a second job nearby. Look for jobs at schools and hospitals, rather than retail outlets and restaurants, to improve job security. A night job as a hospital security guard or school janitor will be low-key and bring in extra supplemental income for your family.
Offer your talents or skills for hire as a musician, mechanic, baker, landscaper or handyman. Many services are still in demand, especially since many people will repair what they have instead of buying new.
Find ways to build up a passive or semi-passive income stream. The possibilities are numerous, including a rental business of paid-for items (houses, apartments, equipment, bikes, cars, farm tools), fruit orchard, or even more passive, residual income from online writing and websites.
Produce and sell food or necessary goods. As fuel and food prices rise, people are looking for local products and local solutions. From selling chickens and eggs, to raising beef for local sale, you can be part of the solution and earn supplemental income at the same time.
Tips & Warnings
- Establishing a home-based business protects you against rising fuel costs and other expenses. Consider this when deciding what to do for supplemental income.
- Do not invest money you can't afford to lose. The best supplemental income can be started for very little money, or none at all.
- Site Build It: Build Your Own Niche Website for Fun & Profit
- Become a Site Build It Affiliate and Make Money
- Earn Residual Income from Writing Online
- Free Domain and Cheap Web Hosting at HostGator
- Domain Names: Buy Low, Sell High with BizMint
- Earn $1,000+/month on eHow
- The Niche Blogger: Earn Money Blogging Online
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