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Should a recession hit, having extra income coming in can make all the difference.
All it takes is creativity, resourcefulness, and a little hustle.
Start Freelancing
Do you have a way with words?
A knack for graphic design that has your friends constantly asking you to help with their holiday cards?
Are you a master coder or tech support expert?
Do you love to spend time with furry friends, or even feathered or scaly ones?
Sign up with the Rover app to be a dog walker or a pet sitter.
With the right qualifications, you could join Care.com as a provider for child or elder care.
People will pay money for them sometimes, big money, depending on the item.
Scout your attic for old items in good condition and give them a polish or slight repair as needed.
Decluttering and making extra cash?
Talk about a win-win.
Acquire Dividend Stocks
When many people hear the word recession, they get antsy about the stock market.
Take a deep breath.
you’ve got the option to make strategic moves to protect your money, starting with dividend stocks.
Invest in Precious Metals
Want to give your portfolio a solid foundation during a downturn?
Gold is a key asset for a recession-proof portfolio because it offers diversification.
When other assets take a hit, gold tends to hold its value, or even grow.
In fact, during the recession of 1973-1975, goldsurgedby 87%.
Its time to cancel it.
Are you making a big grocery trip but still ordering DoorDash weekly?
Time to make more mindful decisions about where your food budget is going.
you could break the glass on that money youve set aside, allowing you to keep moving forward.
To build the strongest emergency fund possible, put your money into a high-yield savings account.
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